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Arts & Culture (01/21/26)


Sheila Osmeña-Go exhibits with Galerie Joaquin

THE exhibition A Symphony of Corals by Sheila Osmeña-Go marks her first with Galerie Joaquin. It is a visual meditation on harmony, resilience, and interconnected life, drawing inspiration from coral ecosystems. The exhibit is ongoing until Jan. 23 at Galerie Joaquin’s space in the Atrium of Opus Mall.


DF Art Agency mounts 15th anniversary exhibit

DF ART Agency marks its 15th anniversary with Grateful Horizons, a group exhibition taking place at Leon Gallery International, Corinthian Plaza along Paseo de Roxas in Legazpi Village, Makati City. The show brings together works by 33 artists across generations, reflecting on the relationships and shared histories that have shaped the agency’s practice. Artists include Briccio Santos, Demi Padua, Miller Laberinto, and Tita Halaman. It runs until Feb. 2.


Gus Albor exhibits at Alliance Française

THE exhibit Aurae II by Gus Albor will open at the Alliance Française de Manille Gallery on Jan. 22. With a vernissage scheduled at 6:30 p.m., it will showcase Mr. Albor’s body of work that explores minimal abstraction as a distillation of form, color, and conviction. The opening is in partnership with fine dining restaurant Bocca. The exhibition runs until Feb. 21.


Raymond Lauchengco holds live book reading

THE activity series of Navitas Haus titled “Of Stories and Art” continues with singer Raymond Lauchengco, who will have a book reading at the venue. It will feature his book, Dance with the Wind, which he will read live and discuss with participants afterwards. Copies will be available for sale at the event. Open to the public from ages seven and up, there will be craft activities available for kids and coffee and food for teens and adults. Admission to the book reading is free. It takes place on Jan. 31, 1 p.m., at Navitas Haus, 6218 Manalac St., Poblacion, Makati.


Orchestra of the Filipino Youth opens concert season

THE Orchestra of the Filipino Youth (OFY) is opening its 2026 concert season with ELEVATE: Triumphs of Tchaikovsky on Feb. 1 at the Proscenium Theater, Rockwell, Makati. The young classical musicians will perform under the baton of Gerard Salonga. It will feature Tchaikovsky’s Violin Concerto, performed by rising OFY violinist Gavril Tiburcio. Tickets are available by messaging Ang Misyon on social media.


CCP Pasinaya returns with new component, venues

NOW on its 20th year, the CCP Pasinaya: The Open House Festival is ushering in this year’s National Arts Month with new components and venue partners. Slated for Feb. 7 and 8, it expands to an additional regional venue in Roxas City, Capiz, and adds Rizal Park in Luneta, Manila as a new venue partner, as well as Calle Wright as a new part of the Paseo Museo tour. The components for the two-day festival are: Palihan, a workshop-all-you-can experience offering hands-on art exploration and learning; Palabas, featuring performances by 169 participating performing arts groups; the Paseo Museo hop-on, hop-off curatorial tours across 17 museums and galleries in Metro Manila; a business-to-business platform for embassies and arts programmers titled Palitan; the Pamilihan marketplace with food stalls, artisanal treats, and handcrafted goods; and a new component called Paligsahan, which spans competitions like cosplay, TikTok, photography, mobile games, and short filmmaking. The CCP Pasinaya embraces a “workshop-all-you-can, watch-all-you-can, and pay-what-you-can” approach. Registration is available online through the official CCP Facebook page.

CREC targets 3-GW renewable portfolio by yearend

CREIT.COM.PH

SAAVEDRA-LED Citicore Renewable Energy Corp. (CREC) is diversifying its renewable energy (RE) portfolio with the development of onshore wind farms totaling nearly 200 megawatts (MW).

CREC President and Chief Executive Officer Oliver Y. Tan told reporters last week that the company aims to complete a 45-MW wind power project in Camarines Sur by next year. Its 152-MW wind farm in Iloilo is expected to be finished within the next three years.

The wind projects are being developed in partnership with Singapore-based Levanta Renewables, a collaboration established in 2024.

Together, CREC and Levanta are developing four onshore wind projects across Luzon and Visayas with a combined capacity of 375 MW. These projects secured offtake agreements through the Department of Energy’s green energy auction program in 2023.

CREC has doubled its capital expenditure budget for 2026 to around $2 billion to support the rollout of 1.2 gigawatts (GW) of solar power projects.

The company, directly and through its subsidiaries and joint ventures, manages a diversified portfolio spanning renewable energy generation, power project development, and retail electricity supply. It currently operates solar facilities in the Philippines with a combined gross installed capacity exceeding 500 MW.

CREC aims to scale its portfolio to around 5 GW by 2028 and is targeting a 3-GW capacity by the end of this year.

At the local bourse on Tuesday, CREC shares closed unchanged at P4.45 apiece. — Sheldeen Joy Talavera

Civic mindedness is a must to fight corruption: Lessons from Japan

STOCK PHOTO | Image by Daniel A from Unsplash

(Part 3)

However his Presidency will be remembered, President Ferdinand Marcos, Jr. will stand out as the Philippine Head of State who arouse the whole nation — civil society, the Catholic Bishops, the academe, and a whole range of cause-oriented political groups — to fight with all their might against corruption in all of its forms, whether public or private.

His statement “Mahiya naman kayo!”* — whatever his motivation was — will be the rallying cry of all those who will fight to rid the country of the heinous crimes of thievery, dishonesty, and deception. The multi-trillion peso robbery we have recently witnessed due to the corrupt practices directly associated with the infrastructure projects of the Department of Public Works and Highways (DPWH) literally cries out to heaven for vengeance because those humongous sums have been directly stolen from the poorest of the poor. They could have been spent improving the nutritional, educational, health, and housing conditions of the poorest of the poor.

We want to be optimistic and expect a reduction of corrupt practices in the near future as we witness some of the guilty ones go to jail; the passing of laws that will make it more difficult for the incorrigible thieves to continue plundering the public coffers; the further strengthening of institutions like the Supreme Court, the Office of the Ombudsman, and the Commission on Audit, among others. Since we were not born yesterday, however, we know that some form of corruption will continue to hound Philippine society as it has in practically all upper middle-income and high-income economies surrounding us in the Indo-Pacific region, except perhaps Japan and Singapore. We may learn some lessons from these two countries that are on top of the Good Governance global ranking year after year, together with countries like Finland, Denmark, Switzerland, Sweden, and the Netherlands.

It may strike us that none of the top countries when it comes to good governance are predominantly Catholic, like the Philippines is. Although we fully appreciate all the moral guidance we get from our spiritual leaders, starting with the Supreme Pontiff and the Bishops, and their prayerful pleas, many times their exhortations seem to fall on deaf ears. The answer can be found in the theological principle that grace does not destroy nature.

A society must first work unstintingly on forming the necessary human virtues that are the foundation of a just society among its citizens. This task is independent of the religious belief predominant in a given country. We must remember that “nature” refers to what human beings are by creation. God imbued in every human being with reason and free will, a moral conscience, and the natural ability (even before grace) to cultivate the natural virtues of justice, prudence, temperance, and courage, among others. By nature, human beings are created good and are ordered toward truth and goodness. They are  capable of knowing God in a limited way through reason (natural theology).

After the fall of our first parents, however, human nature has been wounded by sin, the only evil in the world. Because of this original sin, human beings are inclined to error and selfishness, and pride. Man has the three-fold concupiscence: of the eyes (greed); of the flesh (lust); and the pride of life. He was rendered unable by his own nature to reach his supernatural end which is the Beatific Vision. This is where Grace comes in. It is a free and undeserved gift of God, a supernatural participation in God’s own life and given through Christ, especially in the Sacrament. Grace enables human beings to be healed from sin, to act beyond their natural powers and attain supernatural ends, especially eternal bliss in heaven.

Human nature alone can aim at earthly happiness, moral goodness, and a natural knowledge of God. That is why in some non-Christian societies like Japan, there can be traditional practices embedded in child rearing through which the human virtues of concern for the common good, orderly behavior, the spirit of cooperation, and hard work can be cultivated on the basis of human nature alone. Grace is not needed in the cultivation of these human virtues. What Grace does is to raise humanity to divine sonship, friendship with God, and eternal life beyond natural capacity. This elevation is not owed to nature; it is purely a gift. Christ died to save mankind from sin out of pure generosity.

That is why it would be enlightening for us to examine what countries with low levels of corruption like Japan and Singapore practice that, based on human nature alone, nurture the virtue of civic mindedness among their citizens. We Catholics, should remember that if we don’t make the effort to train our children to be naturally concerned about the welfare of others, about the good of the community, about the good of the entire country, no amount of praying and going to the Sacraments will rid our country of corruption. Grace perfects nature. It does not replace it. Human institutions and human virtues matter. Grace does not replace politics, economics, or culture. It purifies, elevates, and directs them toward the common good, which is a social or juridical order which enables every member of society to attain his or her integral human development. Let us now study how the Japanese are able to cultivate among their young the virtues needed to keep corruption at as low a level as possible in their society.

Consulting with Chat GPT, we learn that the Japanese people cultivate social virtues — such as respect, discipline, cooperation, responsibility, and community orientation — through a systematic mix of family upbringing, school practices, cultural norms, and community institutions. These habits are nurtured early in childhood and continue to be developed throughout life. It must always be kept in mind that a virtue is a habit to do good that is developed by constant repetition, by conscious acts of the human will until it becomes spontaneous.

The process necessarily begins with the family, the foundation of society that should be protected from the evils of rampant divorce, live-in arrangements, single motherhood, same-sex unions, birth control, and abortion. Japanese families instill amoiyari (thoughtfulness for others) from early childhood. Children are taught to be considerate, avoid inconveniencing others, and maintain harmony. Parents emphasize politeness (traditional greetings, gratitude, honorific speech especially in addressing the aged). Children learn routines such as helping with household tasks, sharing, and apologizing sincerely.

At the pre-school and kindergarten stage during which early socialization is the focus, there is more time and effort devoted to character building than academic rigor. Some of the key practices consist of group play and cooperation rather than competitive sports; and an emphasis on self-reliance: as soon as they are physically able, children put away their things, dress themselves, and serve meals. There is a very early introduction to cleanliness and orderliness. Teachers exert all effort possible to be models of calm, patience, and respect instead of having recourse to strict punishment at the first provocation. This character forming stage helps form the habit of acting as part of a group while taking responsibility for oneself.

At the elementary school level, there is even greater emphasis on civic or social virtues. For example, the pupils clean their own classrooms, hallways, toilets, school grounds or premises (this is called o-soji). The children are made very conscious of their responsibility to the group, the importance of being humble, respect for shared spaces, and the spirit of cooperation. There is constant reinforcement of the idea that everyone contributes to the welfare of the community, regardless of social status. Daily class duties revolve around students rotating roles such as leading greetings, managing lunch distribution, organizing materials, watering plants, and monitoring hall behavior.

All these actions (not mere exhortations) create a sense of ownership, discipline, and civic duty. Supplementing these actions is moral education (dotoku kagami). In these classes, the teachers expound on the human virtues of honesty, empathy, perseverance, and respect for others. Subjects include contributions to society, environmental responsibility, and conflict resolution. Lessons often use stories, case studies, and role-playing rather than lectures.

(To be continued.)

*Mahiya naman kayo can be translated as “Have some shame.”

 

Bernardo M. Villegas has a Ph.D. in Economics from Harvard, is professor emeritus at the University of Asia and the Pacific, and a visiting professor at the IESE Business School in Barcelona, Spain. He was a member of the 1986 Constitutional Commission.

bernardo.villegas@uap.asia

LANDBANK plans to open 15 new branches, branch-lite units this year

LAND BANK OF THE PHILIPPINES

LAND BANK of the Philippines (LANDBANK) is planning to open 15 branches and branch-lite units nationwide this year as it looks to make financial services available to more Filipinos.

“By expanding our touchpoints, LANDBANK continues to ensure that financial services remain accessible, inclusive, and responsive to the evolving needs of our clients — especially in the countryside. These new facilities reflect our sustained commitment to empower local economies and support national development,” LANDBANK President and Chief Executive Officer Lynette V. Ortiz said in a statement on Tuesday.

The bank ended 2025 with 615 branches and branch-lite units, as well as 3,268 automated teller machines (ATMs), 3,882 ATMs in partner 7-Eleven convenient stores, and 236 cash deposit machines.

It also has 1,001 LANDBANKasama Partners, which include client cooperatives, associations, rural banks, local government units, and small enterprises  tapped by the state-run lender to provide basic banking services like cash withdrawals, deposit, fund transfers, bills payment, and balance inquiry.

In December, LANDBANK opened a new corporate center in Isabela and five branches and branch-lites to expand its footprint across Luzon, Visayas, and Mindanao.

The bank’s corporate centers serve as a one-stop shop for clients.

Meanwhile, its new branches and branch-lite units are equipped to deliver a “phygital” or physical and digital user experience in line with LANDBANK’s digitalization intiaitvies.

“Through its expanding network, LANDBANK continues to support government programs, including social protection disbursements, salary loans for employees, and credit assistance for priority sectors, contributing to inclusive growth and countryside development,” the state-run bank said.

LANDBANK’s net income climbed by 41.79% year on year to P35.64 billion in the first nine months of 2025. — A.M.C. Sy

Armani debuts first menswear line without founder as Milan Fashion Week ends

Giorgio Armani Fall/Winter 2026-2027 Men’s Fashion Show — YOUTUBE.COM/@ARMANI

MILAN — Giorgio Armani’s menswear show — the first staged without any input from the brand’s founder, who died in September — closed Milan Fashion Week on Monday, presenting a winter collection built around silky, iridescent fabrics.

Cangiante,” the Italian word for iridescent, was chosen as the title of the collection to describe something that remains entirely itself yet shifts depending on one’s perspective, according to the show notes. (See the show here: https://tinyurl.com/9fxfn5ha)

“The metaphor lends itself naturally to Giorgio Armani’s style today,” they said.

“Leo Dell’Orco’s vision emerges naturally after 40 years working alongside Giorgio Armani, and from a desire to make a personal mark on what stands as his debut,” the notes added.

Mr. Dell’Orco, longtime collaborator and partner of the late designer, continues to oversee the menswear division after the death of Mr. Armani. He is also the fashion house’s main shareholder by voting rights and chairman of the foundation in charge of the sale of a stake in the company.

The new collection combined velvet, crepe, and chenille with brushed cashmeres, felted wools, and matte leathers, creating rich, tactile contrasts.

“It was a beautiful show marked by continuity, with great attention to detail and a magnificent selection of fabrics,” said Federico Giglio, chief executive of Italy-based high-end fashion retailer Giglio.com.

Mr. Dell’Orco stepped out at the end of the fashion show to greet the audience, accompanied by his nephew Gianluca Dell’Orco, who has worked for many years in the menswear design studio. — Reuters

IdeaSpace Ventures sees brighter outlook for Philippine startups in 2026

AUSTIN DISTEL-UNSPLASH

By Beatriz Marie D. Cruz, Reporter

IDEASPACE Ventures, the startup accelerator arm of the MVP Group, said 2026 is shaping up to be a strong year for Philippine startups, as local founders show greater maturity even as competition from foreign firms intensifies.

“The future of the Philippine startup scene has never looked brighter, and 2026 is shaping up to be a coming-of-age year,” IdeaSpace Executive Director Alwyn Joy E. Rosel said in an e-mailed reply to questions.

She said local startups have moved beyond copying business models from Silicon Valley and other overseas hubs, with more founders building companies that address domestic needs and contribute to national development.

“Filipino founders have really matured,” Ms. Rosel said. “They are not just pitching dreams; they are coming to us with real businesses that already have paying customers or pilot tests with companies.”

She added that startup activity is gaining traction outside Metro Manila, with growth seen in cities such as Iloilo, Davao and Cagayan de Oro, reflecting broader access to talent and markets.

Demand this year is expected to favor startups offering business-to-business and digital services, as companies seek to automate inventory management, payments and logistics, Ms. Rosel said.

Financial technology is also seen as a growth area, including digital wallets, microinsurance, remittances and person-to-government payments.

Climate technology and renewable energy startups might also see rising demand as extreme weather events heighten the need for resilience and sustainable solutions, she added.

Despite the positive outlook, Ms. Rosel said Philippine startups continue to face challenges, particularly in funding and talent, as global companies compete for skilled workers and capital.

To attract investors, she said founders need to show a clear path to profitability, while talent retention increasingly depends on company culture and purpose, not just pay.

“It is not just about salary anymore, but about building a great company culture and offering people a chance to solve real, meaningful Filipino problems that global firms often do not touch,” she said.

IdeaSpace runs a Startup Accelerator Program that provides mentorship, training and access to industry networks.

Six startups graduated from its 13th cohort, including KaHero Apps, Inc., Soolok Properties Inc., Xure, DashoContent, Cloverly.tech and Polka Motors.

For its next cohort, IdeaSpace would remain sector-agnostic and would not set a fixed number of participants, Ms. Rosel said.

“While we typically see an average of about six startups per cohort, the final number depends on the quality of the applications and how well we feel we can support them,” she said.

IdeaSpace is also working with a local university to help turn student projects and academic research into viable ventures. It is strengthening partnerships in the Philippines and overseas to support startup growth in the provinces.

“We want to make sure that a founder in the Visayas or Mindanao has the same access to resources as someone in Makati,” Ms. Rosel said.

Established in 2012, IdeaSpace is backed by First Pacific Co. Ltd., Metro Pacific Investments Corp. (MPIC), PLDT Inc., Smart Communications, Inc., Manila Electric Co. and Maynilad Water Services, Inc.

MPIC is one of the three key Philippine units of First Pacific, the others being Philex Mining Corp. and PLDT.

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

Emirates to add four weekly Manila-Dubai flights from April

EMIRATES.COM

DUBAI-BASED carrier Emirates will expand its Manila-Dubai services with four additional weekly flights starting April 2.

The new flights, scheduled on Mondays, Wednesdays, Thursdays, and Saturdays, will raise Emirates’ Manila-Dubai weekly services to 32 from the current 28, it said in a statement on Tuesday.

These will be operated using the Boeing 777-300ER, which can carry up to 20 tonnes of cargo, eight first-class private suites, 42 lie-flat business-class seats, and 304 economy seats.

“With the expansion, Emirates now offers more options and improved connectivity to travelers, including a large number of Filipinos across our global network,” the airline said.

The additional flights will also shorten connections to and from Canada, the United States, Milan, London, Budapest, and Athens via Dubai.

Emirates said the extra frequencies will increase cargo capacity, supporting imports and exports, particularly in light of the recently signed comprehensive economic partnership agreement (CEPA) between the United Arab Emirates and the Philippines.

Currently, Emirates offers up to 22,700 weekly seats between Manila and Dubai with 28 weekly flights. The airline also maintains a partnership with Philippine Airlines (PAL), extending its domestic connectivity to Manila, Cebu, and Clark.

Last year, Emirates said it was exploring further expansion of its partnership with PAL to serve more passengers and enhance cargo operations. — Ashley Erika O. Jose

Governance over politics: Transcending political timelines

STOCK PHOTO | Image from Freepik

We often think of politics in six-year segments — the exact length of a presidency or administration. Toward the end of each term, there is little thought about turnovers especially if political opponents are angling to replace the incumbent.

To some extent, local politics are the same, except that each segment is three years long, with the preferred outcome of reelection as much as the law allows.

This thinking may have been responsible for the personality-anchored way we think about our government. Leaders are always larger-than-life characters, and their names become brands that they build, nurture, and protect.

This is a natural instinct. Elections, after all, remain to be a popularity contest, with the candidate with the highest number of votes emerging as the winner. It becomes dangerous as soon as it takes the focus away from the actual constituency — the millions of Filipinos who must be served. Once someone has been proclaimed and sworn in, one must shed being a politician and act like a true leader, even to the point of making difficult and unpopular decisions.

Yesterday, Jan. 20, the Stratbase Institute launched our book Politiká Beyond 2028: The Urgency for Resilient Growth, Inclusive Governance, and Geostrategic Thinking. We chose this title to reflect what we believe is a sound approach to leadership during these difficult times. Indeed, we need a cohesive, forward-looking, and strategic approach to address multi-domain threats, economic vulnerabilities, and governance challenges in the context of evolving geopolitical dynamics in the Indo-Pacific region.

This is a collection of think pieces and research articles that show we can never truly talk of national events through a single lens. It underscores the interconnected nature of economic security, governance, and defense as we advocate institutional reforms to combat corruption, enhance public trust, and ensure effective policy implementation.

Through the book, we emphasize the need to shift from fragmented responses to long-term strategies that address multi-domain threats. By creating resilience across sectors, the Philippines can position itself as a proactive and resilient player in the region, capable of navigating the complexities of major power competition while advancing its national interests.

These multi-faceted, interconnected, and complex issues know no political timelines. These concerns will continue to define both the Philippines’ stake and its trajectory, regardless of the occupants of the seats of power.

But what exactly are these domains? We believe there are three most urgent spheres: maritime security and defense posture, cybersecurity and disinformation, economic security and regional cooperation.

On the first concern, we believe in transitioning the Armed Forces of the Philippines (AFP) from an organization focused on counterinsurgency to one with a multi-domain defense strategy addressing land, sea, air, cyber, and space threats. This includes modernizing the AFP and Philippine Coast Guard to counter China’s gray zone tactics and ensure freedom of navigation in the West Philippine Sea, as well as leveraging alliances with the United States, Japan, and Australia to enhance maritime domain awareness and defense capabilities.

When it comes to addressing cybersecurity and disinformation threats, we believe the focus should be on countering cyber-enabled disinformation campaigns that undermine public trust, sow division, and erode democratic processes. We also need to develop a comprehensive cybersecurity framework, enhance public resilience through media literacy, and collaborate with international partners to counter foreign malign influence operations. Promoting transparency campaigns and counter-narratives to expose aggressive actions and combat disinformation effectively is important.

Finally, to promote economic security and regional cooperation, we support the diversification of trade and investment partnerships to mitigate external vulnerabilities and reduce reliance on single markets, particularly China. We should strengthen the ASEAN’s institutional capacity and promote economic integration to reinforce regional stability amid intensifying US-China competition and collaborate with ASEAN member states and align national interests with regional priorities to advance economic and geopolitical stability.

If we could succeed in this, we could strategically position the Philippines as a promising hub for business and investment in the Indo-Pacific region. We can leverage our geostrategic location, abundant natural resources, and young, skilled workforce. By implementing key reforms such as economic diversification, transparent governance, and infrastructure development, the country can foster a stable and predictable investment climate that appeals to global investors. Such will have immediate and tangible benefits that would trickle down to Filipino communities and households across the country.

The recurring theme of the book is the importance of adopting a long-term, cohesive strategy that transcends political timelines and changes in government administration. Economic and political development should not be constrained by short-term political cycles or shifts in leadership. Instead, the Philippines must prioritize institutional reforms that ensure continuity, transparency, and accountability in governance, regardless of the administration in power.

Through the book, we reiterate our call for unified action, emphasizing collaboration among government agencies, civil society, the private sector, and international partners to safeguard national interests and ensure sustainable development. We emphasize the importance of leveraging strategic and regional partnerships, as well as proactive leadership and institutional reforms.

Governance and leadership should never be viewed in administrative terms. Rather, they are long-term pursuits that must ultimately redound to the benefit not of any single political party or family, but of the Filipino people.

 

Victor Andres “Dindo” C. Manhit is the president of the Stratbase ADR Institute.

BDO sells controlling stake in DHI

A woman withdraws money at the Automated Teller Machine (ATM) of the Banco de Oro (BDO) Unibank, Inc. building in Makati City, Metro Manila, Philippines, June 23, 2016. — REUTERS

BDO UNIBANK, Inc. (BDO) is selling its controlling stake in its listed investment holding company Dominion Holdings, Inc. (DHI) for P2.54 billion.

The bank on Jan. 19 signed a share purchase agreement with Monte Sur Equity Holdings, Inc. to sell 1,513,732,718 shares or 70% of DHI at P1.68 per share, it said in a disclosure to the stock exchange on Tuesday.

Following the sale, DHI will no longer be a subsidiary of BDO.

“The disposition of DHI is aligned with BDO Group’s continuing policy of streamlining its organizational structure following the conversion of DHI into an investment holding company,” the bank said.

On Tuesday, DHI requested a voluntary trading suspension that will be lifted at 9 a.m. on Jan. 21 to give investors time to consider the news.

The transaction is still subject to the necessary regulatory approvals and closing conditions, which include the conduct of a mandatory tender offer by Monte Sur Equity Holdings.

DHI, formerly BDO Leasing and Finance, Inc., holds or owns real estate properties, securities or shares of stocks, and other assets of companies and engages in investment and business activities involving these assets.

The Securities and Exchange Commission in July 2022 approved DHI’s change of name and the shift in its purposes to that of a holding company from a leasing and financing company.

DHI booked a net income of P34.81 million in the third quarter of 2025, down from P36.53 million in the prior year. This brought its nine-month profit to P106.43 million, declining from P171.01 million previously.

Its shares last closed at P1.40 each on Jan. 19.

Meanwhile, its parent BDO’s attributable net income rose by 6.1% year on year to P22.47 billion in the third quarter, bringing its nine-month earnings to P63.09 billion, up 4.07% from the prior year.

Its shares dropped by P3.30 or 2.34% to close at P138 apiece on Tuesday.

BDO ENDS BOND OFFER
Meanwhile, BDO closed its public offering of sustainability bonds ahead of schedule as it saw robust demand, it said in a separate disclosure on Tuesday.

“Originally set to run from Jan. 7 to 19, the bank decided to close the offer period early, on Jan. 16, following strong demand from both retail and institutional investors,” the bank said.

It has yet to announce the final issue size. The bonds will be issued, settled, and listed on the Philippine Dealing & Exchange Corp. on Jan. 26.

BDO earlier said it wants to raise at least P5 billion from its offering of three-year papers that marks its fifth issuance of peso-denominated ASEAN Sustainability Bonds.

The bonds carry a coupon rate of 5.7125% per annum. They were offered at a minimum investment amount of P500,000 and in additional increments of P100,000 thereafter.

“The net proceeds of the issuance are intended to finance and/or refinance eligible assets as defined in the bank’s Sustainable Finance Framework, support the bank’s lending activities, and diversify the bank’s funding sources,” BDO said.

Standard Chartered Bank was the sole arranger for the transaction and was also a selling agent along with BDO. BDO Capital and Investment Corp. was the financial advisor.

BDO has issued a total of P286.7 billion in sustainability bonds since January 2022.

It last tapped the domestic market in July last year via its fourth ASEAN Sustainability Bond issuance, raising P115 billion via 1.5-year papers, well above the initial P5-billion plan and marking the largest peso bond issuance in the country to date. — A.M.C. Sy

Italy uncovers basilica designed by Vitruvius, the ‘father of architecture’

ROME — Italian officials on Monday hailed the discovery of a more than 2,000-year-old public building attributed to Vitruvius, the ancient Roman architect and engineer known as the “father of architecture.”

“It is a sensational finding… something that our grandchildren will be talking about,” Italian Culture Minister Alessandro Giuli told a press conference.

Vitruvius, who lived in the 1st century BC, is celebrated for having written De architectura, or The Ten Books on Architecture, the oldest surviving treatise on the subject.

His teachings on the classical proportions of buildings have inspired artists over centuries, including Leonardo da Vinci, whose famous drawing of the human body is known as the Vitruvian Man.

BASILICA BELIEVED TO BE ‘DISCOVERY OF THE CENTURY’
Archaeologists believe they have found the remains of an ancient basilica, or public building, in the central Italian city of Fano northeast of Rome, that was created by Vitruvius.

“I feel like this is the discovery of the century, because scientists and researchers have been searching for this basilica for over 500 years,” said the Mayor of Fano Luca Serfilippi.

“We have [an] absolute match” between what was discovered and the descriptions given by Vitruvius in his books, regional archaeological superintendent Andrea Pessina told reporters.

PRECISE LAYOUT DESCRIPTIONS
The basilica had a rectangular layout, with 10 columns on the long side, and four on the short ones, Mr. Pessina said.

During excavation, when traces of four columns emerged, archaeologists used Vitruvius’ descriptions to calculate where the top right corner column should be. When they started digging, they found it immediately, Mr. Pessina said.

“There are few certainties in archaeology… but we were impressed by the precision” of the match, he added.

Further digging will determine whether more of the basilica lies underground and if the site can be shown to the public, the superintendent said. — Reuters

Salesforce launches startup support program in Philippines

SALESFORCE.COM

US SOFTWARE company Salesforce on Tuesday rolled out its Startup Program in the Philippines, aiming to support local tech startups by giving them access to its products, mentors and global business network.

The program seeks to help Philippine startups build, test and scale technology-based products, particularly those using artificial intelligence (AI), Salesforce said in a statement.

“The Philippines is a dynamic market for technology and innovation, driven by a young, skilled and tech-savvy population,” the company said. “This launch reflects Salesforce’s recognition of the country’s vibrant startup landscape.”

The move comes as the Philippines continues to lag regional peers in global startup rankings. Research firm StartupBlink ranked the country 64th out of 100 economies in its 2025 Global Startup Ecosystem Index, marking the fourth straight year of decline. The Philippines ranked 52nd in 2021 and slipped steadily in subsequent years.

StartupBlink cited infrastructure gaps and regulatory hurdles as key challenges holding back the growth of local startups.

Salesforce said its startup program is designed to help founders navigate these obstacles by offering access to AI-powered tools, mentorship, joint go-to-market opportunities, fundraising support and a startup community.

“The Philippines is a vibrant hub for startups, with a growing pool of talent and a dynamic market ready for innovation,” Salesforce Philippines Regional Vice-President and Country Manager Abraham Cuevas said.

“The Salesforce Startup Program arrives at a pivotal moment, enabling Philippine startups to leverage cutting-edge tools, including Agentforce and a network of experts and founders to rapidly develop, test and scale solutions,” he added.

Salesforce said the initiative aligns with the government’s Innovative Startup Act 2030 roadmap, which aims to produce four Philippine unicorns by 2030 and attract $10 billion in startup investments within five years.

The Startup Program was first launched in South Asia in 2021 and has since supported more than 435 startups in markets such as India and Singapore, including more than 230 companies focused on AI.

Apart from startup support, Salesforce has also expanded its local presence. The company opened its Philippine office in November to support businesses adopting AI-driven customer relationship tools.

Salesforce said it plans to train 12,000 Filipino workers over the next five years in artificial intelligence and customer relationship management skills, as demand grows for digital and automation solutions across industries.

The company said it sees long-term potential in the Philippines as more firms adopt cloud-based platforms and AI to improve productivity, customer engagement and business efficiency. — Almira Louise S. Martinez

Tubig Pilipinas targets to complete 50-MLD Cebu water project this year

STOCK PHOTO | Image by Pvproductions from Freepik

TUBIG PILIPINAS Holdings, Inc. is targeting to complete the construction of its bulk water supply project in Talisay City, Cebu, within 2026, which could deliver 50 million liters per day (MLD) to local residents.

“The Tubig Pilipinas continues to expand its national footprint with the ongoing construction of the 50 MLD Jaclupan Bulk Water Supply Project in Talisay City, Cebu, that will be operational within the year,” the company said in a media release on Tuesday.

The project follows the recent inauguration of a P1.5-billion water treatment plant serving Bacolod City and the municipality of Murcia, led by Tubig Pilipinas’ subsidiary Bacolod Bulk Water, Inc.

The facility currently supplies about 40 MLD, roughly 40% of Bacolod City’s total water demand, and has expansion capacity of up to 60 MLD.

“This project demonstrates how strong public-private partnerships and foreign investments deployed into strategic and focused water companies such as Tubig Pilipinas can deliver critical infrastructure that supports SDG (sustainable development goals),” Bacolod Bulk Water Chairman Ryan Yapkianwee said.

Tubig Pilipinas now operates water plants across Nueva Ecija, Negros Occidental, Samar, Camarines Sur, Isabela, Cavite, Palawan, Pangasinan, and Cebu.

In December, Coal Asia Holdings, Inc. announced plans to raise its authorized capital stock by 160% to P13 billion from P5 billion.

The expansion forms part of a broader overhaul, which includes renaming Coal Asia to Tubig Pilipinas, a move designed to enable a public listing via backdoor listing. — Sheldeen Joy Talavera