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Metro Manila, nearby provinces suspend Friday classes amid monsoon rains

STUDENTS in Manila braved the rains after classes were suspended later on Tuesday. — PHILIPPINE STAR/EDD GUMBAN

Several areas in the National Capital Region and Luzon have suspended classes on Friday due to heavy rainfall brought by the southwest monsoon.

Classes at all levels, both private and public, are suspended in several cities in Metro Manila, including Caloocan City, Las Piñas City, Malabon City, and Marikina City.

Areas of Parañaque City, San Juan City, Valenzuela City, and Pasay City have suspended classes, while in Pasig City and Pateros, the suspension is only up to Senior High School.

Other areas in Luzon have also announced class suspensions at all levels, both private and public, including Cainta, Rizal; Bamban, Tarlac; Santiago, Isabela; Morong, Bataan; and Hermosa, Bataan (up to Senior High School).

In Bulacan, several areas have also suspended classes at all levels, including Baliwag City, Bocaue, Bulakan, Calumpit, Malolos, Norzagaray, and Pandi, as well as Santa Maria and Hagonoy (up to Senior High School).

Meanwhile, in Pampanga, the areas of Arayat, Sta. Ana, Macabebe, Masantol, and Candaba (up to High School only) have suspended classes at all levels, both public and private.

Classes were also suspended in some areas in Zambales, including Olongapo City, Subic, Castillejos, San Antonio, Cabangan, as well as San Narciso and San Felipe (up to Senior High School only.

The state weather bureau said the southwest monsoon will bring cloudy skies with scattered rains over Luzon and the western section of Visayas today (Sept. 5). — Edg Adrian A. Eva

NG outstanding debt surges to record P17.56 trillion as of end-July

BW FILE PHOTO

THE NATIONAL GOVERNMENT’S (NG) outstanding debt ballooned to a record P17.56 trillion at the end of July, breaching its full-year projection for 2025, data from the Bureau of the Treasury (BTr) showed.

The latest data from the BTr showed outstanding debt surged by 11.9% from P15.69 trillion in July 2024.

This was already 1.15% higher than the P17.36-trillion projected debt by end-2025.

Gov’t debt reaches P17.56 trillion at end-July 2025

Despite surpassing the 2025 projection, the Treasury said the debt stock is expected to decline by yearend as the government pays off P814.2 billion in domestic bonds by December and as “fundraising activities wind down.”

Month on month, NG debt inched up by 1.7% from P17.27 trillion in June, the BTr said.

NG debt is the total amount owed by the Philippine government to creditors such as international financial institutions, development partner-countries, banks, global bondholders and other investors.

“To mitigate exposure to foreign exchange risk, the government continued to favor domestic borrowings to deepen the local capital market, attaining a financing blend comprised of 76% domestic financing and 24% external borrowing in the first seven months of the year,” the Treasury said.

“As a result, the domestic component of the debt stock improved to 68.9% at the end of July from 68.1% at the end of 2024.”

Domestic borrowings increased by 12.6% to P12.11 trillion as of end-July from P10.75 trillion in the same month last year.

This was already 0.52% higher than the P12.04-trillion year-end domestic debt projection.

Month on month, domestic borrowings slightly went up by 1.3% from P11.95 trillion at end-June.

Domestic borrowings were made up mostly of government securities.

On the other hand, external debt rose by 10.5% to P5.46 trillion as of end-July from P4.94 trillion a year ago. This also exceeded the P5.32-trillion external debt projection this year by 2.63%.

Month on month, external debt inched up by 2.6% from P5.32 trillion at end-June.

Foreign debt was composed mainly of P2.79 trillion in global bonds and P2.67 trillion in loans.

External debt securities were made up of P2.37 trillion in US dollar bonds, P252.46 billion in euro bonds, P58.5 billion in Japanese yen bonds, P58.19 billion in Islamic certificates and P54.77 billion in peso global bonds.

As of end-July, the NG-guaranteed obligations rose by 2.4% to P352.97 billion from P344.79 billion a year ago.

Month on month, it also edged higher by 2.3% from the end-June level of P345.11 billion.

“The Marcos, Jr. administration remains steadfast in its commitment to prudent debt management by leveraging strong investor confidence in peso-denominated securities while ensuring that borrowings are at the lowest possible cost and support fiscal sustainability, inclusive growth, and a stronger Philippine economy,” the Treasury said.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said debt rose as the government ramped up borrowings to plug the widening budget gap.

From January-to-July period, the fiscal deficit widened by 22.04% to P784.4 billion amid faster state disbursements. This was on track to hit the revised P1.56-trillion full-year deficit ceiling, the BTr said.

“(The debt) could possibly breach above P18 trillion by end-2025 at the rate of the year-to-date increase if not curbed through narrower budget deficits in the coming months,” Mr. Ricafort said.

However, he noted that this could be partially offset by the settlement of large maturing NG obligations, particularly in August and September.

“This (rising debt) is concerning but not entirely unexpected given sustained borrowing needs, a weaker Philippine peso, and spending demands tied to infrastructure, subsidies, and tariff-related buffers,” Philippine Institute for Development Studies Senior Research Fellow John Paolo R. Rivera said in a Viber message.

Mr. Rivera said it will be likely that the NG debt level will exceed the year-end projection if current trends persist, such as “modest revenue growth” and “large spending needs such as flood control, defense, and infrastructure projects.”

Earlier, the Finance department projected outstanding debt to reach P19.1 trillion by 2026, rising to P20.5 trillion by 2027, P21.9 trillion by 2028, and P23.4 trillion by 2029. By 2030, outstanding debt is expected to reach P24.7 trillion.

At the end of the second quarter, NG debt as a share of gross domestic product surged to 63.1%, the highest since 2005. This is above the 60% debt-to-GDP threshold considered by multilateral lenders to be manageable for developing economies. 

The DoF expects the debt-to-GDP ratio to ease to 61.3% by end-2025 and eventually fall to 58% by 2030. — Aubrey Rose A. Inosante

Business groups seek jail time for corrupt officials

Protestors vandalized the gate of the St. Gerrard Construction, a Discaya-owned construction company involved in various anomalous flood control projects, during a rally in Pasig City, Sept. 4. — PHILIPPINE STAR/MIGUEL DE GUZMAN

THIRTY BUSINESS GROups on Thursday strongly condemned the continuing and excessive graft and corruption by government officials, calling for jail time for these corrupt individuals.

The business groups, led by the Philippine Chamber of Commerce and Industry (PCCI) and the Management Association of the Philippines (MAP), issued a strongly worded statement calling for the end to corruption in government’s public works and other projects.

“We hereby declare our outrage, disgust, and disappointment about the acts of many of our legislators in Congress and officials in the Executive Department, primarily in the Department of Public Works and Highways (DPWH), the local government units, and the Commission on Audit (CoA), for their shameful, unabated, continuing, and excessive acts of graft and corruption,” the groups said.

While the groups welcomed President Ferdinand R. Marcos, Jr.’s callout against corrupt officials, they expressed concern that the guilty officials will continue “their merry way of robbing the people and filling their pockets, completely oblivious to the fact that they are betraying the public trust (and) committing a treasonous act against our people.”

The business groups said a thorough investigation should be conducted by an independent body, with the aim of prosecuting these officials, putting them in jail and recovering the stolen funds.

“Justice for the Filipino people, especially the poor, can only be achieved by successfully punishing the corrupt,” they said.

“Our call therefore is not just to ‘moderate your greed.’ Our collective call to these corrupt officials is — Please stop! Maawa naman kayo sa mga naghihirap na taong bayan (Have mercy on our suffering countrymen).”

The business groups said they will help identify “those who have been guilty in the conspiracy to steal from the people.”

They also committed to gather evidence of corruption against government officials, particularly those in the DPWH, LGUs and CoA and “their partners in crime in the private sector.”

The groups also pledged to blacklist “notorious” businessmen and contractors who work with the corrupt politicians and officials.

They also vowed to participate in and support citizen and voter education campaigns as well as to lead the signing of the Integrity Pledge, where they promise not to bribe any politician in exchange for favors.

“(We will) encourage the financial sector, particularly the banks and the Anti-Money Laundering Council (AMLC), to be one with us in bringing out the money launderers and their unexplained wealth within legal and regulatory boundaries,” they said.

Aside from the PCCI and MAP, the statement was backed by other large business groups such as the Employers Confederation of the Philippines, Federation of Philippine Industries, Financial Executives Institute of the Philippines, and the Philippine Exporters Confederation, Inc.

The other signatories included the Alliance of Women for Action towards Reform, Alyansa ng Nagkakaisang Mamamayan, Association of CPAs for Sustainability, Inc., Brotherhood of Christian Businessmen and Professionals, Cebu Business Club, Cebu Chamber of Commerce and Industry, and Cebu Leads Foundation.

The FinTech Alliance Philippines, Chamber of Commerce of the Philippine Islands, Connected Women, Filipina CEO Circle, Green EDSA Movement, Iloilo Economic Development Foundation, Inc., Institute for Solidarity in Asia, and Institute of Corporate Directors also signed the statement.

Groups such as the Justice Reform Initiative, Military and Uniformed Personnel for United Philippines, Nextgen Organization of Women Corporate Directors, People Management Association of the Philippines, Philippine Institute of CPA, Philippine Women’s Economic Network, Semiconductor and Electronics Industries in the Philippines Foundation, Inc., Shareholders’ Association of the Philippines, and Women’s Business Council Philippines have also signed.

The business groups’ joint statement comes amid the government’s ongoing probe into reported anomalies in flood control projects under the DPWH.

In his State of the Nation Address on July 28, Mr. Marcos ordered an investigation into flood control projects days after Metro Manila experienced widespread flooding due to monsoon rains.

RESIGNATIONS
Meanwhile, the Department of Trade and Industry (DTI) said that the executive director of the Construction Industry Authority of the Philippines (CIAP) and two board members of the Philippine Contractors Accreditation Board (PCAB) have stepped down amid allegations that PCAB was selling contractor accreditations.

“Executive Director Herbert D.G. Matienzo resigned. He put personal reasons in his resignation letter. He resigned on Sept. 3, and I accepted his resignation on Sept. 3 as well,” DTI Secretary Ma. Cristina A. Roque told reporters on Thursday.

“But even if he resigned, he said that he will cooperate and that he will be covered by the probe,” she added.

Ms. Roque said that the people that will replace the resigned officials are already identified but are yet to be announced.

PCAB Board Members Arthur N. Escalante and Erni G. Baggao have also resigned, the Trade chief said.

“So, for Ernie Bagao, he cited personal and health reasons; for Arthur Escalante, his term has actually expired in May 2025, so he just stepped down,” she added.

Late on Wednesday, the DTI said that it will release the full list of companies facing potential license revocation once it completes its review and receives the documents from the resigned executive director.

“This review aims to uphold transparency and accountability following PCAB’s board resolution revoking the licenses of nine construction firms owned by businesswoman Cezarah Rowena C. Discaya,” the department said.

“This also reflects DTI’s commitment to ensure fair practices and protect industry integrity in government procurement and licensing,” it added.

Asked what steps the department will take amid plans of the Discayas to file an appeal, Ms. Roque said that the department will stick with PCAB’s recommendation.

“Everybody is allowed to file an appeal. But for us, we will stick to the PCAB’s recommendation. I don’t know how long the process will be, but definitely, if they file, of course, the PCAB will counter it,” she added.

Mr. Marcos said previously that about P100 billion of the total P545 billion in government funds that were allocated for flood control projects nationwide since 2022 were cornered by just 15 contractors.

“Those are being checked. Actually, we started investigating those companies that are involved last week. We will just be putting them out once we get a conclusion,” she said. — Justine Irish D. Tabile

New fiscal regime for mining industry signed into law

President Ferdinand R. Marcos Jr. signs into law Republic Act No. 12253 or the Enhanced Fiscal Regime for Large-Scale Metallic Mining Act in a ceremony at Malacañan Palace, Sept. 4. — NOEL B. PABALATE / PPA POOL

By Erika Mae P. Sinaking

PHILIPPINE President Ferdinand R. Marcos, Jr. on Thursday signed into law a measure that overhauls the tax regime for large-scale metallic mining, imposing royalties and profit-based levies to boost government revenue and share gains with host communities.

“This reform mandates mining companies that operate within government-designated mining sites to pay a royalty of 5% of their gross output,” the President said during signing ceremonies for Republic Act No. 12253 or the Enhanced Fiscal Regime for Large-Scale Metallic Mining Act at the presidential palace.

“Those operating outside mineral reservations, on the other hand, will be subject to a margin-based royalty on income from metallic mining operations,” he added.

The measure also introduces a windfall tax on companies whose profit margins exceed 30%. “This ensures that the government receives its fair share from the extra profit and that the benefits will ripple into the lives of ordinary Filipinos,” Mr. Marcos said.

Each mining contractor will now be treated as a separate taxable entity, preventing companies from offsetting one project’s losses against another’s gains.

The law directs the Bureau of Internal Revenue and the Bureau of Customs, in coordination with the Mines and Geosciences Bureau (MGB), to audit past mineral sales and exports.

Local governments are set to benefit from the reform, with 40% of gross collections from excise taxes, royalties, and related charges allocated to them, Malacañang said in a statement.

In addition, 10% of royalties from mining sites will go to the MGB and Metals Industry Research and Development Center to fund exploration, research and environmental protection initiatives.

“This marks a significant milestone in positioning the Philippine mining sector as a key player in the global value chain. By modernizing the industry’s fiscal regime, we aim to drive economic growth, especially in support of green technologies, while protecting our environment and natural heritage,” Secretary Frederick D. Go, the special assistant to the President for investment and economic affairs, said in a statement.

The Chamber of Mines of the Philippines Chairman Michael T. Toledo said the new law is a step towards establishing a “stable, transparent, and competitive fiscal environment for the mining industry.”

“We recognize that increased taxation is inevitable. The law provides predictability and consistency in the fiscal framework, which are essential for long-term planning and investment. It aligns the Philippines with global mining jurisdictions, making us more competitive and attractive to investors, especially amid rising global demand for critical minerals,” he said in a statement.

Mr. Toledo said the law ensures both the government and host communities receive a fair portion of revenues when metal prices are high, but also allowing “reasonable tax relief” for companies when prices fall.

Senator Joseph Victor “JV” G. Ejercito, who was the principal author of the law, acknowledged that the proposed five-year moratorium on the export of locally-extracted minerals was not adopted in the final version.

“Although the export ban wasn’t included, which I think could have been a game changer by encouraging local processing and creating more jobs, we will continue to push for it in the next Congress,” he said.

‘GAINS AND GAPS’
Cielo Magno, associate professor at the UP School of Economics and longtime advocate for transparency in extractive industries, described the new law as favorable to the industry but raised concerns about its broader impacts.

“This new regime will bring additional revenue to the government by attracting new mines because it is very friendly to them. It still doesn’t guarantee payments for minerals extracted because it is based on margins of profit, which can be easily reduced to zero through accounting,” she told BusinessWorld.

“With weak government regulation and monitoring, it doesn’t guarantee fair payment for our minerals.”

Ms. Magno noted the policy was formulated without any regard to the social, environmental, and political impact of mining.

“We missed the opportunity to address how mining will aggravate climate change effects on communities. This new policy did not even consider policies that would maximize value-adding through processing of raw minerals. This policy is beneficial, but only for mining companies,” she added.

When asked what specific measures or safeguards the government should implement, Ms. Magno said, “They have to review the regulations related to social, environmental, and climate impacts and upgrade them.”

John Paolo R. Rivera, senior research fellow at the Philippine Institute for Development Studies, said the new mining fiscal reform is a long overdue step toward aligning mining revenues with actual profits.

“The shift to margin-based royalties and windfall taxes can improve equity, while transparency provisions help curb leakages and build investor trust,” Mr. Rivera said

“If implemented well, this can boost revenues, empower LGUs, and support long-term sustainability. The key now is consistent enforcement and clear, investor-friendly guidelines,” he added.

Large-scale RE auction fails to hit installation target

Solar panels are pictured on a floating photovoltaic power plant on lake Silbersee (Lake Silver) in Haltern am See, Germany in this file photo taken on April 11, 2022. — REUTERS/THILO SCHMUELGEN

By Sheldeen Joy Talavera, Reporter

THE GOVERNMENT was unable to hit its installation target of 10,653 megawatts (MW) of renewable energy (RE) capacities under the fourth round of green energy auction (GEA-4).

In a statement late on Wednesday, the Department of Energy (DoE) said the latest auction results attracted 9,423.622 MW of RE capacities coming from 111 bids, against the installation target of 10,653 MW. This was equivalent to an 88% turnout rate.

The GEA-4 covered multiple RE technologies, including ground-mounted, roof-mounted, floating solar, onshore wind, and integrated renewable energy and energy storage systems (IRESS).

“While the auction successfully subscribed to a large majority of the installation targets, there remain unsubscribed installation targets, notably floating solar, onshore wind, and IRESS,” the DoE said.

These unsubscribed installation targets will be offered for subscription to other qualified bidders with accepted bids that exceeded the installation targets.

“This mechanism ensures that unsubscribed installation targets are maximized under GEA-4, and no opportunity for RE development is left unutilized,” it said.

The winning bidders are directed to submit post-auction requirements, including the affidavit of undertaking, performance bond, and system impact study.

Projects awarded under GEA-4 are expected to start delivery between 2026 and 2029.

“The results of GEA-4 affirm the strong partnership between government and the private sector in driving RE deployment,” Energy Secretary Sharon S. Garin said in a statement.

“By securing over 9,000 MW of new clean energy commitments, and by offering unsubscribed installation targets to other eligible bidders, we are ensuring that our transition is ambitious, inclusive, and resilient.”

In July, the DoE said that it received more than 200 bids from 142 companies for evaluation.

Notable participants include some of the country’s biggest power developers — Citicore Renewable Energy Corp., San Miguel Global Power Holdings Corp., ACEN Corp., Aboitiz Power Corp., and First Gen Corp.

The GEA program aims to promote RE as one of the country’s primary sources of energy through competitive selection. The supply contract for winning RE projects will be for 20 years, starting from the commercial operation date of the plant.

As a flagship government initiative, the program is seen to contribute to the country’s goal of achieving a 35% RE share in the power generation mix by 2030.

Ma. Theresa Cruz-Capellan, chairman of the Philippine Solar and Storage Energy Alliance, said that the 88% subscription is already a good turnout rate given that the auction’s focus is geared towards emerging technologies.

“Let us be reminded that the auction, as conceived, is directed towards emerging technologies,” Ms. Cruz-Capellan told BusinessWorld. “In this round, two emerging technologies participated — IRESS and floating solar.”

IRESS is a technology that allows renewable energy plants to optimize their operations by storing excess energy.

Floating solar involves solar panels that are installed on floating structures.

“The technical standards for these two technologies are not yet set thereby increasing financial risks, and bankability of projects,” she said.

Ms. Cruz-Capellan said that the series of consultations with developers and the sharing of information on the cost, operations and construction timeline helped attract a good number of bidders.

Angelo Kairos Dela Cruz, executive director of think tank Institute for Climate and Sustainable Cities, said that the recent auctions conducted by the government shows why the Philippines is the second-most attractive emerging economy for RE investments worldwide.

Mr. Dela Cruz said that the recent and next rounds of GEA are learning from the shortcomings and gaps of the first round.

“What’s really good with the DoE is that you can see how the policies are flexible enough to learn from the mistakes and from the gaps,” he said. “I think this humility, at some point, allows the DoE to come up with better policies without losing its credibility as a very strong institution here in the Philippines.”

The first GEA that was conducted in 2022 until the latest round that has yet to be completed promise a total RE capacity of 20 gigawatts.

GEA-5 dedicated to offshore wind projects is set to offer 3,300 MW of capacity this year.

“Through bold targets, innovative policy tools like the Green Energy Auction, and active collaboration with the private sector, the country continues to pave the way toward a resilient and climate-centered power system that benefits all Filipinos,” the DoE said.

Cinemalaya 2025 goes to Shangri-La Plaza

Lineup filled with star-studded films

THE 21st edition of the Cinemalaya Independent Film Festival will screen full-length and short feature films in a competition at Shangri-La Plaza in Mandaluyong City.

With the theme “Layag sa alon, hangin, at unos” (To sail through waves, wind, and storms), the festival will have 10 full-length films and 10 short features in competition. It will run from Oct. 3 to 12.

“The whole process — from submission to development to the final films — took about 20 months. That means that, as we introduce to you today the new films of Cinemalaya 2025, work on the 2026 batch has already begun. Twenty semifinalists are currently in the film lab,” said film director Laurice Guillen, Cinemalaya Foundation president, during a press conference on Sept. 3 at Shangri-La Plaza.

“As you can see, it is a continuing cycle. After 20 years of Cinemalaya, you can say it’s been a never-ending process,” she added.

Ms. Guillen also told the press that this year’s edition is “downscaled,” without special screenings, talkbacks, and other festival events. This means that the mall will function mainly as a screening or premiere venue, compared to the usual expansive venue of the Cultural Center of the Philippines (CCP) Main Building, which is still under rehabilitation, which used to host multiple events.

“Our focus is really on the competition films this year,” she said.

Chris B. Millado, Cinemalaya’s festival director added that the theme references the “creative wind that has pushed the Cinemalaya balangay forward,” referring to the large traditional boat, and the “wave after wave of new breeds of filmmakers and storytellers over the years.”

“Cinemalaya almost capsized because of challenges in terms of funding, but because of the leadership of the CCP, the Cinemalaya Foundation, and continuing support from the FDCP (Film Development Council of the Philippines), we were able to arrest the capsizing of the Cinemalaya balangay,” he said.

Mr. Millado explained that upon stabilizing the boat, it has been the filmmakers who “sturdily put up the sail again with their wonderful, colorful, deeply profound stories.”

This year’s edition of Cinemalaya received 336 short film submissions and 190 full-length story scripts, according to film director Carlitos Siguion-Reyna, Cinemalaya’s competition and monitoring committee chairman.

“You’ll see a wide variety of voices, a wide variety of topics and themes in this selection,” he said.

The 10 full-length films in this year’s competition, many of which are star-studded, are:

Bloom Where You Are Planted by Nonilon Abao. A documentary about three land rights activists who must contend with their volatile notions of home amid terror and red-tagging in Cagayan Valley.

Nonilon Abao, who was a human rights worker in that region for years, said at the press conference that the current political situation calls for us to “take a stand and call out what is wrong.”

Ang documentary namin ay ine-explore ang buhay ng mga aktibista na ito at kung paano umabot sila sa ganoong klaseng mga sitwasyon (Our documentary explores the lives of these activists and how they ended up in those kinds of situations),” he explained.

Child No. 82 by Tim Rone Villanueva. Touted as the first fantasy film entered in Cinemalaya, it follows a high school student who must prove that he is the 82nd child of the Philippines’ biggest action-fantasy movie star. Set during the movie icon’s wake, the adventure kicks off as the boy hopes to see his late father one last time.

“This film courageously strives to tackle the sensitive themes of paternity, machismo, and impunity of men amongst Filipinos and gives a lens to see the repercussions of living as an illegitimate child and a child with an absent parent,” director Tim Rone Villanueva said. For him, the film is “a love letter to his inner child.”

It stars former Pinoy Big Brother contestant JM Ibarra as the son Max and actor Vhong Navarro as the movie star Boy Kana.

Cinemartyrs by Sari Dalena. The film recreates forgotten massacres from Philippine history, as a young female filmmaker (played by Nour Hooshmand) begins shooting at a site where 1,000 men, women, and children were slaughtered.

Set in the 1990s when documentaries were still shot on 16-mm format, the lives of the film crew and local villagers put in peril as the spirits of the dead Katipuneros and Tausugs are awakened.

Marami itong layers. Most of all, ito po ay tungkol sa pagluluwal ng isang pelikula na pinagdadaanan ng isang babae. (It has a lot of layers. Most of all, it’s about this woman going through the difficult birthing of a film),” said Ms. Dalena, the director.

Habang Nilalamon ng Hydra ang Kasaysayan by Dustin Celestino. The film follows four Filipinos who must confront the slow erasure of memory and truth in a country devoured by disinformation. The central characters are a political strategist, a history professor, a speechwriter, and an election lawyer.

Director Dustin Celestino said that the film is “about disinformation.”

Sila ay naghahanap ng katotohanan at kabuluhan habang napaliligiran ng mga kasinungalingan (Theirs is a search of truth and meaning while surrounded by deceit),” he said.

Its four leads are played by Dolly De Leon, Jojit Lorenzo, Zanjoe Marudo, and Mylene Dizon.

Padamlagan by Jenn Romano. This film takes place in 1972, during the collapse of the Colgante Bridge in Naga City, five days before the proclamation of Martial Law. OPM icon Ely Buendia (who himself was born in Naga) — in his first lead role in a full-length film — plays a father searching for his missing son in the wake of the tragedy.

The film’s title in English translates to “Night Light,” according to director Jenn Romano, and it tackles a very ominous tragedy in Bicol that she discovered while doing research during her graduate studies.

“It surfaced in the final issue of a local newspaper before the media blackout — one of the last headlines printed before press outlets were shut down and journalists arrested,” she said. “By reclaiming these stories, the film ensures that our struggles and truths remain part of our collective memory.”

Paglilitis by Cheska Marfori and Raymund Barcelon. In this social drama, a former executive assistant is persuaded by a passionate lawyer to file a sexual harassment case against her rich and highly respected boss.

“Our film is about sexual harassment at the workplace. Hindi ito masyadong pinaguusapan kasi natatakot ang mga inabuso na mawalan ng trabaho (It is something that isn’t really talked about because the victims are afraid of losing their jobs),” said Ms. Marfori.

Its stars include Rissey Reyes-Robinson, Eula Valdez, Leo Martinez, Jackie Lou Blanco, Sid Lucero, Bombi Plata, and Rolando Inocencio.

Open Endings by Nigel Santos and Keavy Vicente. The film follows four queer women in their 30s who are exes-turned-best-friends, played by Janella Salvador, Klea Pineda, Leanne Mamonong, and Jasmine Curtis-Smith. It sees them navigate adulthood, love, friendship, chosen families, and everything in between.

“This is a sapphic film,” declared director Nigel Santos. “We rarely see something like this on the big screen and we believe that representation matters. These stories need to be heard, seen, and experienced.”

“I hope this film adds something meaningful to the growing conversation around queer stories in Philippine cinema,” she added.

Republika ng Pipolipinas by Renei Dimla. This comedy is centered on a disillusioned farmer who renounces her Filipino citizenship when the local government threatens to evict her from her own land.

The film kicks off when she protests by building her own micronation called Republika ng Pipolipinas. “Para po ito sa mga taong sawa na sa flood control projects. Paguusapan nito ang tunay na kahulugan ng pagiging makabayan (This is for those who are sick of flood control projects. It will talk about the true meaning of patriotism),” said director Renei Dimla.

Its leads are played by Geraldine Villamil and Alessandra de Rossi.

Raging by Ryan Machado. The film, set in the mid-1990s in Sibuyan, Romblon, is about Eli, a young man in his late teens who was raped by one of his peers. His quest for truth and justice intertwines with a mysterious plane crash, and he uncovers a sinister plot that propels his desire to be heard but also threatens his community.

Eli is played by Elijah Canlas.

“It’s about abused spaces, physical places, and emotional landscapes that have been neglected and violated,” said the film’s director Ryan Machado, who hails from Romblon.

“In a nutshell, it’s a story about someone who confronts outrage that seeps out of the cracks and reshapes the world around it,” he added.

Warla by Kevin Alambra. An adaptation of true events, this film tells of a young transgender woman who finds the family she’s been longing for in a gang of sisters who kidnap foreign men to fund their gender-affirming surgeries.

Director Kevin Alambra said that it is ultimately a story of humanity. “Pinapakita nito kung paano ang isang tao ay kaya gawin ang lahat para mabuhay nang totoo at buo (It shows how a person could do anything to live truthfully and completely),” he said.

The main transgender cast members include Jervi Wrightson (known as Kaladkaren), Lance Reblando, Serena Magiliw, and Valeria Ortega.

SHORT FILMS
The 10 short feature films in the main competition are:

Ascension from the Office Cubicle by Hannah Silvestre, about an exploited call center agent who grows increasingly enamored by the late-night host of the local lottery draw.

Figat by Handiong Kapuno, which follows a young Kalinga girl, untouched by the pull of technology, bringing a handmade instrument to class to inspire a return to cultural pride.

Hasang by Daniel de la Cruz, about a young boy who witnesses his grandmother slowly transforming into a tilapia one summer.

I’m Best Left Inside My Head by Elian Idioma is centered on a multi-talented golden boy adopted by gay philanthropists, who has a reunion with his old buddies from his original orphanage.

Kay Basta Angkarabo Yay Bagay Ibat Ha Langit by Maria Estela Paiso is about a young girl who turns into a fish and recounts the territorial aggression of China being experienced by the fisherfolk in her hometown in Zambales.

Kung Tugnaw Ang Kaidalman Sang Lawod by Seth Andrew Blanca is a film about a debt-stricken seafarer who takes on his superior’s help, only to sense an unknown presence tightening its hold on him.

Please Keep This Copy by Miguel Lorenzo Peralta, where a cacophony of archival voices of rebellious youth in a private all-boys Catholic high school breaks through amid political turmoil.

Radikals by Arvin Belarmino is a film about a young rookie from a bizarre chicken-dance group facing a heckler after being the worst dancer at a performance.

The Next 24 Hours by Carl Joseph Papa is an animated film about a young woman navigating a cold and bureaucratic system over the course of 24 hours following a sexual assault.

Water Sports by Whammy Alcazaren centers on two sad boys who harness the power of their love in an attempt to survive a world devastated by climate change.

The full screening schedules and ticket prices have yet to be announced. For more details, visit the CCP and Cinemalaya websites and social media pages. — Brontë H. Lacsamana

Killing fields

Gael García Bernal in a scene from Lav Diaz’ Magellan.

Movie Review
Magellan
Directed by Lav Diaz

(Earlier this week the Film Academy of the Philippines and the Film Development Council of the Philippines officially announced that Lav Diaz’  Magellan is the country’s submission to the 98th Academy Awards, better known as the Oscars, for the Best International Feature Film category. — Ed.)

Looked down at my notes after just having finished Lav Diaz’s latest I see — circled and underlined, on top of the page — the words: “so much killing!”

That was the most lasting impression the film made: so much death, almost all of it deliberately inflicted. Not actual violence — Diaz has declared again and again he doesn’t enjoy being explicit onscreen — but the consequence of such violence, either sprawled on a beach or draped over rocks or curled tight like an injured worm, often with an exhausted or resigned expression on the face, at times elaborately drizzled with a thick peri-peri sauce. Corpse after corpse after corpse and you think maybe Diaz is trying to say something: that it’s everywhere, in every country; that it comes in all forms, from all kinds of causes; that it gives rise to every consequence, from vengeance quests to military reprisals to international conflicts to — and this strangest of all — a unique and private peace. Some of the bodies show a serenity and lack of suffering they never had when alive; one wonders what Diaz himself thinks of death, if he seems to obsess with its depiction on the big screen.

This film is actually a first for Diaz: previously he’s devoted himself to telling the Filipino experience, at most (in Batang West Side [West Side Avenue]) the Filipino-American experience. With this feature, Diaz focuses on Portuguese explorer Ferdinand Magellan (in his native language “Fernao de Magalhaes”) – an important figure in Filipino history, not so much for “discovering” the existence of the Philippine Islands (at this point a loose collection of kingdoms living in uneasy truce) as for directing King Carlos I’s attention to the islands’ potential riches, ripe for exploitation.

In short, Magellan (played by Gael García Bernal) is a calamity waiting to happen.

He wreaks havoc in the Malaccas (where the local defense consisted mainly of near-naked men and women with their hands raised, begging the gods for help while he cuts them down); watches his boss Governor Afonso de Albuquerque (Roger Alan Koza) deliver a rambling megalomanic rant before collapsing, sips wine over the Governor’s prone body. He loses half his men across Portugal’s conquered territory and has to fend off their widows as they stand on a beach, demanding to know what became of their men; he acquires an indentured servant named Enrique (Amado Arjay Babon), a beautiful wife heavy with child named Beatriz (Angela Azevedo), a new patron in King Carlos (Victor Chesnais), and five ships to find a new path to the Spice Islands — west as opposed to east, circumventing Africa, India, China, and his former patron King Manuel of Portugal (Daniel Viana).

And if you think Magellan was a brutal sonofabitch commanding troops on land, you should see him in a boat.

He metes out swift punishment to a pair of sodomites, enforces discipline with a heavy hand, suppresses mutinies, overall gives you the impression that a ship — especially one making a crossing expected to last only a few days, which turned out to be three endless months — is basically a vast bowl of concentrated misery, all sores, simmering anger, sicknesses physical and mental. Headed, mind you, slowly but inexorably west, towards what we now call Southeast Asia.

Magellan’s eventual arrival (Warning: skip the rest of this paragraph if you haven’t seen the film!) comes as something of a surprise, as fate — or God if you will — arranges a little twist: the children of Cebu suffer from scurvy, which Magellan handily treats with a spoonful of quince. It’s the rare touch of humanity that complicates an otherwise grim portrait, and for the first time you see Bernal’s charismatic smile as he lifts an afflicted child to his arms, and you’re reminded that he already has a son, and knows — somehow — that his son has passed. You think “maybe this man isn’t so bad after all” and might even start rooting for him to succeed (you shouldn’t, but you might).

Visually the film — the rare recent Diaz in color — is a striking example of heightened verite. Locked-down camera setups capture corners and intersections of alleyways or huts, and the action (or if you like, the charnel house) scatters accordingly; figures are lit sideways, edged with a warm sunset glow. The footage aboard the Trinidad is particularly extraordinary — Diaz managed to snag himself a full-sized galleon, and you hear the creak of the planks, the wind whistling off the lines, the snap of filling sails; even the locked-down camera can’t help but shudder a bit, as the ship goes into an especially hard roll.

The film is such a ravishing experience it seems churlish to complain it’s a mere 160 minutes — a blink compared to Diaz’s more marathon features. But I’d love to learn more of Enrique’s story, especially his thoughts and feelings about his latest master, and the thoughts and feelings of Raja Humabon (Ronnie Lazaro) as he listens to this sickly pale example of a European go on and on and on about Christ and morality.

Diaz did mention planning a sequel, focusing not on that military bore Ferdinand but on his mysterious wife Beatriz — as Azevedo plays her she has this still presence that commands your attention, and her few scenes with Bernal have a palpable warmth. Diaz also mentions the sequel should run about nine hours — nine hours! What does Beatriz have to say to us that Magellan can’t, or won’t? What tea might she offer, or fling in our faces? I, for one, would like to know.

SM readies P150-B expansion, upgrade push through 2030

SM SUPERMALLS

By Sheldeen Joy Talavera, Reporter

SM SUPERMALLS is earmarking more than P150 billion in capital expenditure (capex) to fund major redevelopments and build new lifestyle malls over the next five years, its president said.

“We’re going heavy on redevelopment. That’s why we really allotted P150 billion in terms of capex. But that’s half-half for new malls and also for expansion and redevelopment,” SM Supermalls President Steven T. Tan said during a briefing on Thursday.

The capex will be financed through a combination of borrowings and internal funds.

The company said the investment covers 16 major redevelopments and 12 new lifestyle malls, as part of a portfolio-wide transition to greener, more innovative, and more people-centered destinations by 2030.

Among the properties to undergo redevelopment are SM Megamall in Pasig City and SM North Edsa in Quezon City, with an allocation of about P9 billion each.

For SM Megamall, Mr. Tan said the company will add more parking spaces and an indoor rooftop garden.

The company aims to modernize its existing malls with “open-air promenades, lifestyle zones and sustainable features.”

“It’s going to be very, very exciting because we also engage global architects to really help us develop all these malls,” Mr. Tan said.

For this year, the company said it is on track to open SM City La Union next month, while SM City Zamboanga’s opening has been moved to the first quarter of 2026.

“Because of some delays in the construction because of the distance. A lot of contractors are from Manila and they have some difficulty with the manpower. But I’ve seen the progress, and we’re ready to open that first quarter next year,” Mr. Tan said.

Over the next five years, SM is targeting the development of landmark flagship malls every year. These include SM Sta. Rosa in Nuvali slated for completion by 2026; Harrison Plaza in Manila by 2027; SM Malolos in Bulacan by 2028; Cavite by 2029; and Pasay by 2030.

Aside from building new malls, he said the company is relying on its redevelopment and expansion initiatives to meet its target of 100 malls in its portfolio by 2027.

“We’re not just growing here in Metro Manila or in Luzon, but we are also expanding our footprint all the way from Visayas to Mindanao. And we’re not just opening regular malls in those areas, we’re also opening flagship malls because if the market is ready, we’re there to serve them,” Mr. Tan said.

SM Supermalls, a unit of SM Prime Holdings, Inc., is one of Southeast Asia’s largest mall developers with 88 malls in the Philippines.

SM Prime shares rose by 1.32%, or 30 centavos, to P23 apiece on Thursday.

Downton Abbey cast bid farewell in final film outing

A scene from Downton Abbey: The Grand Finale.

LONDON — The Downton Abbey cast bid farewell to the franchise with a third and final film, 15 years after the period drama first aired as a television series and gained a huge following in Britain and the United States.

Downton Abbey: The Grand Finale sees the fictitious Crawley family and their servants running a sprawling English country estate in the early 20th century now entering the 1930s, with patriarch Robert Crawley (Hugh Bonneville) ready to hand over the reins to his daughter, Mary.

But Mary (Michelle Dockery) finds herself facing a public scandal, all while the family tackles new financial woes.

“(Creator and writer) Julian (Fellowes) has constructed a beautiful, if you like, love letter to the loyal audiences that we’ve garnered over the years,” Mr. Bonneville told Reuters at the film’s world premiere on Wednesday.

“I think those who follow the show will find it a very moving and I think appropriate way to wind up all of the stories.”

The film features plenty of other original cast members as well as new faces.

“It’s very emotional to say goodbye. We have done it a number of times… we always thought the TV show that was it, then we did one movie, and we’re like we should be so lucky,” actor Laura Carmichael, who played Mary’s sister Edith, said. “It’s nice to know this is it because we wanted to give it… the proper send-off.”

The award-winning Downton Abbey first aired as a series in 2010, originally set in 1912. It went on for six seasons and was followed by two previous films released in 2019 and 2022.

“We wanted to prove that the people who’d prophesied that period drama was finished, we wanted to prove them wrong. But I don’t think it was more than that,” Mr. Fellowes said of when the show first started.

“At the beginning we thought we might get maybe two or three series out of it, but we didn’t think we’d become a kind of world phenomenon.”

Downton Abbey: The Grand Finale hits Philippine cinemas on Sept. 10. The MTRCB has given it a rating of PG. — Reuters

Margin pressure to weigh on PHL banks’ earnings growth

REUTERS

THE SLOWER income growth posted by most listed Philippine banks in the second quarter is likely to continue for the remainder of the year as easing interest rates continue to affect their margins.

“The slowdown in net income growth was expected, given the environment of declining interest rates… Overall, we expect this trend to continue, with overall profitability declining except for some outliers,” AP Securities, Inc. Research Head Alfred Benjamin R. Garcia said.

“We’re already seeing asset quality taking a hit from the aggressive expansion into consumer lending, and we expect some provisioning for bad loans impacting earnings down the line.”

The Philippine banking industry’s combined net income grew by 4.14% year on year to P198.14 billion in the six months through June from P190.26 billion a year ago, according to data from the Bangko Sentral ng Pilipinas (BSP).

Meanwhile, the sector’s gross nonperforming loan (NPL) ratio dropped to a three-month low of 3.34% in June from 3.38% in May and 3.51% in the same month last year.

The BSP has cut benchmark borrowing costs by a cumulative 150 basis points (bps) since it began its easing cycle in August 2024, with the policy rate now at 5%.

BSP Governor Eli M. Remolona, Jr. said last week that the key rate is now at the “sweet spot” in terms of inflation and output.

He added that they could consider further policy loosening if the economy weakens “considerably,” with one more cut still possible this year that could mark the end of its current easing cycle.

Mr. Garcia said Philippine National Bank (PNB) was a standout in the second quarter as its net profit rose by 28.95% year on year to P6.43 billion in the period.

PNB, Bank of the Philippine Islands (BPI) and Security Bank Corp. also bucked the trend of declining net interest margins, he said.

First Metro Investment Corp. Head of Research Cristina S. Ulang noted that the country’s biggest banks in asset terms, namely, BDO Unibank, Inc., Metropolitan Bank & Trust Co., and BPI posted average profit growth of 5% in the first semester.

“The top three banks maximized their earnings growth potential in spite of the more challenging net interest margin environment by lending aggressively and growing fee income,” Ms. Ulang said.

These three lenders also recorded better NPL ratios in the period, she added.

BDO’s net income was flat year on year at P20.985 billion in the second quarter. This brought its first-half net earnings to P40.76 billion, up by 3.12% from the same period in 2024.

Meanwhile, Metrobank’s net profit rose by 8.44% to P12.59 billion in the three months through June. For the first semester, its earnings increased by 5.25% year on year to P24.85 billion.

Lastly, BPI’s net income went up by 7.02% to P16.44 billion in the second quarter, bringing its six-month profit to P32.96 billion, rising by 7.83% year on year.

“Banks’ top lines remain robust, but bottom lines have been trimmed as institutions invest in long-term growth,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan added.

“Some are expanding their reach by opening branches in untapped areas, while others enhance IT capabilities for seamless digital banking. These initiatives may weigh on short-term profitability but are ultimately beneficial for sustaining long-term competitiveness and growth.”

RATE CUTS TO DRIVE LENDING
Monetary policy actions here and in the United States will affect Philippine banks’ income prospects moving forward, Mr. Limlingan said, with further cuts likely to drive demand for credit and investment gains.

“We see loan growth and interest income as the key drivers of bank profitability for the remainder of the year, especially with holiday spending set to kick in over the next few months,” he said.

Meanwhile, even as more banks expand their consumer lending business for margin growth, asset quality risks remain low, he added.

“We are seeing banks expand their loan portfolios in the consumer segment which, by nature, carries a riskier profile compared to institutional lending. However, many banks have maintained, if not improved, their NPL ratios this year.

This indicates that banks remain meticulous in assessing the creditworthiness of their retail borrowers and are not compromising asset quality despite the steady growth in their loan portfolios.”

However, the weak global trade environment due to growing protectionism among major economies could pose an indirect risk to banks’ earnings as this could affect their borrowers’ operations and, in turn, their capacity to repay their loans, Mr. Limlingan said. — Aaron Michael C. Sy

Stuff to Do (09/05/25)


View great art, listen to a lecture, and have tea at The Pen

THE Peninsula Manila has unveiled large-scale artworks by National Artist Federico Aguilar Alcuaz. Curated by Ricky Francisco of Fundacíon Sansó, the latest Art in Resonance program features three never-before seen abstract Art Protis tapestries by the renowned late national artist. The large-scale works are now on display at The Lobby until Sept. 30. This installation is the latest iteration of Art in Resonance, The Peninsula Hotels’ global contemporary arts program dedicated to supporting exceptional local and international artists, while creating deeply immersive art experiences for guests and visitors. In tandem with the exhibition, The Pen is offering guests a special Federico Aguilar Alcuaz Art in Resonance Afternoon Tea menu inspired by the artist’s works. It is available at The Lobby throughout the duration of the exhibit. The Art in Resonance Afternoon Tea is available at P3,290 per set and P5,290 with a flute of Champagne (exclusive of taxes). Meanwhile, at The Conservatory on Sept. 6, 2 p.m., the hotel will present a talk and film showing by Christian Aguilar, the National Artist’s son. The talk is complimentary, and seats are available on a first-come, first-served basis. The highlight of the talk is a 15-minute film on Aguilar Alcuaz’ works. The talk will be followed at 3 p.m. by the opening of Homage to Alcuaz, a special exhibition of over 40 paintings by young and mid-career artists honoring the national artist, including works by scholars of Fundacíon Sansó. The exhibition will be held at The Upper Lobby and will run from Sept. 6 to 7. For inquiries about the talk and the afternoon tea, call 8887-2888, extension 6694 for restaurant reservations, e-mail diningpmn@peninsula.com, or visit peninsula.com.


Go shopping with TikTok at Gateway

A TIKTOK SHOP activation has been mounted at the Quantum Skyview, Upper Ground B of Gateway Mall 2 in Araneta City, Cubao, Quezon City. It is meant to kick off TikTok’s 9.9 All-Out Shopping Sale by featuring various brands and deals. Its goal is to allow mallgoers to experience the energy, trends, and buzz of TikTok’s shopping scene in person. It runs until Sept. 9.


Watch Dear Evan Hansen at Solaire

GMG Productions presents the Manila run of the UK touring production of Tony Award-winning musical Dear Evan Hansen at The Theatre at Solaire in Parañaque from Sept. 4 to Oct. 5. It tells the story of Evan, an anxious high school student longing for a sense of belonging, and features music by Benj Pasek and Justin Paul and a book by Steven Levenson. It stars Ellis Kirk in the titular role. Tickets are available through TicketWorld.


Attend a concert with Arthur Espiritu and young singers

THE concert Serenade: An Evening of Songs with Arthur Espiritu and Friends will take place on Sept. 5, 7 p.m., at Manila Pianos Showroom, Ronac Lifestyle Center, Paseo de Magallanes, Makati City. The show features 15 young singers who will showcase their vocal prowess and musicality after undergoing an intensive four-day workshop under the tutelage of Filipino tenor Arthur Espiritu. The concert will also feature Najib Ismail as pianist. For tickets, call 0920-954-0953, 0918-347-3027 or reach out via www.veniccio.com.


Catch the translation of a Pinter play

STAGES Production Specialists, Inc., with MusicArtes, Inc., presents an adaptation of Betrayal by Harold Pinter. Titled Kaliwaan, it is a Filipino translation by Guelan Varela-Luarca, directed by Loy Arcenas and starring Missy Maramara, Nor Domingo, and Ron Capinding. Its final weekend of performances on Sept. 5 to 7 — an extension from its August run — will be staged at The Mirror Studio Theater, SJG Bldg., 8463 Kalayaan Ave., Makati City. Tickets can be purchased through the Google Form here: https://bit.ly/KaliwaanMNL2025.


Celebrate Darna’s 75th anniversary at Comic Con

THE legendary Filipina superhero Darna is making a stop at SuperManila Comic Con 2025 on Sept. 6 and 7 at the Space, One Ayala, Makati City. An exhibit titled From Panels to Legacy: Lipad Darna will feature an array of memorabilia, a special tribute to Darna’s creators, and a heroic photo wall. Costumes from the ABS-CBN series Mars Ravelo: Darna that were worn by Jane de Leon as Darna and Janella Salvador as Valentina, will also be on display. Darna 75th commemorative shirts (in navy, royal blue, gray, and fern green) are available for pre-order via the ShirtsandPrintsPH Facebook account.


Check out Lexus’ pop-up for pets at Mitsukoshi

LEXUS will have a pet-friendly pop-up on Sept. 6 and 7 at Mitsukoshi Mall, Bonifacio Global City. It offers a series of workshops where pet owners can personalize dog accessories to take home. In partnership with LuxuriPets, the pop-up is co-hosted by “lifestyle influencer” Z Teo. Guests can join a workshop led by Romina of Bork and Hookies, which presents all-natural, human-grade, and zero-sugar ingredients for healthy gourmet pet treats. There will be recipe guides to take home. Participation is on a first-come, first-served basis. Registration can be done here: https://brnw.ch/21wVoh7.


See a mall fashion show by Ligaya Couture

A FEMALE-LED fashion collective, Ligaya Couture, is set to present a fashion show under the theme “Myths and Majesty,” featuring 80 to 100 children and teens. Known for bold, youth-inspired designs, the brand aims to highlight its unique collections. The show takes place on Sept. 7 at the activity area of Farmers Plaza in Cubao, Quezon City.


Visit Robinsons Department Store’s beauty fest

A WIDE RANGE of beauty products will be showcased at Robinsons Department Store’s BeYOUty Fest 2025. Running throughout September, it offers 50% off on select beauty items. Every Friday, the store’s FriDeals promo will give P200 off with a minimum spend of P1,500 at the Beauty Section. From Sept. 13 to 19 at Robinsons Manila Midtown Atrium, a BeYOUty Fest gathering will have activities, exclusive offers, and freebies from top beauty brands. From Sept. 22 to 30, a beauty caravan will also be going around various campuses and in Bridgetowne, Quezon City.


Catch the original Filipino musical Walang Aray

TWO YEARS after its debut, the original Filipino musical Walang Aray is back at the PETA Theater Center, running from Sept. 5 until Oct. 12. It is centered on the love story between Julia and Tenyong, set during the Philippine revolution of 1896. Many of the award-winning lead cast from 2023 are returning: Shaira Opsimar and Marynor Madamesila who alternate in the role of Julia, and Gio Gahol and Jon Abella as Tenyong. They are joined by a new cast member, Lance Reblando who also plays the role of Julia. Tickets are available through Ticket2Me.


Bring the kids to Rep’s Wonderland

REPERTORY THEATER for Young Audiences presents the fantastical world of Alice in Wonderland from Sept. 7 to Dec. 14. Based on the book by Lewis Carroll, with music and lyrics by Janet Yates Vogt and Mark Friedman, it is directed by Joy Virata and Cara Barredo. As Alice follows the rabbit into Wonderland, the production highlights audience participation with kids in attendance. It runs at the REP Eastwood Theater in Quezon City. For ticket inquiries and showbuying opportunities, message REP’s pages @repertoryphilippines, call 0962-691-8540 or 0966-905-4013, or e-mail info@repphil.org or sales@repphil.org.


Watch Alicia Silverstone’s comeback

A THRILLER starring Alicia Silverstone has landed on digital screens via Lionsgate Play. Titled Pretty Thing, the movie revolves around a passionate toxic affair between Sophie, a high-ranking executive portrayed by Ms. Silverstone, and Elliot, a young waiter played by Karl Glusman. The casual romance turns into a dangerous obsession when Sophie decides to end the relationship. It is available on Lionsgate Play via PLDT Home, Cignal, and Smart.


Listen to Shanti sing about rehab

FILIPINO hip-hop sensation Shanti Dope has dropped his most personal work yet with his new single “Rehab,” a track that chronicles his battle with addiction, the road to recovery, and the power of love as a driving force for change. It is out now on all digital music streaming platforms.

BPI eyes agentic AI for lending

BPI FACEBOOK PAGE

BANK of the Philippine Islands (BPI) is eyeing to use agentic artificial intelligence (AI) to facilitate parts of its lending process, its top official said.

“We are beginning a project where we are going to put our whole lending platform on AI and hopefully use agentic AI to service some of the loan approvals and loan processes,” BPI President and CEO Jose Teodoro K. Limcaoco told reporters on the sidelines of an event last week.

Mr. Limcaoco said they aim to roll out the project’s initial phase before yearend.

“That’s maybe a one- or two-year project, but we will do it in phases, and we hope to get the first phase up by maybe this December,” he said.

Agentic AI uses “agents” for specific tasks with minimal human supervision. These systems can work autonomously and make decisions based on data, probability, and patterns learned from interactions.

The official said BPI has already been tapping various AI-driven tools, particularly for customer service.

Last month, BPI revamped its digital assistant BEA Chat using an AI-powered ChatGPT platform. The chatbot can now accommodate service requests in real time, assist users with self-service transactions, and forward complex concerns to live agents. It is accessible 24/7 via the bank’s website and Facebook page.

“We’ve used it (AI) in credit modeling, but if you’re talking about the latest wave of AI, which is large language models and generative AI, then we do have a tool today that’s being used by the team where we are working off a ChatGPT platform where we ingested all our policies, procedures, and products. That way, our team is able to query our huge database… and get a consistent answer that we give to clients. So, that’s one,” Mr. Limcaoco added.

“We’re now also beginning to test what I would call AI-driven voice bots,” he said.

BPI’s net income rose by 7.02% to P16.44 billion in the second quarter to bring its first-semester profit to P32.96 billion. — Katherine K. Chan

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