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Negative list overhaul urged to expand foreign role in infra projects

Portions of the revetment wall along the Tullahan River collapsed in North Fairview, Quezon City, Aug. 29, 2025. — PHILIPPINE STAR/MIGUEL DE GUZMAN

THE PHILIPPINES should consider relaxing its restrictions on foreign participation in infrastructure procurement to attract more private sector financing, the Organisation for Economic Co-operation and Development (OECD) said.

In a report, “Addressing Legal and Regulatory Barriers to Quality Infrastructure Investment in India, Indonesia and the Philippines,” the OECD recommended that the Philippine government revisit its Foreign Investment Negative List (FINL), which outlines the industries where foreign investment is restricted due to national security, public safety, and public health concerns.

“The government may wish to reconsider the limitations included in the Foreign Investment Negative List relating to infrastructure procurement projects,” it said on Oct. 7.

“This could encourage more foreign private sector involvement in infrastructure financing in the Philippines, in line with (Quality Infrastructure Investment) QII Principle 2 on raising economic efficiency to ensure value for money over the project life cycle,” it said.

The OECD noted that in List A of the FINL, foreign investors are restricted to 40% ownership in infrastructure projects, private land, or public utilities, in compliance with its constitution.

It also noted the restrictions on joint ventures formed by two or more foreign entities, which require that at least 75% of the ownership be held by a Filipino person or entity.

Republic Act No. 12252, signed in September, now allows foreigners to lease land in the Philippines for up to 99 years.

“Leased land, especially for agricultural purposes, faces additional restrictions under the comprehensive agrarian reform law. Local government regulations, such as permits for agricultural land reclassification, further influence land use,” the OECD said.

“These constraints apply across all sectors, so even industries open to 100% foreign ownership under the Public Service Act must consider land-related limitations in infrastructure projects.”

The OECD said that although some reforms are in progress, the Philippines still faces challenges in land acquisition for infrastructure projects, including right-of-way acquisition, fair market value appraisals involving multiple entities, and time-consuming land conversion procedures. 

The organization also recommended that feasibility studies should assess risks related to Indigenous Peoples’ land rights, highlighting the need for inclusiveness and respect for human rights. — Aubrey Rose A. Inosante

Cement makers seek P600 safeguard duty on imports

PHILSTAR FILE PHOTO

THE Cement Manufacturers’ Association of the Philippines (CeMAP) said it is seeking an increase in the safeguard duty for cement imports to P600 per ton.

“We are happy that the Tariff Commission recognized the injury to the domestic industry. But we will be more than happy if they can grant our prayer,” Renato A. Baja, executive director of CeMAP, told reporters on Thursday.

He said the industry group is seeking a safeguard duty of P600 per ton, against the P349 duty recommended by the Tariff Commission.

“Well… it is not enough,” he said, adding that the P600 request more closely reflects the actual injury done to the industry.

According to CeMAP, the basis for the P349 duty is the difference between the factory gate price for cement, which was adjusted to compete with imported cement prices, and the landed price for imported cement.

“We can live with our prayers of our P600 per ton. We can survive with that,” he added.

The Tariff Commission had imposed the P349 duty on imports of ordinary Portland cement type 1 and blended cement.

Mr. Baja said the volume of imported cement must be reduced to preserve the market share of domestic manufacturers.

He said manufacturers have surplus capacity of about 30%, indicating that Philippine cement makers can service domestic demand.

He said that since the provisional safeguard duties were put in place, imports have declined 19%.

In February, the Department of Trade and Industry ordered provisional safeguard duties of P400 per metric ton or P16 per 40-kilogram bag in the form of a cash bond on imports of ordinary Portland cement and blended cement. — Justine Irish D.  Tabile

DA lifts ban on imports of live poultry from six countries

ARTEM BELIAIKIN-UNSPLASH

THE Department of Agriculture (DA) said it lifted a poultry import ban imposed on Azerbaijan, Kazakhstan, Saudi Arabia, Slovenia, Sweden, and the Malaysian states of Kelantan and Sabah.

It said the Bureau of Animal Industry declared it safe to allow imports again after all six countries reported no new cases of bird flu.

The ban had covered live domestic birds and wild birds.

The World Organisation for Animal Health estimates the bird flu incubation period at 2-5 days on average, and monitors outbreak sites for new cases before clearing that country’s poultry industry. — Andre Christopher H. Alampay

Flood control mess shakes investor confidence, says SEC chief

STOCK PHOTO | Image by Jcomp from Freepik

Editor’s note: Securities and Exchange Commission (SEC) Chairperson Francisco Ed. Lim on Oct. 9 retracted his earlier claim that P1.7 trillion in market value was wiped from listed companies in just three weeks due to the corruption scandal.

(UPDATE) A widening corruption scandal involving flood control projects has shaken investor confidence, according to Securities and Exchange Commission (SEC) Chairperson Francisco Ed. Lim.

“The flood control project scandal has shaken public confidence,” Mr. Lim said in a speech at the 57th annual conference of the Financial Executives Institute of the Philippines (FINEX).

He said investors are fleeing the market because of “weak integrity,” not weak fundamentals.

“It’s a stark reminder that corruption is a weapon of mass wealth destruction,” he said.

“When trust breaks down, capital dries up, and everyone — government, business, and the public — pays the price.”

In recent weeks, markets have been rattled by the widening probe into corruption in government projects, particularly flood control. 

Mr. Lim said the stock market is a laggard, reflecting a crisis of confidence.

“Too many firms still hesitate to go public, while others who have chosen to go public are leaving the stock market. This is not just a market issue. It’s a trust issue,” he said.

“Rebuilding the trust is one of the SEC’s most urgent missions.”

Top Line Business Development Corp., a Cebu-based fuel distributor and retailer, remains the sole company to have conducted an initial public offering (IPO) and listed on the PSE this year. Meanwhile, Maynilad Water Services, Inc. is set to make its market debut on Nov. 7.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said some of the biggest PSEi members experienced sell-offs.

“Sell-offs occurred due to market sentiment being weighed down by political noise, especially since last month, despite solid economic and corporate fundamentals and valuations,” he said in a Viber message.

AP Securities, Inc. Research Head Alfred Benjamin R. Garcia said there is increasing negative sentiment towards companies and sectors that could be potentially affected by the widening corruption probe such as banks, casinos, luxury property developers, automotives and car dealerships.

“In particular, there are growing calls to demand accountability from banks as they serve as conduits for misappropriated funds. Casinos were also mentioned as establishments frequented by personalities connected to the scandal and there’s speculation that demand for luxury property and cars were propped up by money from corruption,” Mr. Garcia said in a Viber message.

He said there could be an overcorrection in the infrastructure sector as increased oversight could slow the implementation of projects.

“This would have a negative impact on GDP and more broadly speaking, on economic development,” Mr. Garcia said.

On Thursday, Mr. Lim retracted his earlier claim that P1.7 trillion in market value was wiped from listed companies in just three weeks due to the corruption scandal.

He apologized for the confusion caused by his statement.

“My sole intent was to underscore the vital importance of integrity in our markets and the devastating impact corruption can have on investor confidence,” Mr. Lim said. — Alexandria Grace C. Magno

Full-force TNT launches bid for Philippine Cup title in Season 50

TNT Tropang 5G

Games on Friday
(Ynares Center-Montalban)
5:15 p.m. – Terrafirma vs Blackwater
7:30 p.m. – Phoenix vs TNT

TNT feels the itch as it launches a renewed bid for the PBA Philippine Cup title that eluded them in their near-grand slam run the previous season.

“If you look back at last season, I thought we performed pretty well. So, it’s a matter of continuing that,” said coach Chot Reyes, whose Tropang 5G won the Season 49 Governors’ Cup and Commissioner’s Cup then valiantly fought San Miguel Beer with a hobbling crew before settling for runner-up honors in the All-Filipino.

“We are by no means satisfied with how we finished the season and we hope to be able to improve on our last all Filipino placing,” he added.

Rey Nambatac returns to action after missing the Philippine Cup playoffs due to injury while Calvin Oftana, RR Pogoy and Jordan Heading are back in full strength after playing hurt in the finale.

TNT also loaded up with veteran Kevin Ferrer, athletic wing Tyrus Hill and guard defense-oriented guard Jio Jalalon ahead of its Season 50 Philippine Cup debut on Friday against Phoenix at the Ynares Center-Montalban.

“Our goal really for this season is to be the best at the things that take no talent. And that’s what for us TNT stands for. We might not be the biggest, most talented team in the league, but we strive to be the best in the things that take no talent — hard work, effort, team-manship, doing the extra mile, caring for each other,” said Mr. Reyes.

“We hope to be the best in those things in the TNT and hopefully, that would be enough to allow us to compete against the other more talented and bigger teams in the tournament.”

First up are the Fuel Masters, who are on a rebuilding phase under new coach Willy Wilson. Jayson Perkins, RJ Jazul, Ricci Rivero, Tyler Tio, Kai Ballungay and the rest are poised to give Mr. Wilson a winning debut at 7:30 p.m.

Meanwhile, Terrafirma seeks the same for debuting mentor Ronald Tubid in the 5:15 p.m. curtain raiser against Blackwater.

But the Dyip led by Louie Sangalang and Mark Nonoy have their hands full with the Jeff Cariaso-coached Bossing featuring holdovers such as Sedrick Barefield, Christian David and RK Ilagan and added No. 3 pick Dalph Panopio and fellow rookie Jack Dumont to the mix.

Notes: Rain or Shine veteran Gabe Norwood, 40, is hanging up his jersey after the All-Filipino campaign. “I want to share with you all that the upcoming Philippine Cup will be my last,” the 2009 Rookie of the Year announced in a video message on Thursday. “One last conference, one last ride, one last flight.” — Olmin Leyba

Miller, San Beda battle JRU Bombers in NCAA 101

FACEBOOK.COM/NCAA.ORG.PH

Games on Friday
(MOA Arena)
9:30 a.m. – LPU vs SSC-R (jrs/srs)
2:30 p.m. – San Beda vs JRU (srs/jrs)

THE San Beda University Red Lions program has tirelessly searched abroad for one talent they hope would end up as the key in unlocking their NCAA championship aspirations.

They found one in the Bay Area, California in athletic wing Janti Miller.

Mr. Miller has been carrying most of the load for San Beda in its first two wins and he is expecting to do more when they battle an unpredictable Jose Rizal University (JRU) on Friday in NCAA Season 101 at the MOA Arena.

With the 21-year-old, 6-foot-4 Mr. Miller doing most of the damage, the Red Lions have bested a pair of contenders in the College of St. Benilde Blazers and the Colegio de San Juan de Letran Knights and should remain unbeaten and atop Group B with another win over the Bombers (1-1) in their 2:30 p.m. duel.

Mr. Miller was nothing less than spellbinding in his first two outings where he averaged a team-high 19 points.

And what’s more impressive was he had done all that off the bench.

“I’m very impressed that despite his talent and caliber, he has accepted the role,” said San Beda coach Yuri Escueta of Mr. Miller.

The Bombers aren’t one to just back away that easily as they’ve shown ability to pull the rug from fancied teams as evidenced by their shock triumph over the Letran Knights.

Also seeing action at noon are Lyceum of the Philippines University (0-2) and San Sebastian University (0-2). — Joey Villar

Blue Jays’ bullpen shuts down Yankees, seals ALDS in Game 4

NEW YORK — Toronto Blue Jays manager John Schneider made seven pitching changes on Wednesday.

A few hours later, Schneider gave a short speech in the clubhouse and launched the celebration by yelling “Start spreading the news!” while the Blue Jays doused each other with champagne and beer after wrapping up the American League Division Series (ALDS) against the New York Yankees.

Loud music blared, including “Theme from New York, New York,” the song that plays every time the Yankees win a home game, as the Blue Jays partied.

Jeff Hoffman finished off a four-out save as the Blue Jays used eight pitchers in a bullpen game that resulted in a 5-2 win, clinching the best-of-five series in Game 4.

Toronto advances to the American League Championship Series for the first time since 2016, when it lost in five games to Cleveland. The Blue Jays will host the Seattle Mariners or the Detroit Tigers on Sunday.

The Blue Jays outscored the Yankees 34-19 in the first postseason meeting between the AL East rivals. Toronto won 11 of the teams’ 17 meetings this year, including an 8-5 mark in the regular season to get home-field advantage in the playoffs after the teams were tied atop the AL East with 94 wins.

Hoffman allowed a two-out RBI single to Aaron Judge when he was one strike away from ending the game, but he quickly secured the celebration that began on the mound and spilled into a raucous clubhouse when he fanned Cody Bellinger on a splitter — the same pitch that gave the Yankees extensive trouble in Games 1 and 2 in Toronto.

“You’re kind of mapping out best possible scenarios, and the guys have to go do their part,” Schneider said of running through his bullpen in a close-out contest. “Again, it’s not fun, per se, but I think we view it as a good challenge. And our guys have really kind of accepted that this year and done really well with it.”

Hoffman entered in the eighth after Braydon Fisher allowed a two-out hit by Giancarlo Stanton and then walked Jazz Chisholm Jr. The Toronto closer walked pinch hitter Ben Rice to load the bases but needed only one pitch to retire Austin Wells on a flyout to left to quell the threat. — Reuters

A’ja Wilson’s last-second jumper sends Las Vegas Aces to 3-0 Finals lead

PHOENIX — Las Vegas coach Becky Hammon had a succinct summary of her final play call on Wednesday.

“We give the ball to A’ja and get out of the way,” Hammon said.

As it often does, A’ja Wilson made it work.

League MVP Wilson hit a 7-foot fadeaway jumper with three-tenths of a second remaining to cap her third double-double of the series and the Las Vegas Aces survived a furious Phoenix comeback for a 90-88 victory over the host Mercury in Game 3 of the WNBA playoffs on Wednesday.

“I feel like, in that moment, if a coach has to tell me what to do I’m not doing my job,” Wilson said. “She just drew up a play, it wasn’t really even a play. I’m appreciative that Becky trusts me in those moments.

“Those are playoff basketball moments, those are the moments that you live for. I’m glad I was able to show up.”

Wilson took an entry pass from Chelsea Gray and shot from the left side of the lane over Alyssa Thomas for the game-winner.

The Aces, who blew a 17-point lead in the fourth quarter before recovering, moved within one game of their third WNBA title in the last four seasons.

Wilson had 34 points and 14 rebounds, Jackie Young had 21 points and Jewell Loyd added 16 to give the Aces a 3-0 lead in the league’s first best-of-seven championship series.

Thomas had 14 points, 12 rebounds and nine assists for the Mercury. DeWanna Bonner scored a team-high 25 points and Satou Sabally had 24 points before leaving due to an apparent head injury with 4:26 remaining.

After Wilson’s basket, the Mercury inbounded the ball on their end of the floor and Thomas found Bonner at the foul line extended. Bonner’s catch-and-shoot drew iron but did not fall.

The Mercury play host to Game 4 on Friday, with history stacked against them. The 1942 Toronto Maple Leafs are the only major North American professional sports team in history to come back from a 3-0 deficit and win a championship series.

“I don’t know how many teams have come back from oh-three,” Mercury coach Nate Tibbetts said. “Not many. I’m not going to sugarcoat that. We have a tough road ahead, but we have to take it one game at a time.

“This group has been a group that has continued to compete at a high level. We have a certain level of pride that we are going to keep fighting.”

Aces guard Chelsea Gray had 11 points, five assists, three steals and three blocks on her 33rd birthday for the Aces, who had eight steals and eight blocked shots.

The Aces opened a quick 21-8 lead in the first quarter keyed by Loyd’s four threes and extended a 12-point halftime lead to 17 entering the fourth quarter, relying on Wilson in the post and perimeter shooting from Loyd, Gray and Young.

They led 82-72 after Wilson’s basket before the Mercury rallied after the loss of Sabally, who was down on the floor for several minutes and helped while holding her head after colliding with an Aces’ defender on a drive to the basket. She did not return. There was no update on her status after the game.

Copper took the two free throws instead, and she scored 11 straight Phoenix points to gradually close the gap. Bonner tied the game at 86-86 — the first tie since 29-29 — on a long 3-pointer with 1:41 left. After Gray scored on a drive, Bonner made two free throws at 1:10 to re-tie it at 88-88. — Reuters

‘The Decision’

LeBron James has always known how to frame a moment. Fifteen years after “The Decision” turned a career choice into a made-for-television drama, he tried it again, but this time as parody or, perhaps, performance art. A “major announcement,” teased with cinematic gravity, sent fans into a frenzy of speculation and would-be profiteers scrambling for tickets to his projected last game. Was it retirement? A trade? A farewell? None of the sort, it turned out, but, rather, a commercial. The greatest player of his generation had built a marketing cliffhanger for a cognac partnership and, somehow, it felt perfectly on brand.

To be sure, what made the setup work was less the reveal than the choreography. James understands the mechanics of modern fame: Suspense is currency, ambiguity is reach, and narrative is the real product. He told a story first and sold a bottle second. The mystique drew millions into the conversation, each click and share amplifying a campaign disguised as a crossroads. It was self-aware theater, playing on the very nostalgia and curiosity he once claimed through sincerity. The joke, if at all, landed because it was too familiar — and, therefore, hard — to resist.

There’s also a certain logic to the indulgence. At 40 and with his legacy long secured, James’ every move has shifted from competition to curation. He is no longer merely a player with endorsements; he is a global brand calibrating meaning itself. The “announcement” transcended basketball and highlighted control. It was about owning the spotlight before it fades, about proving that relevance can be renewed even when the body begins to break down. In this day and age of athletes and influencers sharing the same stage, he has shown that he can write, direct, and star in his own mythology.

Still, the stunt invites retrospection on the line between showmanship and sincerity. Casual observers and longtime habitues of the sport alike expected a genuine decision, only to be baited into spectacle. In the aftermath comes risk, not of outrage but of erosion; the very act of marketing dressed as meaning makes the next one harder to believe. And, make no mistake? There will be a next one. That said, James has invariably operated at the intersection of ambition and audacity, and the gamble in and of itself seems part of the plan. He has turned attention into art form, even when it teeters on excess.

For all intents, the “Second Decision” wasn’t about leaving the game but about staying in the story. It was a declaration of continuity, a reminder that James is still the face of the National Basketball Association, still setting the tone and still scripting the moment. Never mind that the stakes are manufactured. Others might establish legacy through trophies; he’s chasing it through authorship. And in a culture where narrative often outlasts achievement, it may be his most strategic move of all.

 

Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994. He is a consultant on strategic planning, operations and human resources management, corporate communications, and business development.

PHL sees higher demand for Generative AI courses 

Coursera’s Managing Director for Asia Pacific Ashutosh Gupta. — ALMIRA S. MARTINEZ 

Online training service Coursera said on Thursday that the Philippines has the highest course enrollment in Southeast Asia, highlighting rising demand for generative artificial intelligence (GenAI) courses. 

“In the Philippines, learners have already logged 18,000 hours of generative learning on Coursera. That is equivalent to nine years of learning back into just three years,” Coursera Managing Director for Asia Pacific Ashutosh Gupta told reporters in a media briefing. 

“This makes GenAI the most in-demand skill in Coursera’s history yet,” he added. 

Data from Coursera in June revealed that there are 125,000 enrollments for GenAI courses across the country. Meanwhile, one enrollment happens every nine minutes this year, up from the 15 minutes logged a year earlier. 

Mr. Gupta noted that the “intense media attention to the new skills” influenced the trend for upskilling in AI. To meet the demand, the platform has doubled its catalog on the said topic. 

GenAI courses and projects available on the platform increased from 500 to more than a thousand this year. The most in-demand courses for Filipinos cover topics such as social media management and introduction to GenAI from tech giants Google, Meta, and IBM. 

“We haven’t hit the peak, and I think there is more to come in this story,” Mr. Gupta said. 

The desire to earn higher salaries and have expanded career options could also cause the rising demand for AI upskilling, according to the Coursera executive. 

A report by Google Philippines and consulting firm Public First said that AI could potentially increase wages by over 6% through increased productivity and higher value of hours worked. 

“Some of the AI skills are getting a premium a lot more because there’s a very small number of people who have the right skills,” said Mr. Gupta. 

“If you have the right skills and there’s a demand for it, then you can absolutely charge a premium for it, especially what’s happening with AI because the demand is very, very high right now,” he added. 

The Philippines ranked 60th out of 109 countries on Coursera’s 2025 AI Maturity Index, with Millennials (61%) leading the adoption, followed by Generation Z (19%), Gen X (18%), and Boomers (2%). — Almira Louise S. Martinez

Israeli hostages may be released as early as Saturday after Gaza ceasefire deal

VECTONAUTA-FREEPIK

JERUSALEM — Israeli hostages may be released as early as Saturday under a US plan to end the war in Gaza and the country’s military will complete the first part of a partial withdrawal from the enclave within 24 hours of the deal being signed, said a source briefed on details of the agreement.

The signing of the agreement on the first stage of US President Donald J. Trump’s initiative for Gaza is expected to take place at noon Israel time (0900 GMT) on Thursday.

Israelis and Palestinians rejoiced after Mr. Trump announced that a ceasefire and hostage deal was reached under the first phase of his plan to end a war in Gaza that has killed more than 67,000 people and reshaped the Middle East.

Just a day after the second anniversary of Hamas militants’ cross-border attack that triggered Israel’s devastating assault on Gaza, indirect talks in Egypt yielded an agreement on the initial stage of Mr. Trump’s 20-point framework to bring peace to the Palestinian enclave.

The accord, if fully implemented, would bring the two sides closer than any previous effort to halt a war that had evolved into a regional conflict, drawing in countries such as Iran, Yemen and Lebanon, deepened Israel’s international isolation and reshaped the Middle East.

“Thank God for the ceasefire, the end of bloodshed and killing,” said Abdul Majeed abd Rabbo, a man in the southern Gaza city of Khan Younis.

“I am not the only one happy, all of the Gaza Strip is happy, all the Arab people, all of the world is happy with the ceasefire and the end of bloodshed.”

But the agreement announced by Mr. Trump late on Wednesday was short on detail and left many unresolved questions that could still lead to its collapse, as has happened with previous peace efforts.

“I am very proud to announce that Israel and Hamas have both signed off on the first Phase of our Peace Plan,” Mr. Trump said on Truth Social.

“This means that ALL of the Hostages will be released very soon, and Israel will withdraw their Troops to an agreed upon line as the first steps toward a Strong, Durable, and Everlasting Peace,” Mr. Trump added.

Successful completion of the deal would mark a significant foreign policy achievement for the Republican president, who had campaigned on bringing peace to major world conflicts but has struggled to swiftly deliver, both in Gaza and on Russia’s invasion of Ukraine.

Israeli Prime Minister Benjamin Netanyahu said he would convene his government on Thursday to approve the agreement.

“With the approval of the first phase of the plan, all our hostages will be brought home,” he said in a statement. “This is a diplomatic success and a national and moral victory for the State of Israel.”

The conflict upended the Middle East in Israel’s favor after it assassinated the leaders of Tehran-backed Hamas and Lebanon’s Hezbollah and killed top Iranian commanders and pounded Yemen’s Houthis.

But global outrage has mounted against Israel’s assault. Multiple rights experts, scholars and a UN inquiry say it amounts to genocide. Israel calls its actions self-defense after the 2023 Hamas attack.

Hamas confirmed it had reached an agreement to end the war, saying the deal includes an Israeli withdrawal from the enclave and a hostage-prisoner exchange.

“We affirm that the sacrifices of our people will not be in vain, and that we will remain true to our pledge — never abandoning our people’s national rights until freedom, independence, and self-determination are achieved,” Hamas said.

Gaza authorities say more than 67,000 people have been killed and much of the enclave has been flattened since Israel began its military response to the Hamas cross-border attack on Oct. 7, 2023.

Around 1,200 people were killed and 251 were taken hostage back to Gaza, according to Israeli officials, with 20 of the 48 hostages still held believed to be alive.

“These are moments that are considered historic moments, long awaited by Palestinian citizens after two years of killing and genocide that was committed with arrogance against the Palestinian people,” said Palestinian Khaled Shaat in the city of Khan Younis in Gaza.

Despite the hopes raised for ending the war, crucial details are yet to be spelled out, including the timing, a postwar administration for the Gaza Strip and the fate of Hamas.

HOSTAGE RELEASE EXPECTED IN DAYS
Families of Israelis held hostage in Gaza gathered in what has come to be known as Hostages Square in Tel Aviv after the announcement.

“President Trump, thank you very much. We thank him, our children will not have returned home without him,” said Hatan Angrest, whose son Matan is among the hostages.

A Hamas source said the living hostages would be handed over within 72 hours of the Israeli government approving the deal. Hamas officials have insisted it will take longer to recover the bodies of dead hostages, believed to number about 28, from Gaza’s rubble.

Mr. Trump told Fox News’ Hannity program on Wednesday that the hostages will probably be released on Monday.

Mr. Netanyahu and Mr. Trump spoke by phone and congratulated each other on an “historic achievement,” and the Israeli prime minister invited the US president to address Israel’s parliament, according to Mr. Netanyahu’s office.

Hamas said earlier on Wednesday it had handed over its lists of the hostages it held, and the Palestinian prisoners held by Israel that it wanted to be exchanged.

The Islamist group has so far refused to discuss Israel’s demand that Hamas give up its arms, which the Palestinian source said Hamas would reject as long as Israeli troops occupy Palestinian land.

ARAB COUNTRIES SAY PLAN MUST LEAD TO PALESTINIAN STATE
Oil prices fell as the prospects of a ceasefire lessened one potential disruption to world supplies.

The next phase of Mr. Trump’s plan calls for an international body led by Mr. Trump and including former British Prime Minister Tony Blair to play a role in Gaza’s postwar administration.

Arab countries which back the plan say it must lead to eventual independence for a Palestinian state, which Mr. Netanyahu says will never happen.

There is no clear indication of who will rule Gaza when the war ends. Mr. Netanyahu, Mr. Trump, Western and Arab states have ruled out a role for Hamas, which has run Gaza since driving out Palestinian rivals in 2007.

Hamas has said it would relinquish Gaza governance only to a Palestinian technocrat government supervised by the Palestinian Authority and backed by Arab and Muslim countries. It rejects any role for Mr. Blair or foreign rule of Gaza. — Reuters

China tightens rare earth export controls, targets defense, semiconductor users

An employee at a business center watches the Chinese national flag being raised, in Beijing, China Aug. 26, 2025. — REUTERS/MAXIM SHEMETOV

BEIJING — China tightened its rare earth export controls on Thursday, expanding restrictions on processing technology, barring unauthorized overseas cooperation and spelling out its intention to limit exports to overseas defense and semiconductor users.

The announcement from the Ministry of Commerce clarifies and expands sweeping controls announced in April that caused shortages around the world before a series of deals with Europe and the US eased but did not eliminate the supply crunch.

The controls are a major bargaining chip for China in its trade talks with the United States, and the tightening comes weeks ahead of a face-to-face meeting between Presidents Donald J. Trump and Xi Jinping in South Korea.

“From a geostrategic perspective, this helps with increasing leverage for Beijing ahead of the anticipated Trump-Xi summit in Korea later this month,” according to Tim Zhang, founder of Singapore-based Edge Research.

China produces over 90% of the world’s processed rare earths and rare earth magnets. The group of 17 elements are vital materials in products from electric vehicles to aircraft engines and military radars.

Restrictions on exporting the technology to make rare earth magnets will be expanded to more types of magnets. In addition, China will now also limit some components and assemblies that contain restricted magnets.

China is the world leader in rare earth technology and equipment used to recycle rare earths will now also require a license to export, adding it to the long list of processing technology already restricted.

The announcement also clarified for the first time some of the targets of China’s restrictions. Overseas defense users will not be granted licenses, the ministry said, while applications related to advanced semiconductors will only be approved on a case-by-case basis.

A day earlier US lawmakers called for broader bans on the export of chipmaking equipment to China. Samsung Electronics declined to comment while chipmakers TSMC and SK Hynix did not immediately respond to questions.

China’s rare earth shipments have been growing steadily over the past few months as Beijing granted more export licenses, although some users still complain they are struggling to get them.

In a nod to concerns about access, the ministry of commerce said the scope of items in its latest round of restrictions was limited and “a variety of licensing facilitation measures will be adopted.”

The new rules also bar Chinese companies working with companies overseas on rare earths without permission from the ministry.

Manufacturers overseas using any Chinese components or machinery must also apply for licenses to export controlled items, the ministry said. — Reuters

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