THE 2024 trade-in-goods deficit was revised to $54.33 billion from the $54.21 billion reported in January, the Philippine Statistics Authority said on Thursday. Read the full story.
AYALA MALLS Cinemas is screening Gulay Lang, Manong!, a 2024 Cinemalaya entry that won the Audience Choice Award at the festival. Directed by BC Amparado in his feature film debut, it follows struggling farmer Manong Pilo (Perry Dizon) who joins forces with local policeman Ariel Lacson (Cedric Juan) to rescue his grandson Ricky (BJ Forbes) and take down a marijuana cartel. It will be shown in Ayala Malls Cinemas starting April 2.
THE sophomore album of Filipino band SOS, It Was A Moment, is out now. The 11-track project is a sonically expansive, experimental journey marked by synths, keys, and anthemic guitars. It follows the band’s first album from 2017 and presents a significantly lighter sound. SOS’ It Was A Moment is out now on all digital music streaming platforms nationwide.
AMERICAN pop singer Stephen Speaks will be bringing his iconic hits “Passenger Seat,” “Out of My League,” and more to Filipino audiences in Manila with a one-night-only performance on April 3, 10 p.m., at Newport World Resort’s Bar 360. There is a minimum cover charge of P2,000, consumable on food and drinks.
FROM director Christopher Landon comes Drop, a mystery-thriller starring Meghann Fahy and Brandon Sklenar (It Ends with Us), centered on a peculiar first date. It follows Ms. Fahy as Violet, who goes on a date and starts receiving innocuous but annoying media drops on her phone. When her son’s life is threatened, she is directed to kill her date, played by Mr. Sklenar. Drop premieres in Philippine cinemas on April 9.
GAGA Corp. has announced the global theatrical release of the concert film Ado SPECIAL LIVE “Shinzou” in Cinema. Its screenings in the Philippines will start on April 11. The concert film offers an immersive journey into Ado’s live concert Shinzou at the Japan National Stadium in 2024, narrated by Ado herself. It is a lead-up to her second world tour, Hibana, which will have a Manila stop at the SM Mall of Asia Arena in Pasay City on May 8, with tickets available via smtickets.com.
A NEW SINGLE of singer-songwriter Ace Banzuelo, titled “Kilala,” has been released under Sony Music Entertainment. The dreamy, melancholic pop track delves into romantic longing, set against a backdrop of minimal guitars, gentle synths, and electronic flourishes. “Kilala” is out now on all digital music streaming platforms.
IN LINE with the strong lineup of concerts and festivals in South Korea this year — ranging from BLACKPINK’s World Tour to ZEROBASEONE’s first fan concert — W Express, in partnership with the Korea Visa Application Center, is now offering deals for Filipinos. Every visa application with the company gives travelers a chance to win American Tourister luggage. There are also discounted rates: P1,000 for the primary applicant and P500 for additional members, applicable only in Metro Manila. For more information, visit the website at https://www.wwwexpress.com.ph/
AUSTIN-BASED band Culture Wars have released their brand-new single, “Typical Ways,” now available to stream worldwide. The track layers guitars and stadium vocals and talks about the cycle of addiction and falling into one’s typical ways. Vocalist Alex Dugan wrote the song as an angry letter to himself. “Typical Ways” is out now on all digital music streaming platforms.
SPOTIFY’s artist discovery and support program RADAR Philippines is back with a fresh slate of Filipino musicians poised to be the next local and global favorites. The 2025 lineup showcases a diverse mix of genres and styles, spotlighting indie artists ONE CLICK STRAIGHT, Dilaw, and JERGE, R&B sound-makers ALLMO$T and Justin Vasquez, fresh rap acts Young Blood Neet, Zae, and Costa Cashman, and pop artist ena mori. Rounding up the roster is returnee P-pop boy group BGYO. Their music is now available on the RADAR Philippines playlist.
ON April 25, CreaZion Studios will be showing A24’s The Legend of Ochi nationwide in major cinemas. The film follows the story of Yuri, a young girl raised in a remote northern village where people caution against going outside after dark for fear of encountering an Ochi. When she meets a baby Ochi left behind by its pack, the two go on an adventure to reunite it with its family. Writer-director Isaiah Saxon Saxon was inspired by the connection between a child and a pet. The Legend of Ochi comes to Philippine cinemas in April.
FILIPINO girl group KAIA has released “TANGA,” a single now out via Sony Music Entertainment. Produced and composed by singer-songwriter Zack Tabudlo, the track blends pop confection with a ’90s R&B flair. It centers on a love that borders on naiveté, balancing a humorous, light vibe with a sense of introspection. “TANGA” is out now on all digital music streaming platforms.
TELEVISION network TV5’s “Summer-Saya Together” campaign is bringing viewers the conclusions of two drama series: Ang Himala ni Niño and Lumuhod Ka sa Lupa. Meanwhile, the reality show Sing Galing will have its first live elimination round on April 5, and Be The NEXT: 9 Dreamers shall be narrowing down its K-pop trainees from 75 to 45. ASAP will be having its 30th-anniversary celebration. Finally, the “Tara Na Sa Saya: Win A Trip Promo” shall offer two viewers a chance to win a dream trip to Japan with free airfare and accommodation, as part of the travel show Güd Morning Kapatid. The winners will be able to discover new sights, flavors, and cultures with host Maoui David for four days and three nights. More details can be found on TV5’s social media pages.
Here’s a quick glance at how PSEi stocks fared on Monday, March 31, 2025.
THE PRESIDENTIAL PALACE on Monday said suspending the Light Rail Transit Line 1 (LRT-1) fare hike on April 2 would violate the government’s contract with private operator Light Rail Manila Corp. (LRMC) amid calls to stop the hike for commuters.
“This administration also wants this not to proceed for now. However, this is stipulated in the contract. If I am not mistaken, it was mentioned that the fare hike should have been implemented a long time ago, but it was held off for the benefit of our consumers,” Presidential Communications Office Undersecretary Clarissa A. Castro told a Palace briefing in mixed English and Filipino.
“However, we also need to consider the situation because if this is part of the contract and the government fails to fulfill it, it could lead to bigger problems for our commuters.”
An LRT-1 single journey ticket is set to go up by P10 to P55 for an end-to-end trip from Dr. Santos station to Fernando Poe, Jr. (formerly Roosevelt) station. The minimum fare will also increase to P20 from P15 by April 2.
For users of stored value cards, the maximum fare would go up to P52 from the current P43 for end-to-end trips.
Transport and civic groups on Monday filed an appeal before the Office of the President to reverse the Department of Transportation’s (DoTr) order that granted the fare hike, saying the deal was “grossly disadvantageous to the public.”
In a joint statement, Bagong Alyansang Makabayan (Bayan) President Renato M. Reyes, Jr., Kilusang Mayo Uno secretary general Jerome M. Adonis and Mody T. Floranda, PISTON national president said there was no “financial necessity” for the fare hike.
The new fare matrix, which the DoTr greenlit on Feb. 14, will cover the trip from FPJ Station (formerly Roosevelt) in Quezon City to Baclaran Station in Pasay City, including the last station of the Cavite extension Phase 1.
This is also lower than LRMC’s proposal to raise the end-to-end-trip fare to P60 for single-journey tickets and P58 for stored value cards.
“The Department of Transportation (DoTr) must also disclose how it arrived at the approved figures for the new LRT fares as such have not been provided to the public,” the groups said.
Since it took over LRT-1 operations from the Light Rail Transit Authority (LRTA) in 2015, the private operator has filed several petitions for fare adjustments which have all been deferred.
Under its concession agreement, the private operator may seek a fare adjustment once every two years by 10.25% until 2046.
The transport and civic groups said the government owes the private operator more than P3 billion in deficit fees, which Mr. Reyes says shows the “disastrous effect of the privatization of train operations.”
The groups also sought for the government to end the LRTA-LRMC concession agreement, which could pose long-term risks to public debt and “endless fare hikes” until the deal ends in 2046.
“A review of privatization frameworks in transportation is necessary to prevent similar exploitative and oppressive arrangements in the future,” they said.
LRMC is the joint venture of Ayala Corp., Metro Pacific Light Rail Corp., and Macquarie Infrastructure Holdings (Philippines) Pte Ltd. Metro Pacific Light Rail is a unit of Metro Pacific Investments Corp., which is one of three Philippine subsidiaries of Hong Kong’s First Pacific Co. Ltd., the others being PLDT Inc. and Philex Mining Corp.
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., maintains interest in BusinessWorld through the Philippine Star Group, which it controls.
“The fare hike is an added burden to commuters all in the name of guaranteeing private profits,” Bayan’s Mr. Reyes said in a separate X post. — John Victor D. Ordoñez
By Chloe Mari A. Hufana, Reporter
ANTI-ADMINISTRATION sentiment in the Philippines rose sharply in the first quarter of 2025 with more voters expressing dissatisfaction with the governance of President Ferdinand R. Marcos, Jr. and the country’s economic direction, a Publicus Asia, Inc. survey found.
The independent, non-commissioned Pahayag First Quarter Survey (PQ1-2025) found that anti-administration sentiment soared to 45% from 30% in the previous quarter.
This is higher than the pro-administration sentiment, which saw a steep decline to 15% from 28%, its sharpest drop to date. Neutral sentiment remained steady at 39%.
“The survey findings highlight a deteriorating political and economic landscape as declining confidence in governance and worsening financial expectations shape public sentiment in early 2025,” Publicus Asia said in a statement on Monday.
The PQ1-2025 was conducted from March 15-20, using a purposive sampling of 1,500 respondents drawn from a research panel of over 200,000 registered Filipino voters maintained by the Singapore office of PureSpectrum, a US-based panel marketplace with a global presence.
Regional data revealed that pro-administration support is highest in the National Capital Region (22%), but anti-administration sentiment dominates in the Visayas (52%) and Mindanao (62%). Neutral sentiment remains strongest in North-Central Luzon (47%), according to the report.
The rising anti-administration sentiment also triggered an 8% increase in pro-opposition sentiment and a 7% rise in anti-opposition sentiment, with 46% of respondents maintaining neutrality between the two political factions.
Pro-opposition support is strongest in Mindanao (35%), while neutral sentiment is highest in North-Central Luzon (52%) and South Luzon (50%).
Hansley A. Juliano, a political science lecturer from the Ateneo de Manila University, linked this to the conflict between the Marcoses and Dutertes, which has culminated in the arrest of former President Rodrigo R. Duterte.
“While it is not unheard of for previous administrations to fall out with allies and pursue vendettas against them, this is probably the first time the political vendetta aligned with existing political and global demands, which led to Mr. Duterte’s successful apprehension and the reemergence of the anti-EJK (extrajudicial killing) allied movements’ discourse, now strengthened by the lack of persecution from an incumbent Duterte admin,” he told BusinessWorld in a Facebook messenger chat.
STATE OF THE COUNTRY
Moreover, the report found that public confidence in the state of the country and its economic trajectory has also deteriorated to its weakest point since 2022.
The survey revealed that 45% of respondents perceive the state of the country as weak, up from 35% in Q4 2024, while only 28% consider it strong, slipping from 31% in the previous quarter.
Similarly, 45% of respondents believe the country is headed in the wrong direction, a significant increase from 32% last quarter, while those who think the country is on the right track dropped to 29% from 42%.
Mr. Juliano attributed the decline in the country’s economic prospects to external factors, such as the fragmentation and vulnerabilities of major economies like the United States, the European Union, and Japan.
“Any suffering in the firms in those countries, especially if they outsource operations here/their supply chains reach here are likely to impact us,” he said.
“Because of this, the fact that the Marcos Jr. admin isn’t exactly innovating beyond the neoliberal status quo helps explain the downturn and vulnerabilities being more keenly felt. We are clearly still being outpaced by Vietnam and India in exploiting this downturn.”
Concerns in the economic trajectory of the country are most pronounced among respondents in Mindanao, the youth demographic (18-29 years old), middle- and high-income families, non-working individuals, and those with a college education.
Economic pessimism has also spread to household financial prospects with 39% of respondents expecting the national economy to decline further, up from 26% in the previous quarter, while optimism fell to 32% from 48%.
Meanwhile, household financial expectations have weakened, with 48% believing their financial situation will improve, down from 60% last quarter.
Across all demographics, two in three registered voters expressed pessimistic sentiments about the country’s outlook for Q2 2025, with 30% reporting growing anxiety about the nation’s future.
By Adrian H. Halili, Reporter
PHILIPPINE SENATORS on Monday urged the government to strengthen efforts to locate and provide aid to Filipinos in Myanmar and Thailand after last week’s deadly earthquake.
In a statement, Senate President Francis G. Escudero called on Philippine Embassies in Myanmar and Thailand to account for all Filipinos and ensure that “all possible help is extended to them.”
“We still have Filipinos unaccounted for up to now and as such we should exert greater efforts to locate them at the soonest possible time,” Mr. Escudero added.
“Once the dust has settled and the rescue operations have concluded, we must have a full accounting of the Filipinos who may have been affected by the earthquake and extend every possible assistance as necessary, including psychosocial support for the survivors,” he said.
A 7.7-magnitude quake struck Myanmar and parts of Thailand last Friday, crippling major infrastructures like airports, bridges and highways. The recent quake is considered to be one of the biggest in the last century.
Reuters reported Myanmar’s state media has confirmed at least 1,700 deaths, while Thailand’s official death toll stood at 18, as of Sunday.
In a separate statement, Senator Sherwin T. Gatchalian likewise called on the Department of Foreign Affairs (DFA) and the Philippine Consulate in Myanmar to intensify their efforts to locate missing Filipinos.
Mr. Gatchalian added that the DFA in Thailand should “mobilize all resources to assist those who have been adversely affected and ensure that those in need of assistance are attended to.”
Asked to comment, DFA spokesperson Ma. Teresita C. Daza said that the Philippine Embassy in Yangon continues its efforts to account for all Filipinos in the earthquake affected areas.
“Yangon [Philippine Embassy] Advance Team is traveling to Mandalay to conduct on-the-ground assessment; check on the welfare of Filipinos; gather information on the four unaccounted Filipinos; and provide some basic supplies,” Ms. Daza said in a WhatsApp message.
Meanwhile, the Senate chief also called on the proper inspection of public and private infrastructure to ensure proper preparedness for large earthquakes.
“We must see to it that regular inspections are conducted on public infrastructure and on the structures constructed by the private sector, particularly the office and residential buildings that have sprouted over the past decades,” Mr. Escudero said.
The country’s National Capital Region sits on the West Valley Fault line which is said to be due for a major earthquake. The fault line traverses the cities of Taguig, Muntinlupa, Parañaque, Quezon City, Pasig, Makati, and Marikina, as well as the provinces of Rizal, Laguna, Cavite and Bulacan.
A potential 7.2 magnitude earthquake on the West Valley Fault, or “The Big One,” could result in an estimated 48,000 fatalities and $48 billion in economic losses, according to the World Bank.
Senate Minority Leader Aquilino L. Pimentel III called on the government to boost their disaster preparedness, following the Myanmar quake and the collapse of a bridge in Isabela province.
“The recent Myanmar earthquake and the collapse of the Isabela bridge are wake-up calls to reassess the country’s disaster preparedness and infrastructure resilience,” he said in a statement.
The P1.2-billion Cabagan-Santa Maria bridge in Isabela province collapsed on Feb. 27, due to alleged critical design flaws. The bridge ultimately collapsed under the weight of two overloaded trucks, each exceeding 100 tons and far beyond the bridge’s 44-ton capacity limit.
Mr. Pimentel added that the collapse of the bridge should have prompted an evaluation of ongoing construction projects to “ensure that each infrastructure can withstand an earthquake with intensity seven and above.”
The Philippines lies in the so-called Pacific Ring of Fire, a belt of volcanoes around the Pacific Ocean where most of the world’s earthquakes strike. It also lies along the typhoon belt in the Pacific and experiences about 20 storms each year.
The Philippines frequently experiences moderate to large earthquakes, according to the US Geological Survey.
THREE CAUSE-ORIENTED organizations on Monday filed a petition before the Supreme Court (SC) questioning the constitutionality of the 2025 General Appropriations Act (GAA), citing the misallocation of funds that undermined the constitutional mandate to prioritize education.
In its petition for certiorari and prohibition with a prayer for a temporary restraining order, The Teachers’ Dignity Coalition (TDC), Freedom from Debt Coalition (FDC), and Philippine Alliance of Human Rights Advocates (PAHRA) argued that the 2025 budget violated Section 5(5), Article 14 of the 1987 Constitution, which mandates that education be prioritized in government appropriations.
The groups cited the disproportionate allocation of P1.05 trillion to the Department of Public Works and Highways, which significantly surpassed the combined P913.3-billion budget of the Department of Education, Commission on Higher Education, Technical Education and Skills Development Authority, and state universities and colleges.
The petitioners also criticized the government’s reclassification of funds, which they claimed artificially inflated the budget of the education sector.
They argued that non-traditional education-related allocations from various agencies had been aggregated to create the illusion that the education sector received the highest budgetary share.
These agencies included the Philippine Military Academy and the National Defense College of the Philippines under the Department of National Defense; the Philippine National Police Academy; the Philippine Public Safety College and Local Government Academy under the Department of the Interior and Local Government; and the Philippine Science High School System and Science Education Institute under the Department of Science and Technology.
According to the petitioners, this aggregation created a misleading P50-billion lead over the DPWH budget, which they claimed distorted the true allocation intended for basic and higher education.
They also alleged President Ferdinand R. Marcos, Jr., the Senate, and the House of Representatives have acted with a grave abuse of discretion amounting to a lack or excess of jurisdiction for signing and passing the 2025 GAA.
The plaintiffs also asked the SC to direct Mr. Marcos to desist from enforcing or implementing the 2025 GAA.
They asked the high tribunal to stop the respondents from using public funds for the enforcement and implementation of the same law.
Other named respondents were Executive Secretary Lucas P. Bersamin and both chambers of Congress.
The 2025 GAA has sparked controversy due to concerns over its alleged misallocation of funds and potential violations of constitutional mandates.
An earlier lawsuit on the 2025 budget has been filed by former Executive Secretary Victor D. Rodriguez and others, arguing that the 2025 GAA violated several constitutional provisions, including issues related to blank items in the bicameral conference committee report and the prioritization of budget allocations.
Another lawsuit was filed by Anthony C. Leachon, a health reform advocate and former special adviser on non-communicable diseases at the Department of Health.
The crux of his petition centered on the zero allocation of government subsidy for the Philippine Health Insurance Corp. in the 2025 national budget. — Chloe Mari A. Hufana
PHILIPPINE and US marines on Monday started two weeks of joint military exercises in southern Philippines, with drills focused on amphibious assault missions and special operations, the Philippine Army said.
About 480 troops of the Philippine and US Marine Corps will participate in tactical operations drills on the shorelines of the major island of Mindanao and would feature live-fire exercises to simulate coastal defense operations and improve combat readiness. The Philippines’ army, police, and coast guard will also take part in the wargames.
This year’s marine drills came ahead of Exercise Balikatan (shoulder-to-shoulder), the largest joint military exercises between the Philippine and US forces, set to take place from April 21 to May 9.
“Interoperability is the key. It is not enough to be skilled individually — we must be able to operate seamlessly with our counterparts, whether from the Philippine Marine Corps or allied forces,” Philippine Army Major General Donald M. Gumiran said in his speech during the drills’ opening ceremony in Maguindanao del Norte province, according to a statement.
The Philippines and US’ Marine Exercise is a bilateral drill between their forces, meant at honing their forces’ compatibility and improving maritime warfighting capabilities, according to a news item published on the US Indo-Pacific Command’s website. The drills started in 2022. — Kenneth Christiane L. Basilio
POWER DISTRIBUTOR Manila Electric Co. (Meralco) said on Monday that it has ramped up maintenance activities and laid down contingency measures for the dry season and the upcoming midterm elections.
“We are actively coordinating with the Department of Energy (DoE) and other industry stakeholders to ensure readiness to meet the higher demand we anticipate in the coming months, which coincides with the country’s midterm elections,” Joe R. Zaldarriaga, vice-president and head of corporate communications of Meralco, said in a statement.
The company said it has been working on its maintenance and upgrading activities to ensure that its distribution network and facilities are in good condition.
Meralco encouraged more businesses and industrial establishments to participate in the government’s Interruptible Load Program — an energy demand-side program wherein large-load customers are asked to use their generator sets or shift their operations to spare households from power interruptions whenever supply is insufficient.
Meanwhile, the distribution utility said it has also laid down contingency measures for this year’s elections by participating in the mock elections organized by the Commission on Elections to test its readiness to respond to troubles that could happen during the voting and canvassing process.
“Historically, Meralco’s franchise area has had no problems during election period, but we have prepared contingency plans in case of isolated power outages to ensure that our facilities are ready to respond to any emergency,” said Mr. Zaldarriaga.
“Our generator sets are ready, and our crews will be deployed in strategic locations so that in case of isolated interruptions, we are ready to respond accordingly,” he added.
Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT Inc.
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Sheldeen Joy Talavera
THE PESO strengthened to an over three-week high against the dollar on Monday as key US data released on Friday stoked renewed recession fears in the world’s largest economy.
The local unit closed at P57.21 per dollar on Monday, rising by 17.1 centavos from its P57.381 finish on Friday, Bankers Association of the Philippines data showed.
This was the peso’s best finish in more than three weeks or since it ended at P57.206 per dollar on March 7.
The peso opened Monday’s session stronger at P57.35 against the dollar, which was already its worst showing for the day. Its intraday best was its closing level of P57.21 versus the greenback.
Dollars exchanged went down to $1.18 billion on Monday from $1.62 billion on Friday.
The dollar was generally weaker on recession concerns following the US personal consumption expenditures (PCE) price index data and the consumer sentiment and inflation expectations reports released on Friday, a trader said in a phone interview.
“The market’s confidence was down and inflation expectations were higher due to US President Donald J. Trump’s tariffs as markets saw their implementation as rushed, which is bad for the economy as it will make inflation higher. The dollar was weaker across the board,” the trader said.
The peso was also supported by an expected increase in remittances ahead of the upcoming holidays this month, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.
For Wednesday, the trader said the market may stay cautious ahead of the reciprocal tariffs set to be announced by the Trump administration on April 2. The trader expects the peso to move between P57.10 and P57.50 per dollar, while Mr. Ricafort said it could range from P57.10 to P57.20.
Philippine financial markets are closed on April 1 (Tuesday) in observance of Eid’l Fitr or the end of Ramadan. — AMCS
PHILIPPINE STOCKS rose on Monday on last-minute bargain hunting and expectations that headline inflation eased in March.
The main Philippine Stock Exchange index (PSEi) rose by 0.54% or 33.28 points to close at 6,180.72, while the broader all shares index increased by 0.29% or 10.93 points to end at 3,677.88.
Philippine financial markets are closed on April 1 (Tuesday) in observance of Eid’l Fitr or the end of Ramadan.
“Late-day bargain hunting sent the local market higher this Monday,” Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message. “The positive finish is attributed to expectations that the Philippines’ inflation this March has remained tempered, allowing the Bangko Sentral ng Pilipinas to further ease the country’s monetary policy at their April meeting.”
“Philippine shares were trading in the red for most of the session before the market was bought up at closing to end the quarter. When the market resumes trading locally on Wednesday, investors will gear up for macroeconomic events ahead,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.
The Philippine Statistics Authority will release March consumer price index (CPI) data on April 4 (Friday).
A BusinessWorld poll of 18 analysts yielded a median estimate of 2% for the March CPI. If realized, this would be a tad slower than the 2.1% in February and the 3.7% clip in the same month a year ago. This would also be the lowest monthly inflation in six months or since the 1.9% print in September.
“The PSEi closed higher for the second straight day amid some window-dressing activities… and also after the local campaign period already started on Friday, that could benefit some listed companies in terms of higher sales and earnings in view of midterm elections-related spending,” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort added in a Viber message.
Most sectoral indices rose on Monday. Property increased by 3.02% or 66.13 points to 2,252.07; holding firms went up by 1.83% or 92.22 points to 5,108.47; industrials climbed by 1.59% or 137.76 points to 8,757.85; and mining and oil climbed by 1.12% or 105.12 points to 9,472.85.
Meanwhile, Services declined by 2.16% or 43.72 points to 1,980.73 and financials went down by 0.74% or 17.86 points to 2,374.49.
“SM Prime Holdings, Inc. was Monday’s top index gainer, jumping 5.26% to P24. Bloomberry Resorts Corp. was at the tail end, falling 5.19% to P2.92,” Mr. Tantiangco said.
Value turnover jumped to P5.35 billion on Monday with 1.15 billion shares traded from the P3.41 billion with 1.54 billion issues exchanged on Friday.
Advancers bested decliners, 104 versus 99, while 46 issues were unchanged.
Net foreign buying went up to P249.68 million on Monday from P70.34 million on Friday. — Revin Mikhael D. Ochave
FORMER Philippine President Rodrigo R. Duterte’s pending crimes against humanity charge at the International Criminal Court (ICC) is still valid even if not all alleged cases of vigilante killings during his bloody drug war were cited, a former congressman said on Monday.
The international tribunal will proceed with the trial, regardless of the number cited in his case, ex-Party-list Rep. Neri J. Colmenares, who is also chairman of political group Bayan Muna, said.
“The issue isn’t just about the exact number of dead — it’s about a president openly ordering killings, police acting with impunity, and a justice system that failed victims,” he said in a statement. “Whether it’s 30 or 30,000, state-sponsored murder is a crime against humanity.”
Vice-President Sara Z. Duterte-Carpio, Mr. Duterte’s daughter, last week cast doubt on the validity of her father’s ICC case, saying that prosecutors would likely fail to prove that the former firebrand leader’s government sanctioned state-sponsored killings during his drug war.
She said that evidence presented by prosecutors falls short of proving the scale of alleged extrajudicial killings during her father’s administration. ICC prosecutors cited only 181 pieces of evidence, far fewer than the estimated lives lost between 2016 and 2022, when Mr. Duterte was president, she added.
More than 6,000 suspected drug users and dealers were killed throughout Mr. Duterte’s six-year administration, according to government data. Human rights groups have claimed the death toll could be as many as 30,000.
The ICC has been investigating the ex-President for alleged crimes against humanity that he allegedly committed when he was Davao City mayor and during the first three years of his government, when the Philippines was still a party to the international tribunal.
“The complaint we filed in the ICC listed 3,427 killed as of July 31, 2018 because this was the number of victims killed as officially admitted by the PNP (Philippine National Police),” said Mr. Colmenares.
“If she thinks that her father cannot be convicted because he only ordered the killing of less than 30,000 people, then she is dead wrong,” he added.
The Office of the Vice-President did not immediately respond to an email seeking comment. — Kenneth Christiane L. Basilio
