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BJM hands over THACO sleeper buses to Cagsawa Travel and Tours

At the key turnover ceremony are (from left) BJ Mercantile (BJM) Sales Representative Marvy Sales, BJM Sales Manager Don Ramos, BJM Vice-President Leilani Lim Tan, Cagsawa Travel and Tours Director and Operations Manager William Rogando, Cagsawa Travel and Tours General Manager Willy Ngo, and Cagsawa Travel and Tours Corporate Secretary Marcelo S. Tan. — PHOTO FROM BJ MERCANTILE, INC.

BJ MERCANTILE, INC. (BJM), the official distributor of THACO commercial vehicles in the Philippines, has officially turned over the country’s first two THACO sleeper buses to Cagsawa Travel and Tours, Inc., to set “a new standard for stylish, comfortable, and convenient travel between Manila and the Bicol region.” The THACO Mobihome is said to be a new generation of luxury sleeper buses, designed, manufactured and assembled by THACO Auto.

“We are proud to partner with Cagsawa Travel and Tours in introducing sleeper bus technology that prioritizes passenger comfort while meeting the operational needs of bus operators,” said BJM Vice-President Leilani Lim Tan. The standout feature of the bus is the front grille with beveled patterns inspired by the signature “T” shape, paired with modern LED Project headlights for a “seamless” front-to-rear identity.

Cagsawa Travel and Tours had a lot of design inputs, especially on the interiors, to ensure a comfortable and convenient passenger experience. The 20 sleeper cabins of the bus features premium materials with meticulous attention to detail, ensuring maximum comfort and privacy for passengers. It is equipped with amenities including an LCD entertainment screen, bedroom light, Type A and C phone charging ports, and a well-appointed rest room. Notably, the UV ceiling lights combined with ambient lighting help to promote a “luxurious atmosphere.”

For Cagsawa Travel and Tours, the acquisition reinforces its vision to become a model and leader in the transport industry through operational excellence for quality service and passenger’s total satisfaction. “We should have the best and always strive to be the first in order to be the role model in the industry,” said Cagsawa Travel and Tours Director and Operations Manager William Rogando. “We were very impressed when we visited the very modern and expansive THACO manufacturing facility in Vietnam. I am sure when people start to see these buses on the road, other bus operators will follow suit.”

BJ Mercantile, Inc., through its partnership with THACO Auto, continues to expand its commercial vehicle offerings in the Philippines, providing modern buses and trucks backed by comprehensive after-sales support, parts availability, and technical expertise. “From its modest beginnings in 1974 as an importer of used engines and trucks, BJM has grown into a dynamic group with interests spanning construction, mining, logistics, real estate, petroleum, cold storage, and marine transport,” the company said in a release.

For more information about THACO buses, visit the BJM showroom located at 1132 EDSA Balintawak, Quezon City. To book tickets on the Cagasawa Travel and Tours’ THACO sleeper buses, visit www.cagsawatours.ph.

Peso may trade sideways before key PHL, US data

BW FILE PHOTO

THE PESO is expected to trade sideways against the dollar this week as players await the release of key economic reports, including Philippine inflation and US labor data.

On Friday, the local unit closed at P58.841 per dollar, declining by 5.1 centavos from its P58.79 finish on Dec. 29, data from the Bankers Association of the Philippines showed.

Week on week, the peso fell by 13.1 centavos from its P58.71 close on Dec. 26.

Philippine financial markets were closed on Dec. 30, Dec. 31, and Jan. 1 for Rizal Day and the New Year holidays.

On Friday, the local unit opened at P58.85 per dollar, weaker than its Dec. 29 close. Its intraday best was at P58.80, while its worst showing was at P58.90 versus the greenback.

The peso was range-bound on Friday amid a lack of leads, a trader said in a text message.

The local unit weakened as the government is now operating under a reenacted budget as the Palace continues to review the 2026 national spending plan, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

Executive Secretary Ralph G. Recto said President Ferdinand R. Marcos, Jr. and his team are reviewing the 2026 National Budget. Mr. Marcos is expected to sign the spending plan on Jan. 5.

The local unit was also dragged by a generally stronger dollar on Friday amid dovish US Federal Reserve expectations on concerns over its independence as Chair Jerome H. Powell is set to end his term by midyear, Mr. Ricafort added.

The US dollar kicked off 2026 on a stronger note on Friday after struggling against most currencies last year, as traders awaited a flurry of US economic data, including several reports on the labor market, to gauge the path of interest rates, Reuters reported.

Economic data due this week include a host of reports on the labor market, culminating in the government payrolls report on Friday, which should provide insight as to where the Fed’s policy rate might move.

The dollar index, which measures the greenback against a basket of currencies, rose 0.12% to 98.37, with the euro down 0.11% at $1.1732.

Investors will also be eyeing who US President Donald J. Trump chooses to be the next Fed chair as the term of Mr. Powell ends in May.

Mr. Trump flagged that he would make his Fed chair pick this month, and many market participants expect Mr. Trump’s pick to be a proponent of more rate cuts, as the president has repeatedly criticized Mr. Powell and the Fed for not reducing borrowing costs at a faster pace and a larger magnitude.

Traders are fully pricing in two cuts this year compared to one projected by a currently divided Fed board.

For this week, the trader said the peso could continue to trade sideways against the dollar if the data releases due out this week are broadly within expectations.

In its month-ahead forecast, the Bangko Sentral ng Pilipinas (BSP) said headline inflation was likely within the 1.2%-2% range in December, slowing from the 2.9% clip seen a year ago.

At 2% or the upper end of the forecast, inflation may have picked up from 1.5% in November and would be the fastest clip in 10 months or since the 2.1% clip in February. It would likewise mark the first time in 10 months that inflation returned within the BSP’s 2%-4% target.

At the bottom end of the forecast, inflation likely eased to its slowest pace in five months or since the 0.9% in July.

The Philippine Statistics Authority is set to release the December inflation data on Jan. 6 (Tuesday).

Meanwhile, Mr. Ricafort sees the peso ranging from P58.65 to P59.05 per dollar this week. — A.M.C. Sy with Reuters

SM Investments shares climb amid buyback

BW FILE PHOTO

SM INVESTMENTS CORP. was among the most actively traded stocks last week as its share buyback program helped lift trading activity and market capitalization despite a shortened trading period.

Data from the Philippine Stock Exchange (PSE) showed 601,460 shares worth P423.72 million changed hands from Dec. 29 to Jan. 2. Trading was limited to two days as markets were closed for the New Year holiday.

SM Investments ended the week at P719.50 per share, up 2.8% from the previous week. The stock lagged the holding firm index, which rose 3.4%, but outperformed the benchmark PSE index ( PSEi), which slipped 1.1%.

Year to date, SM Investments has gained 2.9%, exceeding the holding index’s 2.3% increase and the PSEi’s 1.4% rise.

“Last week, the market had thin volume due to the shortened trading week brought about by the holiday season,” Jash Matthew M. Baylon, an analyst at First Resources Management and Securities, said in a Viber message. “Despite that, SM Investments became active as the company continued its buyback program, which added to the stock’s trading volume.”

He added that SM Investments remains one of the biggest companies by market capitalization on the local bourse, making it a key stock for investors adjusting portfolios toward the end of the year. He said such rebalancing activity could have contributed to price movements and volatility.

On Dec. 29, SM Investments executed buyback transactions with a settlement date of Jan. 5, 2026. The company’s board had approved a share buyback program involving as much as P60 billion worth of common shares, which it said is in the best interest of the company.

As of Jan. 2, SM Investments’ market capitalization stood at P855 billion, according to PSE data.

Beyond the buyback, investor attention has also been drawn to the group’s property developments.

SM Investments and SM Prime Holdings, Inc., its listed property arm, are set to oversee the development of the 284-hectare Susana Heights estate in Muntinlupa City. The project will anchor SM Prime’s entry into the premium residential segment under its Signature Series brand.

“The recent news regarding the planned development on 284-hectare Susana Heights estate in Muntinlupa is expected to generate robust revenue for the conglomerate, as the project caters to rising demand for ultra-luxury residences,” Mr. Baylon said.

He added that the site’s strategic location could attract further investor interest and support higher land valuations over time.

Susana Heights is valued at about P25 billion and will feature residential lots starting at 750 square meters, with prices at P15 million to more than P65 million. Entry-level lots alone are projected to generate about P100 million in sales, according to a company statement.

For the third quarter of 2025, SM Investments reported an attributable net income of P21.83 billion, up 5.5% from a year earlier. Consolidated revenue rose 1.3% to P163.08 billion.

For the first nine months, attributable net income increased 5.8% to P64.39 billion, while revenue grew 4.3% to P482.28 billion.

Mr. Baylon placed technical support at P700 per share and resistance at P740 to P750. — Lourdes O. Pilar

Fendi releases new bags this month

PEEKABOO BAG

FENDI presents the Fendi Way bag, unveiled on the Fendi Spring/Summer 2026 catwalk. This hobo embodies a softer, more effortless take on luxury, with generous capacity in a trapezoidal shape. The fully adjustable handle allows the user to naturally wear the bag over the shoulder, resulting in the perfect go-to hobo bag. A subtle hook on the side of the handle invites to personalization with charms and accessories. Created in two sizes, large and medium, it is offered in a multitude of material and color combinations. Bicolor variants in timeless leather hues are paired with suede interiors in vibrant tones, from brown with lilac to dove with electric blue. Statement monocolor versions in vivid pink and turquoise blue are, the other way around, in suede with leather-lined interiors. Meanwhile, the house is playing with its now-classic 2008 Peekaboo bag. For Spring/Summer 2026, the bag’s subtle exteriors open to unveil a rich array of paillettes, beads, studs and crystals. The intricate embellishments are entirely handcrafted. Paillettes appear in striking variations, meticulously crafted with more than 40 hours of manual work, from shimmering purple ones inside a mahogany brown Peekaboo bag, to asymmetrical turquoise and elongated green paillettes. Flower studs reinterpret a multicolored three-dimensional mosaic adorning the interior of a yellow Peekaboo bag, while a crystal flower motif creates an unexpected jewel effect within a mahogany brown Peekaboo bag. A Peekaboo in pink mink is enriched with rich hand-beaded multicolor embroidery, recreating an abstract floral motif that requires over 200 hours of work. The new Peekaboo is available for pre-order in Fendi boutiques worldwide and at fendi.com from Jan. 8, and in-store from Feb. 5. The Way is available for pre-order at fendi.com from Jan. 22, and in Fendi boutiques worldwide from Feb. 5.

Mexico reports second screwworm case in two days

REUTERS

MEXICAN authorities reported a case of the New World screwworm parasite late on Thursday, the second case reported in two days as Mexico works to contain an outbreak that has kept the US-Mexico border closed to Mexican livestock.

The parasite was detected and treated in a goat in the State of Mexico, which borders capital Mexico City, the ministry said, adding that the 20 other animals at the site tested negative and were given preventive treatment.

On Dec. 31, the ministry reported a case in a six-day-old calf in the northern state of Tamaulipas, also the only positive case on site.

Mexico has so far reported a total of 13,106 cases since November of 2024, according to government data through Dec. 31, 2025. Of those cases, 671 were active currently.

The southern border state of Chiapas has the most confirmed cases, followed by Oaxaca, Veracruz, and Yucatan.

Screwworms are parasitic flies whose females lay eggs in wounds.

Their larvae burrow through the flesh of animals, eventually killing their host if left untreated.

Mexico has been working to contain an outbreak of the screwworm, which has spread northward from Central America, rattling the livestock and beef industries of both the US and Mexico.

Because of the outbreak, the US has kept its southern border largely closed to Mexican livestock since May.

Although US officials say the pest has not yet breached the US border, it threatens $1.8 billion in damage to the Texas economy, according to a US Department of Agriculture estimate. — Reuters

Cultural shifts, 2026

STOCK PHOTO | Image from Freepik

The year 2026 starts with the Ukrainians gravely looking at possible defeat. They have not entertained this thought at any time since the days immediately after the Russian invasion in 2022 — when their then newly elected President Volodymir Zelensky choose to stay in Kyiv instead of taking flight — through to fairly recently.

Too, Europe is looking at Ukraine’s precariousness, in large measure because of the unreliable United States’ support, as their own vulnerability to Russian territorial aggression.

Preparing for what can come next, with a military official citing “increased peril,” France is upping mobilization of its volunteer military corps. Stopping short of compulsory service, France is nevertheless targeting an increase from today’s 45,000 reservists to 105,000 by 2035.

Expecting Russia’s Vladimir Putin to turn territorial aggression towards Europe, Germany is rearming. “Racing to re-arm,” says a television analyst in Europe. Germany is distancing from the antiwar stance it assiduously cultivated since after the second world war.

Japan, on the other side of the globe, is suddenly the world’s third largest military spender. This should be shocking to those who know of Japan’s Constitutional renunciation of war “as the sovereign right of nations” since 1945. But Japan’s officialdom had shed its post WW2 pacifism. Apparently, the Japanese citizenry (up to 48+%) agrees.

Meanwhile, Canada’s defense establishment “scrambles to figure out how to mobilize and equip” an envisioned supplementary reserve of some 300,000 citizens — even if it isn’t expecting invasion. And in South Asia, nuclear-armed India has cleared $8.8 billion for defense spending in 2026; nuclear-armed Pakistan, an increase of 20%, a similar magnitude as India’s, for updated armaments.

None of this would have been possible if not driven by enormous cultural shift.

COLD WAR 1
A world divided into two since the end of WW2 produced at least three generations of humans living entirely in their “half” of the world. People thought themselves denizens and champions of the “West” or the “East.”

The world order constructed after WW2 by the US, with the United Nations and the North Atlantic Treaty Organization —that prevailed for 70-some years over the territories of winning Allied and the losing powers — was culturally solidified by the shorthand “the West.”

In hindsight, it got weirder. “The West” included Japan, South Korea, Australia, the Philippines, and half of ASEAN. But, yes, this word “West” remains the nickname for a world built as free societies producing wealth from free-market capitalism.

In due course, freedom was found elusive in a capitalism unfree from overwhelming greed. Or untethered to restraint and social justice.

Western solidarity needed its opposite number. In the postwar bipolar world, the “East” was Russia, China, Eastern Europe, North Korea, and Cuba. In specific periods, Nicaragua, Chile, Argentina, Brazil, and Peru were, oddly enough if reckoned spatially, in the East.

It was a bizarre directionality, but this “East” stayed as a synonym for unfree peoples in whose collective name power was wielded by dramatic strongmen to maintain centralized economies.

In due course, people power was elusive under the fetters straightjacketing centralized economies.

Taking stock in the end — the Cold War evaporated in the last decade of the 20th Century with the demise of the Soviet Union — neither half of the twosome had a monopoly of dictators, poverty-producing forces, and breathtaking corruption.

Culturally, belonging to either East or West pivots on the power of imagination, albeit one which was cultivated by grand scale, ideologically driven social engineers.

Ideology can make a kind of life and way of thinking normal. But only culture makes a kind of life and way of thinking natural.

The Cold War naturalized the politico-economic projects of capitalism (making the word overlap with all variables of democracy and liberalism) and communism (making the word overlap with all variables of socialism and repression).

The world was never so simple, of course. (For example, where did the ancient European ideas of a “Middle East” or a “South Asia” really fit?) And it’s a big argument to make, so it is not for now — but there’s a way of summarizing the sustaining culture for this mega polarization.

This double, oppositional world was fed by a globally shared fear of another world war.

The imagined certainty of another global conflagration with unimaginable human costs made a Cold War vastly endurable (hence preferable) to a hot war. Even if low intensity conflicts with global coordinates kept going through the rest of the 20th Century.

COLD WAR 2
At the cusp of 2026, the political center Right of previous decades in different countries have swung to the Right. Some, to the far Right. What cultural shifts are making this happen?

Electorates in the US, Austria, Italy, Portugal, the Netherlands, Spain, France, Hungary, Turkey, Sweden, Finland, Estonia, Poland, Slovenia, Greece, Argentina, Chile, El Salvador, Ecuador, Bolivia, Honduras, India, Japan, and Israel, have either allowed substantially greater power for, or outright elected Rightwing parties to, national leadership.

The ideological drivers are self-evident and seem formidable. The Rightward momentum emerged wholly charged from the interim 20-year period between 2000 to the 2020s, when a supposed unipolar world emerged and then imploded.

That single-superpower world is now blamed for runaway globalization; wars and climate issues that set off mass migration; peripheralization of previously dominant ethnicities (notably, white-Christian nationalists); economic downturns; and globally networked criminality. Populisms feed on simplifications of these problems.

Which means that peace-building strategies — simultaneous nuclear disarmament, unified markets, multilateral institutions, international law, and, at the start, the seemingly democratizing capacity of digital networks — now seem too soft on border policing and economic protectionism.

To peoples threatened hugely by an incomprehensively interconnected world, the go-to political and economic idea is exclusion. Cold War 2 seems similar to Cold War 1 in a Left/Right division of the world, but with a resurrection of racist-structured social hierarchy, this time writ very large, indeed; and a Biblical view of Judeo-Christian peoples against barbarians.

In this Cold War 2, Putin’s Russia belongs to the Judeo-Christian world together with the US, while Europe could very well be deemed barbaric if the Rightist leaders, in their own view, are not allowed full ascendancy.

That this is now a fully emerged global state of imagination brings to the surface the underlying culture: xenophobia. Another fear-based culture therefore: a distressed and even phobic view of the many ways of being human. Unfortunately, this overlarge identity politics is soldered to logics for increased militarization.

And increased militarization is in turn welded to an emergent idea of “spheres of influence” that idealizes a world under three superpowers: the US as overlord of the Americas, Russia as overlord of Europe, and China as overlord of Asia.

The fate of Ukraine (which will also be the fate of Taiwan, and the fate of Venezuela and Cuba) is being read at the cusp of radical rearrangement of the world.

 

Marian Pastor Roces is an independent curator and critic of institutions. Her body of work addresses the intersection of culture and politics.

Isuzu PHL unveils renovated Zamboanga dealership

The Isuzu Outlet Standard-compliant Isuzu Zamboanga spans 3,396 sq.m. and features a revamped 197-sq.m. showroom and an updated façade. — PHOTO FROM ISUZU PHILIPPINES CORP.

ISUZU PHILIPPINES CORP. (IPC) and IZU South Motors Corp. officially reopened the Isuzu Zamboanga dealership, now up to full Isuzu Outlet Standard (IOS) design compliance. “The launch marks another milestone in Isuzu’s “Road to 50” initiative, which aims to expand and modernize the company’s nationwide dealer network in line with the evolving demands of rapidly developing regions,” said IPC in a release.

Leading the inauguration were IPC Department Head for Dealer Sales Mario Ojales, IZU South Motors Corp. General Manager Patrick Lee, and Zamboanga City Mayor Khymer Olaso — “affirming the brand’s strengthened commitment to supporting local industries, small and medium enterprises (SMEs), and government organizations that rely on durable and efficient transport solutions.”

Said Mr. Ojales, “As the region continues to thrive, Isuzu Philippines and IZU South Motors remain steadfast in supporting Zamboanga’s growth and progress. Together, we look forward to many more years as (a) responsible partner, providing dependable light commercial vehicles and trucks to the region.”

IPC said that the renovated Isuzu Zamboanga is designed to enhance both customer experience and after-sales support. The 3,396-sq.m. facility features a revamped 197-sq.m. showroom with a sleek, updated and IOS-compliant façade. The showroom can display three light commercial vehicles (LCVs) and one commercial vehicle (CV).

To further elevate the buying and ownership experience, the dealership now includes a spacious customer and sales lounge that “offers a comfortable, professional environment for consultations on vehicle selection, financing, and services.” An upgraded 1,200-sq.m. service area is bright, well-ventilated, and optimized for operational efficiency. There are seven service bays for LCVs and two dedicated truck bays.

“Since our founding, we have remained dedicated to providing vehicles that keep our customers’ businesses and communities moving,” said IZU South Motors Corp. General Manager Patrick Lee. “This new IOS dealership reflects our ongoing drive to improve and deliver better service — always putting our customers first.”

“The ongoing rollout of IOS-compliant dealerships underscores Isuzu’s dedication to delivering first-class customer service supported by modern, efficient facilities. These upgrades ensure that customers across the country benefit from a consistently elevated experience — from browsing vehicles to after-sales care — reflecting the trusted quality of the Isuzu brand,” said IPC.

BSP bills’ rates climb as tenders go down

The main office of the Bangko Sentral ng Pilipinas in Manila. — BW FILE PHOTO

YIELDS on the Bangko Sentral ng Pilipinas’ (BSP) one-month securities went up on Friday as the offer went undersubscribed after the auction volume was upsized.

The 28-day BSP bills attracted just P68.714 billion in bids, well below the P100 billion placed on the auction block and the P86.74 billion in tenders for the P80-billion offer a week prior.

This translated to a bid-to-cover ratio of 0.6871 times, lower than the 1.0843 ratio seen in the previous auction.

The central bank awarded all the submitted bids.

Accepted rates ranged from 4.65% to 5.05%, a tad wider than the 4.65% to 5% band recorded the previous week. With this, the average rate of the one-month securities rose by 6.74 basis points to 4.8516% from 4.7842%.

The BSP has not auctioned off the 56-day bills for more than two months or since Nov. 3.

The central bank uses the BSP securities and its term deposit facility to mop up excess liquidity in the financial system and to better guide short-term market yields towards its policy rate.

The BSP bills also contribute to improved price discovery for debt instruments while supporting monetary policy transmission.

In August 2025, BSP Governor Eli M. Remolona, Jr. said they are gradually shifting away from the issuance of short-term papers to manage liquidity as they want to boost activity in the money market.

The central bank started auctioning off short-term securities weekly in 2020, initially offering only a 28-day tenor and adding the 56-day bill in 2023.

Data from the central bank showed that around 50% of its market operations are done through its short-term securities. — Katherine K. Chan

Suntrust appoints independent directors amid Parañaque casino delays

STOCK PHOTO | Image by Aidan Howe from Unsplash

LISTED integrated resort developer Suntrust Resort Holdings, Inc. has appointed independent directors and key officers as its Parañaque casino project continues to face delays.

In a disclosure dated Jan. 2, Suntrust said its board appointed Christine P. Base and Rus Kristoffer B. Parcia as independent directors. They replaced Jesus B. Varela and Eugenio B. Reducindo, who stepped down effective Dec. 29 for personal reasons.

“They shall serve in such capacity during the remainder of Mr. Varela’s and Mr. Reducindo’s respective terms as director and until their successor is elected and qualifies for the position,” Suntrust said.

The board also named Monina Jane S. Nazal as corporate secretary and chief information officer, replacing Nelileen S. Baxa. Ms. Nazal will serve for the remainder of Ms. Baxa’s term until a successor is elected and qualified, the company said.

Suntrust also accepted the resignation of Neoli Mae L. Kho as treasurer and Maria Carla T. Uykim as assistant corporate secretary and assistant corporate information officer, both effective Dec. 29, citing personal reasons.

On Dec. 26, Suntrust announced the appointment of Yip Ho Chi and Lam Hung Tuan as directors, further reshaping its board and management lineup.

The leadership changes come as the company’s Westside Integrated Resort Project in Parañaque City faces setbacks in its development timeline.

The project is being undertaken with Travellers International Hotel Group, a sister company of listed developer Megaworld Corp., which holds majority control of the development. Suntrust owns a 20% stake in the project and has cited financial challenges related to its participation.

The Westside Integrated Resort Project is expected to include a five-star hotel, casino, shopping mall and theater complex. The development is scheduled to open by the third quarter after changes to its timeline.

Suntrust has not provided additional details on the causes of the delays, but previous disclosures have pointed to funding constraints and coordination issues among project stakeholders.

Market participants are closely watching developments at the company, as the Westside project represents a major investment tied to the gaming and tourism sectors. Changes in board composition and senior management are often viewed as part of efforts to strengthen governance and oversight amid operational challenges.

Shares of Suntrust last closed at 76 centavos each on Dec. 29, based on data from the Philippine Stock Exchange. — Beatriz Marie D. Cruz

It’s not too late for a Chanel makeup holiday

WHILE the festive season is finally past us, that does not mean that the Holiday 2025 makeup collection from the Chanel Makeup Creation Studio and Cécile Paravina, a member of the Cometes Collective, is already passé. In the collection, Chanel’s five talismans, iconic symbols of the Chanel galaxy, orbit within the unique universe created by Ms. Paravina. The lion, the comet, the camellia, stalks of wheat, and pearls all appear in shimmering shades. Les Signes de Chanel, duos of blush and highlighter powders, cloak the complexion in soft reflections with a satiny finish. Rose Lumière is a soft blueish pink paired with a white pearly pink highlighter, while Pêche Lumière reveals orangewood hues enhanced by a white pearly gold highlighter. Exclusive creations, these palettes are embossed with the five signs of the House (the founder’s lucky number), which can be seen as a constellation. Meanwhile, the Les 4 Ombres palette has been reimagined as an exclusive creation, Les 4 Ombres Nuit Astrale, shades embellished with Chanel’s five astral symbols. These are a matte medium blueish grey, a deep shimmery purple silver, and a satiny lavender are elevated by the radiance of a shimmery aqua blue highlighter. Next, two new shades of Le Liner De Chanel, Flamboyant and Écarlate, invite one to trace metallized orange or red curves along the lash line. The exploration of cosmic colors continues with Noir Allure, a dark blueish grey mascara. In lipsticks, Rouge Allure Velvet is reimagined as a limited edition. With its ultra-comfortable, second-skin texture, the luminous matte lipstick is housed in a case emblazoned with a double C. It features two signature shades: Abstrait, an intense rosewood, and Rouge Vie, a redwood. For lips with a pearlescent look, Rouge Allure Laque debuts two exclusive new shades: Incandescent, a pearly pink-blue magenta red with volcanic undertones, and Nébuleuse, a pearly crimson purple. For nails, new colors include Cosmique, a slate blue lacquer, and Alchimiste, a metallized orange.

US $12-B farm aid package to favor rice, cotton; soy farmers warn of strain

REUTERS

CHICAGO — The US Department of Agriculture (USDA) released details about how much row crop farmers will receive next year from a $12-billion aid program, but soybean growers say such payments fall short of helping those hurt by low crop prices and trade disputes.

The Farmer Bridge Assistance program is expected to distribute $11 billion in one-time payments to farmers, who will be paid on a per-acre rate if they planted one of the 19 commodity crops identified as being eligible for the program, USDA said in a statement.

US farmers produced massive corn and soybean harvests this fall amid a global glut of grain, and lost billions of dollars amid falling crop prices. Soybean farmers were particularly hard hit by the loss of soybean sales to China, by far the world’s top buyer, when it turned to South American suppliers during stalled trade talks.

While the aid is expected to help farmers prepare for the next planting season, growers and agricultural economists say the payments are a fraction of farm losses and will not rescue the sagging US farm economy.

The highest per-acre payments will be paid to rice farmers, who could receive $132.89 an acre; cotton farmers, at $117.35 an acre; and oat farmers, at $81.75 an acre. Meanwhile, farmers are eligible for a payment of $44.36 per corn acre, $30.88 per soybean acre, and $39.35 per wheat acre. The payments are calculated using 2025 planted acres, cost-of-production data, and market conditions, USDA said.

“Due to significant trade losses this year, the payment rate for soybeans will likely not be enough for soybean farmers to keep their operations financially solvent as we move into the next planting season,” said Scott Metzger, an Ohio farmer and president of the American Soybean Association, a trade group that represents nearly a half-million soybean producers.

Sorghum growers are set to receive more than soybean growers at $48.11 per acre, and see the payments as a welcome help even as export demand has improved recently, said Tim Lust, chief executive officer of the National Sorghum Producers.

Other crops that qualify include peanuts, sorghum, barley, canola, sunflower, lentils, peas, mustard, safflower, flax, large and small chickpeas, and sesame. The payments are expected to be received by Feb. 28, Agriculture Secretary Brooke Rollins said in a statement.

President Donald Trump initially unveiled the $12-billion aid package for American farmers on Dec. 8, as farm groups and Republican farm-state lawmakers have sought the aid in part to support farmers with purchases of seed, fertilizer and other expenses.

The remaining $1 billion of the $12-billion aid package is being reserved for specialty crop and sugar farmers, USDA said, but how that money will be distributed, and the timing of such payments, is still being determined. — Reuters

Innovative approaches needed for vision care

STOCK PHOTO | Image by Pikisuperstar from Freepik

Vision impairment occurs when an eye condition affects the visual system and compromises sight. While many people assume that losing vision is simply part of growing old, the reality is far more hopeful. If detected early, most causes of vision impairment are preventable, treatable, or manageable. Yet across the world, and in the Philippines, millions still lose their sight unnecessarily.

According to the World Health Organization (WHO), everyone will experience at least one eye condition in their lifetime that requires appropriate care. Globally, the leading causes of vision impairment and blindness include uncorrected refractive errors, cataract, diabetic retinopathy, glaucoma, and age-related macular degeneration (AMD), conditions for which effective interventions already exist.

In the Philippines, the scale of the challenge is clear. The Philippine Eye Disease Study conducted by the Philippine Eye Research Institute found that cataract remains the leading cause of vision impairment, affecting around 1.1 million Filipinos, with roughly 330,000 requiring cataract surgery. Nearly 400,000 Filipinos have uncorrected refractive errors, more than 280,000 live with glaucoma, and close to 210,000 suffer from maculopathy and diabetic retinopathy. These findings underscore the critical role of regular eye examinations in detecting disease early and preventing avoidable blindness.

The burden is particularly heavy in Asia-Pacific (APAC), which accounts for nearly two-thirds of all moderate-to-severe vision impairment cases worldwide. With ageing populations and rising diabetes prevalence, two major risk factors for vision loss, the urgency to address preventable vision impairment in the region has never been greater.

Beyond the human cost, vision impairment carries a profound economic toll. The Lancet Global Health Commission on Global Eye Health estimates global productivity losses at $411 billion annually, reflecting the high price of delayed diagnosis and inadequate treatment. Vision loss limits an individual’s ability to work, care for family, and live independently, which are costs that ripple through households, health systems, and national economies.

A 2024 Asia Pacific Vision Health Survey highlights why progress has been uneven. Commissioned by Roche, the survey involved 4,354 adults aged 40 and above across eight APAC markets, including the Philippines. While awareness of vision health is high, preventive action remains strikingly low.

Survey respondents expressed deep anxiety about losing their vision not just because of blindness itself, but because of its broader consequences. Many feared losing the ability to perform daily tasks, travel independently, or remain employed. Caregivers, meanwhile, reported emotional distress, financial strain, and exhaustion, underscoring how vision impairment affects entire families, not just patients.

Yet this concern does not translate into action. Although 91% of respondents said they worry about vision impairment, only 28% undergo annual or more frequent eye examinations. One in three waits until symptoms appear before seeking care, while 12% have never consulted an eye care professional. This prevention paradox relating to high concern but low screening, represents a missed opportunity to protect vision before irreversible damage occurs.

The gap is particularly troubling among people with diabetes. Two-thirds of respondents with diabetes reported experiencing visual symptoms such as blurred vision or floaters, yet one-third still do not receive annual eye exams. Cost concerns, time constraints, and limited awareness of the importance of screening were cited as the main barriers despite the fact that early detection can dramatically slow or prevent vision loss.

Misconceptions further compound the problem. An overwhelming 94% of respondents believe that age-related vision impairment is inevitable. This belief discourages preventive care, even though many age-related eye conditions are treatable. Alarmingly, fewer than six in 10 adults aged 60 and above reported attending regular eye exams, despite being at highest risk.

Awareness of specific retinal diseases also remains low. Nearly six in 10 respondents were unfamiliar with retinal vein occlusion, while large proportions were unaware of diabetic macular edema and AMD, conditions that often progress silently until vision is permanently affected.

Professor Andrew Chang, Secretary-General of the Asia-Pacific Vitreo-retina Society, noted that the survey findings point to both an urgent need and a clear opportunity. He emphasized the importance of raising public awareness, integrating vision care into existing frameworks such as diabetes and geriatric care, and leveraging technology to create more accessible pathways to diagnosis and treatment.

These insights point to a broader conclusion: improving vision health requires moving beyond awareness campaigns toward systemic, preventive approaches. Vision screening must be embedded into routine healthcare, particularly for older adults and people living with diabetes. Health systems must prioritize early detection, reduce access barriers, and recognize vision care as a cornerstone of healthy ageing and productivity.

The research-based pharmaceutical industry stands ready to collaborate with the government, clinicians, and patient groups to advance sustainable strategies. Through innovation, partnerships, and alignment with public health goals, we can help ensure that effective eye care is accessible to all.

The International Federation of Pharmaceutical Manufacturers and Associations, a member of the International Agency for the Prevention of Blindness, supports global efforts to prevent avoidable blindness through research, innovation, and multi-stakeholder collaboration. With the right policies and partnerships, preventable vision loss need not be an inevitable consequence of ageing but a public health challenge we can overcome.

 

Teodoro B. Padilla is the executive director of Pharmaceutical and Healthcare Association of the Philippines, which represents the biopharmaceutical medicines and vaccines industry in the country. Its members are at the forefront of developing, investing and delivering innovative medicines, vaccines, and diagnostics for Filipinos to live healthier and more productive lives.