A HANDBAG is displayed at a Louis Vuitton store in Bordeaux, southwestern France. — REUTERS
PARIS — European governments urgently need to ease tensions with the United States over President Donald Trump’s tariffs, LVMH Chief Executive Officer Bernard Arnault said on Thursday, adding it would be “Brussels’ fault” if no solution is found.
“European countries should try to manage these negotiations, and not leave them to bureaucrats,” he told the group’s annual shareholder meeting.
Without mentioning Mr. Trump, Mr. Arnault linked current market turmoil to global trade tensions and said LVMH’s business would suffer.
US tariffs could include a 20% charge on European fashion and leather goods and 31% for Swiss-produced watches if fully applied. Last week, Mr. Trump paused his reciprocal tariffs on most countries for 90 days, but maintained a general 10% levy.
In January, Mr. Arnault — who is France’s richest man — praised Trump for boosting economic growth and entrepreneurship and referred to a “wind of optimism” after attending his inauguration.
Since then, investor concerns over the possible economic damage of Mr. Trump’s trade policies have dragged LVMH’s shares 36% lower, reducing the group’s market capitalization by more than 100 billion euros ($114 billion).
Sector rival Hermes overtook LVMH as France’s most valuable company this week, though LVMH had regained the top position by Thursday’s market close. Around half of the LVMH’s shares are owned by the Arnault family.
To try to lessen the impact of US tariffs, Mr. Arnault repeated on Thursday that he would consider moving more production to the United States, where the group makes 25% of its annual sales.
He said Brussels would be to blame if no deal is negotiated and Europe loses some of its production, and that other companies were also considering increasing US manufacturing.
“I’ve already heard of several companies who are thinking about shifting more production to the United States, but you couldn’t say this is the fault of the companies. This would be Brussels’ fault,” he said.
The European Commission, the European Union (EU) executive, has said that the US has yet to set out its negotiating position, while US officials have not commented on talks with the EU.
Analysts have said any production shifts would likely be limited and would do little to mitigate tariff risks.
Apart from three Louis Vuitton workshops and some Tiffany jewelry-making sites, LVMH has little production capacity in the United States. Much of its business comes from selling “made in France” luxury leather goods, champagne and spirits.
Production problems at its high-profile Texas facility have meant the site has been consistently ranked among the worst-performing for Louis Vuitton globally, Reuters has reported. — Reuters
PRESIDENT Volodymyr Zelensky said on Sunday that the Russian army is making a pretense of an Easter ceasefire declared by President Vladimir Putin, continuing overnight attempts to inflict front-line losses on Ukraine.
“In general, as of Easter morning, we can say that the Russian army is trying to create a general impression of a ceasefire, but in some places, it does not abandon individual attempts to advance and inflict losses on Ukraine,” Mr. Zelensky said in a post on social media.
Mr. Putin, hours before heading to an Orthodox Easter service late on Saturday, announced the surprise one-day ceasefire, ordering his forces to “stop all military activity” along the front line in the three-year-old war.
The gesture followed a US announcement that it could abandon peace talks within days unless Moscow and Kyiv showed they were serious about negotiating.
Fighting was to stop from 6 p.m. Moscow time (1500 GMT) on Saturday until midnight on Sunday night, Mr. Putin said.
But Mr. Zelensky said there had been hundreds of instances of shelling on Saturday evening. Early on Sunday, Ukrainian forces reported 59 instances of shelling and five assault attempts along the front line, he said.
“Russia must fully comply with the conditions of silence,” Mr. Zelensky said.
He reiterated that Kyiv was willing to extend the ceasefire for 30 days but said that if Russia kept fighting on Sunday, so would Ukraine.
“Ukraine will continue to act in a mirror manner,” he said. — Reuters
WASHINGTON — Harvard said on Saturday the Trump administration was “doubling down” on far-reaching demands on the university despite a published report that government officials had sent a letter spelling out those demands without authorization.
The letter from government lawyers, received by Harvard on April 11, was sent before senior officials of US President Donald J. Trump’s administration could approve it or give the go-ahead for its release, the New York Times reported late on Friday, citing unnamed sources familiar with the matter.
Three days after that letter arrived, Harvard rejected numerous demands that it said would amount to the school giving up control over hiring, admissions and instruction to the government.
The Trump administration subsequently froze $2.3 billion in funding to Harvard and threatened to strip Harvard of its tax-exempt status and take away its ability to enroll foreign students. It also demanded information on the university’s foreign ties, students and faculty.
“Even assuming the administration now wishes to take back its litany of breathtakingly intrusive demands, it appears to have doubled down on those demands through its deeds in recent days,” a Harvard spokesperson said. “Actions speak louder than words.”
Since his January inauguration, Mr. Trump has cracked down on top US universities, saying they mishandled last year’s pro-Palestinian protests and allowed antisemitism to fester on campus. Protesters, including some Jewish groups, say their criticism of Israel’s actions in Gaza is wrongly conflated with antisemitism.
Columbia University was an early target but in recent weeks, the administration has focused on Harvard, where it is seeking oversight of its student body, faculty and curriculum in an apparent effort to curb what it perceives as the university’s liberal bias.
The content of the April 11 letter was authentic but the New York Times reported differing accounts inside the Trump administration of how it was mishandled.
The newspaper said some at the White House believed the letter was sent prematurely while others thought it was meant to be first circulated among government officials.
The White House had no immediate comment.
The administration had already sent a list of demands on April 3 to Harvard for the elite school to continue receiving federal funding. These included a mask ban, removal of diversity, equity and inclusion programs, and more cooperation with law enforcement.
The April 11 letter signed by officials at the Education Department, Health Department and General Services Administration expanded that list. It told Harvard to stop recognizing some pro-Palestinian groups and asked it to report to federal authorities foreign students violating university policies, among other demands.
Harvard had believed it could still avoid confrontation with the Trump administration because they were engaged in dialogue, the newspaper said, but the letter made Harvard feel a deal was not possible.
Harvard said it did not doubt the letter’s authenticity and called its demands “astonishing in their overreach.” — Reuters
Philippine Coast Guard personnel during the flag ceremony for the Day of Valor. — COURTESY OF PCG
by Edg Adrian A. Eva, Reporter
The Philippine Coast Guard (PCG) often makes headlines for its presence and assertion of the country’s rights over the West Philippine Sea (WPS). Others may recognize them at ports, managing crowds and ensuring commuter safety. But beyond these visible roles—what do we really know about these uniformed personnel in navy blue and white?
Courtesy of PCG: Philippine Coast Guard personnel during the flag ceremony for the Day of Valor.
With over 30,000 personnel, the PCG is an armed and uniformed maritime service under the Department of Transportation (DOTr).
The agency is mandated to uphold maritime security, enforce maritime laws, ensure safety, conduct search and rescue operations, and protect the marine environment.
As the Holy Week rush kicks in, the PCG is on heightened alert to carry out its mandate for the estimated 1.73 million passengers passing through various ports nationwide from April 14 to 20.
The PCG said in a statement that it will conduct round-the-clock assistance, passenger safety checks, baggage inspections, and vessel pre-departure inspections this year, in partnership with various stakeholders such as the Philippine Ports Authority and the Maritime Industry Authority.
Bataan, home to some of the country’s economically significant ports, is also preparing for the Holy Week rush.
PCG trainees at the Regional Training Center Bataan prepare for their swimming lesson. | photo by BusinessWorld
Ensign Jesus S Mandi, Deputy Commander of Coast Guard Station Bataan, told BusinessWorld that they have increased the number of personnel and heightened preparations in anticipation of the expected influx of people during the holy week.
“We are preparing our life-saving equipment… we are deploying our personnel to the beach resorts, to the outposts at the beach resorts, for them to monitor the area,” Mr. Mandi said in an interview in Filipino during a pre-departure vessel inspection at Camaya Coast, Bataan, last month.
Vessel Inspection
Passenger vessel MV XGC Explorer docked at Camaya Coast, Mariveles, Bataan. | photo by BusinessWorld
To ensure passenger safety, the PCG is conducting pre-departure inspections on every passenger vessel.
Vessel inspector Probationary Ensign Reynaldo Y Enriquez during an interview at Camaya Coast, Mariveles, Bataan. | Photo by BusinessWorld
BusinessWorld witnessed this firsthand during anoperation last month with vessel inspector Probationary Ensign Reynaldo Y Enriquez and his team, as they inspected the MV XGC Explorer, a passenger vessel docked at Camaya Coast, Bataan during that time.
“We conduct pre-departure inspections to ensure that the vessels meet safety criteria… and to prevent the accidents that occurred in the past from happening again,” Mr. Enriquez said in Filipino during an interview.
Mr. Enriquez said pre-departure inspections typically begin an hour before a vessel’s scheduled departure, starting with the team requesting permission from the captain.
Vessel inspector Probationary Ensign Reynaldo Y Enriquez and his team inspect the vessel’s documents at the bridge. | photo by BusinessWorld
Following Memorandum Circular No. 07-2012, Mr. Enriquez checked the vessel’s documents, including its safety certificates, to make sure everything was up to date and that the vessel was safe to depart.
The team also inspected the vessel’s navigation and control systems to ensure they were functioning properly.
Mr. Enriquez checks the vessel’s lifesaving equipment | photo by BusinessWorld
Going from the vessel’s bridge, Mr. Enriquezproceeded to inspect vessel’s life-saving equipment—such as life jackets, lifeboats, emergency signals and lights, and floating devices—to ensure they were adequate and functioning properly.
The vessel inspection also extends to the tight and sweltering space of the vessel’s engine, ensuring it is in good condition and that a backup engine is available in case of emergency.
At the vessel’s engine room, Mr. Enriquez explains the factors considered to determine if the engine is safe to depart. | photo by BusinessWorld
But beyond the critical aspects of the vessel, Mr. Enrique said that the PCG also check the crew’s well-being and workplace relationships.
“Because sometimes, on a vessel, there are conflicts. If there’s conflict, it’s hard to work,” Mr. Enriquez said in Filipino during an interview.
Coast Guard Working Dog Harold with his PCG handler. | photo by BusinessWorld
Also part of the pre-departure inspection team was Coast Guard Working Dog ‘Harold,’ a 6-year-old Belgian Malinois, working alongside his handler, Petty Officer Third Class Jason A Cajilig.
“We inspect the entire vessel by conducting a paneling of bags and luggage, as well as checking passengers, to determine if they are carrying explosives, narcotics, or any illegal items in their bags,” Mr. Cajilig said in a mix of English and Filipino during an interview.
Once the vessel passes all inspections, it is deemed fit for departure. Otherwise, any deficiencies found will be subject to fines and penalties, as outlined in the memorandum
The MV XGC Explorer was given the go signal to depart at that time, which Mr. Enriquez and the rest of the team consider a fulfilling part of their duty, knowing that passengers are assured of their safety.
“It feels good to hear civilians say, ‘Sir, we feel secure when you’re around’,” Mr. Enriquez said in Filipino during an interview.
This level of orderliness is no coincidence—it’s the result of rigorous training programs that every member of the PCG must go through before being deployed to field operations.
PCG Training
PCG trainee Rodney P Gonzales during an interview at the Regional Training Center Bataan. | photo by BusinessWorld
Rodney P Gonzales, a trainee from Class 31-2025 “Charlie” at the Regional Training Center (RTC) Bataan, joined the Philippine Coast Guard in response to a calling to serve the country.
As a practicing lawyer, he aims to make a positive change in the law enforcement of the PCG.
“The dire situations in the WPS… They are facing with many challenges, particularly in protecting our coastal waters—not just our coastal waters, but also in enforcing customs laws and other important laws,” Mr. Gonzales said in an interview at RTC Bataan last month.
PCG trainees at RTC Bataan do their morning calisthenics before sunrise. | photo by BusinessWorld
Mr. Gonzales is one of 130 trainees from the combined Class Alpha and Class Charlie, currently undergoing the boot camp phase of their four-month training program.
Ensign John Paolo R Bautista, Charlie’s Course Director, told BusinessWorld that the boot camp phase focuses on developing leadership skills and instilling a military-like character.
Ensign John Paolo R Bautista, Class Charlie’s course director, during an interview at RTC Bataan. | photo by BusinessWorld
“Here, we need to take them out of their comfort zone. We need to teach them how to move quickly, how to do 10 counts, how to bathe in just 30 seconds or less, and how to eat in just 10 seconds,’ Mr. Bautista said in a mix of English and Filipino during an interview.
“There’s a big difference between who they were before and what they are going through now in their training, which will serve as their weapon for the future as Coast Guards.”
The siren echoes as early as 4:00 am, signaling that the trainees must already be outside for their rigorous morning calisthenics, which include series of push-ups, squats, and running.
After morning mess (breakfast), morning colors, and body conditioning, during that time, the trainees proceeded to their swimming training, focusing on basic breathing techniques and swimming strokes.
PCG trainees submerge in the pool during their swimming lesson. | Photo by BusinessWorld
The routine remains similar throughout the day, often endured under the scorching heat of the sun, until the day ends at 22:00 military time.
For Mr. Gonzales, shedding his civilian habits and mindset is the hardest part of the training. But he is in ‘high morale’ to sail forward, thinking of the future of his child with his wife and his dream of serving the PCG.
Earning the navy blue and white uniform is no easy feat, but Mr. Bautista said that with determination and the ability to adapt, nothing is impossible.
Global chip stocks were battered on Wednesday on fresh evidence of how U.S. President Donald Trump’s shifting trade policy was complicating the outlook for semiconductor and computing giants, including AI pioneer Nvidia and its rival AMD.
The U.S. restriction, which also hit the MI308 processor of Advanced Micro Devices, marked the latest blow for the AI chip trade that is losing steam after a two-year rally as tariff threats and fears over Big Tech’s spending weigh on sentiment.
Nvidia shares closed down nearly 7% on Wednesday, with the company losing more than $148 billion in market value. AMD fell 5.8% as it warned of a $800 million hit from the latest curb, while AI-related chip stocks including Arm ARM.O, Broadcom AVGO.O and Micron MU.O dropped between 2.5% and 4.6%.
Nvidia said on Wednesday that it follows the U.S. government’s directions on where it can sell its chips after the U.S. Commerce Department announced on Tuesday it was issuing new export licensing requirements for Nvidia’s H20 chips.
“The U.S. government instructs American businesses on what they can sell and where — we follow the government’s directions to the letter,” Nvidia said.
“The technology industry supports America when it exports to well-known companies worldwide – if the government felt otherwise, it would instruct us,” the company added.
Tightening U.S. export curbs have in recent years made it harder for American chipmakers to tap the Chinese market, but the country remains a key source of revenue.
“The U.S. export restrictions on Nvidia’s H20 chips highlight the growing geopolitical uncertainty enveloping the tech and semiconductor sectors, particularly under Trump-era-style policy reversals,” said Michael Ashley Schulman, chief investment officer at Running Point Capital.
“This unpredictability rattles businesses and investment markets, as evidenced by Nvidia’s selloff this morning and broader pressure across chip stocks.”
Nvidia drew over 13% of its sales, or about $17 billion, from China in its last financial year, although that was down from 21% in fiscal 2023. For AMD, China was its second-largest market last year, accounting for more than 24% of total sales.
“The H20 portion was about $12 billion or so (of the total China revenue), roughly about 30 cents of earnings per share, not trivial but not enormous in the grand scheme of things,” Bernstein analyst Stacy Rasgon said.
“H20 performance is low, well below already-available Chinese alternatives; a ban essentially simply hands the Chinese AI market over to Huawei.”
Mr. Rasgon said the move may have surprised many investors as shares had surged nearly 18% last week, partly due to a report that the Trump administration planned to back off from such a curb after CEO Jensen Huang attended a Mar-a-Lago dinner.
The company had earlier this week unveiled plans to build AI servers worth as much as $500 billion in the U.S. over the next four years, a move largely seen as an overture to Trump.
Mr. Trump has for now exempted semiconductors and some other electronics from his tariffs, but he has warned that sector-specific levies will be announced in the coming weeks.
Such tariffs could cost U.S. semiconductor equipment makers more than $1 billion a year, Reuters reported on Tuesday.
NVIDIA FALLOUT
News of the latest export curb on Nvidia sparked a selloff in chip companies and its suppliers across the globe.
In South Korea, Samsung closed down about 3%, while SK Hynix closed 4% lower.
European chipmakers ASM International and Infineon Technologies fell more than 2%, while Japanese chip-testing equipment maker Advantest – an Nvidia supplier – was the Nikkei’s second-worst performer with a 5% tumble.
Still, some analysts said Nvidia’s overall sales have continued to surge even as the China contribution slows while chip demand remains strong from big cloud companies.
“While we acknowledge the likely impact to near-term numbers, we would stress that Blackwell shipments to core hyperscale customers remains the driver of fundamentals,” TD Cowen analysts said, referring to Nvidia’s latest line of AI systems. – Reuters
WASHINGTON – In a potential landmark discovery, scientists using the James Webb Space Telescope have obtained what they call the strongest signs yet of possible life beyond our solar system, detecting in an alien planet’s atmosphere the chemical fingerprints of gases that on Earth are produced only by biological processes.
The two gases – dimethyl sulfide, or DMS, and dimethyl disulfide, or DMDS – involved in Webb’s observations of the planet named K2-18 b are generated on Earth by living organisms, primarily microbial life such as marine phytoplankton – algae.
This suggests the planet may be teeming with microbial life, the researchers said. They stressed, however, that they are not announcing the discovery of actual living organisms but rather a possible biosignature – an indicator of a biological process – and that the findings should be viewed cautiously, with more observations needed.
Nonetheless, they voiced excitement. These are the first hints of an alien world that is possibly inhabited, said astrophysicist Nikku Madhusudhan of the University of Cambridge’s Institute of Astronomy, lead author of the study published in the Astrophysical Journal Letters.
“This is a transformational moment in the search for life beyond the solar system, where we have demonstrated that it is possible to detect biosignatures in potentially habitable planets with current facilities. We have entered the era of observational astrobiology,” Mr. Madhusudhan said.
Mr. Madhusudhan noted that there are various efforts underway searching for signs of life in our solar system, including various claims of environments that might be conducive to life in places like Mars, Venus and various icy moons.
K2-18 b is 8.6 times as massive as Earth and has a diameter about 2.6 times as large as our planet.
It orbits in the “habitable zone” – a distance where liquid water, a key ingredient for life, can exist on a planetary surface – around a red dwarf star smaller and less luminous than our sun, located about 124 light-years from Earth in the constellation Leo. A light-year is the distance light travels in a year, 5.9 trillion miles (9.5 trillion km). One other planet also has been identified orbiting this star.
A ‘HYCEAN WORLD’
About 5,800 planets beyond our solar system, called exoplanets, have been discovered since the 1990s. Scientists have hypothesized the existence of exoplanets called hycean worlds – covered by a liquid water ocean habitable by microorganisms and with a hydrogen-rich atmosphere.
Earlier observations by Webb, which was launched in 2021 and became operational in 2022, had identified methane and carbon dioxide in K2-18 b’s atmosphere, the first time that carbon-based molecules were discovered in the atmosphere of an exoplanet in a star’s habitable zone.
“The only scenario that currently explains all the data obtained so far from JWST (James Webb Space Telescope), including the past and present observations, is one where K2-18 b is a hycean world teeming with life,” Mr. adhusudhan said. “However, we need to be open and continue exploring other scenarios.”
Mr. Madhusudhan said that with hycean worlds, if they exist, “we are talking about microbial life, possibly like what we see in the Earth’s oceans.” Their oceans are hypothesized to be warmer than Earth’s. Asked about possible multicellular organisms or even intelligent life, Mr. Madhusudhan said, “We won’t be able to answer this question at this stage. The baseline assumption is of simple microbial life.”
DMS and DMDS, both from the same chemical family, have been predicted as important exoplanet biosignatures. Webb found that one or the other, or possibly both, were present in the planet’s atmosphere at a 99.7% confidence level, meaning there is still a 0.3% chance of the observation being a statistical fluke.
The gases were detected at atmospheric concentrations of more than 10 parts per million by volume.
“For reference, this is thousands of times higher than their concentrations in the Earth’s atmosphere, and cannot be explained without biological activity based on existing knowledge,” Mr. Madhusudhan said.
Scientists not involved in the study counseled circumspection.
“The rich data from K2-18 b make it a tantalizing world,” said Christopher Glein, principal scientist at the Space Science Division of the Southwest Research Institute in Texas. “These latest data are a valuable contribution to our understanding. Yet, we must be very careful to test the data as thoroughly as possible. I look forward to seeing additional, independent work on the data analysis starting as soon as next week.”
TRANSIT METHOD
K2-18 b is part of the “sub-Neptune” class of planets, with a diameter greater than Earth’s but less than that of Neptune, our solar system’s smallest gas planet.
To ascertain the chemical composition of an exoplanet’s atmosphere, astronomers analyze the light from its host star as the planet passes in front of it from the perspective of Earth, called the transit method. As the planet transits, Webb can detect a decrease in stellar brightness, and a small fraction of starlight passes through the planetary atmosphere before being detected by the telescope. This lets scientists determine the constituent gases of the planet’s atmosphere.
Webb’s previous observations of this planet provided a tentative hint of DMS. Its new observations used a different instrument and a different wavelength range of light.
The “Holy Grail” of exoplanet science, Mr. Madhusudhan said, is to find evidence of life on an Earth-like planet beyond our solar system. Mr. Madhusudhan said that our species for thousands of years has wondered “are we alone” in the universe, and now might be within just a few years of detecting possible alien life on a hycean world.
But Mr. Madhusudhan still urged caution.
“First we need to repeat the observations two to three times to make sure the signal we are seeing is robust and to increase the detection significance” to the level at which the odds of a statistical fluke are below roughly one in a million, Mr. Madhusudhan said.
“Second, we need more theoretical and experimental studies to make sure whether or not there is another abiotic mechanism (one not involving biological processes) to make DMS or DMDS in a planetary atmosphere like that of K2-18 b. Even though previous studies have suggested them (as) robust biosignatures even for K2-18 b, we need to remain open and pursue other possibilities,” Mr. Madhusudhan said.
So the findings represent “a big if” on whether the observations are due to life, and it is in “no one’s interest to claim prematurely that we have detected life,” Mr. Madhusudhan said. – Reuters
TOKYO – When a severe rice shortage sent prices skyrocketing in Japan last year, Tokyo restaurant owner Arata Hirano did what had once seemed unthinkable: he switched to an American variety.
The price of the Californian Calrose rice he buys has doubled since his first purchase last summer, but even so it’s far cheaper than home-grown grains.
“Unless domestic prices fall below Calrose prices, I don’t plan to switch back,” said Hirano, whose restaurant offers meal sets of fish, rice, soup and sides.
His willingness to embrace foreign rice may presage a seismic change in mindset for Japanese businesses and consumers – one that could allow Tokyo leeway to relax some restrictions if rice becomes a thorny topic in tariff talks with U.S. President Donald Trump, who has called out Japan’s high levies on its staple grain.
Wholesale prices for domestic rice have surged about 70% over the past year to hit their highest levels since current records began in 2006. Crops were hit by extreme heat while a tourism boom has added to demand. Worries abound that not much will change this year.
With inflation also raising the cost of living, businesses are now betting that a nation of people known for their discerning palates and pride in their staple grain is open to change.
Supermarket giant Aeon 8267.T last week began selling an 80-20 American-Japanese blend that’s about 10% cheaper than domestic rice after a test sales-run proved a hit. Fast-food chain Matsuya 9887.T and restaurant operator Colowide 7616.T began serving pure American rice this year. At supermarket chain Seiyu, Taiwanese rice has been flying off the shelves since last year.
It’s a sharp contrast to 1993, when the Thai rice the Japanese government imported during an acute shortage was largely shunned, leaving supermarkets with piles of unsold bags.
Rare shortages aside, for most of the past six decades, nearly all of Japan’s so-called staple rice – which is consumed at meals as opposed to rice used for feed or ingredients in other products – has been home-grown. There hasn’t been much need for imports while high tariffs, put in place to ensure Japanese self-sufficiency for its most basic food, have protected local farmers from competition.
Japan limits tariff-free “minimum access” imports of staple rice to 100,000 metric tons a year, or around 1% of total consumption. The U.S. accounted for roughly 60% of that amount last fiscal year, trailed by Australia, Thailand and Taiwan. Anything above that is subject to a levy of 341 yen per kilogram.
When Trump announced sweeping tariffs on much of the world this month, he lambasted Japan for what he said was a 700% tariff on rice, a reference to that levy. Japanese policymakers called his remarks on the sensitive topic “regrettable”. They also dispute the 700% figure, saying it’s based on outdated international rice prices.
It’s unclear, however, just how much – if at all – rice will be discussed in bilateral tariff negotiations that began this week. Some analysts think Trump’s Republican administration might not be focused on rice as exports to Japan come from California, a Democratic-leaning state. Nor is it clear how much Japan might be willing to yield in opening up its rice market.
In one sign that there might be room for some change, a panel advising the finance ministry on Tuesday proposed expanding imports of staple rice, saying that lifting the 100,000-ton tariff-free cap could help stabilize supply.
That said, Prime Minister Shigeru Ishiba’s Liberal Democratic Party is unlikely to risk angering farmers, traditionally a strong support base, ahead of upper house elections in July.
“It’s not possible to make big concessions on rice just before the elections,” said Junichi Sugawara, senior fellow at Tokyo-based Owls Consulting Group.
MORE IMPORTS TO COME
What is clear is that supply remains an issue.
In the financial year that ended in March, tariff-free imports of staple rice hit Japan’s 100,000-ton cap for the first time in seven years.
The amount of tariffed imports, while still tiny, also jumped, quadrupling in the first 11 months of fiscal 2024 to just under 1,500 tons.
And this year, rice importer Kanematsu 8020.T is shipping in its first large-scale purchase of American staple rice, 10,000 tons worth.
“We’re receiving many enquiries from the restaurant industry, convenience stores, supermarkets and rice wholesalers,” a Kanematsu spokesperson said.
In the week to April 6, Japanese supermarket rice prices hit an average of 4,214 yen ($29.65) per 5 kg, marking their 14th straight week of increase and more than double the same period a year earlier. That’s despite a rare release of rice from the government’s emergency stockpiles that started last month and is set to continue every month through July.
As for the quality and taste of imported rice, Miki Nihei, a customer at Hirano’s restaurant, Shokudou Arata, said she had no complaints and was surprised to learn it wasn’t Japanese.
“I had no idea,” she said. “I have no qualms about eating imported rice. Prices have gone up, so I’m always looking for cheaper options.” – Reuters
The Department of Education (DepEd) said on Tuesday that the ‘alarming’ rise in bullying incidents has become a national concern, prompting the department to work with other government agencies and organizations.
“To effectively combat bullying, we need to work not just inside the schools, but also in the households and communities where our learners come from,” Education Secretary Juan Edgardo “Sonny” M. Angara said in a statement.
“This is not just a school matter, it is a national priority that demands a whole-of-government, whole-of-society response,” he added.
The data presented at the largest Executive Committee (Execom) meeting convened by the department revealed that bullying cases in the National Capital Region (NCR) rose from 2,268 cases last School Year (SY) to 2,500 in SY 2024-2025.
On April 4, video footage of students from Bagong Silangan High School (BSHS) in Quezon City dragging another student’s hair went viral online.
The official statement of the BSHS on its Facebook page said it condemns the “unacceptable behavior” caught on camera and has already “closed and addressed” the incident.
“Bagong Silangan High School maintains a zero-tolerance policy for bullying and harassment, and other harmful behaviors,” it said.
“We strongly condemn these actions and assure the public that all reports of misconduct are throughly investigated and addressed,” BSHS added.
To further enhance students’ safety against bullying, the Philippine National Police (PNP) committed to intervening in bullying incidents that involve legal violations.
The DepEd added that closed-circuit televisions (CCTVs) outside “large urban and high-risk schools” will be enforced, along with increased police visibility that will follow strict adherence to the department’s policy on data privacy and zones of peace.
Meanwhile, the Department of the Interior and Local Government (DILG), backed by the Department of Justice (DOJ), proposed activating the Comprehensive Barangay Juvenile Intervention Program (CBJIP), which aims to prevent bullying through diversion and rehabilitation.
The Department of Social Welfare and Development (DSWD) is also committed to investigating reports of bullying through its field offices and establishing a “Parent Effectiveness Office” to “educate families and address root causes such as domestic problems that may influence learner behavior.”
Apart from collaborative help from government agencies, the DepEd will also be assisted by experts from the University of the Philippines College of Education and Ateneo de Manila University in enhancing its Values Education and Good Manners and Right Conduct (GMRC) curriculum.
The proposed enhancements include integrated socio-emotional learning, emotional regulation, and conflict management.
Currently, the DepEd is drafting a Default Policy on School Safety and Security that covers the guidelines for incident reporting, sanctions, psychological first aid, and financial assistance for victims of school-related incidents.
“We must act quickly and decisively,” Mr. Angara said. “The safety of our learners cannot wait for perfect conditions. What we need now is urgency, unity, and sustained action.” – Almira Louise S. Martinez
National Artist for Film, Nora Aunor | Photo source: Kristoffer Ian De Leon Facebook page (https://www.facebook.com/buchokokoy.psshh)
National Artist for Film, Nora Aunor | Photo source: Kristoffer Ian De Leon Facebook page (https://www.facebook.com/buchokokoy.psshh)
THE one and only superstar of Philippine cinema, Nora C. Villamayor, best known as Nora Aunor, has died. She was 71 years old.
The news was confirmed through a Facebook post by her son, Kristoffer Ian De Leon, on April 16. “We love you Ma… alam ng Diyos kung gano ka namin ka mahal.. pahinga ka na po Ma.. nandito ka lang sa puso at isipan namin.. (God knows how much we love you.. rest now Ma.. you’re here in our hearts and minds..),” he wrote.
He added in a later post: “She was the heart of our family — a source of unconditional love, strength, and warmth. Her kindness, wisdom, and beautiful spirit touched everyone who knew her. She will be missed beyond words and remembered forever.”
Ms. Aunor’s cause of death has not been disclosed by her family, though she reportedly had a medical procedure done in a hospital in Pasig City. The veteran actress has been battling health issues, limiting her public appearances in the past few years.
Born in Iriga, Camarines Sur in 1953, Ms. Aunor was considered the ultimate artist for being able to sing, dance, and act, as well as for breaking barriers as a morena superstar at a time that was dominated by mestizas.
She was famously “discovered” as she sang while vending her wares at a train station. Her breakout year was 1967, when she was named champion of the singing contest Tawag ng Tanghalan. After that, she became the host of musical variety show Superstar and had her film debut with All Over the World, all in the same year. As a recording artist, she brought life to classic tunes like “Pearly Shells,” “Maria Leonora Theresa,” and “Dandansoy.”
Ms. Aunor would go on to become a Hall of Famer of the Filipino Academy of Movie Arts and Sciences Awards, thanks to a string of acclaimed movies throughout her career: Minsa’y May Isang Gamu-Gamo (1976), Tatlong Taong Walang Diyos (1976), Bona (1980), Himala (1982), Bulaklak sa City Jail (1984), The Flor Contemplacion Story (1995), Thy Womb (2012), and more recently, Mananambal (2024), among many others. One of her monikers was “Ate Guy,” recalling for many her movie love team with actor Tirso Cruz III, who together were dubbed “Guy and Pip,” in the 1970s.
Her extensive filmography, which spans 170 movies, is “exceeded only by the number of awards and citations she has received from local and international organizations,” the National Commission for Culture and the Arts said in a statement. For these achievements, she was named National Artist for Film and Broadcast Arts in 2022.
Movie critic Noel Vera had written about her in 2022, saying “Nora Aunor is arguably Philippine cinema’s greatest actress… not only because she had the sheer talents but because she had the opportunity to work with some of the Philippines’ best filmmakers on some of their greatest films, producing a handful herself.”
Among the directors she worked with were Cirio Santiago, Lamberto Avellana, Gerardo de Leon, Lupita Kashiwahara, Gil Portes, Joel Lamangan, Lino Brocka, Mario O’Hara, and Ishmael Bernal, the latter two directing arguable her greatest films — Tatlong Taong Walang Diyos (1976) and Bulaklak ng City Kail (1984) with O’Hara, and Himala (1982) with Bernal.
Ms. Aunor also attempted to enter politics, with an unsuccessful congressional bid in 2022 as a party-list nominee for the National Organization for Responsive Advocacies for the Arts. She also filed for candidacy for this year’s elections under the party-list group People’s Champ Guardians but dropped out months later due to health reasons.
Once married to actor Christopher De Leon, she is survived by their biological son Ian, and four adopted children: Lotlot, Matet, Kiko, and Kenneth. Ms. Aunor’s death came three days after “Asia’s Queen of Songs” Pilita Corrales. They were in-laws through Lotlot De Leon, whose ex-husband, Ramon Christopher “Monching” Gutierrez, is Ms. Corrales’ son.
“She touched generations with her unmatched talent, grace, and passion for the craft. Her voice, presence, and artistry shaped a legacy that will never fade,” Ms. De Leon said of her mother. “She was a star not only on screen, but in the hearts of many — and stars like hers never stop shining.”
The Directors’ Guild of the Philippines posted a tribute to Ms. Aunor on Facebook. “To her fans, she was Ate Guy, but more than that, she was the voice of the voiceless, the face of the everyday Filipino, and the spirit of a people that refuses to be forgotten,” their statement said.
Though her extensive filmography and dedicated fanbase promoted a rivalry with “Star of All Seasons” Vilma Santos, the two actors were good friends. Ms. Santos extended her condolences in an Instagram story.
“Rest in peace, mare. Ms. Nora Aunor! Our Superstar and National Artist… Maraming Salamat! (Thank you very much!),” she wrote.
Details of the wake will be announced soon. — Brontë H. Lacsamana
LISTED DoubleDragon Corp. (DD) will acquire a 35% stake in listed consumer and wholesale retailer MerryMart Consumer Corp. under a P1.28-billion deal.
DD will buy 2.66-billion MerryMart common shares at 48 centavos per share from Injap Investments, Inc., it said in a regulatory filing on Wednesday.
The price was based on the 30-day volume-weighted average price (VWAP) of MerryMart shares. Half of the transaction will be paid using DD shares, while the remaining half will be settled in cash worth P637.97 million.
MerryMart is chaired by Edgar “Injap” J. Sia II while DD is a joint venture between Mr. Sia and Jollibee Group Founder and Chairman Tony Tan Caktiong.
The deal also requires DD to conduct a mandatory tender offer of MerryMart shares held by remaining shareholders of the total issued and outstanding capital stock at the same valuation, subject to final regulatory approvals.
“This transaction translates a total equity valuation for MerryMart of approximately P3.65 billion, based on the 30-day VWAP pricing,” DD said.
DD said the acquisition of a stake in MerryMart is in line with the company’s plan to shift into an investment holding company.
“Given MerryMart Group’s various formats in retail and wholesale as well as its pharmacy subsidiaries who are major pharmacy players in Quezon-Luzon and Zamboanga-Mindanao, and its dominant grocery business in Capiz province, the acquisition of the MerryMart Group is expected to create long-term value and synergy to DD,” DD said.
In April 2021, DD amended its articles of incorporation that changed its primary purpose to be an investment holding company from a real estate developer.
MerryMart generates over P7 billion worth of recurring revenue annually from essential retail such as grocery and pharmacy, and other consumer related businesses. It has 135 branches nationwide.
DD said the acquisition would also support its target of reaching P500 billion in revenue by 2035.
On Wednesday, DD shares rose by 17.20% or P1.45 to P9.88 each while MerryMart stocks surged by 25% or 12 centavos to 60 centavos apiece. — Revin Mikhael D. Ochave
SM Prime Holdings, Inc. said its office unit SM Offices will accelerate its office space expansion in the Visayas this year to meet the growing demand.
SM Offices plans to add over 85,000 square meters of leasable space this year, driven by increasing demand from both traditional and business process outsourcing (BPO) tenants, according to a regulatory filing on Wednesday.
The office developer noted a rising interest in provincial office facilities as companies expand operations outside Metro Manila to access a broader talent pool and more cost-effective locations.
As of January, occupancy for its mall-based offices stood at 95% across 15 locations nationwide.
“The flight-to-quality trend is fueling demand for high-quality, well-located corporate spaces, giving SM Offices a competitive edge,” said Alexis L. Ortiga, Head of SM Offices.
“All our regional sites are connected to SM malls and residences, making them highly accessible and attractive to businesses. This strategic advantage drives our commitment to regional expansion,” he added.
SM Offices operates both standalone office towers near SM malls and mall-based office spaces, providing easy access to public transportation, retail, dining, and entertainment options.
“Since in-person work resumed in 2022, more companies in the Philippines have prioritized office spaces that offer employee convenience and accessibility. It makes going to the office more efficient and practical,” Mr. Ortiga said.
For 2025, SM Offices has allocated P6 billion to develop new office towers and workspaces, including the Six E-Com Center office tower in the Mall of Asia complex, designed to cater to technology-driven industries and BPO firms.
SM Prime shares declined by 0.22% or five centavos to P22.60 each on Wednesday. — Revin Mikhael D. Ochave
GMA Network, Inc. saw its attributable net income drop by 34.7% to P2.07 billion in 2024, mainly due to lower advertising revenues during the period.
The company reported consolidated revenues of P17.56 billion, down 5.8% from P18.64 billion in 2023, according to its annual report.
Breaking down its topline, advertising revenues dropped by 5.5% to P16.24 billion in 2024 from P17.18 billion in 2023. Meanwhile, sales of services declined by 1.7% to P1.12 billion from P1.14 billion, while sales of goods fell by 36.1% to P199.27 million from P311.62 million.
“Advertising revenues remained the lifeblood of the Company, comprising 92% of its consolidated revenue pie. This segment saw a reduction of 15% compared with the same period last year,” it said.
GMA Network said it continues to strengthen its presence across various platforms and is working to sustain the growth of its online following, after ending the year with more than 28 million subscribers on its YouTube platform.
“Advertising revenues from this platform kept twelve-month sales in 2024 on par with the previous year, despite stiff competition in this segment,” the company said.
Meanwhile, consolidated costs and expenses rose by 1.7% to P14.84 billion from P14.59 billion in 2023.
At the stock exchange on Wednesday, shares in the company closed unchanged at P6.29 apiece. — Ashley Erika O. Jose
The Department of Education (DepEd) said on Tuesday that the ‘alarming’ rise in bullying incidents has become a national concern, prompting the department to work with other government agencies and organizations.
