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Smart and MOONTON unveil revamped tournament format and Battle Trips for Mobile Legends: Bang Bang Professional League Philippines Season 14

PLDT mobile services provider Smart Communications, Inc. (Smart) and international gaming developer and publisher MOONTON Games are partnering for the 14th season of the Mobile Legends: Bang Bang (MLBB) Professional League Philippines (MPL PH) from Aug. 16 to Oct. 6. 

With its theme “Heroes Within,” MPL PH Season 14 will feature eight teams, namely Blacklist International (BLCK), Falcons APBren (FCAP), Fnatic Onic (FNOP), RSG Philippines (RSG), Smart Omega (OMG), Team Liquid Philippines (TLPH), TNC Pro Team (TNC), and the newly minted team AURORA (RORA), which will field celebrated esports athletes from various MPL teams.

The eight teams will compete for a US$150,000 prize pool and the opportunity to represent the country in the upcoming M6 World Championship in Kuala Lumpur, Malaysia, in November. 

New tournament format

Fans can expect a more intense and exciting season as MOONTON announces the Open Global Transfer System, which enables mid-season transfers between MPL and MDL teams within the MLBB Esports ecosystem. This means MPL teams may also tap agent imports from other MPL regions, including free agents.

Moreover, teams will play two best-of-three (BO3) matches against seven other teams, and their ranking will be based on points. The lower bracket final has also been changed to a best-of-seven series to determine the strongest opponent for the Grand Finals.

Get in on the action with Smart Battle Trips

As the official telco partner of MPL PH, Smart is also set to launch “MPL PH Smart Battle Trips,” which will give community heroes and student leaders a chance to watch the MPL matches live.  

Fans can also anticipate “Smart Heroes Within,” a content series highlighting the exceptional performances and season statistics of the MPL players. This series aims to celebrate the skill, strategy, and dedication of the league’s top players, providing fans with an insider’s view of the numbers defining the season’s most impressive plays.  

“Our longstanding partnership with MOONTON is one of our flagship esports collaborations aimed at empowering Filipinos with the best mobile gaming experience,” said Alex O. Caeg, Head of Smart Consumer Wireless Business.

“Smart has been a staunch advocate of Philippine esports because we’ve always believed that with the right support, Filipinos can dominate esports with our passion, talent, and skill,” said Lloyd R. Manaloto, First Vice-President, Prepaid Marketing, Content and Business Development of Smart.

On the other hand, avid esports fans can watch the action-packed games live anytime and anywhere on the Smart Facebook page and Smart Livestream App.

Enjoy a Seamless Gaming Experience with ‘No-Expiry’ Magic Data

Smart subscribers can now level up their mobile gaming experience with Smart Magic Data, which provides open-access data without expiry. With Magic Data, gamers can enjoy uninterrupted and immersive gameplay without constantly reloading. Subscribers may register to Magic Data by logging into the Smart App or their go-to mobile wallet app, dialing *123#, or heading to the nearest retailer or convenience store.

Smart powers MPL PH Season 14 with its superior mobile network, which was recently recognized for delivering the Philippines’ Best 5G Coverage Experience by independent network analytics from Opensignal.

Know more about how Smart enables subscribers to level up their gameplay by visiting https://smart.com.ph/prepaid.

 

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Philippines wants more liquidity in bonds to lure global funds

BLOOMBERG

The Philippines is looking to improve liquidity in its domestic government bond market, according to a top official, to make its debt more attractive to global funds.

National Treasurer Sharon Almanza told Bloomberg that authorities were trying to address foreign investors’ concerns. One of them is a lack of liquidity in the market.

“We are building a benchmark to make the securities in the domestic market liquid,” she said in a telephone interview. Investors “want the bonds to be tradable.”

She did not say what other measures might be taken to enhance turnover in the debt market or when any changes would take place.

Joining international financial benchmarks like the JPMorgan Chase & Co.’s emerging markets debt gauge can be a watershed moment for a country by facilitating inflows of overseas funds.

Accession to the US bank’s emerging market bond index might attract between $10 billion and $12 billion, according to an estimate by the Department of Finance cited by the Inquirer in an article published earlier this month.

As it stands, the Philippines has different types of local-currency notes, including a large portion of debt tailored to retail investors, which is often held until maturity. The country was excluded from a JPMorgan index earlier this year due to a lack of liquidity in its global peso notes.

The country also frequently sells US currency bonds. It raised $2.5 billion via such instruments this week.

Prior to joining a gauge, countries are typically placed on a watch list, and are encouraged to make various financial market reforms. India acceded to JPM’s flagship EM bond index in late June, having been under scrutiny for eligibility for three years.

Officials in Manila are also looking to resolve matters of taxation, Ms. Almanza said.

The country has a 20% withholding tax on interest income, according to PWC, though treaties with countries like the US and the UK provide for a lower rate. — Bloomberg

Pioneer Insurance salutes Filipino athletes’ Paris Olympic triumph

Nesthy collage: Two-time Olympic medalist Nesthy Petecio with Pioneer Insurance President and CEO Betty Medialdea, Pioneer Chairman Ernesto O. Chan, and Pioneer General Accident Head Jenny Tolentino during Pioneer’s courtesy call for the Philippine National Team last July 2023

Pioneer Insurance joins the whole nation in celebrating the historic achievements of our Pinoy athletes at the 2024 Paris Olympics. Pioneer has supported Team Philippines for over 30 years, providing 24/7 Personal Accident Insurance for athletes, coaches, and training staff as they pursue sporting excellence here and abroad.

Pioneer Group Head Lorenzo Chan, Jr. expressed his immense pride for the competitors. “Our athletes showed what dedication and a never-give-up attitude can achieve. May their incredible journeys inspire us to chase our dreams and make every moment count,” Mr. Chan shared.

The Philippines’ Olympic medal haul included two gold medals from Carlos Yulo in Artistic Gymnastics (Men’s Floor Exercise and Men’s Vault) and two bronze medals from Aira Villegas and Nesthy Petecio in Boxing.

Mr. Chan said these victories highlight the importance of adequate insurance coverage for athletes, especially during pre-game preparations and training.

“In sports, anything can happen. Our athletes can find confidence knowing that they have someone they can rely on every step of the way, and through injuries and victories,” Mr. Chan said.

Pioneer’s long-standing history with sports dates back to 1975 when it insured the iconic Thrilla in Manila heavyweight boxing bout between Muhammad Ali and Ali Frazier. Another significant milestone took place in 1991 when it was designated as the exclusive insurer of the Southeast Asian Games in Manila, where it extended P720 million worth of personal accident cover to all athletes and sportswriters from the nine participating countries.

Pioneer Group Head Lorenzo Chan, Jr., PSC Commissioner Bong Coo, Pioneer Insurance President and CEO Atty. Betty Medialdea with athlete medalists of the 32nd SEA Games last July 2023. Pioneer doubled the insurance cover of our SEA Games medalists.

In July 2023, Pioneer doubled the insurance coverage of the 2023 Southeast Asian Games medalists, most of whom competed in the Paris 2024 Olympics.

Mr. Chan expressed gratitude for the opportunity to support Team Philippines at the biggest sporting event. “We’re honored to have played a part in their success,” Mr. Chan added.

Pioneer is a leading insurer in the Philippines. It is committed to offering life and non-life insurance to clients from socioeconomic classes A to D. Its dedication extends to supporting national programs, including those that uplift our national team.

 

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US, Chinese officials to wrap up talks on Taiwan, military communication

REUTERS

BEIJING – US National Security Adviser Jake Sullivan met one of Chinese President Xi Jinping’s top military officials on Thursday as he wrapped up three days of talks in Beijing intended to ease simmering tensions between the two superpowers.

Sullivan was expected to push for enhanced working-level military to military communications in his session with General Zhang Youxia, vice chairman of China’s paramount military body, the Central Military Commission, White House officials said.

It is the first meeting between Mr. Zhang and a Biden administration official, and the first between a senior US official and a vice chair of the commission since 2018.

“Your request for having this meeting with me demonstrates the value the US government puts on military security and our military-to-military relationship,” Mr. Zhang said as the pair met at the Ba Yi Building – the headquarters of the People’s Liberation Army.

“I know it is rare that we have the opportunity to have this kind of exchange and given the state of the world and the need for us to responsibly manage US-China relations, I think it’s a very important meeting,” Mr. Sullivan replied.

Mr. Zhang is believed to be close to Mr. Xi and has survived turmoil in the country’s military ranks. Western and Asian diplomats say he is more powerful than China’s defense minister, who more frequently meets foreign officials.

Mr. Sullivan will also talk further with China’s top diplomat Wang Yi on Thursday, seeking to calm tensions ahead of the Nov. 5 US election.

With their teams gathering behind closed doors at a lush resort on the outskirts of the Chinese capital, items on the agenda are likely to include contrasting views over the Middle East and Ukraine, Chinese territorial claims from Taiwan to the South China Sea and trade.

In lengthy meetings on Wednesday, the pair discussed the prospect of fresh talks soon between Presidents Joe Biden and Xi Jinping as well as possible communications between theatre-level military commands – a long-sought demand from Washington.

“The key to the smooth development of China-US interaction lies in treating each other as equals,” Mr. Wang told Mr. Sullivan, according to state broadcaster CCTV.

“The two sides held candid, substantive, and constructive discussions on a range of bilateral, regional, and global issues,” the White House said.

In the final months of his presidency, Mr. Biden has pushed direct diplomacy to influence Mr. Xi and keep those tensions at bay; US Vice President Kamala Harris, the Democratic candidate in November’s election, would likely pursue a similar strategy.

However, many analysts aligned with former President and current Republican candidate Donald Trump see that approach as too soft in the face of China’s increasingly assertive foreign policy.

The US also wants China to take more action at home to prevent the development of chemicals that can be made into fentanyl, the leading cause of US drug overdoses, and reach an understanding about safety standards for artificial intelligence.

Beijing plans to express its disapproval over US tariffs on a range of manufactured goods and export controls targeting Chinese chip makers, and talk about its claims of sovereignty over democratically ruled Taiwan. – Reuters

Trump reposts lewd remark about Harris on his social media site

Reuters

Republican presidential candidate Donald Trump on Wednesday reposted a lewd social media remark about Vice-President Kamala Harris, the latest in a volley of demeaning attacks by Republicans against Mr. Trump’s Democratic rival.

The comment was made by another Truth Social media user, who wrote, below a picture of Ms. Harris and Mr. Trump’s 2016 Democratic rival, Hillary Clinton: “Funny how blowjobs impacted both their careers differently…”

The remark appears to be a reference to former San Francisco Mayor Willie Brown, who briefly dated Harris over two decades ago. A frequent right-wing line of attack against Ms. Harris is that Mr. Brown fueled her political ascent. The Clinton jab is a reference to her husband, former US President Bill Clinton, who had an affair with White House intern Monica Lewinsky in the 1990s.

The Trump campaign did not immediately respond to a request for comment on the post. The Harris campaign, Mr. Brown, Hillary Clinton, and Bill Clinton also did not immediately respond.

Mr. Trump’s amplification of the post comes amid a torrent of racist and sexist attacks from him and his allies against Harris, the first woman and first Black and South Asian person to serve as US vice president.

Since replacing President Joe Biden atop the Democratic ticket, Harris has surged in the polls and now leads Mr. Trump in most recent national surveys.

Mr. Trump has struggled to fully adjust to the new race, and still often muses about facing Mr. Biden, 81, in the Nov. 5 presidential election.

Mr. Trump has called Ms. Harris “crazy,” “nuts” and “dumb as a rock,” and has falsely suggested that she previously downplayed her Black heritage. Some of Mr. Trump’s donors and advisers want him to hew more closely to critiques of his rival’s policies, and members of the “Black Americans for Trump” coalition have warned that disparaging Ms. Harris could hurt him in his outreach to Black voters.

Mr. Trump has repeatedly defended his use of personal attacks.

Last year, Mr. Trump was found liable of sexually abusing writer E. Jean Carroll. Mr. Trump denied the allegations. – Reuters

Typhoon Shanshan makes landfall in Japan, killing 3 and snarling air traffic

By MODIS imagery from NASA's Aqua Satellite - EOSDIS Worldview, Public Domain, https://commons.wikimedia.org/w/index.php?curid=151897495
By MODIS imagery from NASA’s Aqua Satellite – EOSDIS Worldview, Public Domain, https://commons.wikimedia.org/w/index.php?curid=151897495

TOKYO – At least three people were killed in southwestern Japan on Thursday as Typhoon Shanshan made landfall in Kagoshima prefecture, bringing heavy rain and very strong winds as well as snarling air traffic and knocking out power to over a quarter million households.

Major automakers including Toyota 7203.T and Nissan 7201.T suspended operations in some or all of their domestic factories due to the storm.

The typhoon, with gusts of up to 55 meters per second (198 km per hour/123 mph), made landfall near Satsumasendai city located in the country’s southwestern island of Kyushu on Thursday morning, the weather agency said.

Authorities warned the storm could be one of the strongest ever to hit the region, and local governments have issued evacuation orders for millions of residents in several prefectures.

Three people were dead, one was missing, two were severely injured, and five suffered minor injuries because of the typhoon, Chief Cabinet Secretary Yoshimasa Hayashi said.

“As this typhoon is moving slowly, total amount of rain could be rather big,” Hayashi told a regular news conference.

Footage from public broadcaster NHK showed walls torn and window glass of buildings broken in Miyazaki city in southern Kyushu, with objects scattered on the street or hanging from utility poles.

More than 250,000 households in seven prefectures are experiencing power outage as of 9:00 a.m. on Thursday (0000 GMT), according to Kyushu Electric Power Co.

After hovering over Kyushu for the next few days, the storm is expected to approach the central and eastern regions, including the capital Tokyo, around the weekend, the weather agency said.

Airlines, including ANA Holdings 9202.T and Japan Airlines 9201.T, have already announced cancellations of more than 600 domestic flights. Train services have been suspended in many areas of Kyushu.

Typhoon Shanshan is the latest harsh weather system to hit Japan, following Typhoon Ampil, which also led to blackouts and evacuations, earlier this month. – Reuters

South Korea’s Yoon says $830 bln public pension fund needs urgent reform

South Korean President Yoon Suk-yeol. — REUTERS

SEOUL – South Korean President Yoon Suk Yeol said on Thursday the national pension fund, one of the world’s largest with $830 billion of assets, needs urgent reform to make it more equitable and to ensure income security for an ageing population.

There had been a loss of confidence in the pension system across generations and there was a need for fundamental and sustainable reform to restore the trust of those who needed it in retirement, Yoon told a televised briefing.

“Now is the time to fundamentally reform the national pension system that has the confidence of neither the elderly nor the youth,” he said.

Mr. Yoon said the contributions paid in must be increased to ensure the fund is sustainable and the rate of increase also differentiated between age groups to make it more equitable.

“We will pursue reforms that will be persuasive to the youth who will be paying into the fund the longest and will be receiving pension the last.”

“A pension system that leaves the elderly poor and young people suspicious must fundamentally be reformed,” he said.

South Korea’s public pension fund, established in 1988 and currently the world’s third-largest with 1,113.5 trillion won ($833.98 billion) in assets, is expected to be depleted by 2055 as payments start to outpace contributions from 2041.

The contribution rate into the pension scheme, which is mandatory for wage earners and business owners, is 9% of income, compared to 10.6% in the United States, 18.3% in Japan and an average of 15.4% for members of the Organization for Economic Co-operation and Development (OECD).

The average payout is 31.2% of average pay, compared to the OECD average of 50.7%, meaning South Korea’s elderly are among the poorest out of OECD economies.

Reforming the system has been a policy goal for a series of South Korean presidents but there has been little progress because of disagreements on how to approach the issue.

Mr. Yoon also said he was pushing ahead with ambitious healthcare reforms, saying the focus is now on improving the quality of medical care in essential disciplines and regions outside of large cities.

More than 10 trillion won will be invested over five years to improve services in those areas, he said.

Mr. Yoon’s push for healthcare reform has been met by strong objections from doctors, who reject his plan to increase the number of new medical students each year to address a shortage of physicians. Thousands of young doctors walked off the job in February in protest over the reforms, disrupting hospital services. – Reuters

Chinese Embassy in Philippines protests remarks made by Japan ambassador concerning South China Sea dispute

PHILIPPINE COAST GUARD PHOTO

BEIJING – China‘s embassy in the Philippines on Thursday said it had sent a diplomatic note of protest to the Japanese embassy in the Southeast Asian country concerning “irresponsible” remarks its ambassador made regarding the South China Sea‘s Sabina Shoal.

In a statement, the Chinese embassy said the comments displayed “ignorance of the facts and contained unwarranted accusations against China” after Japan‘s ambassador on Monday tweeted a video of a Chinese coastguard vessel under the words “another unacceptable development around Sabina Shoal”. – Reuters

Doctors debunk common health myths of Filipinos

by Patricia B. Mirasol, producer

Doctors dispelled common health myths in the August 22 event organized to discuss DECODE, a docuseries by private hospital group Metro Pacific Health (MPH) that aims to improve public health literacy and encourage health-seeking behavior.

Myths are beliefs perpetuated by their retelling. A January 2022 study in the Journal of Public Health said these misunderstandings and inaccurate knowledge can occur because “people in everyday life have limited time, cognitive resources, and/or motivation to understand complex scientific topics.”

“DECODE is our way of setting the record straight on health myths that many Filipinos still believe,” said Jessica C. Abaya, MPH’s group chief commercial officer.

“By addressing these misconceptions head-on, we aim to empower our community with the knowledge they need to make informed health decisions,” she said in the August 22 event.

One such misconception is that taking pre-exposure prophylaxis (or PrEP, a medication which can prevent HIV from taking hold in your body) is a license to practice unsafe sex.

PrEP is 99.9% effective in preventing HIV, said Dr. Benjamin G. Co, a pediatrician, infectious disease expert, and group chief medical officer of the MPH.

“Just because you’re taking PrEP, [however,] doesn’t give you the license to spread all other diseases,” he told the event’s media attendees.

“It’s not only HIV you can spread. Mpox [formerly known as monkeypox] is another one,” he added.

Mpox is an infectious, non-airborne disease that moves from skin-to-skin, during sexual encounters and other intimate forms of skin contact.

The Department of Health confirmed on August 28 two more cases of mpox, bringing the total number of cases since July 2022 to 14. Five of the 14 are active cases waiting for their symptoms to resolve.

Mpox cases 11 and 12 both admitted to close, intimate, and skin-to-skin contact with a sexual partner.

Breast cancer and heart disease, which are the leading causes of death in the Philippines, were among the other topics discussed at the roundtable.

Ischaemic heart diseases were the top cause of death in the country from January to November 2023, accounting for 19% of the total number. Neoplasms, on the other hand, came in second with 10.7%, the Philippine Statistics Authority reported.

“The absence of symptoms is not equal to absence of disease,” said Dr. Saturnino P. Javier, co-CEO and President & Chief Medical Officer of Makati Medical City, at the same event.

Heart disease, for instance, doesn’t only present with symptoms like chest pain.

“It can manifest in subtle ways, such as fatigue or shortness of breath. Less common symptoms might even include abdominal pain, back pain, and vision problems,” he said.

“This is why it’s crucial not to ignore any signs, no matter how minor they may seem, and to prioritize regular check-ups regardless of physical appearance,” he added.

An early diagnosis is better, according to Dr. Michelle M. Anlacan, head of the Dementia Center at Cardinal Santos Medical Center.

Ms. Anlacan talked about dementia, a group of diseases that affect the brain and impair a person’s ability to remember, think, and make decisions.

“The most recent medications for dementia are disease-modifying, but these are only for those with mild disease,” she said. For the later stages, “the medications are symptomatic.”

Inculcating health-seeking behavior and health literacy should start at a young age, Dr. Co told the attendees of the roundtable.

“We need to promote health education so we can empower people to make better judgements with their lifestyle,” he said.

Season two of DECODE is ongoing, with the first episode published last April.

 

MPH and BusinessWorld Publishing Corporation are both under the MVP Group of Companies.

Empowering communities through livelihood: The inspiring journey of Jasser June Cruz

Jasser June Cruz

In a world where economic stability is increasingly uncertain, individuals like Jasser June Cruz stand as pillars of hope, dedication, and inspiration. As an advocate for livelihood under The Project Eight Initiative, Jasser has committed his life to uplifting the lives of his fellow Filipinos, passionately focusing on raising awareness and providing opportunities for small and medium enterprises (SMEs). His mission is rooted in the belief that every Filipino deserves the chance to improve their quality of life, and he has made it his personal and professional goal to ensure that these opportunities are within reach for all.

Championing Small and Medium Businesses

Jasser’s advocacy is centered around the belief that empowering local communities through small and medium businesses is key to sustainable development. In a country where SMEs make up the backbone of the economy, Jasser understands the crucial role these businesses play in fostering economic growth and providing employment opportunities. He tirelessly works to promote the importance of SMEs, encouraging his kababayans to explore entrepreneurship as a viable path to financial independence and community development.

Through workshops, seminars, and hands-on support, Jasser educates aspiring entrepreneurs on the various aspects of running a business, from financial management to marketing strategies. His approach is not just about imparting knowledge but also about building confidence in individuals who may have the skills but lack the belief in their ability to succeed. Jasser’s enthusiasm is contagious, and his unwavering support has helped countless small business owners overcome challenges and achieve their dreams.

A Heart for the Community

What sets Jasser apart is his genuine love and concern for his community. He sees each small business as a stepping stone to a brighter future for families, neighborhoods, and ultimately, the nation. Jasser’s work is driven by a deep-rooted desire to uplift the lives of his kababayans, and he is relentless in his pursuit of this goal. Whether it’s through one-on-one mentoring or community outreach programs, Jasser is always ready to lend a helping hand, ensuring that no one is left behind in the journey toward prosperity.

A Loving Husband and Father

Beyond his professional achievements, Jasser June Cruz is also a devoted family man. As a loving husband and father, he draws strength and inspiration from his family, who serve as his anchor and motivation. His dedication to his advocacy is mirrored in the way he nurtures his relationships at home, always finding time to support and care for his loved ones. Jasser believes that a strong and loving family is the foundation of a successful and fulfilling life, and he carries this belief into his work, treating every person he helps with the same care and respect he shows his family. 

Looking Ahead

Jasser’s journey as an advocate for livelihood is far from over. He continues to explore new ways to support small and medium businesses, driven by the knowledge that his efforts are making a tangible difference in the lives of his kababayans. As he looks to the future, Jasser remains committed to his mission, with plans to expand his outreach and develop even more innovative programs to help entrepreneurs thrive.

Through his work with The Project Eight Initiative, Jasser June Cruz is not only helping to build stronger businesses but also stronger communities. His passion, dedication, and love for his people make him a true champion of livelihood, and his impact will be felt for generations to come. As he continues to empower others, Jasser’s legacy as a catalyst for positive change in the Philippines grows ever brighter.

 

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Puregold releases 16 shortlisted entries for CinePanalo Film Festival

The Puregold CinePanalo Film Festival has officially released a shortlist of 16 full-length films that were selected from among 141 entries looking to take part in the second year of the competition.

The 16 shortlisted projects and their respective directors are: Ahon by Rafael Mina; Co-love by Jill Singson Urdaneta; Dopamine by Sigrid Polon; Fleeting by Catsi Catalan; Food Delivery by Baby Ruth Villarama; Journeyman by Christian Paolo Lat & Dominic Lat; Olsen’s Day by JP Habac; Perlas sa Silangan by TM Malones; Princess Maryam by Julius Alfonso & Eric Cabahug; Reel Boyz by Rod Marmol; Sepak Takraw by Mes De Guzman; Si Sol at si Luna by Dolly Dulu; Stuck on You by Reeden Fajardo; Tagsibol by Tara Illenberger; Waiting Shed by Noel Escondo; and Washing Machine by BC Amparado.

Of the shortlisted established and up-and-coming filmmakers, only seven will be an integral part of the festival and each receive a P3,000,000 production grant from Puregold. The final selection will be screened at Gateway Cineplex 18 in Cubao on March 14-25, 2025.

 

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PHL eyes up to $2.5B from dollar bonds

PEXELS-PIXABAY

By Aaron Michael C. Sy, Reporter

THE GOVERNMENT is looking to raise between $2 billion and $2.5 billion from an offering of US dollar-denominated global bonds, Finance Secretary Ralph G. Recto said in a text message on Wednesday. 

In a statement late on Wednesday, the Bureau of the Treasury (BTr) said the Philippines began offering the triple tranche 5.5-year, 10.5-year and 25-year sustainable US dollar global bonds.    

“The Republic will partially allocate the 25-year Global Bond sale proceeds to assets under the Republic’s Sustainable Finance Framework,” the BTr said.

Moody’s Ratings said that the global bond offering will be benchmark-sized. A benchmark size for a dollar bond offering is $500 million.

Fitch Ratings assigned a “BBB” rating to the bonds, while Moody’s Ratings gave “Baa2” and S&P Global Ratings assigned “BBB+.” These mirror the Philippines’ issuer ratings.

Moody’s in a note said the bonds will be drawn from the Philippine government’s existing shelf program, which include tranches maturing in 2030, 2035, and 2049.

“The proceeds from the bonds are intended for general purposes including budgetary support,” it said.

Moody’s said part of the tranche maturing in 2049 is “also intended for eligible projects under the Philippines’ Sustainable Finance Framework.”

“We think demand for this will remain pretty solid considering that the outlook for the Philippines remains rosy given the improving fundamentals of the economy,” Bank of the Philippine Islands (BPI) Lead Economist Emilio S. Neri, Jr. said in a Viber message.

The government plans to borrow $5 billion this year, of which $2 billion was raised from the issuance of global bonds last May. This leaves $3 billion that has yet to be raised.

Mr. Recto previously said the government was also considering issuing Samurai bonds this year. The Philippines last issued Samurai bonds in April 2022, raising ¥70.1 billion.

“With easing monetary policy, many foreign firms can take advantage of the issue especially the ones located locally. Selling these bonds will be in favor of the National Government (NG) because of the weak US dollar and declining interest rates,” Union Bank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion said in a Viber message.

The BSP cut benchmark interest rates for the first time in almost four years to mark the start of a “calibrated” easing cycle amid an improving inflation and economic outlook. The Monetary Board slashed the target reverse repurchase rate by 25 bps to 6.25% from an over 17-year high of 6.5%.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said the timing of the offering is favorable.

“Relatively lower long-term interest rates that reduce the borrowing/financing costs of the NG amid appreciating peso exchange rate recently, thereby could reduce debt servicing of the NG,” he said in a Viber message.

The local unit closed at P56.281 per dollar on Tuesday, strengthening by 5.2 centavos from its P56.333 finish last Thursday, Bankers Association of the Philippines data showed. This was the peso’s strongest finish in almost five months or since its P56.255-per-dollar close on April 1.

Year to date, the peso has declined by 91.1 centavos from its P56.281 finish on Dec. 23, 2023.

“Some investors are also locking in interest rates before the Fed and other central bank rates go down further in the coming months,” Mr. Ricafort said.

The US Federal Reserve is widely expected to begin cutting interest rates in September following Chairman Jerome H. Powell’s dovish stance last week.

Analysts also expect the BSP’s easing cycle to continue until next year, with at least 100 bps in rate cuts seen in 2025.

The government’s borrowing program is set at P2.57 trillion this year, 20% of which will come from foreign sources.

The government borrows from external and local sources to fund a budget deficit capped at 5.6% of the gross domestic product.

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