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Megaworld taps Accor to operate select hotels

Leading the signing ceremony between Megaworld and Accor were Lourdes Gutierrez-Alfonso, president and chief executive officer, Megaworld (seated, 2nd from left) and Andrew Langdon, chief development officer, Asia, Accor (seated, 2nd from right). Joining them were Cleofe Albiso, managing director, Megaworld Hotels & Resorts (left) and Chris Cho, vice-president for development – Singapore, Philippines, Korea, and Maldives, Accor. — Megaworld Corp.

LISTED real estate developer Megaworld Corp. is expanding its hotel portfolio through a partnership with global hospitality group Accor S.A. for the operation of select hotels.

In a regulatory filing on Wednesday, Megaworld said Accor will operate select hotel brands under Megaworld Hotels and Resorts.

Belmont Hotel Mactan will be the first Megaworld property to transition into Accor’s brand portfolio. It will be rebranded as Mercure Mactan Cebu under a franchise arrangement within the 30-hectare Mactan Newtown township in Lapu-Lapu City, Cebu this year.

“With Mercure Mactan Cebu, we aim to redefine Cebu’s tourism landscape by combining our group’s local expertise with Accor’s global leadership in hospitality,” Megaworld Hotels and Resorts Managing Director Cleofe C. Albiso said.

“Mercure Mactan Cebu will not only enhance the Mactan Newtown development as a destination of choice but also play a pivotal role in driving tourism growth and stimulating the local economy; opening opportunities for better returns for immediate stakeholders and supporting a thriving local community,” she added.

Megaworld said the partnership will allow the integration of Accor’s service standards and reservation system, and include select Megaworld hotels in Accor’s loyalty program, ALL ACCOR.

Accor’s global portfolio includes brands such as Sofitel, Fairmont, Raffles, Swissotel, Pullman, Mövenpick, and Mercure.

Andrew Langdon, Accor chief development officer for Asia, said the group is expanding its premium, midscale, and economy division across sought-after destinations in Asia.

“The Philippines remains a vital market for us, and the signing of Mercure Mactan Cebu is fully aligned with our ambition to meet the growing demand for hotels that serve both leisure and business travelers, driven by the continued rise of bleisure travel,” he said.

“With Mactan-Cebu International Airport among the country’s leading gateways, Cebu is fast emerging as a preferred destination for domestic and international visitors,” he added.

Over the next three years, Megaworld Hotels and Resorts aims to open seven additional hotels in Palawan, Pampanga, Bacolod, and Iloilo, which will increase its room inventory to 9,000 across 20 operational properties.

The upcoming hotels include Chancellor Hotel Boracay, Belmont Hotel Iloilo, Kingsford Hotel Bacolod, Savoy Hotel Palawan, Paraguay Sands Palawan, ArcoVia Hotel, and Savoy Capital Town Pampanga.

Megaworld Hotels and Resorts currently operates about 7,000 rooms across 13 properties located in Metro Manila, Tagaytay, Cebu, and Boracay.

These include Richmonde Hotel Ortigas, Eastwood Richmonde Hotel, Richmonde Hotel Iloilo, Belmont Manila, Belmont Boracay, Belmont Mactan, Savoy Manila, Savoy Mactan, Savoy Boracay, Hotel Lucky Chinatown, Twin Lakes Hotel, Kingsford Hotel Manila, and Grand Westside Hotel.

Megaworld shares rose by 2.27% or four centavos to P1.80 apiece on Wednesday. — Revin Mikhael D. Ochave

Western Union appoints new Philippine head

Western Union director for the Philippines, Guam, Northern Mariana Islands and Palau Ricardo Alair. — WESTERN UNION

WESTERN UNION has appointed Ricardo Alair as its new director for the Philippines, Guam, Northern Mariana Islands and Palau.

“We are thrilled to welcome Ricardo to Western Union. His extensive experience in financial services and telecoms, paired with a sharp understanding of the local market, makes him uniquely positioned to lead our operations in the Philippines and neighboring territories. Ricardo’s leadership will play a key role in enhancing our customer experience and driving meaningful impact across the communities we serve,” Western Union Regional Vice-President for Japan, the Philippines, Australia, New Zealand & Pacific Islands Gregory Laurent said in a statement on Wednesday.

“It is a privilege to join Western Union at such a transformative moment for the industry. The Philippines and surrounding markets have vibrant, fast-moving financial ecosystems and I am excited to drive Western Union’s next phase of innovation and progress. I look forward to working with our teams and partners to bring trusted, relevant solutions that truly support our customers as their needs evolve and grow,” Mr. Alair said.

His appointment comes as the company looks to accelerate its growth in the region to expand financial access for customers, Western Union said.

“With over 20 years of experience across financial services, telecommunications and business strategy, Alair brings a strong track record of innovation, operational excellence and sustainable growth,” it added.

Prior to his appointment, Mr. Alair was deputy general manager at currency exchange company Lulu Money Philippines, leading the launch of its e-wallet business and overseeing startup operations, product development, and full-scale deployment.   

He also spent more than 14 years at Globe Telecom, Inc., including eight years at e-wallet giant GCash, taking on senior leadership roles. — A.M.C. Sy

Dress rehearsal

STOCK PHOTO | Image from Freepik

THEATRICAL PERFORMANCES, like plays and concerts, hold a dress rehearsal in the venue itself. This practice performance features technical tests, performers’ mastery of their roles, and the pacing of the show. The run-through takes out kinks and gets everyone ready for opening night. Even afterwards, tweaks continue to be made to keep the performance fresh and relevant.

A dress rehearsal is performed without a paying audience. The director can intervene and shout corrections or tweaks during the flow of the show. This mock performance tests the actors’ familiarity with their roles, the script memorized and delivered from the heart. Technical glitches are ironed out. (Can you hear us there at the back?)

The musical Chorus Line (1975) uses the audition as its narrative thread. The audition even precedes and leads to the regular rehearsal and the final product. The rousing finale in the play features the song “One” with its glitzy choreography and rousing curtain call.

Businesses have adopted the audition (hiring) and dress rehearsal approach for what they call their “soft opening.” Here, the different moving parts can be determined and properly assigned.

Malls, restaurants, service outlets, and clubs changing concessionaires also adopt this dress rehearsal mode. This not-quite-there-yet level of service accepts paying customers already while lowering their expectations of service levels and delivery times. (We don’t have oysters today.) Why wait until the menu is completely ready? Can the restaurant open its doors and serve real customers with lower expectations? Promotional discounts may be offered as a come-on — But the only dressing we offer today is for Caesar Salad.

Without much fanfare the soft opening sign (now open) is quietly removed after a month. Instead of an actual inauguration featuring balloons and distinguished guests cutting ribbons, the facility then celebrates its first anniversary, a year after… the soft opening date. Maybe a new menu is even added.

Property companies have long practiced this soft-opening phase. They call it “pre-selling.” Printing colorful brochures featuring an architect’s sketch of the development and sample floor plans, aggressive sales teams are formed offering site visits with a bus standing by. They may have just a hole in the ground, maybe not even that, when sales revenues (or deposits) are expected to trickle in. A completion date is vaguely promised — when Jupiter aligns with Mars.

The dress rehearsal for a new employee is called a probationary period. This HR practice allows the company to evaluate how well a new employee fits in and what level of skills he brings along. At the end of this rehearsal, involving a lower salary and only partial benefits (no healthcare coverage), there is the option to regularize the employment status or let the new hire go. Contractual employees do not belong to this category, as they are never regularized.

A soft opening is not always followed by a “hard” opening. Homeowners understand the impatience to move into a house still being completed. Here, the soft-opening phase may include the absence of doors. The impatient homeowner suffers through the smell of paint and dust from the grinding of the mahogany floor with the home still not fully functional. This form of dress rehearsal is expected to speed up the work pace of the already delayed contractors.

Just as openings can be soft, closings can be equally hazy. A small breakfast place you loved and ate at only two months ago during its soft opening may now be boarded up. The doors and windows are papered over as if to prevent you from checking if the familiar print of a fishing village scene is still hanging there.

Vacated places of business always feature a sign on the door announcing a new establishment “soon to open.” A massage place with new décor featuring medical drawings of legs and the blood circulation may be taking over announcing its… soft opening. (Body massage at 50% discount for 15 minutes for seniors.)

Dress rehearsals and soft openings may not be able to guarantee better service once the kinks are eliminated. Being open for business needs to be excellent from opening day. Even a soft opening is expected to deliver good service. Rehearsals are internal to the company… and not meant for a paying audience.

 

Tony Samson is chairman and CEO of TOUCH xda

ar.samson@yahoo.com

Australian companies recover faster from cyberattacks after tougher regulation – study

STOCK PHOTO | Image by DC Studio from Freepik

SYDNEY — Australian companies have sharply reduced the time it takes to recover from cyberattacks, a sign of improved preparedness amid heightened regulatory pressure following high-profile breaches at Optus and Medibank.

Businesses in Australia and New Zealand now take 28 days on average to recover from an incident, down from 45 days a year earlier, according to a survey of 408 information technology executives that was shared exclusively with Reuters. That still trails the global average of 24 days.

“I do put that down to the fact that organizations and enterprises are getting more aware,” said Martin Creighan, Asia-Pacific vice president at US data protection firm Commvault, which commissioned the survey.

“I also put it down to the fact that the regulators are being more stringent and more strict on what their requirements are,” he added in an interview.

Australia introduced mandatory breach disclosures and cybersecurity compliance reporting after 2022 attacks on Optus, owned by Singapore Telecommunications, and Medibank exposed millions of customer records.

The country’s cybercrime agency reported the average self-reported cost of cybercrime per business fell 8%, including an 11% drop for large firms, in the year to June 2024.

Despite improved recovery times, fewer than a third of firms could respond effectively to an attack, and 12% had no formal response plan, showed the survey by Commvault which counts some of Australia’s biggest banks and government departments as clients.

Over half lacked full visibility of where data was stored or how systems were connected, the survey found.

Mr. Creighan said cybersecurity was no longer confined to company tech departments and he had seen a rise in requests to brief boards on cyber resilience “because they’re worried about the regulation landscape.” Reuters

Philippines dips in GSMA Mobile Connectivity Index

The Philippines’ overall index score fell by 0.52 to 67.69 (out of 100) in the latest edition of the Mobile Connectivity Index by nonprofit organization GSM Association (GSMA). The index assesses and tracks the performance of countries against the equally weighted key enablers of mobile internet adoption; infrastructure, affordability, consumer readiness, and content and services. A higher score means a more enabling environment for delivering mobile internet.

Philippines dips in GSMA Mobile Connectivity Index

How PSEi member stocks performed — June 25, 2025

Here’s a quick glance at how PSEi stocks fared on Wednesday, June 25, 2025.


Senate can throw out VP Duterte’s impeachment charges — Escudero

Senate President Francis G. Escudero — SENATE PRIB

By Kenneth Christiane L. Basilio, Reporter

THE SENATE could dismiss the impeachment complaint against Vice-President (VP) Sara Duterte-Carpio if a motion is raised, its chief said on Wednesday, adding that no rules prevent senators from initiating such a move.

Only 13 senators of the 24-member chamber are needed to back a motion to dismiss the impeachment charges, Senate President Francis G. Escudero told a media briefing.

“Where in the Constitution or the impeachment rules does it say that this kind of motion is prohibited?” he asked in Filipino.

“Show me the law or rule that says this kind of motion is prohibited. There’s no such banned motion, and there’s no forbidden request,” he added.

Ms. Duterte, who emerged as a contender in the 2028 presidential election, was impeached by the House of Representatives in February, facing a slew of accusations ranging from budget anomalies to plotting the assassination of President Ferdinand R. Marcos, Jr., his wife and the Speaker. She has denied any wrongdoing.

Her lawyers on Monday filed a response to the impeachment complaint, asking the charges to be dropped as she alleged that congressmen violated the prohibition against multiple impeachment proceedings when they impeached her.

She added the complaint, which she described as a “piece of scrap,” lacked factual basis.

“The Vice-President’s answer with a motion might be discussed,” said Mr. Escudero. “The impeachment court could defer its decision on it, or it might act on it.”

The senators, who would act as jurors for the trial, would decide on the dismissal plea by Ms. Duterte when the impeachment court convenes. The case is expected to start in late July under the 20th Congress.

“Someone has to bring it up,” the Senate President said, referring to the dismissal motion. “It was already brought up in the answer, so I presume her lawyers will do that.”

Senators can raise the same motion, too, he said. “Anyone has the right to make a request, based on their belief, for whatever it is they wish to ask.”

“If there’s an objection and they want it put to a vote — then it will be voted on,” he said.

Mr. Escudero said if senators vote to grant the motion, then it signals that securing the two-thirds vote needed for conviction is no longer feasible.

“If you already have a simple majority to dismiss, then it’s impossible to reach two-thirds,” he said. “Math would dictate that outcome.”

Only the Supreme Court has the authority to determine whether senators violated the 1987 Constitution by dismissing the impeachment case, the Senate President said.

The Constitution states that the Senate “have the sole power to try and decide all cases of impeachment.”

Senators and prosecutors could also raise a motion to immediately convict Ms. Duterte without further trial, said Mr. Escudero. “It cuts both ways.”

“They can move for that too. I can’t stop it from happening,” he said. “But I will not vote for it.”

House spokeswoman Priscilla Marie T. Abante, in response, said the Senate should rule on the complaint based on the merits of the case and should allow the prosecution to present its case to the impeachment court.

“My appreciation of the constitutional principle ‘to try and decide’ includes the presentation of evidence — giving the prosecution an opportunity to present its case and allowing the defense to present its evidence as well to defend its position against the allegations,” she said in Filipino in a separate media briefing.

Michael Henry Ll. Yusingco, a senior research fellow at the Ateneo de Manila University Policy Center said that dismissing the complaint without trial is in violation of the Constitution.

“The command of the constitution is to conduct trial. This is very clear in Section 3 of Article XI. To dismiss the complaint means not to conduct a trial. And so, to grant the motion to dismiss violates the constitution,” he said in a Facebook Messenger chat.

“The impeached official can file a motion to dismiss. But the impeachment court cannot grant this because the command of the constitution is to proceed with trial without delay. To grant the motion to dismiss would mean disregarding this command.”

Further, Ephraim B. Cortez, president of the National Union of Peoples’ Lawyers, said that the Senate rules on impeachment did not provide for a Motion to Dismiss, but required for the respondent to file an Answer, in preparation for the full-blown trial. 

“[This means] that while a Motion to Dismiss is not a prohibited pleading, the rules do not explicitly provide that such a remedy may be availed of,” he said in a Viber message, noting such a motion may be allowed in specified circumstances.

“The absence of such remedy in the Rules of Procedure promulgated by the Senate indicates such a remedy is not available. On its own, the Senate cannot dismiss the complaint considering that it already issued the summons which indicate that the articles of impeachment are sufficient in form and substance.”

Former Supreme Court Justice Antonio T. Carpio said whether the Senate moves to dismiss the impeachment or not, it may be taken up to the Supreme Court.

“If the Senate votes to dismiss, the prosecution can appeal to the Supreme Court.  If the Senate votes not to dismiss, the defense can appeal to the Supreme Court,” he said in a Viber message.

Meanwhile, the House prosecution panel submitted a document to the Senate certifying that the chamber adhered to the Constitution when they impeached the Vice-President and asserted that there was no legal basis for the senators to return the ouster raps.

“This submission is without waiver of the prosecution’s position that there is no legal basis for the return of the Articles of Impeachment forwarded to the Senate,” according to a copy shared with the media.

Senators in early June voted to return the impeachment complaint back to the House to clarify its constitutionality, asking the lower chamber to certify that they lawfully crafted the ouster charges against Ms. Duterte, who was impeached without a hearing.

Senate chief wants Palace to have ‘standby’ authority to lower petrol duties

FUEL PUMPS are seen at a gasoline station in Paco, Manila, Feb. 22, 2025. — PHILIPPINE STAR/NOEL B. PABALATE

SENATE PRESIDENT Francis G. Escudero on Wednesday said he is looking at filing a measure that would provide the Executive the authority to cut down value-added tax and excise duties on petroleum products in the next Congress.

The President or the Finance department should be empowered to suspend oil duties to respond to surging fuel prices, he said at a media briefing, adding he wants to revise the global price reference and trigger level for invoking his proposed “standby” powers.

“It is still being finalized,” he said in Filipino. “Because of the ongoing unrest in the Middle East, one of the measures we’ll file is the standby authority we want to grant… to lower the value-added tax or fix the excise tax rates [on oil].”

“What’s being debated now is the threshold amount,” he added.

The Philippines is a net importer of oil and is highly sensitive to sharp fluctuations in global oil prices. Several local petrol companies implemented a price hike of P1.75 per liter of gasoline, P2.40 per liter of kerosene, and P2.60 liter of diesel on Tuesday. A second round of price hikes are set for Thursday or Friday.

“What will trigger the President’s authority? Is it $80 per barrel, or should we base it on a certain percentage of the projected crude oil price range?” Mr. Escudero said. “Should we still use Dubai crude as the basis, or should it be the Means of Platts Singapore?”

A 2017 law previously allowed the government to suspend the collection of excise tax on petroleum products when world oil prices reach $80 per barrel for three months, but the provision lapsed five years ago.

“The President has no authority to suspend taxes,” said Mr. Escudero, adding that he will ask the Legislative-Executive Development Advisory Council to identify the measure as priority legislation.

Lawmakers of the 19th Congress adjourned for the final time in mid-June. The chambers will convene for the first congressional session of the 20th Congress on July 28.

“What can possibly be done while Congress is in recess is to review if there are tariffs or duties being paid on oil products,” Mr. Escudero said.

Meanwhile, the House of Representatives will focus on prioritizing measures that would help usher in price stability, including soaring oil prices, to ease the burden of ordinary Filipinos, spokeswoman Priscilla Marie T. Abante said in a separate media briefing.

“This is among the issues we want to focus on — how we can help the public cope with rising prices of goods, including fuel prices,” she said in Filipino. “That is among the priorities for discussion in the upcoming 20th Congress.” — Kenneth Christiane L. Basilio

More Filipinos gained access to water, sanitation facilities in 2024

BW FILE PHOTO

By Pierce Oel A. Montalvo, Researcher

MORE FAMILIES gained adequate access to basic drinking water, sanitation, and hygiene (WASH) facilities last year, according to the Philippine Statistics Authority’s (PSA) Annual Poverty Indicators Survey (APIS).

The preliminary 2024 APIS results show that 97.5% of 28.01 million families had access to at least basic drinking water services, up from 96.3% in 2022. The share of families with limited and unimproved access to water also declined to 0.9% (from 1.3%) and to 1.4% (from 2.3%), respectively.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort linked the improvement to the increase in infrastructure spending in recent years, particularly in further expanding water supply sources and improving security for Metro Manila and other urban areas.

This is due to lessons “from some interruption in water supply in 2019, as well as prioritized further during the COVID-19 pandemic when it comes to ensuring continuous water supply and sanitation.” he said in an e-mail.

Reinielle Matt M. Erece, economist at Oikonomia Advisory and Research, Inc. welcomed the improvement but noted the difference between those with “limited” and “unimproved” access is concerning.

This “may show that despite good progress with providing access to clean drinking water, water infrastructure still needs progress,” she said in a separate e-mail.

“In particular, water treatment facilities and pipelines are still needed to reach rural areas that are in dire need of clean drinking water.”

Of the 17 regions, the National Capital Region had the highest access to at least basic drinking water services, at 99.6%, rising from 99.3% in 2022. Central Luzon and Calabarzon followed, with 99.4 (from 99.3%) and 98.6% (from 98.7%), respectively.

The Bangsamoro Autonomous Region in Muslim Mindanao had the lowest access to drinking water at 88.2% (from 87.8%). Mimaropa and the Cordillera Administrative region followed, at 93.1% (from 92.1%) and 94%, respectively.

The PSA defines a basic drinking water source as drinking water from an improved source where collection time does not exceed 30 minutes for a round trip, including queuing.

Access to basic sanitation facilities also increased to 84.7% of families in 2024, from 84% in 2022.

However, those with unimproved or no sanitation facilities stayed at 2.7% and 2.6%, respectively.

Central Luzon had the highest access to basic sanitation facilities at 94.3%, from 92.5%. This was followed by Cordillera Administrative Region at 90.7% (from 87.4%), and Caraga at 88.3% (from 89.3%).

Handwashing access rose significantly to 94% among the 27.07 million families who permitted inspection of their facilities, up from 93.2%.

Cordillera Administrative Region had the most access to basic handwashing facilities at 98.4%, from 91.4%. Following were Central Luzon at 97.8% (from 96.1%), and by Western Visayas at 97.6% (from 97.7%).

Mr. Ricafort said that public-private partnerships and other large infrastructure projects are needed to further improve drinking water supply and sanitation services, to ensure improved coverage of water utility services to more areas, especially in the rural and other underserved areas.

The PSA said the survey related to WASH was primarily undertaken to monitor compliance to the Sustainable Development Goals (SDGs), particularly SDG No. 6, which aims to “ensure availability and sustainable management of water and sanitation for all.”

PHL ship back at Manila port after Japan drills

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THE PHILIPPINE Coast Guard (PCG) on Wednesday reported the arrival of the BRP Teresa Magbanua and the 123-member delegation in a Manila port after its second joint trilateral maritime exercise in Kagoshima, Japan.

The exercise, conducted with the Japan Coast Guard and US Coast Guard, highlighted the significance of maritime cooperation, bolstering ties between the nations as tensions persist in the contested South China Sea.

“The trilateral exercise not only enhanced interoperability among the participating Coast Guards, but also strengthened their collective capability to respond to maritime emergencies and natural disasters,” the PCG said in a statement.

“It also served as a vital platform to exchange best practices, improve operational synergy, and reaffirm the shared commitment to uphold safety, security, and stability in the Indo-Pacific region.”

The exercise included Communication Exercise, Search and Rescue Exercise, Fire Fighting Exercise, Photo Exercise, and Exercise on Transfer of Personnel.

The Philippines has sought to expand its security ties beyond its traditional ally, the US, engaging with other western countries and regional allies as it faces an increasingly assertive China over disputed features in the South China Sea.

China claims nearly all of the South China Sea via a U-shaped, 1940s nine-dash line map that overlaps with the exclusive waters of the Philippines, resulting in clashes at disputed maritime features, as both the countries uphold their claims in the marine-rich water.

KASANGGA EXERCISE
Also on Wednesday, the Philippines and Australia have concluded their first joint military exercises in southern Philippines on Tuesday, Manila’s army said,

The Philippine Army and Australian Defense Force ended Exercise Kasangga — Filipino for ally — in Cagayan de Oro City in the major island of Mindanao, ending a month-long training between their soldiers that involved jungle and urban warfare drills. 

“Let us nurture this alliance, institutionalize our gains, and work tirelessly to contribute to upholding the peace and stability of our region,” Philippine Lieutenant General Rex Luis D. Bergante, chief of the Philippine military’s southern command, said in a statement.

Australia has been one of Manila’s closest allies in the region, and in 2007, the two countries forged a visiting forces agreement allowing their troops to hold joint exercises in each other’s territories. The pact came into force in 2012.

More than 140 troops of Philippines combat engineers and infantry divisions alongside 90 Australian Army soldiers participated in drills that saw their forces practice combat casualty care, reconnaissance operations and breaching exercises, the Philippine Army said.

The top brass of Manila’s army said the drills helped advance both the countries’ commitment to deepening security ties and in keeping the stability of the Indo-Pacific region.

“The bilateral training… marks a significant advancement in both countries’ defense cooperation and shared commitment as strategic partners,” it said. — Kenneth Christiane L. Basilio

PHL welcomes Israel-Iran ceasefire

DEPARTMENT OF FOREIGN AFFAIRS FACEBOOK PAGE

THE PHILIPPINES on Wednesday welcomed the ceasefire agreement between Israel and Iran, which could potentially end a 12-day war that left hundreds dead in the conflict between the longtime, bitter enemies.

In a statement, Manila’s Foreign Affairs department called the ceasefire between Israel and Iran a “crucial step” towards lasting peace in the Middle East, calling both Jerusalem and Tehran to continue diplomatic engagements to sustain the truce.

“We urge all parties concerned to continue engaging in dialogue and negotiations toward a permanent solution to this issue,” it said in a statement published on X.

US President Donald J. Trump brokered a ceasefire between the two countries on Tuesday, two days after Washington joined in on the conflict by dropping bunker-busting missiles on Iran’s secured nuclear facilities. 

Israel launched a surprise air campaign against Iran on June 13, reigniting tensions in the Middle East as it targeted nuclear and ballistic missile facilities as well as top commanders, in what Jerusalem described as an effort to cripple Tehran’s ability to develop nuclear weapons.

The truce, which appeared to be holding, prompted the Department of Foreign Affairs to place Israel and Iran on alert level 3, urging the voluntary repatriation of Filipinos.

There were more than 300 OFWs applying for repatriation from Israel as of June 24, according to the Philippine Embassy in Israel.

In its latest bulletin, it noted 8 Filipinos were wounded, including one critically injured. The other seven have been discharged.

More than 30,000 Filipinos live in Israel, while there are more than 1,000 in Iran. — Kenneth Christiane L. Basilio

Counterfeit banknotes up last year

BSP/BW FILE PHOTO

THE NUMBER of counterfeit banknotes detected by banks’ cash handlers rose by 18.4% in the past year, amid improved detection and consistent correction of previously misclassified notes, the central bank said.

In its 2024 Annual Report, the Bangko Sentral ng Pilipinas (BSP) said this reflected cash handlers are “increasingly becoming adept in counterfeit detection, with a sustained increase in correctly classified submissions to the BSP and a decline in misclassified counterfeits.”

“This is equivalent to 13.2 parts per million, an increase from 12.2 parts per million in 2023,” it said.

The BSP said paper banknotes accounted for the bulk of counterfeits, with the 1000-piso banknote being the most counterfeited at 59.9% followed by 500-piso paper banknote (19.3%).

The 1000-piso polymer banknote has only three low-quality counterfeits recorded in 2024.

“In contrast, counterfeit coins declined by 87.8% and remained below one part per million of genuine coins in circulation,” it said.

In terms of techniques, the predominantly used were inkjet printing (79.7%) of cases, followed by laser printing (12.6%) and altered security threads (7.6%).

The reported counterfeit currencies were highest in the National Capital Region at 52.2%. Region IV-A or CALABARZON, ranked second at 12.2%.

“Counterfeits were frequently recovered in areas with high foot traffic, such as shopping malls (27.2%), supermarkets (25.9%), and wet markets (20.9%),” the central bank said. — Aubrey Rose A. Inosante

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