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Fuji-Haya Electric expands to Davao, strengthening presence in Mindanao

Fuji-Haya Electric Corporation of the Philippines officially opened its doors in Davao City with a momentous launching event that brought together industry partners, clients, and company leaders. The occasion marked a significant step forward in the company’s mission to bring world-class electrical engineering solutions closer to Mindanao.

The celebration began with a solemn blessing of the new office premises, symbolizing gratitude and a hopeful start for Fuji-Haya’s growing presence in the region. This was followed by the ribbon-cutting ceremony, led by company executives alongside honored guests, signifying the formal opening of the Davao branch.

After the ceremonial opening, the program transitioned into an afternoon of meaningful exchanges with valued partners and guests. Company executives shared insights about Fuji-Haya’s growth journey — from its strong beginnings in Manila, its expansion in Cebu, and now, the exciting establishment in Davao. The message was clear: this expansion is not just about geographic presence, but about strengthening partnerships, ensuring accessibility, and delivering reliable solutions to the entire country.

The highlight of the program was a presentation of Fuji-Haya Electric’s expertise and solutions — including transformers, panelboards, capacitor banks, switchgears, busducts, unit panels and many more. These products represent the company’s continuous drive to meet the evolving demands of industries and communities with safety, efficiency, and innovation at the forefront. 

The event was made even more meaningful with the participation of Fuji-Haya’s global partners. LS Electric of Korea affiirmed its long-standing partnership and support for Fuji-Haya’s expansion in the Philippines. Fuji Electric Co. of Japan, meanwhile, conducted a technical presentation on advanced innovations and critical power solutions, showcasing how international expertise strengthens local industries.

Guests enjoyed an atmosphere of collaboration and optimism, with many expressing enthusiasm about the opportunities that Fuji-Haya’s presence in Mindanao will bring. Beyond the event, the launch reinforced the company’s commitment to powering industries, infrastructure, and communities across the Philippines.

As the company officially plants its roots in Davao, Fuji-Haya Electric remains steadfast in its mission to be a trusted partner in delivering reliable power distribution solutions nationwide — a step that ensures not just growth for the company, but progress for the communities it serves.

 


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Shein plans to open its first bricks-and-mortar shop in France in November

SHEIN.COM

Online fast-fashion retailer Shein plans to open its first bricks-and-mortar shops in France in November under an agreement with department store owner Société des Grands Magasins, a move that sparked criticism from French retailers.

The stores in the BHV department store in central Paris and Galeries Lafayette department stores in five other French cities mark a new step for Shein, which has up to now only hosted temporary marketing-driven pop-ups around the world.

SGM president Frédéric Merlin said the launch would attract a younger clientele, adding that a customer might buy a Shein item and a designer handbag on the same day.

Galeries Lafayette, which sold the stores operated by SGM under its name through a franchise agreement, said it opposed the move, which would violate the franchise agreement, and plans to stop it from happening.

“Galeries Lafayette profoundly disagrees with this decision with regards to the positioning and practices of this ultra fast fashion brand that is in contradiction with its offer and values,” the group said in a statement.

RETAILERS CRITICIZE DEPARTMENT STORE DEAL WITH SHEIN
The move was, however, criticized by Paris Mayor Anne Hidalgo, who said it went against the broader goals of Paris to promote what Hidalgo described as ‘sustainable local commerce’, such as by backing local businesses and locally-made goods.

“We are extremely concerned by BHV’s decision to host, in November, the first permanent store of the Shein company in France,” wrote Hidalgo on LinkedIn.

Shein, which sells 12-euro dresses and 20-euro jeans, faces pressure from other retailers, politicians and regulators in France, where lawmakers have backed a draft law regulating fast fashion that would, if implemented, ban Shein from advertising.

“In front of the Paris City Hall, they are creating the new Shein megastore, which – after destroying dozens of French brands – aims to flood our market even more massively with disposable products,” Yann Rivoallan, head of fashion retail association Fédération Francaise du Pret-a-Porter, said in a statement.

French retailers were already struggling to compete with Zara and H&M when Shein launched, drawing cost-conscious consumers in with its discounts.

Several French fast-fashion retailers such as Jennyfer and NafNaf went into insolvency proceedings earlier this year.

SHEIN’S BRICKS-AND-MORTAR LAUNCH BRINGS CHALLENGES
Shein sells clothes and accessories at rock-bottom prices thanks to its business model of sending parcels direct from factories in China to shoppers around the world, benefiting from customs rules giving low-value e-commerce parcels an exemption from duties.

Shein executives have said its success is due to its online-only business model, meaning it has little unsold inventory, unlike bricks-and-mortar retailers.

Setting up physical stores is a big departure from that model, requiring the company to maintain inventory in stores, which will add to running costs.

It comes as Shein adapts to changes in its biggest market, the U.S., where its “de minimis” duty exemption for low-value parcels is ending. The European Union is planning to do the same.

Shein’s first store, on the sixth floor of the BHV, will open in early November, with later openings planned in Galeries Lafayette department stores in Dijon, Grenoble, Reims, Limoges, and Angers.

Executive Chairman Donald Tang has said in interviews that Shein is especially popular in provincial and rural areas where he says customers have fewer options for fashionable clothes. — Reuters

US banks expect victory in capital requirements as Trump regulators revamp rules

REUTERS

WASHINGTON – As President Donald Trump’s regulators revamp bank rules, big lenders expect their capital requirements could fall, in a stunning victory for the industry which faced a big hike under former President Joe Biden, according to senior industry executives.

Aiming to cut red tape that Trump’s agency picks say is hurting the US economy, they are working on the most sweeping overhaul of US capital rules since the global financial crisis of 2008.

In addition to narrowing the “Basel Endgame” capital hikes which sparked unprecedented pushback from Wall Street banks, the Fed plans to reduce a capital surcharge levied on risky global banks, shrink a key leverage constraint, and overhaul annual tests that gauge whether lenders can withstand an economic shock.

The country’s largest lenders, which have lobbied hard for the long-sought review, are optimistic that the changes combined will result in their capital levels remaining flat or falling, said six industry and regulatory sources, including three top bankers.

That expected outcome, reported here for the first time, marks a dramatic turnaround for the industry which faced a 19% hike in 2023 under the draft Basel capital rules which proposed changes to how big banks gauge lending and trading risks.

While the Fed last September said that hike would be halved, the plan was never finalized and died with Trump’s election.

Big banks have long complained that capital rules are excessive and poorly calibrated, and that some of that cash could better serve the economy through lending. They also argue that they weathered the COVID-19 economic shock just fine.

Critics say efforts to chip away at the capital regime are dangerous, and could leave the industry vulnerable at a time when the outlook for the US economy is growing cloudy.

With big banks including JPMorgan Chase, Bank of America and Citigroup together holding around $1 trillion in capital, even a small dip could free up billions of dollars for lending, trading, dividends and share buybacks.

“You’re going to see here the most aggressive streamlining or easing of bank regulations that we’ve seen certainly since Dodd-Frank and probably sometime before that,” said Ian Katz, managing director at Capital Alpha Partners, referring to the landmark 2010 post-crisis law that overhauled bank rules.

A Fed spokesperson declined to comment. The Fed’s new regulatory chief, Michelle Bowman, said last week that she wants the rules to “work well together” and did not necessarily expect capital to fall. Regulators will unveil a new Basel draft by early 2026, she added.

The Office of the Comptroller of the Currency and Federal Deposit Insurance Corporation, which are also working on the Basel draft, also declined to comment.

“America’s largest banks are the strongest in the world,” said Amanda Eversole, CEO of the Financial Services Forum which represents the country’s eight biggest banks. “Modernizing capital rules will let them put that strength to work – fueling growth for consumers, small businesses, and the economy.”

‘EXTREMELY CONSEQUENTIAL’
The sources, who declined to be identified discussing confidential regulatory issues, said they expect the new Basel draft to be broadly “capital-neutral” at a minimum. That means it would neither increase nor decrease system-wide capital, but change how it is distributed.

Trump’s pick for FDIC chair, Travis Hill, in January said “roughly” capital-neutral would be a “prudent starting point.”

To get there, regulators are expected to abandon a “dual stack” that would have required banks to comply with the stricter of two methods for measuring their risk capital which penalized banks with large trading businesses, and to ease a requirement to put capital aside for operational risks, like cyberattacks or lawsuits, two of the people said.

Capital reductions could then come as the Fed updates the “GSIB” surcharge to better account for economic growth, and as regulators tailor the enhanced supplementary leverage ratio, a risk-blind capital safety net, to each individual bank, three of the sources said.

After the industry sued the Fed in December, the central bank is also working to make its stress tests, which partly determine big lenders’ capital buffers, more transparent, likely helping them to optimize their results.

Two of the sources cautioned, however, that the regulatory discussions are ongoing and that Democrats on the Fed board may oppose changes that are too favorable to the industry.

Based on an analysis of industry materials, Washington-based group Better Markets, which advocates for tougher financial rules, estimates that banking system capital could fall by $200 billion if the industry secures all the relief it has been pushing for.

“It’s huge and extremely consequential,” said Phillip Basil, director of economic growth and financial stability at Better Markets. “It’s going to take a lot less to bring down a big bank.” — Reuters US

Google says hackers are sending extortion emails to corporate executives

STOCK PHOTO | Image by geralt from Pixabay

WASHINGTON – Alphabet’s Google said hackers are sending extortion emails to an unspecified number of executives from various companies, claiming to have stolen sensitive data from their Oracle business applications.
In a statement, Google said a group claiming affiliation with the ransomware gang cl0p claimed to have stolen sensitive data from their Oracle E-Business Suite.” Google described the email campaign as high volume but declined to share further details.

Google cautioned that it “does not currently have sufficient evidence to definitively assess the veracity of these claims.”

Messages seeking comment from Oracle were not returned.

Cynthia Kaiser, the head of cybersecurity firm Halcyon’s Ransomware Research Center, said her company had seen extortion demands ranging from millions to tens of millions of dollars, with the highest coming in at $50 million.

Kaiser noted some dispute over the connection to cl0p but said there are early indications that the perpetrators are potentially connected to the group.

“There’s so much overlap amongst all these groups, and there are copycats across the ecosystem,” Kaiser said.

In an email to Reuters, cl0p said the hackers were “not prepared to discuss details at this time.” — Reuters

Singapore Airlines eyes passenger growth via virtual travel fair, additional flights

Singapore Airlines Head of Marketing and PR Aiza S. Garcia (left) with Mastercard Philippines VP Judith Dayrit. — SIA

Singapore Airlines (SIA) said it aims to boost passenger traffic in the Philippines through its online travel fair and additional daily services to Manila.

“Transitioning into a virtual travel fair is a very good move for us. It’s a good decision because it provides our customers with convenience and nationwide access,” SIA Head of Marketing & PR Aiza S. Garcia told reporters on Thursday.

Ms. Garcia added that the shift to a virtual format for the annual travel fair was driven by changes in travel trends brought about by the pandemic.

“I think this holds for everybody as well, that people have become more comfortable in digital and cashless transactions,” she said. “Of course, we want to encourage a lot of Filipinos to book online at their convenience.”

Despite transitioning to an online travel fair, the market segment of the airline remains mixed.

“We do have travelers who have been frequent fliers of Singapore Airlines and those who are younger who used to aspire to flying with us, are now flying with us, so it really is a mix,” Ms. Garcia said.

She also noted that passengers who want “additional convenience” for holiday planning can book flights through travel agencies.

To further meet the demands of the Philippine market, the carrier in August added a fifth daily service (SQ913 and SQ914), increasing seat capacity by 27%. This marks SIA’s first expansion of flight services in the country since July 2009.

“Definitely, we are very optimistic in terms of the growth, especially with the capacity increase of SQ913 and SQ914,” Ms. Garcia said.

“With the additional service of SQ-913 and SQ-914, that already gives a very positive testament that there is demand and we are meeting that demand with capacity,” she added.

SIA, together with low-cost subsidiary Scoot, currently operates 86 weekly flights to and from Manila, Cebu, Davao, Iloilo, and Clark. — Almira Louise S. Martinez

Top 40 sim racers head to TGR Philippines eSports GT Championship Finals

Live national final rounds to be held Oct. 11 and 12 at Ayala Malls Manila Bay

Toyota Motor Philippines (TMP) has announced the top 40 racers who will be competing in the quarterfinals of its premier sim racing tournament, the TOYOTA GAZOO Racing eSports GT Championship 2025.

More than 250 participants from across the country put in their fastest lap time around the Suzuka East Short Course on Gran Turismo 7 on the Toyota Supra RZ’20. From this pool, only 40 players will be advancing to the quarterfinals, which will be held on Oct. 11 at the Ayala Malls Manila Bay.

Below are the Top 40 sim racers who will be competing in the quarterfinals:

Final Lineup for Quarterfinals

Enzo Ison 0:56.272
Matthew Spencer D. Ang  0:56.352
Victor Lorenzo Ancheta  0:56.442
Corwin Josiah Mercado  0:56.467
Russo Gabriel Formoso 0:56.564
Jether Miole  0:56.606
Jon Steven Chua  0:56.695
Michael Vincent W. Velasquez  0:56.709
James Talanay  0:56.790
Bien Matthew Buenaventura  0:56.836
Michael Vincent Canicosa  0:56.904
James Patrick Lopez  0:56.905
Voltaire Sayco  0:56.906
Alonso Marcus Lacambra  0:56.914
Christopher Harris Tejada  0:56.915
Zeph Marcelo  0:56.946
Kryz Axl Aranzanso  0:56.953
Victor Emmanuel Baylosis  0:56.963
Francis Angelo Gonzales  0:57.024
Arlie Jophen Matubis  0:57.028
Reinier Tolentino  0:57.046
Ethan Gabriel A. Rubio  0:57.071
Joseph Eid  0:57.093
Jiro Marcelino Cruz  0:57.127
Jo Hashimoto  0:57.142
Jhan Vernon Ablir  0:57.166
Mark Voltaire Elman  0:57.194
Paolo Ayo  0:57.237
Sean Mervin Ronquillo  0:57.240
Karl Bryan Bonono  0:57.250
Elizabeth Mae Gumila  0:57.253
Bernard Villangca  0:57.271
James Michael Ortiz  0:57.275
Matt Frederic See  0:57.275
Sherwin Rada  0:57.286
Prince Von Erico Contreras  0:57.297
Alanzo Matteo Gonzaga  0:57.317
Vito Clodualdo Paul Manas  0:57.318
Diomel Railey Pingul  0:57.337
Corban Guerrero  0:57.340

The Top 20 from the quarterfinals will head on to the semifinals on Oct. 12. The Top 10 from the semifinals will then go head-to-head in the national finals later in the day, where the Philippine representatives for the TGR Asia eSports GT Championship will be decided.

ESports fans can look forward to thrilling races, as well as other activities such as the sim racing rigs, game booths, and original GR merchandise for sale.

There will also be car displays of the GR Yaris, GR Supra and GR 86, as well as the Vios one-make-race (OMR) car and Tamaraw OMR that were driven during the 2025 TOYOTA GAZOO Racing Philippine Cup.

“We congratulate the sim racers who made it to the quarterfinals and look forward to seeing them push their limits for better at the live event at Ayala Malls Manila Bay. We invite everyone to come experience the thrilling world of eSports with us this October,” shared TMP Vice-President for Marketing Services Elvin Luciano.

The TOYOTA GAZOO Racing Philippines eSports GT Championship 2025 is sanctioned by the Automobile Association Philippines and is brought to you by Official Fuel & Lubricants Partner Petron and Official Tire Partner GT Radial.

This event is also supported by Official Timekeeper Seiko, Toyota Financial Services Philippines, Tuason Racing, AVT, 3M, Denso, OMP, ROTA, Autoplus, PIAA, Vinyl Frog Premier Vehicle Wraps, AutoQuix, Sparco, myTOYOTA Wallet and Kinto One.

For more information on the TGR Philippines eSports GT Championship and other TGR events, follow TOYOTA GAZOO Racing Philippines on Facebook, Instagram, X, YouTube and TikTok.

Follow TMP’s official pages — ToyotaMotorPH on Facebook, Instagram, and X, and join the Viber community at Toyota PH for updates.

 


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Trump determines US is at war with drug cartels, document to Congress says

LOREN BISER-UNSPLASH

WASHINGTON – President Donald Trump has determined the United States is engaged in “a non-international armed conflict” with drug cartels, according to a document notifying Congress of its legal justification for deadly US strikes on boats off Venezuela.

The text of the document, which was reviewed by Reuters on Thursday, was briefed to lawmakers by the Pentagon’s top attorney this week as experts question the legality of killing suspected drug traffickers at sea instead of apprehending them and their cargo.

The US military has blown up at least three suspected drug boats in the past month and killed at least 17 people, in what critics say is the latest effort by Trump to test the scope of his powers as US president. The document describes those killed as “unlawful combatants.”

The document did not appear to provide any new legal rationale other than what Trump and his allies have said publicly, arguments that some former military lawyers say fail to satisfy requirements under the law of war.

It was not clear if the determination was intended to provide a justification for future military strikes on cartels, or if it was mainly to explain past actions.

Trump said on Tuesday his administration is considering attacking drug cartels “coming by land” in Venezuela, actions that could raise further legal questions.

The document said Trump had determined that drug cartels were effectively non-state armed groups whose actions “constitute an armed attack against the United States.”

“The President determined that the United States is in a non-international armed conflict with these designated terrorist organizations,” according to the text of the document.

“The President directed the Department of War to conduct operations against them pursuant to the law of armed conflict,” it said, using the Republican president’s preferred name for the Defense Department.

The Pentagon did not immediately respond to a request for comment.

LEGAL AUTHORITY FOR STRIKES IN QUESTION
Legal experts have questioned why the US military is carrying out the strikes instead of the Coast Guard, which is the main US maritime law enforcement agency, and why other efforts to halt the shipments aren’t made before resorting to deadly strikes.

“Applying a new label to an old problem does not transform the problem itself – nor does it grant the US president or the US military expanded legal authority to kill civilians,” wrote Mark Nevitt, a former Navy lawyer who is now an associate professor at Emory University School of Law.

The Trump administration has argued so far that the strikes send a clear message to the drug cartels and noted that it designated them terrorist organizations earlier this year.

Addressing a gathering of senior generals and admirals this week in Quantico, Virginia, Trump defended the strikes by saying each boat has enough narcotics to kill 25,000 people. He also said the strategy was stemming the flow of seaborn drugs through the Caribbean.

“Now we have a problem. General Caine says, sir, there are no boats out there, not even fishing boats. They don’t want to go fishing,” Trump said, referring to General Dan Caine, the chairman of the Joint Chiefs of Staff.

“I don’t blame them. There’ll be no fishing today, you know. But it’s amazing what strength will do,” Trump said.

US Senator Jack Reed of Rhode Island, the top Democrat on the Armed Services Committee, said the Trump administration has failed to provide Congress with any credible justification or intelligence to justify its actions.

“Every American should be alarmed that their president has decided he can wage secret wars against anyone he calls an enemy,” Reed said in a statement. — Reuters

Paolo intensifies into typhoon, slams Isabela

PAGASA.DOST.GOV.PH

Tropical Cyclone Matmo, locally named Paolo, has intensified into a typhoon category and made its first landfall over Dinapigue, Isabela, according to the state weather bureau on Friday.

“At 9:00 a.m. today, the center of Typhoon Paolo has made landfall over Dinapigue, Isabela,” the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) said in its latest advisory.

Afterwards, PAGASA said that the typhoon is expected to cross large parts of Cagayan Valley, the Cordillera region, and the Ilocos region from Friday morning until afternoon, before reaching the West Philippine Sea by early evening.

Paolo has maximum sustained winds of 130 kilometers per hour (kph) near its eye and gustiness of 180 kph, moving west-northwestward at 25 kph, according to PAGASA’s 8:00 am advisory.

Tropical Wind Signal No. 3, bearing strong force winds, was hoisted in the northern portion of Aurora, the central and southern portions of Isabela, the northern portion of Quirino, the northern portion of Nueva Vizcaya, Mountain Province, and Ifugao.
It is likewise in effect in the southeastern portion of Abra, the northern portion of Benguet, the central and southern portions of Ilocos Sur, and the northern portion of La Union.

Signal No. 2, bringing gale force winds, was raised in the central and southern portions of mainland Cagayan, the rest of Isabela, the rest of Quirino, the rest of Nueva Vizcaya, the central portion of Aurora, the northern portion of Nueva Ecija, the central and southern portions of Apayao, Kalinga, the rest of Abra, the rest of Benguet, the central and southern portions of Ilocos Norte, the rest of Ilocos Sur, the rest of La Union, and the northern portion of Pangasinan.

Meanwhile, Signal No. 1 was declared in the rest of mainland Cagayan including Babuyan Islands, the rest of Aurora, the northern portion of Quezon including Polillo Islands, Camarines Norte, the northern portion of Camarines Sur, Catanduanes, the rest of Apayao, the rest of Ilocos Norte, the rest of Pangasinan, the rest of Nueva Ecija, the northern portion of Bulacan, Tarlac, the northeastern portion of Pampanga, and the northern portion of Zambales.

PAGASA also raised a storm surge warning in various areas primarily in Aurora, Cagayan, Ilocos Norte, Isabela where 2.1 to 3 meters of surge may occur.

The public is advised to avoid going near coasts or beaches along the storm’s path, as well as to refrain from any type of marine activity. PAGASA also reiterated warnings on the possibility of flooding and landslides, especially in areas that are highly prone to these hazards. — Edg Adrian A. Eva

‘It was love’ – Philippine family mourns daughter who died saving kin in quake

Residents affected by the magnitude-6.9 earthquake sit and wait at the roadside for help in Bogo, Cebu, Philippines, Oct. 2, 2025. REUTERS/ELOISA LOPEZ

BOGO, Philippines – In front of Juvy Ytang lay 11 caskets— all victims of a landslide triggered by a powerful 6.9-magnitude earthquake on Tuesday in the central Philippines.

Among them was her 17-year-old daughter, Lady Jane, who died saving her family, one of at least 72 people killed in the quake that struck off the island of Cebu.

Ytang, 45, recounted how her daughter rushed into a room in their home in Bogo City, shouting frantically as the ground shook, telling her to protect her two-month old baby brother.

Lady Jane threw herself over her family members in a desperate attempt to shield them from falling debris.

Moments later, she was struck fatally on the head when a landslide partially buried their house.

“It was love. She protected her mother, her siblings, her family,” Ytang said, holding her baby as she stared at her daughter’s coffin during a funeral on Thursday held outdoors under a makeshift tent.

Her baby survived with minor bruises, while her husband, Silvestre, had head and foot injuries.

“She saved us. She was the reason we lived, but she was the one who died,” he said.

Many of the victims were killed when buildings and homes collapsed – either due to the quake itself or landslides that followed. Heavy rain and the absence of power also hampered rescue efforts and more than 300 people were injured.

During a visit to hard-hit Bogo city on Thursday, Philippine President Ferdinand Marcos Jr assured victims of financial support and food and water for thousands of displaced families.

Ytang’s family is devastated and in limbo. With their home buried and aftershocks still being reported, they cannot return.

“We prayed for her,” Ytang said of her daughter. “We just pray and leave it to the Lord.” — Reuters

Japan’s next leader may be its first woman or youngest in modern era

THE Japanese national flag waves at the Bank of Japan building in Tokyo, Japan on March 18, 2024. — REUTERS/KIM KYUNG-HOON/FILE PHOTO

TOKYO – Japan stands a good chance of having its first woman prime minister or its youngest leader in the modern era after a vote on Saturday to pick the head of the nation’s ruling party.

The front-runners in the potentially historic Liberal Democratic Party election are conservative nationalist Sanae Takaichi, 64, and her more moderate rival Shinjiro Koizumi, 44. Opinion polls suggest Cabinet Secretary Yoshimasa Hayashi, 64, may also be a contender.

They are among five candidates vying to replace Prime Minister Shigeru Ishiba, who is stepping down after a series of electoral defeats.

The next leader is likely to become premier as the LDP is the biggest group in parliament, but that is not assured as the party – which has run Japan for almost all the postwar period – lost its majorities in both houses under Ishiba.

RULING PARTY IN CRISIS
Takaichi pledges to jolt the economy with aggressive government spending that could spook investors in an economy with one of the world’s biggest debt loads. She has raised the possibility of redoing an investment deal with U.S. President Donald Trump that lowered his punishing tariffs.

Farm minister Koizumi, son of former premier Junichiro Koizumi, as well as the other candidates, say they would trim taxes to help households cope with rising living costs but otherwise hew more closely to Ishiba’s economic restraint.

Whoever wins Saturday’s vote will inherit a party in crisis and a sluggish economy.

Dissatisfaction with the LDP is pushing many voters, especially disillusioned younger people, to opposition parties such as an upstart anti-immigrant far-right party.

“Koizumi and Takaichi offer two quite different approaches to that renewal,” said Tina Burrett, a political science professor at Tokyo’s Sophia University. Koizumi is seen as someone who could forge consensus with other parties while Takaichi would shake up “a world of rather grey politicians”, she said.

If chosen, Koizumi would be a few months older than Hirobumi Ito when he became Japan’s first prime minister in 1885, under the nation’s prewar constitution.

LAWMAKERS VS RANK AND FILE
Koizumi leads among the 295 LDP lawmakers who will vote for party leader, followed by Hayashi and Takaichi, according to an Asahi newspaper report on Wednesday. But Takaichi is ahead of both of them among rank-and-file party members who will get an equal number of votes in the first round on Saturday, a Nippon Television survey found.

If, as seems likely, the election goes to a second round, the advantage could shift as the vote of grassroots LDP members would fall to 47.

Takaichi, an ally of assassinated former Prime Minister Shinzo Abe, has the most expansionist economic platform of the LDP candidates. She has promised to double the size of the economy in a decade with heavy state investment in new technologies, infrastructure, food production and other areas of economic security.

She has said she would carry over Ishiba’s trade agreement with Trump, in which Japan agreed to invest $550 billion in the U.S. in return for lower tariffs on automobiles and other Japanese products, but mentioned the possibility of renegotiation if the deal proves to be unfair.

Cabinet ministers Hayashi and Koizumi have defended the deal.

For whoever wins, one of their first acts as premier is expected to be hosting Trump in Tokyo at the end of October, Reuters has reported.

Domestically they face the tall task of rejuvenating a party increasingly seen as out of touch with voters, said James Brown, a politics professor at Temple University in Tokyo.

“There’s every possibility that we’ll be returning to this issue of yet another election for the leadership of the country before too long,” Brown said. — Reuters

Fewer international students bring financial strain to US colleges

PEOPLE walk on the campus of Harvard University in Cambridge, Massachusetts, US, April 15. — REUTERS

DePaul University has told faculty it will immediately reduce spending following a 30% decline in international enrollment this fall. The move is the latest by US colleges to cope with the disruptive education and immigration policies of President Donald Trump.

The amount of the reduction is to be determined, but measures could include a hiring freeze, executive pay cuts and discretionary spending limits, university president Robert Manuel wrote in a memo to faculty on Tuesday.

Overall international enrollment at the private Catholic university in Chicago decreased by 755 students compared to last year, Manuel said. The number of first-year international graduate students fell at an even steeper pace — by nearly 62%. DePaul enrolled some 21,000 students last year, about 2,500 of them from abroad.

Manuel attributed this year’s decline to students having difficulty getting visas and losing interest in studying in the US following changes in federal policy.

DePaul is among dozens of schools that have announced budget cuts in response to Trump administration policies that are upending higher education. That includes threats to billions of dollars of funding for academic research programs, many of which act as strong lures for students from abroad. Complete enrollment figures are not yet available, but early numbers collected by Reuters suggest many first-year international graduate students are choosing to study elsewhere.

Student visas also have been in Trump’s crosshairs. Some visas have been revoked, and students seeking new visas have faced delays. The US State Department has required prospective students to make their social media accounts public so government officials who vet visa applications can screen out students deemed to have hostile attitudes toward the United States.

In May, the administration blocked Harvard University from enrolling international students after saying the university failed to address antisemitism and ethnic harassment on campus.
A US district court temporarily blocked the action, but the government has filed an appeal.
“We are all worried about the safety of our community members, the safeguarding of academic freedom, and the new financial challenges driven by changes in federal funding and visa processing,” Manuel wrote to DePaul’s faculty. “These concerns are so severe and debilitating that it’s getting hard to recognize higher education anymore.”

Asked for comment, the US departments of state and homeland security sent statements noting the government’s right to police the actions of students studying from abroad.

“This isn’t that hard,” said Tricia McLaughlin, assistant secretary at the Department of Homeland Security. “If you are living and studying in the United States on a visa, you are a guest in this country. Act like it. If you are a foreign student pushing Hamas propaganda, glorifying terrorists that relish the killing of Americans, harassing Jews, taking over buildings, or other anti-American actions that we have seen lately on these campuses, you can book yourself a ticket home. You can expect your visa will be revoked.”

At least 35 other schools, in addition to DePaul, have announced budget cuts in response to Trump administration policies. Johns Hopkins University slashed more than 2,000 jobs in March after the administration cut $800 million in grants to its research programs. Northwestern University cut 425 positions, and the University of Southern California laid off more than 630; each cited reduced federal funding, an expected drop in international student enrollment and other financial pressures.

FEDERAL POLICIES INFLUENCE STUDENT DECISIONS
In interviews with Reuters, some students cited federal policies in explaining their enrollment decisions.

A student from India who was accepted to the University of California, Davis, said she decided to defer admission and is considering other options because of uncertainty about getting a student visa. “My parents were also scared that I might get deported or something if I go right now,” she said.

A Chinese student who graduated from Northwestern University in 2024 was accepted to a US program to pursue his PhD in economics, but he said he decided to enroll in the United Kingdom because of uncertainty surrounding visas, combined with precarious research funding.

“Except one of my professors, all of them suggested that if I have a non-US option, I should think about it carefully,” he said. “So I made that choice.”

EARLY NUMBERS SHOW DECLINE
Some 1.2 million international students studied in the US during the 2024-2025 academic year, according to estimates from NAFSA: Association of International Educators, a non-profit organization. In July, NAFSA projected that number would drop by up to 15% this year, costing the US economy nearly $7 billion.

With universities still tallying their fall enrollment, it is too soon to compile nationwide data. The number of international students studying in the US this month is down 2.4% from last September – from 965,437 to 942,131, according to data from the Department of Homeland Security’s Student and Exchange Visitor Program. These numbers do not paint a full picture, however, because the number of incoming and outgoing students is in flux, and some schools have not yet reported their fall numbers.

Reuters spoke to administrators or spokespersons at 10 schools with consistently high foreign enrollment. All report declines in overall international student enrollment – ranging from a 1% dip at the University of Illinois Urbana-Champaign to a 19% drop at the University at Buffalo. Illinois has enrolled 13,268 international students, and Buffalo has 4,087.

Both schools enrolled more international freshmen this fall. But steep declines in the number of graduate students enrolling from abroad drove their overall foreign enrollment totals down. The decline was most pronounced among first-year graduate students. Illinois Urbana-Champaign has seen a 22% drop and Buffalo, 58%.

Any decrease in enrollment among first-year students has a compounding effect, said Dr. Fanta Aw, executive director and CEO of NAFSA. When admitted first-year master’s program students opt not to enroll, a school loses their tuition for two years.

Exacerbating that pain is the fact that many international students are ineligible for financial aid and thus pay full tuition. They are an important revenue source for many schools seeking to offset decreasing domestic enrollment, increasing operating costs and cuts to government funding.

On Wednesday, the Trump administration asked universities to sign a deal that could squeeze many schools even more. It seeks to cap international undergraduate enrollment at 15%.

“Universities that rely on foreign students to fund their institutions risk, among other things, potentially reducing spots available to deserving American students,” said a memo to universities shared with Reuters by a White House official.

In June, credit ratings agency Moody’s warned that falling enrollment could present a credit risk for some schools. Among the most vulnerable, it reported, are schools with graduate programs that rely heavily on international students. That dependence has grown over the past decade, the report said.

“Graduate students often pay higher tuition fees for certain programs, so the loss of these students could have a particularly severe revenue impact,” the report said. — Reuters

Philippine inflation likely rose to 1.9% in September – poll

Vendors wait for customers at a market in Tandang Sora, Quezon City. — PHILIPPINE STAR/MIGUEL DE GUZMAN

By Katherine K. Chan

HEADLINE INFLATION likely quickened to a six-month high in September, but still below the 2-4% target, due to a rise in food and fuel costs, analysts said.

A BusinessWorld poll of 12 analysts yielded a median estimate of 1.9% for September inflation, within the Bangko Sentral ng Pilipinas’ (BSP) 1.5-2.3% forecast for the month.

If realized, inflation would have accelerated from 1.5% in August but steadied from the 1.9% clip in September 2024.

Analysts’ September Inflation Rate Estimates

This would also be the fastest print in six months or since the 2.1% in February.

September may also be the seventh month in a row that the consumer price index fell below the central bank’s 2-4% target range.

The Philippine Statistics Authority is scheduled to release the September inflation data on Tuesday, Oct. 7.

“Inflation in the Philippines likely quickened to 1.9% (year on year) in September from 1.5% in August, after a series of tropical storms damaged crops and pushed up food prices,” Moody’s Analytics economist Sarah Tan said in an e-mail.

Last month, typhoons Mirasol, Ragasa (locally known as Nando) and Bualoi (Opong), coupled with the southwest monsoon, brought heavy rains and flooding in parts of the country.

“Food prices in September surged, mainly because of the strong storms that hit the country. Prices for vegetables and fish shot up significantly, with vegetable prices seeing a particularly dramatic rise compared to last year’s weaker price base,” Metropolitan Bank Trust & Co. (Metrobank) said in a note.

Emilio S. Neri, Jr., lead economist at the Bank of the Philippine Islands, said inflation may have quickened to 1.9% in September, “lifted by higher fish prices amid rains and rising rice costs following the government’s rice import suspension order.”

The 60-day suspension on imports of regular milled and well-milled rice took effect on Sept. 1.

“The ban was put in place to help lift local palay prices and protect Filipino farmers from financial loss. Despite the ongoing import ban, sustained deflation in rice prices this month will continue to temper headline inflation,” Metrobank said.

ENERGY COSTS
Higher cost of fuel, electricity and cooking oil may have also pushed up inflation in September, Chinabank Research said.

“However, these upward price pressures were likely tempered by declines in the prices of rice, meat, vegetables, fruits, and sugar,” it said.

In September, pump prices posted a net increase of P2.80 per liter for gasoline, P3.70 per liter for diesel and P2.50 per liter for kerosene.

“I surmise that headline inflation for the month of September 2025 have gone up to 1.7%, owing to the conglomeration of several factors, foremost of which is the unceasing increase in the price of basic petroleum products notably diesel product which in a month’s time has cumulatively increased by more than P4,” Emmanuel J. Lopez, professorial lecturer at the University of Santo Tomas Graduate School, said in an e-mail.

Metrobank said Manila Electric Co. (Meralco) rates were lower month on month in September, but remained elevated compared to last year.

Meralco cut electricity rates by P0.1852 per kilowatt-hour (kWh) in September, bringing the overall rate for a typical household to P13.0851 per kWh from P13.2703 per kWh a month ago. However, this is still higher than the P11.7882 per kWh recorded in September 2024.

“Visayas Electric and Davao Light also saw higher prices for the month, attributed to power plant outages across the country,” Metrobank added.

Angelo B. Taningco, research head and chief economist at Security Bank, said the peso depreciation may have also contributed to the inflation uptick last month.

The peso closed at P58.196 per dollar on Sept. 30, weakening by P1.066 or 1.83% from its finish of P57.13 on Aug. 29.

OUTLOOK
Chinabank Research said it expects inflation to remain low for the rest of the year, with average inflation settling below the 2-4% target.

Reinielle Matt M. Erece, an economist at Oikonomia Advisory & Research, Inc., said inflation may pick up ahead of the Christmas season as “higher demand adds to price pressures.”

“For the rest of the year, there is a chance inflation could edge up with holiday demand, weather risks, and global oil price movements. But barring major shocks, it would likely stay below or at 2%,” Jonathan L. Ravelas, a senior adviser at Reyes Tacandong & Co., said.

The state weather bureau earlier said they are anticipating that five to nine more tropical storms will hit the country before yearend.

“Looking ahead, inflation risks are skewed to the upside as favorable rice base effects fade, with the extension of the import suspension through yearend adding pressure,” BPI’s Mr. Neri said.

He said inflation will likely stay at the 2% level until December before climbing above 3% in the first half of 2026 due to “base effects and potential supply shocks from possible supply-chain disruptions linked to Trump’s tariffs.”

“Meanwhile, the influx of cheap Chinese exports into global markets, including the Philippines, may help temper price pressures,” Mr. Neri added.

In a separate commentary, Diwa C. Guinigundo, country analyst at GlobalSource Partners, said the projected faster headline inflation may prompt the BSP to pause at its next policy-setting meeting. 

“Rice and fish prices remain elevated, while higher fuel costs add another layer of strain on household budgets. These factors are expected to intensify headline inflation,” he said.

“Given this backdrop, the BSP may find it prudent to hold its policy rate steady in the upcoming Monetary Board meeting, prioritizing financial stability over short-term growth support,” he added.

On Aug. 28, the central bank lowered borrowing rates by 25 basis points (bps) to 5%. It has so far slashed the benchmark interest rate by 150 bps under the current easing cycle.

The Monetary Board is set to have its last two meetings this year on Oct. 9 and Dec. 11.