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Gilas Pilipinas will have new outfitter, says SBP

GILAS PILIPINAS will sport new gear and kits this year after an end to its long-time partnership with renowned sports brand Nike.

In an announcement over the weekend, the Samahang Basketbol ng Pilipinas (SBP) said it will have a new partner for tournaments in 2025 following an almost two-decade collaboration with the Swoosh brand.

SBP, the country’s national basketball federation, said it’s already in the process of finalizing a deal with a new partner and will announce the new tie-up soon for all its national teams including the women, youth and 3×3 squads.

“The SBP has ensured that all Gilas teams will continue to be fully equipped for their upcoming local and international tournaments,” said the SBP.

“Athletes will receive high-quality on-court and off-court apparel, compliant with tournament regulations, to perform at the top level. More details about SBP’s new outfitter will be announced soon.”

Gilas is expected to sport the new shoes, apparels and jerseys starting in the final window of the 2025 FIBA Asia Cup Qualifiers on Feb. 20 against Chinese Taipei and Feb. 23 against New Zealand.

Before that, Gilas also has a scheduled training camp and pocket tournament in Doha against Qatar, Lebanon and Egypt on Feb. 15 to 17.

Gilas, mentored by the legendary Tim Cone, is already assured of a slot in the Asia Cup slated on Aug. 5 to 17 in Jeddah, Saudi Arabia with a 4-0 slate in Group B of the ongoing qualifiers.

All national teams under SBP have been under Nike since 2007, marking a fruitful partnership that led to a bevy of milestones for the Filipino ballers.

Nike served as the official outfitter of Gilas since the foundation of the Smart Gilas program under sports patron and SBP Chairman Emeritus Manny V. Pangilinan and snowballed to Gilas’ rise to the world rankings.

Included in that stretch were appearances at the 2014 and 2019 FIBA World Cup as well as the country’s hosting of the 2023 FIBA World Cup in Manila on top of a multitude of Asian tourneys.

Gilas, world No. 34, was also with Nike when it won the Asian Games in 2023 in Hangzhou to snap a 61-year gold medal drought after a stunning upset of home team China in the semifinals and Jordan in the finale.

The last time Gilas sported Nike was in the second window of the Asia Cup Qualifiers in November last year at home at the Mall of Asia Arena against New Zealand and Hong Kong with a new, brighter blue-themed colorways.

Gilas used the same colorway in its gallant stand last July in the FIBA Olympic Qualifying Tournament in Riga, where the team had a semifinal finish highlighted by a historic 89-80 win over world No. 6 Latvia.

It’s the first win of the Philippines against any European team in 64 years.

Under Nike, Gilas established its own identity with its famed “PILIPINAS” fine print in front of a royal blue-themed jersey with white and red on the sides in honor of the Philippine flag. — John Bryan Ulanday

Asian and SE Asian champ EJ Obiena rules Metz, France event

EJ OBIENA — OLYMPICS.COM

TWO-TIME OLYMPIAN EJ Obiena made true to his vow of coming back with a vengeance following his Paris heartbreak after claiming his second straight medal including a sparkling gold medal in France on Saturday to start his indoor season campaign early.

The World Championship bronze winner cleared 5.7 meters (m) in reigning supreme in the eight-man Meeting Metz Moselle Athlelor in seizing the mint, his second this year after copping a silver in Cottbus, Germany more than a week ago.

It was a fulfillment of a promise made by the Asian and Southeast (SE) Asian champion and record-holder of doing everything to regain his old form after coming up short of a dream Olympic medal in the French capital last year.

While his clearance in Metz wasn’t particularly the height he desired, it was still an improvement from the 5.65 m he set in Cottbus where he wound up second to American former world champion Sam Kendrick’s 5.75 m.

Mr. Obiena, seeking to reclaim the World No. 2 ranking after dropping to No. 4 this year, actually ended up tied for first with Dutch Menno Vloon but the former ended up with the title via countback after clearing it on the first attempt.

Mr. Vloon settled for the silver. American Chris Nilsen took the bronze with a 5.6 m.

Mr. Obiena went straight for his season-best 5.85 m but failed in three attempts. He hopes to sustain his magnificent start as he goes to Dusseldorf, Germany for the ISTAF Indoor. — Joey Villar

Bullpups sweep first round of UAAP juniors

VENGEFUL National University-Nazareth School (NUNS) clipped reigning champion Adamson University in a highly-anticipated finals rematch, 73-60, to complete a first-round sweep in the UAAP Season 87 high school boys’ basketball tournament on Sunday at the FilOil EcoOil Centre in San Juan.

Carl Alfanta tallied 15 points, four rebounds and two assists as the Bullpups bolstered their redemption tour with a 7-0 slate in the first round.

NUNS bowed to Adamson in three games last year as the latter snapped a 31-year title drought marked by a convincing 90-73 win in Game 3.

There was no denying the Bullpups this time around with Collins Akowe (14) and Miguel Palanca (11) chipping in solid contributions.

Mr. Akowe, the 6-foot-10 Nigerian ace who clinched the MVP in Season 86, also collared 16 rebounds and seven assists for a near triple-double performance laced by a steal and a block.

Sanir Sajili (18) and last season’s Finals MVP Mark Esperanza (12) were the lone bright spots for the Baby Falcons, who lost key guys JC Bonzalida, Vince Reyes and Gene Carillo and Mythical Team member Tebol Garcia. — John Bryan Ulanday

Dončić trade still

The Mavericks have caught a lot of flak from all quarters in the wake of their decision to effectively reconfigure their quest for a championship by trading away their biggest asset. Clearly, they were put off by the prospect of a ballooning payroll in continuing to build around wunderkind Luka Dončić. A whopping $345-million supermax contract was on the horizon, and they did not think he deserved it, never mind his status as a five-time First Team All-NBA selection and perennial Most Valuable Player candidate. And so they dealt him to the Lakers for Anthony Davis — admittedly another superstar who competes on both ends of the court, but who is likewise seven years older and therefore with an upside that figures to be more time-bound.

In this regard, general manager Nico Harrison is right. The Mavericks’ window of opportunity just got shorter — make that much shorter. And to argue that the move is a monumental gamble would be to understate the obvious. They truly, utterly believe they have placed themselves in a better position to compete for the hardware in the short term. Unfortunately, their confidence is not shared elsewhere; outside of the front office and the coaching staff, their drumbeating is being viewed as misguided at best and unrealistic at worst.

Which is why Harrison and chief bench tactician Jason Kidd are prepared to walk the walk as much as they have talked the talk. The other day, the latter noted in a presser that “we had to get better” coming off a finals appearance. “What we’re doing right now is part of the journey, and this is just the start. So, hopefully, with the changes we’ve made, that can lead us back to the Finals and find a way to win.” The operative word is, to be sure, “hopefully;” not for nothing have the Mavericks won only nine of 24 matches since Dončić was sidelined on Christmas Day due to a strained left calf.

The good news is that Davis has the singular talent to live up to expectations and earn back the fans’ trust in the Mavericks’ capacity to take the measure of the league elite. The bad news is that, as stellar as he may be, he has a history of injury that threatens to derail him in his new role. On Sunday, for instance, his stellar first half in his home debut was overshadowed by a non-contact injury late in the third quarter. In other words, the task at hand won’t be an easy one for the blue and white. The way to earn the fans’ trust will entail no small measure of good fortune, and require them to not just win, but win big.

 

Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994. He is a consultant on strategic planning, operations and human resources management, corporate communications, and business development.

Del Monte partners with TikTok Shop, achieves 950x LIVE GMV growth

Del Monte continues to enrich lives and nourish Filipino families through its beloved products. With the launch of its TikTok Shop, the brand has significantly expanded its reach, achieving a 950x growth in live Gross Merchandise Value (GMV) and resonating with broader digital audiences.

As a trusted and iconic brand, Del Monte collaborated with TikTok Shop using innovative features such as key livestream sessions, affiliate marketing, and the ACE Indicator System—a framework of Assortment, Content, and Empowerment. These tools effectively broadened Del Monte’s digital reach and showcased its latest offerings.

Del Monte’s strategic approach during the 11.11 Mega Campaign delivered impressive results, highlighting the powerful impact of TikTok Shop. Compared to the 10.10 campaign, the brand achieved a remarkable 148% increase in total GMV, with affiliate GMV rising by 76%. Affiliate live sessions experienced 212% growth, and affiliate video content grew by 44%. These achievements highlight how Del Monte effectively used TikTok Shop’s tools to drive significant growth through digital engagement.

“As we churned out more live events with the support of TikTok Shop, it has been a wonderful journey for Del Monte,” said Leandro Oviedo, Del Monte eCommerce Director. “Also with TikTok Shop, we found newer ways to excite our consumers, especially with engaging and informative content that we publish.”

Power of Shoppertainment and Engaging Content

Through TikTok Shop, Del Monte has leveraged the power of shoppertainment to amplify its digital presence, engaging more than 35,000 viewers with fresh product offerings like dairy and snacks. With a focus on appealing to a younger audience, Del Monte has introduced relatable short videos packed with useful information, elevating their online presence and making their products more accessible and attractive.

A key aspect of this approach has been Del Monte’s innovative livestream sessions, which have transformed traditional retail experiences into real-time interactions with consumers, driving significant increases in engagement and sales. This real-time engagement has allowed the brand to create authentic connections, giving consumers a direct way to learn about Del Monte products and fostering brand loyalty.

Additionally, Del Monte’s use of TikTok Shop’s affiliate marketing has enhanced brand visibility, as collaborations with creators through competitions and creator asks have fostered meaningful connections and expanded their digital reach.

“Through impactful content and strategic collaborations with the right influencers, we’ve been able to engage with our audience in a way that feels both fun and personal,” said Oviedo. “It’s not just about promoting a product; it’s about creating genuine connections that go beyond the screen. By engaging directly with consumers in real-time through live selling, we foster a deeper understanding of their needs and excitement, building trust and loyalty every step of the way.”

Empowerment Through Strategic Campaigns and Ad

Empowerment played a crucial role in Del Monte’s overall digital strategy, driving consumer action through tools like TikTok Shop Ads, direct platform partnerships, and various campaigns that resulted in the highest daily GMV record last May 2024.

“Del Monte’s remarkable success is a testament to the synergy between a brand that understands its audience and a platform that empowers creativity. By harnessing TikTok Shop’s ACE Indicator System, they’ve transformed their offerings into experiences that resonate deeply with Filipino families. It’s a privilege to support their journey,” said Franco Aligaen, Marketing Lead, TikTok Shop.

A Formula for Success

Del Monte’s journey on TikTok Shop, enhanced by the ACE Indicator System, demonstrates the potential of pairing tailored product offerings with engaging content and consumer-driven campaigns. This strategic approach saw Del Monte rank No. 13 in the Food & Beverages category at launch, setting a new standard for success in the e-commerce space.

As Del Monte continues its commitment to enriching lives through its products and engaging experiences, the brand is poised for further growth alongside TikTok Shop.

 

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Trump meme coin takes a hit as Melania coin soars; Solana-based coins see new momentum

(This article is a paid content published on Spotlight, BusinessWorld’s sponsored section, and therefore does not reflect BusinessWorld’s views on the matter. BusinessWorld does not endorse any cryptocurrency and does not have any legal liability on any decisions derived from reading cryptocurrency-related advertisements published on its platforms. Readers are advised to thoroughly research and understand potential risks before availing cryptocurrency products or services.)

The Solana blockchain has been gaining attention with the launch of two political meme coins: TRUMP and MELANIA. Both coins have seen big price changes, with TRUMP rising quickly before falling sharply, while MELANIA has surged impressively.

TRUMP and MELANIA’s price swings shake up the market

TRUMP coin had a strong start, reaching $75.35 within days of its launch and pushing its market value to $15 billion. At one point, it even surpassed other popular meme coins in daily trading volume.

However, the launch of MELANIA caused TRUMP’s price to drop by over 50% in just two hours. Although there have been some signs of recovery, it has not yet returned to its peak value.

On the other hand, MELANIA coin saw an incredible increase of over 10,000%, reaching about $12.70. It now leads trading volume charts, even outperforming well-known coins like SHIB.

Both coins have captured the crypto community’s attention and are among the most searched tokens on CoinMarketCap.

Token distribution raises questions — a closer look at Trump and Melania

The rapid rise of these meme coins has raised some concerns.

TRUMP coin was launched shortly before a major political event and is controlled by companies linked to the Trump Organization. These companies hold 80% of the total supply, which will be gradually released over the next three years.

MELANIA coin, which claims to have a fair distribution, has also faced scrutiny. Blockchain analysts found that almost 89% of its supply was initially stored in one wallet before being split into four separate wallets.

Despite these concerns, both coins continue to attract interest and now have a combined total of nearly 1.3 million holders, according to blockchain data.

Trump’s impact on the crypto market

The rise of political meme coins like TRUMP and MELANIA is bringing more attention to Solana-based projects. One such project, Solaxy, is already seeing the benefits of this growing interest in Solana. While Solaxy isn’t directly linked to the political meme coin trend, the recent focus on Solana, as influenced by Trump coin, has put it in the spotlight.

As Solana’s ecosystem grows, projects like Solaxy and others could play a larger role in the decentralized finance (DeFi) space, tapping into the momentum generated by these meme coins.The success of political meme coins, particularly TRUMP, has injected fresh energy into the market, revealing how these coins have carved out their own unique niche within the broader crypto landscape. With strong community support and ongoing political discourse fueling their momentum, TRUMP coin’s future remains uncertain, but certainly worth keeping an eye on.

 

Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by publishing their stories on the BusinessWorld Web site. For more information, send an email to online@bworldonline.com.

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2024 factory output growth eases

Workers are seen inside a manufacturing facility in Sto. Tomas, Batangas in this file photo. — PHILIPPINE STAR/KJ ROSALES

The country’s industrial production growth eased annually in 2024 amid geopolitical tensions that dragged demand, the Philippine Statistics Authority (PSA) reported on Friday.

Preliminary data from the PSA’s latest Monthly Integrated Survey of Selected Industries showed that factory production, as measured by the volume of production index (VoPI), inched up by 0.9% on average last year, slowing down from the 4.9% growth in 2023.

This was the lowest year-on-year growth in four years or since the sharp 40.5% contraction during the coronavirus pandemic in 2020.

In December, VoPI inched up by 0.2% year on year, ending three straight months of decline.

It reversed the revised 3.9% drop in November. However, it was slower than the 3% recorded in December 2023.

On a seasonally adjusted month-on-month basis, industrial production rose by 4% in December, a turnaround from the 1.9% fall in November.

In comparison, the S&P Global’s Philippines Manufacturing Purchasing Managers’ Index (PMI) climbed to 54.3 in December from 53.8 in November. The country’s fastest since the 54.8 reading in November 2017.

A PMI reading below 50 marks a contraction in the manufacturing sector, while a print above 50 marks an expansion.

Sergio R. Ortiz-Luis, Jr., honorary chairman at the Philippine Chamber of Commerce and Industry, said in a phone interview that geopolitical tensions might have caused a decrease in production orders.

“There’s a lot of orders that were lost [last] year and that’s why I think geopolitics has affected this because we have lost a lot of trade. We lost a lot of visitors, a lot of investment from China,” Mr. Ortiz-Luis Jr., who also sits as the president of the Philippine Exporters Confederation, Inc., said.

He also added China moved to doing business with other Southeast Asian nations.

“While we’re increasing slowly, we’re being left behind by our neighbors who are getting the bulk of the orders and investment from China,” he said.

“I hope geopolitics can improve, I think they have to, and the tensions lessen. There is a decrease in our electronics [exports], which should have been strong, but is getting weak,” he added.

John Paolo R. Rivera, senior research fellow at the Philippine Institute for Development Studies, said in a Viber message that the easing in manufacturing output last year suggests “softer” industrial and export activity.

“This aligns with broader economic headwinds, including tighter financial conditions and weaker global demand. It could indicate hesitation among firms to expand capacity due to uncertainty in demand, high interest rates, or elevated operating costs,” Mr. Rivera said.

He added that export manufacturing struggled, which may reflect “weak” global demand from China and the US.

Meanwhile, Mr. Rivera said the slight uptick in December was due to several factors such as improvements in logistics and raw material availability, policy support for the manufacturing sector, potential decline in global oil prices and easing inflationary pressures.

However, he attributes the slower growth to weak external demand, higher borrowing costs, and weak private sector investments.

The PSA attributed the slight increase in December’s factory output growth rate to the manufacture of computer, electronic and optical products which was up 4.3% from a 5.8% decline in November, coke and refined petroleum products (4.4% from -11.6%), and transport equipment (6.1% from -0.2%).

Average capacity utilization rate in December reached 75.5% in December, slightly down from 75.7% in November.

Nineteen out of 22 industry divisions posted average capacity utilization rates of at least 70%.

“The manufacturing sector’s prospects for 2025 will hinge on monetary policy easing, recovery in global trade from major economies like US, China, and ASEAN… and increased infrastructure spending, industry incentives and investment-friendly policies,” Mr. Rivera said.

“If inflation stabilizes and energy costs remain manageable, production costs may ease, supporting growth,” he added.

The Bangko Sentral ng Pilipinas (BSP) kicked off its easing cycle in August last year, slashing key interest rates by a total of 75 basis points by the end of 2024.

The BSP expects inflation to settle at 3.3% this year, within the 2-4% target. — Kenneth H. Hernandez

DigiPlus honored for innovation, sustainability, and ethical leadership at World Business Outlook Awards

DigiPlus Interactive, the company behind leading digital entertainment brands BingoPlus, ArenaPlus, and GameZone, has been recognized for its achievements at the World Business Outlook Awards 2024.

These awards celebrate organizations worldwide that demonstrate exceptional leadership, innovation, and impact across various industries. DigiPlus was cited for “Excellence in Technological Advancement and Integration,” “Excellence in Corporate Social Responsibility and Sustainable Practices,” and “Best in Corporate Governance and Ethical Practices.”

Pioneering innovation with integrity

The award for Excellence in Technological Advancement and Integration highlights DigiPlus’ transformative efforts in delivering world-class entertainment experiences while preserving cultural heritage. By seamlessly integrating cutting-edge technologies, the company has brought iconic Filipino games into the digital age, the most recent one being Pinoy Drop Ball.

DigiPlus’ commitment to ethical leadership earned it the Best in Corporate Governance and Ethical Practices award, as it upholds the highest standards of transparency, accountability, and integrity — principles embedded deeply into the company’s governance frameworks and operations.

Making a lasting difference for communities

The Excellence in Corporate Social Responsibility (CSR) and Sustainable Practices award underscores DigiPlus’ dedication to creating lasting impact through the BingoPlus Foundation, which operated with a P100-million commitment for CSR in 2024. Key projects include giving scholarships and robotics kits for youth, providing healthcare support for underserved communities, and establishing PLUS centers for livelihood and healthcare. Beyond these, the foundation plays a pivotal role in disaster recovery, clean water access, and infrastructure development across the country.

In addition to community programs, DigiPlus also launched groundbreaking efforts in responsible gaming. By championing player protection and education, the company promotes safe and healthy gaming habits and has implemented advanced tools and proactive safeguards to ensure a safe environment for players.

Committed to progress and impact

“These awards serve as inspiration for us to keep raising the bar,” said DigiPlus Chairman Eusebio Tanco. “At DigiPlus, we believe that innovation goes hand-in-hand with responsibility. We are driven to create platforms and experiences that not only entertain but also uplift communities and reinforce trust among our stakeholders.”

DigiPlus’ recognition at the World Business Outlook Awards reflects the company’s steadfast commitment to innovation and responsibility. By delivering transformative entertainment experiences while creating value for communities, DigiPlus is committed to helping shape a more sustainable future for digital entertainment in the country.

 

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FILIPINXT makes its official third bow at NYFW Fall/Winter 2025 calendar

FILIPINXT expands Filipino fashion’s global footprint at NYFW

FILIPINXT, a Philippine-based platform dedicated to championing the creativity and craftsmanship of Filipino designers, is making headlines as it secures a spot on the official calendar of New York Fashion Week Fall/Winter 2025.

For Rob Mallari-D’Auria, co-founder of FILIPINXT and a multifaceted Filipino designer, lawyer, and entrepreneur, this milestone is more than just a personal achievement; it is a historic moment for the entire Filipino fashion industry.

He emphasizes that FILIPINXT’s inclusion in NYFW is not merely about showcasing individual talent but about honoring the depth, artistry, and global significance of Filipino craftsmanship.

“FILIPINXT is more than a fashion platform—it is a movement showcasing the pride, passion, and innovation of the Filipino people,” said Mallari-D’Auria.

Aligning with this vision, Richard Estrella, Marketing and Operations Director of FILIPINXT, highlighted the impact of this recognition. “Being part of New York Fashion Week represents an unparalleled opportunity for Filipino designers to showcase their world-class talent,” he said.

With its third appearance at one of the world’s most iconic fashion events, FILIPINXT continues to champion Filipino talent on the world-renowned platform. Building on the success of its Maiden Show in May 2024 and Spring/Summer 2025 Show in September 2024, the platform remains dedicated to showcasing the depth of Filipino creativity.

On the third day of NYFW, Feb. 8, 2025, at 3:00 PM, FILIPINXT will take the spotlight at 4W43, and this remarkable presentation will feature stunning collections from five distinguished Filipino designers and creatives. Each designer will bring their unique vision, heritage, and craftsmanship to the runway.

Bessie Besana, Co-Founder of FILIPINXT and a renowned Filipino fashion designer, is celebrated for her formal wear that blends contemporary aesthetics with a deep understanding of the human body’s natural beauty.

Jasmine Baac, the founder of Bagoyan, will present contemporary designs that are deeply rooted in Filipino heritage, showcasing a harmonious balance between tradition and modernity.

Leo Bartolome, Creative Director of Edited Limited, is known for his innovative approach to fashion that creates contemporary pieces using deadstock, old garments, and refurbished fabrics. His work is a representation of Filipino craftsmanship, with influences from Japanese and other Asian styles.

Adante Leyesa, a multi-awarded Filipino designer, specializes in handcrafted statement accessories and bags. His work is known for its intricate designs, unique details, and partnerships with local artisans to revive traditional Filipino techniques like beading, embroidery, and tapestry.

Gabby Garcia, the founder of Tagpi, offers designs that celebrate Filipino craftsmanship and heritage. What began as a passion project during the pandemic has blossomed into a social enterprise that combines applique with traditional Filipino weaves that create wearable stories that honor Filipino artisans and their craft.

Together, these designers will showcase the vibrant talent and cultural heritage of the Philippines to offer a powerful representation of Filipino creativity on the global fashion stage.

“This show is a dream realized not just for us at FILIPINXT but for every Filipino designer and creative who dares to break boundaries,” shared Bessie Besana, COO and Co-Founder of FILIPINXT. “We are honored to share our culture, heritage, and artistry on one of the world’s most prestigious fashion stages.”

Alongside the runway show, FILIPINXT’s participation in NYFW extends to a curated trunk show hosted by Hwangs Inc., where guests will have the opportunity to purchase exclusive designs and accessories from participating designers and partners. This addition underscores FILIPINXT’s dedication to creating platforms that empower Filipino creatives, allowing them to expand their influence and market presence.

This groundbreaking event is made possible through the collaboration of the Philippine Consulate General in New York City and Kalye NYC, with the generous support of sponsors such as New York Makeup Academy, Hwangs Inc., Angkla Beach Resort, Travel Warehouse Inc., Riman, Paperless PR Creative Agency, Dominic Senador Photography, La Belle Fête, and DJ Filipino Events. Tickets for the show are now available for purchase.

 

Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by publishing their stories on the BusinessWorld Web site. For more information, send an email to online@bworldonline.com.

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Combatting malnutrition in the Philippines

Growth Watch is one of Abbott’s ongoing initiatives that help identify and combat childhood malnutrition in the Philippines.

Interview by Patricia Mirasol
Video editing by Jayson Mariñas

Philippines’ Vice President Duterte prepared for impeachment, father welcome to join defense team

VICE-PRESIDENT SARA DUTERTE-CARPIO FACEBOOK PAGE

MANILA – Philippine Vice President Sara Duterte said on Friday she had been preparing since last year for impeachment and would welcome on her defence team her firebrand father, former President Rodrigo Duterte, if interested to join.

Sara Duterte said she had not read the complaint against her endorsed by majority of lower house members but her lawyers were gearing up for a trial in the Senate. The Senate’s president has said that could take place in June.

Asked during a press conference if her resignation was an option, she said: “We’re not there yet. Those things are still too far off.”

Ms. Duterte’s remarks were her first since the lower house impeached her on Wednesday, charging her with culpable violation of the constitution, graft and corruption, other high crimes and betrayal of public trust. She has denied wrongdoing.

It stemmed from allegations she misused public funds while vice president and education minister, amassed unexplained wealth, and threatened the lives of President Ferdinand Marcos Jr, the first lady and the lower house speaker.

On Friday she again reiterated she had made no assassination threat.

Ms. Duterte said her 79-year-old father was welcome to join her defense team “if he wants to”, adding he may not lead the team given his age. Mr. Duterte is a former city mayor and prosecutor who was Philippine president from 2016-2022.

The vice president has been embroiled in a long-running row with former ally Marcos and has previously dismissed moves against her as politically motivated.

For her to be convicted and removed from her post, the support of two-thirds of senators at the trial is required. Ms. Duterte has some key allies in the Senate, as does Mr. Marcos.

Ms. Duterte said she could not say if she would secure enough votes for an acquittal.

“The only thing I can say a this point is God save the Philippines,” Ms. Duterte said before taking questions from journalists. — Reuters

Philippine rice buyers delay 350,000 tons of Vietnamese cargoes-sources

PHILSTAR FILE PHOTO

SINGAPORE – Rice importers in the Philippines have delayed purchases of around 350,000 metric tons of Vietnamese rice and are in the process of renegotiating deals, after a steep decline in prices, two trade sources with direct knowledge of the deals said.

“There has been a big drop in Vietnamese rice prices in the last few weeks,” said one Singapore-based senior executive at an international grain trading company. “Now buyers are not willing to take the expensive rice.”

Rice importers had signed deals at around $620 per metric ton, free on board, for Vietnamese fragrant rice late last year but now the price has dropped to around $500 per ton, the two trade sources said.

“This is happening just before the new harvest starts in Vietnam,” said the second trading source at an international rice trading firm in Bangkok. “It is big jolt to Vietnamese exporters as some of these deals could turn into defaults.”

Earlier this week, the Philippines, among the world’s largest rice importers, declared a food security emergency to bring down the cost of rice, which it said has stayed elevated despite lower global prices and a reduction in rice tariffs last year.

Global rice prices have dropped since India eased restrictions on rice exports in September and October. Indian prices this week hit their lowest since June 2023 while Vietnamese prices have slid to the weakest since September 2022.

The rice market had rallied in 2023 after India, by far the world’s biggest exporter, curbed overseas sales following poor monsoon rains.

But rice inventories in India surged to a record high at the start of December, reaching more than five times the government’s target and potentially boosting exports. — Reuters

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