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Grab launches fully electric taxi fleet in Metro Manila

GRAB.COM

RIDE-HAILING app Grab Philippines has launched fully electric taxi services within Metro Manila.

“With strong support from commuter advocates and the private sector, GrabTaxi Electric underscores how sustainability can be seamlessly integrated into daily routines. The beta rollout also opens the door for real-time feed-back from passengers and drivers, which will inform future expansion and service improvements,” Grab Philippines said in a media release on Thursday.

The all-electric vehicle (EV) fleet operates in partnership with local operator EV Taxi Corp., Grab said, adding that it began operations in key hubs including Makati, Taguig, Pasig, Mandaluyong, Parañaque, and Pasay.

“This rollout marks a significant regulatory and operational milestone for the Philippines, where traditional combustion-engine vehicles still dominate the mobility landscape,” Grab Philippines said.

Currently, GrabTaxi Electric is in its beta phase and offered only to select users, the company said, adding it plans to expand electric vehicle adoption across its GrabCar fleet in other cities such as Davao and Cagayan de Oro within the year.

“This phased rollout will be supported by in-app sustainability features such as voluntary contributions for environmental conservation efforts for every Grab transaction, and deeper collaboration with government and private-sector part-ners to accelerate EV ecosystem readiness nationwide,” it added.

Last year, in 2024, Grab Philippines conducted a pilot study with BYD Philippines to assess the operational and financial viability of electric vehicles for both fleet operators and driver partners. — Ashley Erika O. Jose

Gov’t likely to renew push for DBP charter after veto

COURTESY OF DBP FACEBOOK PAGE

By Kenneth Christiane L. Basilio, Reporter

THE Finance department is likely to continue pushing for the passage of a new charter for the Development Bank of the Philippines (DBP) in the next Congress after the previous proposal was vetoed, the state-run lender’s top official said on Monday.

The bank hopes provisions that would increase its capital stock to P300 billion from P35 billion would be retained in the new bill that would be filed in the 20th Congress as these are a “key part” of the new charter, DBP President and Chief Executive Officer Michael O. de Jesus told BusinessWorld.

“This is up to the Department of Finance (DoF),” he said in an interview on the sidelines of a House of Representatives hearing. “I think they plan to start again, to refile and address all the issues on the veto. I think it will pursue the same one but with revisions and modifications.”

“The [DBP’s] priority is its increased capitalization,” Manila Rep. William “Irwin” C. Tieng, who heads the House banks committee, told BusinessWorld in an interview. “But we will follow the guidance of Malacañang and the DoF regarding the new charter that we will file for the 20th Congress.”

President Ferdinand R. Marcos, Jr. last month vetoed a bill seeking to replace DBP’s 27-year-old charter “due to certain provisions that are either vague or confusing, or conflicting with the Constitution, existing laws, and principles of good governance,” he said in his veto letter to Congress, a copy of which was obtained by BusinessWorld.

The Finance department has pushed for the amendments to DBP’s charter to strengthen its financial position and give it easier access to the capital markets. The proposal approved by the 19th Congress sought to increase the lender’s capital stock to help finance its priority sectors, such as social infrastructure and small businesses.

The bill would have also paved the way for DBP’s listing as it would have allowed the bank to offer up to 30% of its shares to the public, with the National Government mandated to own 70% of its capital stock at all times.

Fitch Ratings said in January that the new charter could help support the state-run lender’s capital restoration following its contribution to the country’s sovereign wealth fund and boost its credit profile.

Mr. Marcos said in his veto letter that the bill’s provision allowing DBP to temporarily appoint directors in its subsidiaries undermines the authority of the Executive over government-owned or -controlled corporations (GOCC) and the standards of accountability and oversight under the GOCC Governance Act. A provision that allows shareholders to vote for the bank’s board members also goes against another provision that authorizes the President to do the same.

He added that the authority granted to DBP to receive dividends from its subsidiaries contradicts the law that requires all GOCCs to remit at least 50% of their annual net earnings to the National Government.

“In addition to encroaching upon a core executive act, the said provisions unintentionally create overreach and duplicity on the scope of the bank’s authority, and the lack of any direction for its implementing rules and regulations render it most vulnerable to abuse,” Mr. Marcos said.

“This lack of clarity could permit a broad range of discretionary acts without sufficient checks and balances, thereby weakening the essential principles of transparency and accountability.”

PHINMA eyes year-end launch for Davao housing project

PHINMA.COM.PH

DEL ROSARIO-LED conglomerate PHINMA Corp. plans to begin development of its maiden community housing project in Davao City within the year.

“PHINMA Community Housing will break ground on its first housing project in Davao by the fourth quarter of this year,” PHINMA President and Chief Operating Officer Chito B. Salazar said during the company’s virtual annual stockholders’ meeting on Thursday.

In a previous regulatory filing, PHINMA said the Davao community housing project will have 530 units. The company is also eyeing Bacolod City as the second site for its community housing initiative.

PHINMA Chairman and Chief Executive Officer (CEO) Ramon R. Del Rosario, Jr. said during the meeting that the community housing projects aim to establish workers’ villages and communities.

“This is a fundamental need with an estimated backlog of over 6.5 million homes,” he said.

In March, the company’s board approved a P250-million investment in PHINMA Community Housing to finance capital expenditures, land acquisition, and other working capital requirements.

PHINMA Community Housing President and CEO Jose Luis M. Oquinena said during the meeting that the projects will include daycare centers and support home-based enterprises tailored to the needs of low-income Filipino families.

“This builds the foundation on community life, being able to support each other and looking at what will support the lifestyle and needs of low-income Filipino families,” he said.

Meanwhile, Mr. Salazar said the first phase of the 21-hectare Saludad township in Bacolod City is expected to go live by yearend.

Launched in October last year, Saludad will integrate residential enclaves, commercial hubs, educational institutions, hospitality components, and retail areas.

Mr. Salazar also said PHINMA Hospitality, Inc. will soon break ground on its second TRYP by Wyndham hotel within the Saludad township, while it is also expanding its Microtel by Wyndham Mall of Asia to accommo-date more local and foreign travelers.

He added that construction is ongoing for another TRYP by Wyndham hotel on Samal Island, marking the company’s entry into the condotel segment.

PHINMA Hospitality currently operates 14 Microtel by Wyndham hotels and one TRYP by Wyndham hotel in the Philippines.

In the first quarter, PHINMA recorded a 27% increase in consolidated net income to P562.62 million, as consolidated revenues rose by 21% to P6.6 billion on the back of stronger sales across its business units.

PHINMA shares were unchanged at P18 apiece on Thursday. — Revin Mikhael D. Ochave

Bryce Dallas Howard leads improv comics undercover in film Deep Cover

ORLANDO BLOOM, Bryce Dallas Howard, and Nick Mohammed in Deep Cover (2025)

LONDON — Jurassic World actor Bryce Dallas Howard takes on London’s criminal underworld in action comedy Deep Cover, playing an improv teacher who goes undercover.

The American stars as Kat, who along with her two students Marlon and Hugh, played by Orlando Bloom and Nick Mohammed, respectively, are recruited by a police cop to infiltrate a criminal gang.

Never breaking character and sticking to their “yes and…” improv comedy rule, the trio soon find themselves inside London’s threatening gangland.

“The script was so tight, so fun and of course I related to it, being an actor myself,” Ms. Howard told Reuters at the film’s world premiere at the SXSW London festival on Wednesday.

“There was lots of giggling and lots of laughing,” she added about making the movie.

Released on Prime Video on June 12, Deep Cover sees Mr. Bloom, who shot to fame in The Lord of the Rings movies, play a committed method actor. Ted Lasso actor Mr. Mohammed portrays a lonely worker drawn to Kat’s classes to gain confidence.

“There are quite a lot of scenes… that were just done in one take… because you just need to have all of that energy… pinging around between them (Howard, Bloom) and Mohammed,” director Tom Kingsley said. “And they’re all playing different characters to what you would normally expect.”

Asked if he tried to make Ms. Howard and Mr. Bloom laugh on set given his comedy background, Mr. Mohammed said: “I would play around a little bit… changing some of the lines every so often. But… they were just up for it.”

Apple TV+ has announced a fourth season of Emmy-winning comedy series Ted Lasso, in which Jason Sudeikis played the American coach of upstart British football team AFC Richmond and Mr. Mohammed portrayed kitman-turned-coach Nate Shelley.

Asked what he could say about season four, in which Lasso will coach a women’s football team, Mr. Mohammed said: “I only know what’s in the press at the moment… I can’t wait to see it. Who knows if Nate’s in it… we will see.”

The inaugural SXSW London, the European edition of the annual Austin, Texas, South by Southwest music, technology and film festival, runs June 2-7. — Reuters

Rising with the Machines: Harnessing AI for human development

FREEPIK | Image by Selva Ramachandran and Mohamed Shahudh from FREEPIK

By Selva Ramachandran and Mohamed Shahudh,

They say that the best way to predict the future is to shape it. In the past decade, the innovation that’s been hailed as having the most potential to direct and navigate this future is Artificial Intelligence (AI).

AI is not simply an advanced form of digitalization; it is a general-purpose technology, like electricity, with the potential to transform a wide range of sectors. Its multimodal adaptability allows it to influence education, healthcare, governance, and beyond. But this transformative potential is not inevitable. And as emphasized in the recently launched 2025 Human Development Report (HDR) by the United Nations Development Programme (UNDP), powerful as it may be, the future of AI is not preordained — it is shaped by the choices we make.

AI is progressing at a pace far surpassing earlier innovations such as the internet or personal computers. Between 2022 and 2025, AI-related investment is projected to double to $200 billion, three times the global spending on climate change adaptation. By 2033, the UN estimates that AI could be worth $4.8 trillion, equivalent to Germany’s current GDP.

This growth, however, is unfolding amid a slowdown in global human development and increasing global geopolitical uncertainty. The HDR highlights that current human development gains are among the slowest in decades. Traditional development pathways, such as export-led growth, are narrowing amid rising trade tensions and shrinking external finance.

Within this context, AI could serve either as a catalyst for inclusive development or as a force that deepens inequality. The outcome hinges on how we decide to leverage it.

The global AI ecosystem is currently concentrated and uneven. According to UNCTAD (UN Trade and Development), around 100 firms, mostly in the US and China, account for 40% of global corporate R&D. In these economies, AI investment could reach 2% of GDP. The private sector holds an outsized influence over AI’s evolution. According to the same report, fewer than one-third of developing countries have national AI strategies, with several missing from governance discussions. This growing imbalance makes it urgent to decide how and for whom AI should serve.

The Philippines embodies both the opportunities and risks of the AI era. A recent International Monetary Fund (IMF) report estimates that one-third of Filipino jobs are vulnerable to AI disruption, yet 61% have high potential for AI-driven augmentation. In sectors like education, AI can support teachers by identifying learning gaps and tailoring content. In business process outsourcing, or BPO, services, where 1.7 million jobs contribute 7.4% of GDP, routine tasks are increasingly automatable. However, with the right mix of policies, including skills upgrading and incentives for augmentation, this sector can remain both competitive and inclusive.

The HDR offers a roadmap through three interlinked strategies: investing in capabilities, building a complementarity economy, and driving innovation with intent. For the Philippines, this means not only expanding AI-related human capacities and infrastructure but also ensuring that these efforts are aligned with inclusive development. Scaling social protection systems, supporting workforce transitions, and linking innovation to public goals are essential.

On education, the Philippines allocated 3.62% of GDP to the sector in 2023, above the low- and middle-income countries’ (LMIC) average and close to upper middle-income countries’ (UMIC) average spending. However, the Philippines’ scores in the Program for International Student Assessment or PISA, measuring performance across STEM subjects, lag behind its ASEAN peers. Two key opportunities can help turn spending into results. First, the new Public Financial Management Reform Roadmap (2024–2028) shifts focus from inputs to outcomes, creating space to strengthen education through early childhood and skills-focused reforms. Second, greater fiscal decentralization, as highlighted by the World Bank, could improve the effectiveness of future programs.

Some concerns have been raised about how AI’s energy demand is rising fast. The IMF projects that data center electricity use could triple by 2030, equaling India’s current demand. In the Philippines, only 2.41 gigawatts (GW) of the 29.23 GW installed capacity in 2023 came from wind and solar, despite the vast potential. Unlocking sustainable energy sources could significantly cut electricity costs — the second highest in ASEAN after Singapore. While AI can help optimize grid efficiency, its energy use must not crowd out energy access for underserved communities. With the right approach, AI can turn renewable planning from a challenge into an opportunity.

As the 2025 Human Development Report reminds us, the path AI takes is not written in code — it is written in integrated policy, ethical deployment, and strong investments in human capital and innovation ecosystems. For countries like the Philippines, the moment to shape that path is now. The tools are in hand: a talented workforce, a growing innovation ecosystem, and a public sector willing to engage with transformation.

But to ensure AI becomes a driver of inclusive progress, not a deepener of divides, we must act fast with intention. That means investing in people as much as in technology, aligning innovation with public goals, and ensuring no community is left behind in the digital leap forward.

In the end, the real power of AI lies not in the technology itself, but in how we choose to wield it. If we are bold, deliberate, and inclusive in our approach, we can shape an AI-powered future that serves not just the few but ALL.

Dr. Selva Ramachandran is the UNDP resident representative in the Philippines and Mohamed Shahudh is an economist at UNDP Philippines.

Visa partners with Maya Group to enable account funding with foreign-issued cards

Photo Credit: VISA

VISA has partnered with Maya Group to allow the app’s users to make cash in transactions with its foreign-issued cards.

Under the partnership, Visa will enable cross-border account funding transactions in the Maya app.

“This innovative partnership allows Maya users to seamlessly pull funds from foreign-issued Visa cards and load them directly into their Maya accounts, expanding payments flexibility,” Visa said in a statement. “Upon cashing in from their foreign-issued Visa cards, Maya users can now spend, save, and even invest their money in the Philippines through the Maya app.”

This will help expatriates, overseas Filipino workers (OFWs), tourists, and even freelancers manage their finances easily, it added.

“Our longstanding partnership with Maya continues to grow from strength to strength, and with this latest collaboration, we help make digital payments even more flexible. By enabling funding transactions from foreign-issued Visa cards, we provide Maya users with the power and convenience to manage their finances effortlessly, while ensuring seamless and secure transactions. This connects them to countless possibilities through their Maya accounts,” Visa Country Manager for the Philippines Jeffrey Navarro said.

“With this new feature, we’re making it easier for Filipinos and OFWs to move money from their Visa cards abroad straight into their Maya wallets. Maya has redefined how we spend, save, and invest — and we’re pleased to bring the same ease and flexibility to cross-border payments,” Maya Group Chief Commercial Officer Khurram Malik added.

Maya Innovations Holdings, Pte. Ltd., formerly Voyager Innovations Holdings, Pte. Ltd., is the parent holding company of Maya Philippines, Inc. and Maya Bank, Inc.

Maya Philippines is registered with the Bangko Sentral ng Pilipinas (BSP) as an electronic money issuer, remittance and transfer company, operator of payment system, and virtual asset services provider.

Meanwhile, Maya Bank is one of the six BSP-licensed digital banks in the country.

Maya Group posted a first-quarter net income of P127 million.

PLDT Inc. is Maya Innovations’ main shareholder. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls.

Panasonic Manufacturing PHL to start Laguna facility construction by October

PANASONIC.COM

LISTED appliance producer and retailer Panasonic Manufacturing Philippines Corp. (PMPC) will start construction of a new factory building in Sta. Rosa, Laguna by October following a fire incident in December 2023 that destroyed its previous facility.

The new building is expected to be completed within two years from the start of construction, PMPC said in a regulatory filing on Thursday.

PMPC signed a building contract with Kujima Philippines Inc. for the project.

“There will be no negative impact of the execution and signing of the building contract by PMPC with Kujima Philippines on the company’s business and operations,” PMPC said.

PMPC’s washing machine and electric fan factory building at Laguna Technopark in Sta. Rosa was gutted by fire in December 2023.

The company said the building was fully demolished after its fire insurance claim was settled.

PMPC manufactures, imports, and distributes various appliances. Its primary products include refrigerators, air conditioners, and washing machines.

The company also offers electric fans, freezers, TV sets, digital audio-visual products, communications equipment, office automation equipment, cooling equipment, and various kitchen and home appliances.

PMPC shares declined by 8.72% or 64 centavos to P6.70 per share on Thursday. — Revin Mikhael D. Ochave

Companies’ role critical in upskilling — DoLE

PHILIPPINE STAR/NOEL B. PABALATE

THE DEPARTMENT of Labor and Employment (DoLE) said on Thursday that it is looking to the private sector to upskill job seekers.

“It’s important that we see the private sector’s role in ensuring that we have interventions for our workforce, especially for upskilling and reskilling initiatives,” Labor Assistant Secretary Patrick P. Patriwirawan, Jr. told reporters on the sidelines of the National Skills Summit 2025.

He added that current job seekers lack the soft skills as well as communication, teamwork, and time management skills needed to effectively navigate the workplace.

Yu Ming Chin, executive director of Viventis Search Asia, said that the private sector must invest in the skills of its hires.

“You work in a company and the company has to manage the training,” he told reporters. “If we become too dependent on the government their abilities could be lacking.”

He cited the need for analytical skills in the workplace, to improve problem-solving capacity.

Mr. Patriwirawan added: “Hard skills are also something that the DoLE is monitoring because (of the demand for) hard to fill technical skills.”

“This is an important aspect of the labor market. If they are not readily available, it is important that we have interventions and skills training ready,” he said.

The government currently conducts skill and development training through the Technical Education and Skills Development Authority.

“We have an ongoing collaboration with DepEd. We have upcoming job fairs with the senior high school (graduates) to ensure that our K-12 graduates are employable,” he added.

The K-12 (Kindergarten to Grade 12) program added two more years to basic education with the intent of making graduates employable and globally competitive.

Education Secretary Juan Edgardo M. Angara said that DepEd (Department of Education) needs to adjust the curriculum of schools to match the needs of employers, especially in Senior High School programs.

“The tendency is the curriculum won’t match or won’t help a students get a job,” Mr. Angara told reporters.

He added that schools must also integrate digital literacy in the newer curricula so graduates are at home with artificial intelligence (AI).

“Digital literacy is a crucial part of the curriculum and digital literacy is not the only skill for AI. It is important that a student not only knows how to read and write. It is important that he understands what he reads and writes,” Mr. Angara said.

The DepEd is set to implement a new K-12 curriculum in the upcoming school year, featuring the reduction of educational tracks for senior high school to two — academic and technical-professional.

It also cut the number of core subjects to five from 15. The five subjects are Effective Communications, Life Skills, General Mathematics, General Science, and the study of Philippine History and Society. — Adrian H. Halili

Sean ‘Diddy’ Combs held Cassie’s friend on balcony ledge, jury hears

Sean “Diddy” Combs on the talk show Late Night with Seth Myers. — IMDB

NEW YORK — Hip-hop mogul Sean “Diddy” Combs held a friend of his former girlfriend Casandra Ventura on the ledge of a balcony of a 17th floor apartment in September 2016, the friend testified on Wednesday at Mr. Combs’ sex trafficking trial.

Bryana Bongolan, Ms. Ventura’s friend, told jurors in Manhattan federal court that Mr. Combs then came up to her from behind on the balcony of Ms. Ventura’s Los Angeles apartment, lifted her up, and placed her on top of the balcony’s rail.

Mr. Combs then told her several times, “You know what the fuck you did,” Ms. Bongolan testified.

“For a split second I was thinking about if I was going to fall, but for the most part he was yelling at me, so I was trying to answer him,” Ms. Bongolan, 33, told the jury.

Ms. Bongolan testified that she told Mr. Combs she did not know what she had done. To this day, she does not know what Mr. Combs believed she did, Ms. Bongolan said.

Mr. Combs, 55, has pleaded not guilty to five counts including racketeering conspiracy and sex trafficking.

Federal prosecutors in Manhattan say Mr. Combs over two decades coerced women, including Ms. Ventura, to take part in drug-fueled sexual performances with male sex workers known as “Freak Offs.”

The trial is in its fourth week.

Ms. Ventura, a rhythm and blues singer known as Cassie, told jurors last month she took part in Mr. Combs’ Freak Offs for about a decade, at first to please him and later because he blackmailed her with videos of the encounters.

She said Mr. Combs frequently beat her.

Prosecutors with the Manhattan US attorney’s office say Mr. Combs and his associates used force and the threat of force to coerce women to take part in the Freak Offs and to make sure witnesses to his abuse remained quiet.

Mr. Combs’ lawyers have acknowledged he was at times abusive in domestic relationships, but argue that women who took part in Freak Offs did so consensually.

Ms. Bongolan said Mr. Combs and Ms. Ventura often had a volatile relationship. Ms. Bongolan said she saw Ms. Ventura with a black eye or bruises on multiple occasions. Once, Ms. Bongolan said she saw Mr. Combs throw a knife in Ms. Ventura’s direction in Ms. Ventura’s apartment.

Another time, on the beach in Malibu, California, Mr. Combs approached Ms. Bongolan and said, “I’m the devil and I could kill you,” Ms. Bongolan testified. She said she did not know why Mr. Combs told her that.

Ms. Bongolan said the 2016 balcony incident took place early one morning after she had spent the night at Ms. Ventura’s apartment. She said she was about 5 feet 1 inch (155 cm) tall and weighed between 100 and 115 pounds (45 to 52 kg) at the time. Mr. Combs, Ms. Bongolan said, was “bigger.”

After holding her on top of the balcony’s rail for between 10 and 15 seconds, Mr. Combs threw her onto the balcony furniture, Ms. Bongolan said. Jurors saw photographs Ms. Bongolan took of bruises she said she suffered as a result of the incident. Ms. Bongolan says she still has night terrors and paranoia.

Mr. Combs could face life in prison if convicted on all counts. Prosecutors have said they may finish presenting their case next week, allowing the defense to put on its case. — Reuters

The state of heritage conservation in the Philippines

The restored BarAsoain Church

For almost a century, the conservation of structures in the Philippines has been a quiet yet steadfast practice. Although only a handful of buildings were formally recognized as heritage during the Spanish and American Colonial Periods, the drive to preserve our architectural legacy — particularly civic and church structures — has been an enduring part of our national identity.

In the aftermath of the 1863 earthquake, the Pasig Church Bell Tower was restored by Felix Roxas, symbolizing an early example of heritage conservation. During the Malolos Convention, Arcadio Arellano meticulously repaired the Barasoain Church. Likewise, Tomas Mapua oversaw the restoration of the Intendencia de Intramuros and the Ayuntamiento de Manila in 1935 in anticipation of the Commonwealth Proclamation. The most ambitious of these early efforts came in the 1980s when the Intramuros Administration (IA) restored the entire walls of Intramuros — an unprecedented feat that remains the largest conservation project in Philippine history.

The dawn of the 21st century saw a renewed and growing awareness of our historical and cultural heritage. This was fueled in part by social media platforms that inspired pride in our past and by the enactment of Republic Act 10066, the National Cultural Heritage Act, which mandated the conservation of our country’s irreplaceable treasures. The recent restoration of the Metropolitan Theater by the National Commission for Culture and the Arts, better known as the NCCA, exemplifies the dedication required for this cause.

Despite the challenges, the project demonstrated that with collective resolve, we can reclaim and breathe new life into our heritage. The adaptive reuse of landmarks like Kalayaan Hall and the Teus and Goldenberg Mansions in the Malacañang Palace Complex, also highlights how these historic structures continue to remain relevant and meaningful in our contemporary context.

Equally fascinating is the modern bayanihan (communal) spirit behind the concept of Transferring Heritage Structure, the Las Casas Filipinas de Acuzar in Bagac, Bataan. It may not be ideal but it has served as a testament to this innovative approach — dismantling and rebuilding heritage buildings piece by piece to create a new setting that honors and celebrates our past.

Today, the most ambitious restoration effort is the Department of Education’s Gabaldon Restoration Project, launched in 2018 under Republic Act 11194. It aims to restore and conserve over 1,000 historic schoolhouses, safeguarding them as centers of learning and culture for generations to come. Simultaneously, the Department of Public Works and Highways initiated the “Big One Preparedness Program” to assess and retrofit old structures in Metro Manila, a necessary measure given the region’s vulnerability to earthquakes.

The conservation movement is now rallying around the effort to restore the 1926 Manila Central Post Office Building, ravaged by fire in 2023, and the Aduana or Intendecia de Manila of 1876. These iconic structures, symbols of our country’s architectural heritage, have inspired a wave of collaboration among cultural agencies and the private sector determined to restore them to their former glory.

Despite these significant milestones, conservation in the Philippines remains fraught with challenges — chronic underfunding, limited government support, the constant threat of natural disasters, and a general lack of public awareness. Moreover, many conservation projects are led by untrained individuals, echoing the same obstacles that have confronted conservationists for over a hundred years.

The delicate balance between preserving our heritage and accommodating modernity is an ever-present struggle. Yet, even as these challenges persist, the story of conservation in the Philippines is one of hope, resilience, and an unwavering commitment to our shared history.

Much has been achieved, but much more lies ahead. As time marches on and new structures join the “old column,” they will need the care of skilled and passionate stewards — architects, students, and history lovers — ready to face the signs of wear, neglect, and deterioration with knowledge and resolve. It is upon us to ensure that we are not only conserving and preserving but also championing the heritage that defines us.

Joel Vivero Rico, FPIA, UAP is an award-winning conservation architect, author, historian, heritage consultant, archaeologist, and history professor at De La Salle-College of Saint Benilde Design and Arts since 2011. He served as national president of the Philippine Institute of Architects, was deputy director of UAP Sentro ng Arkitekturang Filipino, president and CEO of Archaeology + Heritage (A+H), past executive council member of the NCCA Committee on Architecture and Allied Arts, and is currently an NCCA Executive Council Member in the National Committee on Monuments and Sites.

Peso strengthens on soft US data

BW FILE PHOTO

THE PESO strengthened on Thursday as weak US economic data weighed on the dollar.

The local unit closed at P55.62 per dollar, rising by 15.1 centavos from its P55.771 finish on Wednesday, Bankers Association of the Philippines data showed.

The peso opened Thursday’s session stronger at P55.635 against the dollar. It traded better than Wednesday’s close the entire session as its worst showing was at just P55.70, while its intraday best was at P55.56 versus the greenback.

Dollars traded jumped to $1.77 billion on Thursday from $1.36 billion on Wednesday.

“The peso appreciated after the latest ADP private payrolls report came in way weaker than market expectations, raising renewed concerns on the US labor market,” a trader said in an e-mail.

The dollar drifted in muted trading on Thursday after weak US economic data revived fears of slow growth and high inflation, Reuters reported.

The soft data, which showed US services sector contracted for the first time in nearly a year in May and an easing labor market, led to a rally in Treasuries and increased the odds of interest rate cuts from the US Federal Reserve this year.

In Asian hours, currency market moves were tepid as investors were hesitant in making major bets, awaiting developments for fresh cues on the economy, tariffs and trade deals. The dollar index, which measures the US currency against six others, was at 98.87 and has dropped about 9% this year, poised for its weakest yearly performance since 2017.

Investors are now awaiting Friday’s monthly payrolls figures to gauge the state of the labor market after payroll processing firm ADP reported that US private payrolls increased far less than expected in May.

The peso was also supported by benign May inflation data, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

Headline inflation slowed to an over five-year low of 1.3% in May from 1.4% in April and 3.9% the same month a year ago, the government reported on Thursday. — Luisa Maria Jacinta C. Jocson with Reuters

This matched the median estimate yielded in a BusinessWorld poll of 17 analysts conducted last week and was within the Bangko Sentral ng Pilipinas’ 0.9%-1.7% forecast for the month.

This also marked the fourth straight month of deceleration and tenth straight month of inflation settling within the 2-4% target band.

For the first five months, inflation averaged 1.9%.

Philippine financial markets are closed on Friday (June 6) due to the Eid’l Adha holiday. — Luisa Maria Jacinta C. Jocson with Reuters

Harvey Weinstein’s accusers ‘all said no,’ prosecutor tells jury as rape retrial ends

COMMONS.WIKIMEDIA.ORG

NEW YORK — A prosecutor on Wednesday told jurors in Harvey Weinstein’s Manhattan retrial that the evidence clearly showed the former movie mogul raped three women, pushing back on a defense lawyer’s efforts to paint the accusers as liars.

Prosecutor Nicole Blumberg picked up where she left off during closing arguments the previous day, seeking to show that Mr. Weinstein forced himself on the women despite their pleading with him to stop.

The Academy Award-winning producer and Miramax studio co-founder is accused of raping aspiring actress Jessica Mann in 2013 and assaulting the two other women in 2006 and 2002. Mr. Weinstein, who has denied ever having non-consensual sex or assaulting anyone, has pleaded not guilty. The trial began in April.

“Members of the jury, he raped three women. They all said, ‘no,’” Ms. Blumberg said.

Mr. Weinstein, 73, is on trial for a second time after a New York state appeals court threw out his conviction in April 2024. Experiencing a litany of health problems, Mr. Weinstein was present in court on Wednesday in a wheelchair, wearing a dark suit and tie.

Before Ms. Blumberg’s pitch to jurors Wednesday, defense lawyer Arthur Aidala twice moved for a mistrial based on the prosecutor’s arguments the previous day, but the motions were swiftly denied by state Supreme Court Justice Curtis Farber.

The 12 jurors are due to begin deliberations after closing arguments are completed, and Mr. Farber instructs them on the law.

Ms. Blumberg on Tuesday called Mr. Weinstein a serial predator who promised career advancement in Hollywood to women, only to then coax them into private settings where he attacked them. She urged jurors Wednesday to disregard the defense’s claim that Mr. Weinstein was on trial because he was famous and that prosecutors were trying to criminalize consensual sex.

“We heard a lot about ‘policing the bedroom’ yesterday,” Ms. Blumberg said, referring to Mr. Aidala’s closing argument on Tuesday. “We don’t want to police bedrooms either — unless you’re forcibly raping someone inside them.”

Mr. Aidala on Tuesday accused the three alleged victims of lying on the witness stand out of spite after consensual sexual encounters with Mr. Weinstein failed to deliver them Hollywood stardom.

“They are lying about what happened. Not about everything, but about a small slice — just enough to turn their regret, their buyers’ remorse, into criminality,” Mr. Aidala said of the accusers.

The lawyer hoisted a dozen poster-sized placards showing e-mails from the accusers where they seek Mr. Weinstein’s company after the alleged attacks, saying they showed the women were lying.

Mr. Weinstein faces a maximum sentence of up to 29 years in prison if convicted on all charges. He already will likely spend the rest of his life in prison due to a 16-year prison sentence given to him after being found guilty in December 2022 of rape in California.

He was convicted of rape by a jury in the previous trial in Manhattan in February 2020, but the New York Court of Appeals threw out the conviction and ordered a new trial, citing errors by the trial judge. Mr. Weinstein had been serving a 23-year sentence in a prison in upstate Rome, New York, when the conviction was overturned.

That conviction was a milestone for the #MeToo movement, which encouraged women to come forward with allegations of sexual misconduct by powerful men. More than 100 women, including famous actresses, have accused Mr. Weinstein of misconduct.

Mr. Weinstein has been held at New York City’s Rikers Island jail since his conviction was overturned. He has experienced several health scares while being held at Rikers, and in September was rushed to a hospital for emergency heart surgery. — Reuters

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