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PLDT, Smart support integrating children’s rights into green reporting

STOCK PHOTO | Image by jcomp from Freepik

TELECOMMUNICATIONS company PLDT Inc. (PLDT) and its wireless unit Smart Communications, Inc. (Smart) have joined the call to integrate children’s rights into sustainability reporting and business practices of publicly listed companies (PLCs).

The companies support the study conducted by the Securities and Exchange Commission (SEC) and UNICEF Philippines (UNICEF).

On their joint study covering sustainability reports of 86 Philippine PLCs in 2023, it found that children’s rights are rarely explicitly addressed in corporate sustainability reports.

It also showed that firms commonly address child labor, but they often overlook broader areas concerning children, such as those aligned with “participation, protection, responsible marketing, and environmental impacts.”

SEC Commissioner Rogelio V. Quevedo said that PLCs in the country are “in a unique position to drive transformation by integrating children’s rights into their corporate sustainability strategies.”

“This helps eliminate exploitative practices, promote friendly policies, and foster an environment where children can thrive,” he said.

PLDT and Smart joined fellow private sector representatives from Metro Pacific Tollways Corp. and Sta. Lucia Realty and Development in discussing why children matter to their businesses and how they have been incorporating children’s rights into their sustainability strategies and reporting frameworks.

“As we aim to make meaningful connections through generations, we want today’s children to understand that the PLDT Group’s child protection initiatives and, in fact our focus on sustainability, is our way of showing that we care about them and their future,” said PLDT and Smart Chief Sustainability Officer Melissa Vergel de Dios. — Sheldeen Joy Talavera

P178-million tax evasion cases filed vs shoemaker 

THE DEPARTMENT of Justice (DoJ) has filed 34 criminal charges against a Philippine-based shoe company before the Court of Appeals over its alleged tax deficiencies worth P178.8 million, the Bureau of Internal Revenue (BIR) said.

“We thank Secretary Remulla and the entire DoJ prosecution team for their swift and decisive action against [the company] and their use of Ghost Receipts,” Commissioner Romeo D. Lumagui, Jr. said in a statement.

The BIR said it found these fraudulent practices through its Run After Fake Transactions (RAFT) Program, which targets the use of fictitious receipts issued by non-existent or ghost companies.

The scheme used by the company to evade the correct payment of taxes and misrepresentation in its tax filings covers taxable years 2018, 2019, 2020 and 2021.

The BIR said the information impleaded the firm’s officers, while the Justice department indicted the others for making untruthful declarations, returns, and other statements in the Annual Income Tax returns.

BusinessWorld has reached out to the company for their comment through text and phone call but received no response.  — Aubrey Rose A. Inosante

2 preschool siblings drowned in Cotabato river

COTABATO CITY — Rescuers on Sunday found two preschool siblings lifeless after being swept away by rampaging floodwaters while at one side of the Kabacan River in Barangay Aringay in Kabacan, Cotabato last Friday.

Officials of the Kabacan Municipal Disaster Risk Reduction and Management Office confirmed to reporters on Monday, that the six-year-old Jackelyn L. Saidona and his four-year-old brother, Johayrin were last seen playing at one spot in the Kabacan River in Barangay Aringay last Friday.

Local executives said combined local government emergency responders from Cotabato’s neighboring Kabacan, Carmen, and Matalam towns first found the boy on Saturday afternoon in the downstream stretch of the Kabacan River and, subsequently, recovered the cadaver of his sister several hours later.

Barangay officials said the Saidona siblings were swept away by rampaging floodwaters while at the river and disappeared.

Kabacan Mayor Evangeline P. Guzman had provided the parents of the two children with initial monetary support that they could use in facilitating the burial of the two children. — John Felix M. Unson

Baguio City on alert due to erosion incidents

BAGUIO CITY — Baguio City Mayor Benjamin Magalong urged barangay local governments here to be on alert for unsanctioned land development or excavations.

This comes as 19 incidents of soil erosion were recorded during the past three days, four of which were huge landslides.

Though these erosion incidents were not life-threatening, Mr. Magalong said, they monitored partially damaged houses, uprooted trees, and a sinkhole in one of the city’s 128 barangays.

On Sunday, a huge boulder rolled down from the mountaintop along Barangay Camp 7, pinning down a dog, dog cage and a car.

As a result of the monitored soil erosion around the city, four families were evacuated to safer ground.

Mayor Magalong said it is fortunate that there were no human fatalities but pinned the blame on unsanctioned land developments around the city that prompted these accidents.

Mr. Magalong cited an unsanctioned land development by an owner in a barangay here where two houses were compromised when continuous rains soaked the soil on the slope.

For the past three days, the city has received a huge 300mm volume of rainwater that added to the rainwater volume that doused Baguio City even a month before “Crising.” — Artemio A. Dumlao

PHL stocks go up on bargain hunting, tariff talks

BW FILE PHOTO

PHILIPPINE STOCKS went up on Monday on bargain hunting, with players awaiting updates on the visit of President Ferdinand R. Marcos, Jr. to the United States this week to meet with US President Donald J. Trump.

The main Philippine Stock Exchange index (PSEi) rose by 0.77% or 49.02 points to end at 6,352.74, while the broader all shares index climbed by 0.45% or 17.16 points to close at 3,753.44.

“The local bourse bounced back this Monday as investors hunted for bargains following last week’s steep decline,” Philstocks Financial, Inc. Assistant Manager for Research and Online Engagement Claire T. Alviar said in a Viber message.

Last week, the bellwether PSEi dropped by 2.42% or 156.16 points from its 6,459.88 finish on July 11.

“Sentiment was also lifted by Mr. Marcos’ visit to the US, with hopes of securing a more favorable trade deal before the Aug. 1 deadline,” Ms. Alviar added.

“The PSEi upped this Monday back a little above the 6,350 mark, driven by investors seeking cheaper prices together with continued vigilance as investors remain alert to the global trade developments as negotiations between the US and the Philippines regarding tariffs commence this week,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message. “Further advancements in stock prices could be taken once negotiations and ongoing earnings season sentiments kick in.”

Mr. Marcos arrived in Washington, DC early Monday (Manila time) for his three-day official visit.

He will meet with Mr. Trump as the government hopes to negotiate a more favorable trade deal for the country after the US chief executive said he would impose a 20% “reciprocal” tariff on Philippine goods, higher than the initial 17% rate announced in April.

Almost all sectoral indices closed in the green on Monday. Holding firms increased by 0.91% or 49.09 points to 5,430.31; financials went up by 0.73% or 16.25 points to 2,234.53; services climbed by 0.58% or 12.45 points to 2,142.14; industrials rose by 0.5% or 45.68 points to 9,129.71; and property inched up by 0.37% or 8.85 points to 2,374.85.

Meanwhile, mining and oil dropped by 0.25% or 23.17 points to 9,117.74.

“For index members, Bank of the Philippine Islands posted the biggest gain at 3.2%, while Bloomberry Resorts Corp. led the decliners, falling 3.37% amid uncertainties surrounding online gambling,” Ms. Alviar said.

Value turnover dropped to P5.79 billion on Monday with 1.14 billion shares traded from the P8.45 billion with 1.67 billion shares that changed hands on Friday.

Advancers bested decliners, 104 versus 82, while 56 names were unchanged.

Net foreign selling went down to P36.3 million on Monday from P240.15 million on Friday. — Revin Mikhael D. Ochave

Market access could be focus in next round of trade talks with EU

REUTERS

THE Department of Trade and Industry (DTI) said market access negotiations could start by the next round of Philippine-European Union (EU) Free Trade Agreement (FTA) talks.

In a statement on Monday, Undersecretary Allan B. Gepty said that “meaningful progress” was achieved in the third round of negotiations held between June 16 and 20 in Brussels.

“We will continue with this approach and look forward to commencing market access negotiations by the next round,” Mr. Gepty said.

“We remain steadfast in our common vision to conclude this FTA expeditiously, particularly in light of the evolving global trade landscape,” he added.

The next round of FTA negotiations is scheduled to take place in the Philippines in October.

In the negotiations held last month, the DTI said both sides addressed 19 key areas, including trade in goods, rules of origin, services and investment, capital movement, payments, transfers and temporary safeguard measures, competition policy, customs and trade facilitation, digital trade, energy and raw materials, and government procurement.

Other areas discussed were intellectual property, mutual administrative assistance, sanitary and phytosanitary measures, state-owned enterprises, sustainable food systems, technical barriers to trade, trade and sustainable development, trade remedies, and legal and institutional issues.

The Philippines-EU FTA is expected to be the country’s most comprehensive trade agreement, as the first such deal to tackle government procurement, digital trade, energy and raw materials, and trade and sustainable development.

“Both sides reaffirmed their commitment to crafting a comprehensive agreement that not only reflects modern trade priorities but also delivers tangible benefits for businesses, consumers, and stakeholders in both the Philippines and the EU,” the DTI said.

The Philippine negotiators also met with BusinessEurope to discuss the potential impact of an FTA, especially for industries like spirits, chemicals, defense, and services.

“The Philippines-EU FTA is an important element of the trade agenda and is aligned with the Philippine Development Plan’s (2023-2028) directive to advance purposive, assertive, and forward-looking free trade agreement strategies,” the DTI said.

“As one of the country’s top trading partners, the (parties to the FTA will enjoy a) more predictable and stable trading environment,” it said, adding that the Philippines will benefit from enhanced access under the EU Generalized Scheme of Preferences Plus.

In 2024, trade between the Philippines and the EU hit $15.5 billion, making the bloc the Philippines’ fifth-largest trading partner, accounting for 7.7% of total trade.

Philippine exports to the EU hit $8.1 billion, while imports from the EU amounted to $7.5 billion. — Justine Irish D. Tabile

Konektadong Pinoy seen as improvement over status quo

DICT

DATA PROTECTION groups urged the President to sign the Konektadong Pinoy bill, noting that the Philippines will be left with outdated systems without such legislation, putting it further behind its neighbors.

“Contrary to claims by a few groups against Konektadong Pinoy, the bill actually addresses long-standing gaps that have resulted in inadequate and underprotected digital infrastructure,” they said in a joint statement a week before President Ferdinand R. Marcos, Jr.’s State of the Nation Address.

They noted that preserving the status quo of fragmented cybersecurity enforcement and inconsistent standards poses a “greater risk.”

In 2022, the Philippines was cited as the “most internet-poor” in Southeast Asia, with over 50 million potential users unable to afford basic internet packages. The Philippines has improved since, relinquishing last place to Laos and Timor-Leste.

Under the proposed law, regulators are tasked with setting and enforcing cybersecurity rules specific to the data transmission industry.

Section 9 of the ratified bill requires all Data Transmission Industry Participants (DTIP) to either obtain a third-party certification for ISO/IEC 27001, or comply with Department of Information and Communications Technology (DICT) cybersecurity standards.

Cybersecurity requirements should be obtained within two years of registration, after which a DTIP will face penalties.

The bill also seeks to subject DTIPs to cybersecurity performance audits as a requirement for continued operations and license renewal.

Currently, most internet service providers are not subject to cybersecurity standards.

“Diversity is a key principle in many aspects of resiliency, which also applies to information security,” the groups said. “By lowering structural barriers to market entry, Konektadong Pinoy not only promotes competition but also strengthens  digital infrastructure by encouraging multiple network operators, thus preventing a single point of failure or attack.”

The DICT estimates that about 19,000 barangays — 45% of the total — still lack digital infrastructure, and 37.5% of households remain unconnected.

“A critical reading of the Konektadong Pinoy bill would reveal that the concerns and issues raised by other groups or organizations are unfounded. While the concerns and issues raised are valid, the bill includes safeguards that address them,” according to Angel Averia, president of the Philippine Computer Emergency Response Team and co-founder of the ASEAN-Japan Cybersecurity Community Alliance.

The groups also refuted claims that the bill would weaken regulatory oversight.

“The bill requires prior National Telecommunications Commission (NTC) authorization for an entity operating international gateways and backbone facilities. It subjects DTIPs to vetting and audit, including national security reviews, and prohibits the entry of foreign government-controlled and state-owned entities in the data transmission industry,” it said.

The signatories to the joint statement include the National Association of Data Protection Officers of the Philippines, the Philippine Computer Emergency Response Team, the Philippine Cable and Telecommunications Association, Inc., the Game Developers Association of the Philippines, the Global Digital Inclusion Partnership, Web3 Pangasinan, and the De La Salle University’s Jesse M. Robredo Institute of Governance.

These groups join the 35 ICT industry, business chambers, public sector, and civil society groups; and 53 medical and healthcare associations that have expressed support for the Konektadong Pinoy bill.

“Advocates have emphasized that Konektadong Pinoy aligns with global best practice, ease of doing business, and international cybersecurity standards,” the groups said. — Beatriz Marie D. Cruz

PEZA taps Concentrix to enhance ease of doing business in ecozones

THE Philippine Economic Zone Authority (PEZA) said it has engaged Concentrix CVG Philippines, Inc. to help improve the ease of doing business in economic zones (ecozones).

In a social media post, PEZA said that it signed a memorandum of understanding with Concentrix, which will participate in upskilling its workforce and digital transformation.

“Through this joint initiative, Concentrix will conduct a series of Innovation Discovery Workshops entitled “Trabaho Techskwela,” aimed at identifying opportunities for data optimization and process innovation,” PEZA said on Monday.

“The workshops will focus on maximizing the use of PEZA’s data assets to generate actionable insights, enabling the digital transformation of PEZA’s processes, and enhancing stakeholder experiences for investors, locators, and employees,” it added.

Concentrix will also provide PEZA with resources, reports, and recommendations to support the digitalization of the agency’s operations and services.

In a separate statement, PEZA said that it has partnered with the Department of Science and Technology’s (DoST) Technology Application and Promotion Institute to help in the commercialization of Filipino inventions.

“The partnership aims to allow the seamless transfer and commercialization of DoST-funded and developed technologies in the ecozones, bolstered by the financial and technical support needed to enhance their viability, competitiveness, and market impact,” PEZA said.

The partnership is also aimed at integrating micro, small, and medium enterprises into the ecozone value chain.

The DoST also entered partnerships with Land Bank of the Philippines and the Korea Invention Promotion Association.

“These partnerships seek to provide increased financial support for inventors at the same time as further collaboration with other nations on technology development,” PEZA said. — Justine Irish D. Tabile

Survival fund approves nearly P100M worth of projects

Bernard Dupont/CC BY-SA 2.0/Wikimedia Commons

THE Department of Finance (DoF) said P99.68 million worth of projects to address climate vulnerabilities were approved by the People’s Survival Fund (PSF) Board.

In a statement on Monday, the DoF said projects for Catanduanes and Davao del Norte, as well as three project development grants (PDG) for Negros Oriental, Surigao del Norte and Kalinga were approved during the 23rd PSF Board Meeting on July 18.

To date, climate adaptation projects approved by the board total 21, valued at a combined P1.42 billion.

“These climate adaptation projects are part of our whole-of-government effort to protect the most vulnerable communities from the effects of climate-related disasters,” Finance Secretary Ralph G. Recto said.

The PSF was established under Republic Act No. 10174 to finance adaptation programs and projects of local government units and accredited community organizations.

The largest of the newly approved projects is an P86.16 million initiative in Pandan, Catanduanes, which seeks to mitigate the municipality’s exposure to storm surges and drought.

Its first component — the Mangrove EcoShield Project, seeks to reforest 10 hectares of mangroves in six barangays and establishes a mangrove nursery.

The project will support 519 individuals from 10 fisherfolk associations and five multi-sectoral associations.

The second approval covers Climate-Smart Infrastructure Support for Agriculture to reduce reliance on external supplies of vegetables.

It will benefit around 774 members of 15 farmer associations and five multi-sectoral associations affected by drought.

“Key initiatives include installing solar-powered irrigation systems (SPIS), gravity-fed water supply systems, climate-adaptive greenhouses, and a learning center to address the municipality’s vulnerability to drought and enhance local vegetable production,” the DoF said.

Another project is the P7.51 million in support for Tagum, Davao del Norte to mitigate the municipality’s vulnerability to flooding through reforestation and the establishment of an early warning system.

The reforestation component seeks to restore 55 hectares of degraded mangrove ecosystems in five barangays.

This is expected to help 1,867 fisherfolk whose livelihoods stand to gain from healthy mangrove ecosystems.

“To support this effort is the establishment and installation of Calamity Early Warning Systems (EWS), which will strengthen disaster preparedness and community resilience,” the DoF said.

The project development grants worth P2 million each are intended to help proponents develop comprehensive project proposals.

“The project development grant approved for Basay, Negros Oriental will support proposal development for a project that will rehabilitate, conserve, and sustainably manage the Basay River and Watershed to protect the community against flood and rain-induced landslides,” the DoF said.

A PDG was approved for Claver, Surigao del Norte, supporting a proposal to design nature-based solutions to rising water levels and storm surges.

A PDG for Rizal, Kalinga will develop proposals for irrigation networks that will mitigate the impact of impact of drought. — Aubrey Rose A. Inosante

BoC extends validity of importer accreditations to three years

BW FILE PHOTO

CUSTOMS Commissioner Ariel F. Nepomuceno said the validity of importer accreditations will be extended to three years from one, which he billed as an anti-corruption measure.

“We are committed to making the accreditation process more efficient for importers while upholding transparency and accountability in our operations,” Mr. Nepomuceno said.

The Bureau of Customs (BoC) said the validity extension updates Customs Administrative Order (CAO) No. 07-2022.

The BoC said it is currently reviewing the CAO draft amendment with its legal team to ensure the changes are legally compliant.

“By streamlining procedures and reducing opportunities for discretion, these reforms will help deter corruption and promote a more honest and service-oriented Bureau of Customs,” he said.

The goal is also to reduce the administrative burden on importers and to simplify the process, allowing them to focus more on their operations rather than annual renewals.

Another amendment includes the adjustment of the accreditation processing fee to P5,000 from P2,000.

“Additionally, the application form will be updated to include additional fields, ensuring more accurate data collection and improving compliance monitoring,” the BoC said. 

Importers will also be required to submit an annual report 30 days before the anniversary of their accreditation, summarizing any updates to business documents or information. — Aubrey Rose A. Inosante

Chamber backs consolidation of corn farms, logistics investment

PHILSTAR FILE PHOTO

CORN FARMS need to be consolidated and backed with improved logistics to boost their output and bring down feed costs, benefiting the livestock industry, the Philippine Chamber of Agriculture and Food, Inc. (PCAFI) said.

In a statement, PCAFI called on the Department of Agriculture (DA) to invest about P500 million for every thousand hectares planted to corn in regions II, X and XII, which harvest corn twice a year.

It said the DA should accelerate clustering and consolidation of corn producers and provide appropriate logistics to reduce transfer costs and enhance corn farmers’ earning opportunities.

The government should also consider implementing a floor price scheme for corn, it added.

The US Department of Agriculture (USDA) earlier noted a rise in global corn production, which may result in higher prices of feed corn in the global market.

Citing its foreign agriculture service in Manila, the USDA said production in the Philippines is forecast to grow 0.6% year on year to 8.2 million tons in marketing year 2025/26, due in large part to better weather conditions and continued government support.

It added that local production is not likely to satisfy demand from the broiler, layer, aquaculture, and pet food industries.

PCAFI said the government also needs to scale up production of cassava and sweet potato to ease shortages in other raw materials needed for animal feed.

It said the policy governing food imports must be rationalized to ensure that imports are resorted to only in the event of domestic shortages to protect farmers from price competition. — Kyle Aristophere T. Atienza

Financial freedom seen emerging as priority in PHL financial planning

FINANCIAL well-being is growing in priority for Filipinos planning for their futures, Manufacturers Life Insurance Co., Inc. (Manulife) said, citing the results of a study.

“Filipinos are redefining what it means to live a good life. They are no longer focused solely on longevity. Instead, they want to live better — with freedom, dignity, and the ability to enjoy life on their own terms. This shift challenges us to rethink how we support them — not just with insurance, but with holistic solutions that enhance their quality of life,” Manulife Philippines President and Chief Executive Officer Rahul Hora said in a statement on Monday. 

Manulife’s Asia Care Survey 2025 surveyed 1,000 Filipinos in the January-February period.

For their older years, 26% of respondents selected financial independence as their top priority, while 17% selected physical and mental health as well as staying socially active. Only 13% of respondents named longevity as their priority.

“Life expectancy is (expected) to keep increasing by default. As such, having total financial freedom, and maintaining physical, mental, and social health are valued more deeply,“ Manulife said.

More than half of the survey respondents engage in only 5 out of 17 recommended preventive health measures that can support a longer, healthier life, and 74% believe their current health habits are sufficient to protect their health as they age.

“These preventive actions include drinking an appropriate amount of water per day recommended by health professionals, taking vitamins and other supplements, reducing stress and anxiety by maintaining work-life balance, having the amount of sleep per day recommended by health professionals, and maintaining a healthy body weight,” Manulife said. 

Only 16% of respondents said they monitor muscle mass and oxygen uptake, 17% grip and leg strength, 19% sleep respiratory rate, 25% balance, and 28% mobility.

“These metrics are scientifically linked to longevity and overall vitality yet remain largely overlooked,” it said.

“There is a clear gap between awareness and action. Filipinos understand the importance of health, but many are not taking the necessary steps to protect it. This disconnect could lead to long-term vulnerabilities, which will be challenging to address later in life. To bridge this gap, we encourage Filipinos to take more proactive steps, such as scheduling regular check-ups, adopting healthier lifestyle habits, and seeking guidance from healthcare professionals, to help safeguard their overall health and well-being,” Mr. Hora said.

The survey also found that 80% of respondents believe that their financial well-being directly affects how long they can remain physically healthy, while 76% say it impacts their mental health and emotional resilience.

“However, despite this awareness, the average retirement savings among Filipinos is only P630,000 — 16% of the P3.85 million they estimate they will need to retire comfortably,” Manulife said. — Aaron Michael C. Sy

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