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Style (04/07/25)

COS debuts spring/summer collection

ON April 2, COS returned to the runway for its first-ever show in Athens, presenting the brand’s Spring Summer 2025 collection. The runway was brought to life within the cavernous Dionyssomarble Quarry. The enveloping marble walls created a striking contrast to the collection’s clean minimalism and sculptural lines. Models descended a steel staircase, looping in and out of the cave, showcasing 35 looks. The collection explores precision in cut and signature detailing. The womenswear features softly sculptured silhouettes and draped elements, while tailoring is reimagined with a deconstructed sensibility. Cascading fabrics create fluidity, and ethereal transparency reveals glimpses of the body. The looks were finished with pointed suede mules, classic ballerinas, and minimalist knitted sock boots. A pared-back utility style in menswear takes center stage, emphasized through functional details. Classic styles are revisited with sleeveless tailoring. There are silk sets and Bermuda shorts offering a refined yet relaxed summer staple. Light summer leather jackets are layered over shirts with soft rib textures. The menswear garments are complemented by soft leather sandals or mule loafers. This season, COS also introduces a unique marbled print inspired by Renaissance paintings, created by pressing flower buds against a lens, capturing a soft blur with delicate details. The seasonal palette is built around off-whites, warm earth tones, and deep brown. Muted blues transition into rich navy, while soft terracotta adds vibrancy to womenswear. A classic shirt style is crafted from Materra Hydroponic Cotton — cotton grown in an indoor environment with controlled application of water and nutrients without the need for arable land or conventional irrigation. A selection of the show items is available immediately at COS stores and on cos.com.

Uniqlo opens new Imus roadside store

UNIQLO extends its reach south of Manila by opening its newest roadside store in the City of Imus, Cavite. The new store is found along the stretch of Aguinaldo Highway. It offers an expanded selection of LifeWear items for the entire family, while having access to a dedicated parking facility. Other features that are staples for all roadside stores across the country include PWD-friendly passageways, and app-to-in-store services such as Click and Collect for faster transactions. There are a number of promos marking the opening, including a free Uniqlo toiletry bag for shoppers with a minimum single-receipt purchase of P3,000 made between April 4 and 10. To avail of the item, customers must download the Uniqlo app and register as a member upon purchase. From April 4 to 10, shoppers at the Imus roadside store can get a free snack from Oishi by presenting a receipt at no minimum purchase, alongside their Uniqlo App Membership ID. The redemption period runs until June 9. The first 100 customers to queue at the new store will receive a free classic ensaymada from Baloy’s from April 11 to 13. There will also be a round of the popular Japanese capsule game, gachapon, featuring different prizes. Customers with a single-receipt purchase are entitled to play the game once for a chance to win a free voucher from select brand partners. Customers must be a registered member of the Uniqlo PH app to enter the promotion, running from April 11 to 13. Visit www.uniqlo.com/ph/en/ to learn more about Uniqlo Imus Roadside Store, #UniqloPH and #LifeWear.

Rustan’s releases summer promos

INDULGE in luxury at Rustan’s Beauty Source and unlock exclusive Rustan’s Beauty Addict member perks. Spend P30,000 and take home an Aranáz Theresa Mini Bag. The promo is ongoing until April 30. Meanwhile, every P5,000 spent at Rustan’s Beauty Source brings the customer closer to a vacation. Beauty Addict members have the chance to win a four-day, three-night stay for two at the exclusive North One Villa in Banwa Private Island, complete with roundtrip flights. Rustans.com partners with Joel’s Place from April 4 to 30. Indulge in a gelato or a summer drink at Joel’s Place and get a P500 Rustans.com gift voucher with a single-receipt spend of P5,000 and above online. From April 5 to 12, get three times more FSP Points when you purchase any regular-priced items at Joel’s Place in Glorietta 4. The Moments of Summer promos are ongoing at Rustan’s Makati, Shangri-La, Alabang, Gateway and Cebu.

Banana Republic goes White (Lotus, that is)

BANANA REPUBLIC, a Gap Inc. brand, in partnership with Warner Bros. Discovery Global Consumer Products, debuts an exclusive capsule collection inspired by HBO’s Emmy-winning TV series, The White Lotus. This limited-edition collection channels the show’s signature escapism and intrigue. “Our heritage, rooted in travel, meets the world of The White Lotus with a thoughtfully crafted collection that is both aspirational and attainable,” said Meena Anvary, head of marketing for Banana Republic. Taking its cues from the series’ third season, set in Thailand, The White Lotus x Banana Republic 24-piece collection features ultra-packable men’s and women’s apparel and accessories with rich hues of turquoise, navy, red, and yellow, alongside graphic prints and fluid silhouettes. It features premium fabrics such as sustainable European flax linen (pre-washed for a lived-in softness), lightweight cotton poplin, and 100% silk. From lightweight knits to relaxed, resort-ready pieces, the collection allows customers to embrace an adventurous mindset. The marketing campaign features The White Lotus Season 3 cast member Patrick Schwarzenegger alongside model, podcast host, and The White Lotus aficionado Shanina Shaik. The Banana Republic x The White Lotus collection is currently available in the Philippines exclusively at bananarepublic.com.ph.

Stocks may rebound with BSP likely to cut rates

BW FILE PHOTO

PHILIPPINE STOCKS may rebound this week as the Bangko Sentral ng Pilipinas (BSP) is expected to cut benchmark interest rates following slower-than-expected March headline inflation.

On Friday, the bellwether Philippine Stock Exchange index (PSEi) fell by 1% or 61.54 points to close at 6,084.19, while the broader all shares index declined by 0.57% or 20.97 points to 3,643.44.

Week on week, the PSEi dropped by 1.03% or 63.25 points from its 6,147.44 finish on March 28, marking its fourth consecutive week in the red.

“US President Donald J. Trump’s ‘Liberation Day’ tariffs hit capital markets, fanning global risk-off sentiment, and eclipsing the 1.8% Philippine inflation in March,” online brokerage 2TradeAsia.com said in a market note.

“The bearish sentiment was sustained in last week’s trading as the US unveiled its reciprocal tariffs, which are expected to have a negative effect on the global economy… Trading has been anemic, reflecting the weak market confidence amid the global downside risks,” Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message.

On Thursday, Mr. Trump announced sweeping tariffs as part of his Liberation Day plan that seeks to protect US production, imposing a 10% baseline tariff on all imports and higher targeted duties on dozens of countries. An annex document to the executive order on the tariffs showed an 18% reciprocal tariff for the Philippines.

For this week, Mr. Tantiangco said the PSEi may rebound on bargain hunting.

“Expectations that the BSP will cut policy rates in their upcoming meeting following the further decline in inflation last March may give sentiment a boost,” he said. “However, the global economic concerns amid the US’ tariff policies are still expected to weigh on the market, tempering the potential rise next week. Shocks in the form of new tariff announcements from the US pose downside risks that may pull the market lower.”

Mr. Tantiangco put the PSEi’s support at 6,000 and resistance at 6,400.

Philippine headline inflation eased to 1.8% in March from 2.1% in February and 3.7% a year ago.

This was within the BSP’s 1.7%-2.5% forecast for the month and below the 2% median estimate in a BusinessWorld poll of 18 analysts.

Analysts said the slower March inflation print gives the BSP ample room to resume its easing cycle when it meets to review policy on Thursday. All 17 analysts in a BusinessWorld poll conducted last week expect the Monetary Board to reduce the target reverse repurchase rate by 25 basis points to 5.5% at its April 10 meeting.

Meanwhile, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort placed the PSEi’s support at 6,000 and resistance at 6,275 to 6,530.

For its part, 2TradeAsia.com pegged support at 6,000 and resistance at 6,400. — Revin Mikhael D. Ochave

Peso may stay at P56:$1 level

BW FILE PHOTO

THE PESO is likely to stay at the P56-per-dollar level this week as the Bangko Sentral ng Pilipinas (BSP) is widely expected to resume its easing cycle.

On Friday, the local unit closed at P56.821 per dollar, jumping by 27.4 centavos from its P57.095 finish on Thursday, Bankers Association of the Philippines data showed.

This was the peso’s strongest finish in six months or since it closed at P56.295 on Oct. 4, 2024.

Week on week, the peso rose by 56 centavos from its P57.381 finish on March 28.

“The peso strengthened on dollar selling across the board amid growing market concerns after US President Donald J. Trump announced tariffs and after the ISM’s (Institute for Supply Management) manufacturing PMI (purchasing managers’ index) data overnight,” a trader said by phone interview.

The local unit surged as the dollar declined to new lows on Friday due to lower global crude oil prices and US Treasury yields, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

In the Asian session early on Friday, the US dollar sank and the safe-haven yen strengthened towards a six-month peak, as traders weighed the fallout from Mr. Trump’s aggressive and far-reaching new tariff measures, Reuters reported

The dollar slipped toward a six-month trough against the euro prior to the release of a crucial monthly US payrolls report later in the day that will offer clues to the health of the economy and the outlook for monetary easing.

Traders now predict four quarter-point interest rate cuts from the Federal Reserve in the remainder of this year, and reduced the odds of further Bank of Japan tightening to almost nil.

Shockwaves from Mr. Trump’s harsher-than-expected tariffs were still rippling through markets more than 24 hours after being unveiled.

Stocks took the brunt of a searing sell-off, driving investors to the safety of assets such as bonds and gold on fears that a full-blown trade war could trigger a global slowdown and stoke inflation.

The dollar had already been on the back foot this year after initial euphoria over Mr. Trump’s policy agenda turned into worry that his focus on trade barriers could lead to stagflation, or even a US recession.

The dollar index, a measure of the currency against a basket of six major peers, plunged 1.9% on Thursday, its worst day since November 2022, and was down a further 0.3% in the latest session.

Mr. Trump said he would impose a 10% baseline tariff on all imports to the United States and higher duties on some of its biggest trading partners, including a rate of 20% on the European Union (EU) and a rate of 24% on Japan.

China now faces combined duties of some 64%, when also factoring in a tariff of 10% that Mr. Trump levied in his first presidential term.

Both China and the EU vowed countermeasures, raising the risk of a broader trade war.

Later on Friday, the US dollar rose against major currencies after Federal Reserve Chairman Jerome H. Powell acknowledged the repercussions of larger-than-expected US tariffs and signaled a cautious tone on future easing.

Mr. Powell said tariffs increased the risk of higher inflation and slower growth, highlighting the difficult path ahead for policy makers at the US central bank.

Mr. Powell’s comments followed data earlier in the day showing that nonfarm payrolls rose by 228,000 jobs last month after a downwardly revised 117,000 rise in February, well above the 135,000 forecast. The unemployment rate ticked up to 4.2% from 4.1%.

The dollar index rose 0.71% to 102.72 in afternoon trading on Friday.

For this week, the trader said the market will likely react to the US nonfarm payrolls report, with the BSP’s policy meeting on Thursday also expected to be a key trading driver.

All 17 analysts in a BusinessWorld poll expect the Monetary Board to cut its policy rate by 25 basis points (bps) to 5.5% at its April 10 meeting.

This would mark its first easing move since December as the BSP unexpectedly kept benchmark interest rates steady in February to assess the potential impact of the Trump administration’s policies on the Philippines. The Monetary Board has brought down borrowing costs by a cumulative 75 bps since it began its rate-cut cycle in August last year.

BSP Governor Eli M. Remolona, Jr. last month said there is a “good chance” that the central bank will cut rates by 25 bps at its April 10 meeting, especially if March inflation is better than expected. He also signaled cuts of 50-75 bps for this year.

The trader sees the peso moving between P56.60 and P57 per dollar this week, while Mr. Ricafort expects it to range from P56.60 to P57.10. — A.M.C. Sy with Reuters

FEU Lady Tamaraws beat UP Lady Maroons, share UAAP third place

THE FEU LADY TAMARAWS drubbed host University of the Philippines, 25-21, 25-16, 14-25, 26-24, to rejoin a hot chase for the Top Two in the UAAP Season 87 women’s volleyball on Sunday at the Smart Araneta Coliseum. — UAAP/NEO GARCIA

Games on Wednesday
(Philsports Arena)
9 a.m. – UE vs NU (men)
11 a.m. – Ateneo vs FEU (men)
1 p.m. – UE vs NU (women)
3 p.m. – Ateneo vs FEU (women)

FAR EASTERN UNIVERSITY (FEU) wasn’t to be left behind in an arms race for the coveted second seed and twice-to-beat edge.

The FEU Lady Tamaraws drubbed host University of the Philippines (UP), 25-21, 25-16, 14-25, 26-24, to rejoin a hot chase for the Top Two in the UAAP Season 87 women’s volleyball on Sunday at the Smart Araneta Coliseum.

FEU shrugged off a third-set meltdown by erasing a 16-20 deficit in the fourth set to improve to 7-4 with three games to go, tying University of Santo Tomas at third spot and moving within striking distance of De La Salle University (8-3).

Congolese spiker Faida Bakanke rifled in 20 points on 17 hits laced by seven digs with Chenie Tagaod and Gerzel Petallo adding 14 points each to spearhead the way for the wards of legendary player and now head coach Tina Salak.

Tin Ubaldo quarterbacked FEU’s onslaught with 17 sets while Ms. Petallo added 10 digs and 13 receptions in an all-around brilliance.

“It felt like watching an action and drama series in one. It became hard for us to sustain big leads but at least, I saw the maturity from our team in handling this kind of situation. I’m happy with the turnout,” said Ms. Salak as FEU survived a back-and-forth fourth-setter.

FEU zoomed to a 2-0 lead with easy wins in the first two but was caught off guard in the third that set the stage for an uncanny duel the next set.

Led by Ms. Bakanke, the Lady Tamaraws erected an early 12-3 lead only to allow a 17-4 retaliation from the UP Fighting Maroons to stare at a 16-20 deficit. FEU swung back and moved to match point only to yield two straight points anew for a deuce.

An attack error from UP and a Ms. Ubaldo block on Joan Monares finally sealed it for FEU.

Ms. Monares, Kianne Olango and Irah Jaboneta scored 13 points each while Niña Ytang had 11 for the Fighting Maroons, who could have tied FEU for the fourth seed with the win but fell behind in the Final Four race instead at 5-6.

In the men’s division, FEU (10-1) clinched a Final Four ticket with still three games to go after a 25-19, 25-21, 20-25, 29-31, 15-12 win over UP (3-8) while National University (9-2) moved closer to the same bid with a 25-17, 25-16, 25-15 win over Adamson University (2-9). — John Bryan Ulanday

Anthony and Howard head 2025 Hall of Fame class

CARMELO ANTHONY (left) and Dwight Howard (right) lead Hall of Fame 2025 class. — REUTERS/RON CHENOY-USA TODAY SPORTS

FORMER NBA STARS Carmelo Anthony and Dwight Howard, along with former women’s star Sue Bird, highlighted a decorated group named to the Naismith Basketball Hall of Fame’s Class of 2025 on Saturday.

Women’s stars Maya Moore and Sylvia Fowles, head coach Billy Donovan, Miami Heat owner Micky Arison, referee Danny Crawford and the 2008 US Olympic men’s team also were selected for induction.

Anthony and Howard were members of the 2008 US Olympic team.

The class was announced on Saturday at the NCAA Final Four in San Antonio.

Enshrinement weekend will begin at Uncasville, Conn., on Sept. 5, while the enshrinement ceremony will be in Springfield, Massachusetts, the following day.

“The Hall of Fame is thrilled to celebrate the Class of 2025, a group that has left a profound mark on the sport at every level,” said John L. Doleva, president and chief executive officer of the Naismith Basketball Hall of Fame. “This year’s class embodies excellence, innovation, and an enduring passion for basketball — whether through game-changing performances, leadership on the sidelines, or shaping the sport’s global reach. We look forward to honoring this Class and their lasting contributions to the game.”

Anthony ranks 10th in NBA history with 28,289 career points and was a 10-time All-Star. He won three Olympic gold medals (2008, 2012, 2016), led Syracuse to the 2003 NCAA title and was named to the NBA’s 75th anniversary team in 2021.

Howard, who was elected as a first-ballot member, was a three-time NBA Defensive Player of the Year (2009-11) and eight-time All-Star. He ranks 10th in NBA history with 14,627 career rebounds and 13th with 2,228 blocked shots.

Bird won five Olympic gold medals (2004, 2008, 2012, 2016 and 2020), four WNBA titles and two college crowns at UConn. She was a 13-time WNBA All-Star and holds the league’s career assists record of 3,234.

Donovan coaches the Chicago Bulls after previously leading the Oklahoma City Thunder and has 434 regular-season victories following a victory on Friday. He also led Florida to back-to-back NCAA titles (2006, 2007) while accumulating 502 college wins.

The 2008 US Olympic team went 8-0 while winning the gold medal and prevailed by an average of 27.9 points. The co-captains were Kobe Bryant, Jason Kidd and Dwyane Wade, while other members included LeBron James, Chris Paul as well as Anthony and Howard.

Moore led the Minnesota Lynx to four WNBA titles (2011, 2013, 2015, 2017) and won two NCAA titles at UConn and picked up two Olympic gold medals.

Fowles won four Olympic gold medals, retired as the WNBA’s leading rebounder (4,006) before being passed and was an eight-time WNBA All-Star and two-time WNBA champion.

Arison has owned the Miami Heat since 1995 and presided over three titles (2006, 2012, 2013).

“For some, this is an individual honor. But for me, this speaks to what our entire Heat family — players, coaches, staff and fans — have built together,” Arison said.

Crawford was an NBA referee from 1985-2017 and officiated in over 2,000 regular-season games and 300 playoff games, including the NBA Finals in 23 consecutive seasons. — Reuters

Pegula beats Alexandrova to set up Charleston Open final against compatriot Kenin

TOP SEED Jessica Pegula survived a tough test to beat Ekaterina Alexandrova 6-2, 2-6, 7-5 in a topsy-turvy Charleston Open semifinal on Saturday and will face compatriot Sofia Kenin in her fourth championship match of the season.

Pegula had looked as though she would roll through the match as she won the first five games but had to find another level after Alexandrova fought back and the American clinched it with a superb backhand winner down the line.

Later on Saturday, Kenin advanced as opponent Amanda Anisimova retired with an injury in the first set.

“It wasn’t the prettiest at times, it was really windy, there were some awkward shots, we were both very uncomfortable, I feel like, on some short balls, some low balls, it was kind of swirling in the wind so it was just trying not to get frustrated, having to move your feet a lot and just competing.”

Pegula broke her opponent in the first game with a backhand winner before Alexandrova helped the American to another break in the third game with a double fault and a clumsy shot that sailed past the baseline.

They traded breaks in the fifth and sixth games before the 26th-ranked Russian improved her form across the board in the second set, as she broke Pegula with a fine forehand shot in the sixth game and again with a forehand winner on set point.

They traded breaks three times in the final set before Pegula forced her opponent into an error on break point with a perfectly placed backhand at the net in the 11th game to close out the two-hour 21-minute-long marathon match.

It was Pegula’s 24th match win this year, the most in the WTA.

Anisimova had hoped to build on a strong start this season after she ended a three-year title drought in Doha in February but the afternoon quickly derailed for the eighth seed.

With Kenin up a break in the fourth game, Anisimova stopped up short and began moving gingerly around the court before asking for the physio with the score tied 30-30.

She lay on her back as tournament staff tended to what appeared to be a hip injury and tried to carry on from there but she could not keep up the fight and retired with Kenin up 5-2 in the set.

It will be the first time that the Charleston Open, the largest women’s-only tennis tournament in North America, will see an All-American final since 1990. — Reuters

Blazers, Spurs square off with fleeting postseason hopes on the line

THE Portland Trail Blazers and San Antonio Spurs look to keep their waning postseason chances alive when they square off on Sunday in a late-season Western Conference game.

Neither team has been officially eliminated from playoff contention.

Portland (34-44) still has the best chance of the two of working its way into the postseason. The Trail Blazers are three spots and three and a half games behind 10th-place Sacramento with just four games to play after a 118-113 loss in Chicago on Friday.

Deni Avdija led the short-handed Trail Blazers with 37 points and 11 rebounds in the loss while Dalano Banton contributed 21 points, Shaedon Sharpe hit for 17 points and Donovan Clingan pulled in 18 rebounds for Portland.

The Trail Blazers hung tough despite having six key players (including leading scorer Anfernee Simons, Jerami Grant, Deandre Ayton and Scoot Henderson) on the sidelines with injuries. Portland committed a season-low five turnovers in the setback and had 20 second-chance points off 19 offensive rebounds, seven of those from Clingan.

“Our offensive rebounds really hurt Chicago throughout the night,” Portland coach Chauncey Billups said. “We didn’t shoot it well anywhere, to be honest with you. But offensive rebounds kept us in it.”

Portland has dropped five of its past seven games. To surpass the Kings, the Trail Blazers must win their final four games and have Sacramento lose its final five because the Kings also hold the head-to-head tiebreaker.

The Spurs (32-45) head to the Pacific Northwest for the first of a four-game road trip and after a 114-113 loss to East-leading Cleveland on Friday.

San Antonio roared from behind in the final three minutes against the Cavaliers, forging a 14-2 run to pull within a point with 4.6 seconds to play. But Harrison Barnes missed a contested layup at the buzzer, dropping the Spurs to the sixth loss in their past seven games.

“These guys have found a way to not go away numerous times and that just speaks to them individually and collectively as a group,” San Antonio acting coach Mitch Johnson said about his team. “You wish that ball would’ve bounced in for their sake because they put so much into this deal. It’s very rewarding as a coach at times to have that type of fight in your team.”

Devin Vassell led the Spurs with 24 points in the loss, while Barnes added 23. Stephon Castle racked up 22 points, 11 assists and nine rebounds and Julian Champagnie scored 15 points. San Antonio trailed by 23 in the second quarter and by 16 in the fourth before fighting back.

“In the second half, we did a better job of fighting, getting back into it,” Barnes said afterward. “But the deficit that we created in the first half, I think that’s where the growth opportunity is for us — avoiding those situations.”

San Antonio sits five games in back of Sacramento with five games remaining in the regular season.

The Spurs have captured the first three games against Portland in the season series, winning twice at home on Nov. 7 and Dec. 21, respectively, and in Rip City on Dec. 13. — Reuters

LA Clippers keep pace in West, wipe out Dallas Mavericks

JAMES HARDEN and Kawhi Leonard each scored 29 points as the Los Angeles (LA) Clippers finished off a convincing 135-104 victory over the Dallas Mavericks on Saturday at Inglewood, Calif.

Ivica Zubac added 25 points with 10 rebounds for the Clippers (46-32), who improved to 11-2 since March 12, while winning 11 of their last 12 home games. The Clippers had a pair of injury scares in the first half, but Norman Powell (thigh) and Derrick Jones Jr. (ankle) remained in the game.

Harden added 14 assists as the Clippers won both games of a back-to-back against the Mavericks. Los Angeles pulled even with both the Minnesota Timberwolves and Memphis Grizzlies while sitting a half game behind the fifth-place Golden State Warriors.

Leonard did not play his first game of the season until early January because of knee discomfort but has shown his productivity of late with an average of 26.2 points over his last 12 contests.

Anthony Davis scored 27 points with nine rebounds in just his seventh game with Dallas after a trade from the Los Angeles Lakers in February. Davis did not play on Friday against the Clippers because of injury maintenance on a nagging abdominal injury.

Kai Jones scored 18 points for the Mavericks (38-41) against his former team, while Klay Thompson scored 14 points after he departed Friday’s game with an illness. Dereck Lively II played after he sat out Friday’s game with an ankle injury but scored just two points in 15 minutes.

The Clippers ran away with the game by outscoring the Mavericks 44-30 in the third quarter when Zubac scored 13 points and Harden had 10, while Los Angeles shot 69.2%.

The Clippers scored 74 points in the second half to 52 for the Mavericks, who have lost two of their past three games. Dallas is ninth in the West and just percentage points ahead of the 10th-place Sacramento Kings, who hold the final play-in spot in the conference.

The Clippers were in control throughout, leading 33-21 after the opening period. Los Angeles had a 61-52 lead at halftime behind 19 points from Harden. — Reuters

Play-in tourney

If there’s something the National Basketball Association got right, it’s the play-in tournament. For the West, in particular, the scrambling figures to go on until the very last day of the regular season. With only a handful of games left for each team, the goal is to close out the remainder of the schedule with a series of victories to ensure a spot in the playoffs — or, at the very least, an opportunity to claim one by snagging the ninth and 10th seeds. And the jockeying for position has become must-see fare as a result.

Although there are only 15 teams in every conference, being part of the two-thirds that get to extend their 2024-25 campaign is much easier said than done. This is especially true in the crowded West, where the Lakers, provisionally, can fall to as low as 10th, while the 13th-running Spurs can climb to the same spot. The records are so close that every game day features movement in the standings. It’s why every outing is crucial, and why, by extension, diehard followers of the pro scene cannot wait for the postseason to begin.

Before then, though, fans get to find out whether the Nuggets will stay high enough to retain homecourt advantage in the first round. Given the seeming over-reliance on reigning Most Valuable Player awardee Nikola Jokic, the development is critical for the blue and yellow. Meanwhile, the Warriors have steadily gone up the ranks, with their momentum stringing along the possibility of securing the third seed in the playoffs. The Timberwolves and Clippers are likewise surging, enough to get pundits guessing as to how high they can go.

All told, the runup to the postseason serves as a proper preamble for upcoming matchups. Considering how much the brackets matter to those casting a moist eye on the hardware, strategic choices will, no doubt, come into play as the regular season draws to a close. Until then, the goal is to win every time out. Little wonder, then, that bench tacticians are already in playoff mode. The margins are so small that there is immense value to be had in gaining the confidence to believe that their respective fates are entirely up to them.

 

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.

BIR VAT collections up over 35% in 2024

TAXPAYERS line up at the Bureau of Internal Revenue office in Intramuros, Manila, April 18, 2022. — PHILIPPINE STAR/RUSSELL PALMA

THE Bureau of Internal Revenue (BIR) said it collected P643.85 billion in value-added tax (VAT) revenue last year, up 35.48%.

VAT is a 12% levy on the sale, barter, exchange or lease of goods or properties and services and on goods imported into the Philippines.

VAT accounted for 22.58% of the P2.852 trillion in overall collections in 2024.

“The substantial rise in VAT collections resulted from collecting 12 months’ worth of VAT in 2024 compared to just 10 months’ worth in 2023 due to the change in filing schedule from monthly to quarterly that started in January 2023,” the Bureau of the Treasury said in a 2024 Cash Operations Report.

Overall, BIR collections increased 13.29% year on year to P2.852 trillion, driven by the VAT performance. It surpassed the P2.849-trillion target by 0.09%.

This year, the BIR is seeking to collect P710.04 billion in VAT revenue, targeting 10.28% growth over actual 2024 collections.

In addition, the BIR has said it is now expecting to collect additional revenue from new tax measures such as the VAT on digital service providers (DSPs).

President Ferdinand R. Marcos, Jr. on October signed Republic Act No. 12023, which imposes a 12% VAT on DSPs, both resident and nonresident.

The implementing rules and regulations were signed in January, with DSPs immediately subject to VAT on digital services on June 1.

In other tax segments, BIR collections on income and profits tax grew 9.15% to P1.53 trillion.

Excise taxes grew 3.86% to P304.28 billion, other taxes rose 8.80% to P234.39 billion and percentage taxes were up 5.61% at P136.32 billion. — Aubrey Rose A. Inosante

Livestock industry eyes cheaper feed as China throws up tariffs vs US soy, grain

REUTERS

FEED PRICES could fall, with follow-on effects on meat prices, as US producers scramble for new markets for their grain and soy after China retaliated against US tariffs, industry representatives said.

“The US may have excess soya production, which may cause their prices to drop further,” National Federation of Hog Farmers, Inc. Vice-President Alfred Ng said via Viber.

“This will definitely benefit our livestock sector as feed prices will be further reduced,” he added.

China last week retaliated against the sweeping US tariffs, imposing additional duties of 34% on all American goods, on top of the 10-15% duties imposed on $21 billion worth of agricultural trade in early March, according to Reuters.

Currently, soybean meal imports from the US are charged a 1-3% Philippine tariff, according to Mr. Ng.

“We do not think the Philippine government will retaliate (after the US imposed a 17% tariff on Philippine exports) so we will keep them low for US soya,” he said.

In effect, this will lower the cost of local production, “encouraging more agriculture and livestock output,” he added.

The US Soybean Export Council earlier said Philippine soybean meal imports from the US may decline this year as African Swine Fever dampens swine production.

Meat Importers and Traders Association President Jess C. Cham said the US tariff regime may reduce demand in other countries, “resulting in more supply for other countries including the Philippines.”

“On the demand side, if our exports fall, there may be less consumption,” he said.

Mr. Cham said China is a major market for soybean meal and that “if tariffs make its imports less affordable, then exporters will have to look for other markets.”

The Department of Agriculture recently urged farmers to increase the hog population by a “minimum” of 2 million heads each year through 2028.

Livestock and poultry account for about a quarter of agricultural output and provide livelihoods for over 2.8 million farmers. — Kyle Aristophere T. Atienza

Trade deals pushed in face of Trump tariffs

REUTERS

By John Victor D. Ordoñez, Reporter

THE GOVERNMENT should seek new trade agreements with its regional and global partners to sustain its electronics, textiles and food industries after the US imposed a 17% tariff on the Philippines, economists said.

“Mitigating the impact of the tariffs requires proactive government action such as negotiating exemptions for critical industries and enhancing trade and investment agreements with other partners in the Association of Southeast Asian Nations, the European Union,” Philippine Institute for Development Studies Senior Research Fellow John Paolo R. Rivera said via Viber.

The White House said the Philippines will be charged a 17% “discounted reciprocal tariff,” in response to Philippine tariffs of 34% on US goods, as estimated by US trade officials.

Finance Secretary Ralph G. Recto has called the Philippines “relatively resilient” during trade wars due to its economy being driven by domestic demand.

Last week, US President Donald J. Trump announced a 10% baseline tariff on all its trading partners, with the rates set higher for countries that impose high tariffs on US goods.

Within Southeast Asia, the Philippines had the second lowest tariff next to Singapore, which was granted the 10% baseline tariff. Cambodia faces the steepest tariff at 49%, followed by Laos (48%), Vietnam (46%), Myanmar (45%), Thailand (37%), Indonesia (32%), Malaysia (24%) and Brunei (24%). 

Presidential Communications Office Undersecretary Clarissa A. Castro said at a briefing on Thursday that countries facing higher tariffs could choose to set up shop in the Philippines and use it as an export base, leveraging the advantageous tariffs.

“The country should now look at new partners instead of simply allowing business as usual,” Leonardo A. Lanzona, who teaches economics at the Ateneo de Manila, said via Facebook Messenger.

He added that ”tariffs create uncertainty in world trade. How long will this regime hold?”

Agriculture Secretary Francisco P. Tiu Laurel, Jr.  has said the Philippines could take advantage of the relatively lower tariff rate compared with its neighbors to “push for more sales to the US of our products.”

“Nonetheless, the Philippines should look at this as an opportunity for better competition versus comparable nations which had been slapped with higher tariffs by the US,” Terry L. Ridon, a public investment analyst and convenor of the InfraWatch PH think tank, said via Facebook Messenger.

He said the tariffs could make Philippine semiconductor and agriculture products more price competitive in the US.

Philippine exports to the US amounted to $12.4 billion last year, 53% or $6.43 billion of which were electronic products.

The US goods trade deficit with the Philippines was $4.9 billion in 2024, up 21.8% from a year earlier.

Calixto V. Chikiamco, Foundation for Economic Freedom president, said higher tariffs on countries like Vietnam and Thailand could prompt companies shipping to the US to relocate to the Philippines due to the relatively lower tariff of goods originating from the Philippines.

“Whatever disadvantages we have in infrastructure can be offset by the lower tariffs slapped on our export manufactures compared to neighboring countries,” he said via Viber.

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