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Hongqi is The Bellevue Manila’s mobility provider

From left are The Bellevue Manila Assistant Director for Group Marketing Justine Delacerna, The Bellevue Manila Managing Director John Patrick Chan, Hongqi Philippines Vice-President and General Manager David Zaballero, and Hongqi Philippines Sales and Marketing Head Brian Badilla. — PHOTO FROM HONGQI PHILIPPINES

HONGQI PHILIPPINES has partnered with The Bellevue Manila, a premium hotel in Alabang, to add “chauffeur-driven luxury mobility” to the establishment’s “high-level guest experiences.” Weddings and VIP guests will have access to Hongqi’s lineup, to “extend the experience beyond the venue.”

As part of the partnership, Hongqi’s flagship models, the E-HS9 full-size SUV and the HQ9 luxury MPV will be available for hotel guests and VIPs. The vehicles offer “a composed and refined ride defined by spacious interiors, premium materials, and features suited for milestone occasions.” Said EVOxTerra and TDG Group President and Co-CEO Rashid Delgado, “Hongqi has always stood for luxury, where design, comfort, and experience come together seamlessly, and we are proud that this partnership allows us to push that philosophy further.”

Hongqi Philippines has a vehicle display at the Grand Ballroom lobby of The Bellevue Manila. Browsers who would like to test-drive the other Hongqi models may experience them firsthand at the brand’s showrooms in Alabang, BGC, Manila Bay, or Quezon City. For information, visit www.hongqi.ph or follow Hongqi Philippines on Facebook (hongqi.philippines) and Instagram (@hongqi_ph).

Paris Fashion Week:  Biker looks at Hermès; Victoria Beckham shows sheer dresses, sharp suits; Stella McCartney goes equestrian; lace dresses and power suits at Saint Laurent; flower power at Dior

SAINT LAURENT — YOUTUBE.COM/@FASHIONFEED

PARIS — Hermès designer Nadege Vanhee took inspiration from the ambience of twilight for a fall/winter collection featuring fluid leather coats, zip-front mini dresses, and biker shorts.

(See the show here: https://tinyurl.com/5287jtn3)

Guests entering the Garde Republicaine, the sprawling barracks of Paris’ mounted gendarmes, stepped onto a floor of thick moss extending across the show space. Models emerged from a luminous circular opening in the far wall evoking the moon and marched along a winding raised catwalk, above the vegetation.

The looks came in dusky blue and green tones, with pops of orange, oxblood and yellow.

Tight dresses in dark leather had asymmetrical zips revealing a contrasting shirt underneath, while long brown overcoats featured huge sheepskin collars.

Aviator jackets and trench coats were paired with glossy cycle shorts made out of lambskin. Ostrich leather was used throughout for jackets, jodhpurs, and an orange biker-inspired jumpsuit that was zipped up the front and belted at the waist.

Tailoring featured double-breasted jackets and cigarette trousers in browns and iridescent burgundy.

Ms. Vanhee has been womenswear creative director since 2014 for Hermès, which caters to the ultra-wealthy and tightly controls access to its products, with years-long waiting lists for its most exclusive handbags.

VICTORIA BECKHAM
Victoria Beckham presented sculptural gowns in sheer fabrics, tightly cut suits and voluminous coats in Paris on Friday for a fall/winter 2026 collection that played with shape and texture. (See the show here: https://tinyurl.com/3z6yhkcw)

Dresses in dark blues and greens featured bodices of three-dimensional rosettes, a motif that repeated across skirts, contrasting with sober suits in navy and black.

Large overcoats were paired with sheer white skirts or drainpipe trousers, while knitwear had giant collars and cut-outs revealing the models’ backs.

According to the show notes, the collection was inspired by the work of Art Deco artist Tamara de Lempicka, famous for her cubist portraits of aristocrats in sumptuous clothing.

STELLA MCCARTNEY
Stella McCartney, known for her commitment to animal rights and sustainability, put horses at the center of her eponymous brand’s Paris Fashion Week show set in a riding hall in Paris’ Bois de Boulogne. (See the show here: https://tinyurl.com/2zk6pddh)

Five black horses and five white horses charged in and began performing an intricate equestrian choreography, walking in circles and weaving around each other, before the first models emerged on an oval catwalk surrounding the sandy ring.

The winter 2026 collection continued the equestrian theme, with thigh-high riding boots, and suit trousers or jeans fashioned into stirrup pants and paired with bright preppy sweatshirts.

“There’s a lot of new innovations in the show,” Ms. McCartney told Reuters in an interview after the show. “Everything’s plant-based, vegan, so there are no animal glues, there’s no dead animals.

“That’s why I always like to sort of remind people and celebrate and bring animals into the conversation,” she added, saying the show also honored the Lunar New Year of the Horse.

Dresses and skirts covered in plastic-free sequins featured hip bustles, pleats and bows, while multicolored crochet scarves provided a pop of color to tailored suits.

Stella McCartney, founded 25 years ago, became fully independent once more last year after Ms. McCartney bought the minority stake held by LVMH back from the luxury group.

SAINT LAURENT
Saint Laurent presented a contrasting collection of oversized suits and delicate lace dresses for its winter collection on Tuesday at Paris Fashion Week. (Watch the show here: https://tinyurl.com/4kmrscr9)

The show opened with a string of power suits in black with large lapels and shoulder pads — evoking the tuxedo for women which French designer Yves Saint Laurent created in 1966 in a break with tradition.

See-through lace dresses and skirts in earthy tones of red, orange, and brown were paired with huge fur coats or balanced with chunky jewelry.

Saint Laurent, owned by struggling luxury group Kering, has suffered three years of declining revenue as a post-pandemic boom in spending on expensive handbags and clothes evaporated. Creative director Anthony Vaccarello, leading the brand since 2016, is credited with growing Saint Laurent’s revenue and reach.

DIOR
Dior creative director Jonathan Anderson showed floating flower-shaped dresses and heels decorated with water lilies for his first autumn/winter womenswear collection at the Parisian fashion house on Tuesday, as luxury conglomerate LVMH tries to breathe new life into the brand and revive sales. (Watch the show here: https://tinyurl.com/57v8tr6j)

Staged above an octagonal pond in Paris’ Tuileries gardens on a sunny spring day, the collection continued Mr. Anderson’s nature theme with ostrich feather trims on coats and the hem of one dress evoking a bunch of arum lilies. Jeans covered in silver sequins were paired with intricately ruffled shirts and jackets.

“This marks Jonathan Anderson’s fifth show for the house and his second for women’s ready-to-wear, and, for me, it is his strongest collection to date,” said Simon Longland, director of fashion buying at Harrods.

Alongside Louis Vuitton, Dior is a key pillar of LVMH’s fashion and leather goods business, and Bernstein analyst Luca Solca estimates the brand’s sales declined 6-8% last year.

Mr. Anderson, who previously led LVMH-owned Loewe for 11 years, has already made his mark on Dior, releasing a new take on Dior’s classic cotton canvas tote bags featuring stylized book titles, such as Bram Stoker’s Dracula and French classics Madame Bovary, Les Liaisons Dangereuses, and Bonjour Tristesse. Reuters

The bold next step for EDSA

HEAVY TRAFFIC builds up along EDSA at the corner of Roxas Boulevard. — PHILIPPINE STAR/RYAN BALDEMOR

EDSA has always been more than just a road. It is Metro Manila’s main artery, carrying millions of people daily as we head to work, to school, to take care of errands, and — at the end of each day — as we head home to our loved ones.

So, when we talk about rehabilitating EDSA, we need to look beyond simply improving the asphalt.

Conversations around improving mobility must now shift toward bolder action. As EDSA’s rehabilitation gets underway, this moment presents a rare opportunity to correct decades of inequitable road space allocation and ensure the corridor finally serves the majority of people who travel without private cars.

For too long, transport decisions have been guided by how to move vehicles faster, rather than how to move people better. The result is all too familiar: broken, narrow, or non-existent sidewalks, inconsistent bike lanes, difficult station access for public transport users, and private vehicles dominating limited road space.

A practical next step is clear: coordinated government action to expand sidewalks and bicycle lanes, and to provide better station access for the Busway and MRT.

This direction is consistent with President Ferdinand Marcos, Jr.’s call in his State of the Nation Address for safer, more inclusive infrastructure. This aligns with the priorities laid out in the Philippine Development Plan 2023-2028 to promote sustainable, people-centered mobility.

Improving infrastructure to prioritize active and public transport is not an untested theory. This has been proven around the world, in the cities we enjoy visiting — from Tokyo, Seoul, and Taipei, to Seville, Paris, and New York — cities have made a conscious decision to design and build streets that put people first.

Wider sidewalks and protected bike lanes are foundational elements of modern, people-centered transport systems. They make walking safer and more dignified, give cyclists protected space, and strengthen first- and last-mile connections to high-capacity public transport.

These upgrades would help move us toward a transport system that restores dignity to the daily commute of pedestrians, cyclists, and public transport users.

At its core, this is about fairness.

Most people who use EDSA do not drive. They walk, ride buses, bike, or transfer between modes. Yet much of the corridor’s design continues to prioritize private vehicles, which carry far fewer people while consuming far more space. Rebalancing EDSA is not anti-car. Instead, it promotes efficiency, safety, and commuter welfare.

While reallocating road space along a corridor as busy as EDSA can challenge long-held assumptions, we need to remember that the long-term efficiency of any corridor depends on how many people it moves, not how many vehicles it accommodates.

Global evidence consistently shows that cities investing in wider sidewalks and protected bike lanes see improvements in safety, mobility, and overall corridor performance. These changes reduce conflict points, encourage mode shift, and create more predictable travel conditions for everyone including motorists.

In other words, prioritizing people over vehicles leads to better outcomes across the board.

This matters even more in Metro Manila, where road space is finite, congestion is chronic, and transport demand continues to grow. We cannot build our way out of traffic by adding lanes for cars. What we can do is invest in infrastructure that supports walking, cycling, and public transport — modes that move the most people using the least space.

EDSA already offers proof of what is possible. The Busway has shown that dedicating road space to high-capacity public transport delivers real mobility gains. Expanding sidewalks and bike lanes builds on that success, creating a more complete and inclusive corridor.

Yes, change will come with short-term adjustments. But with traffic congestion getting progressively worse despite the number coding schemes, elevated crosswalks, and toll roads, isn’t it time to try something new? These long-term solutions, at least, have been shown to improve safety, accessibility, and quality of life for the millions of daily commuters and tourists in cities that have dared to try.

This is a moment for leadership.

EDSA’s rehabilitation should not be treated as routine maintenance. It should be embraced as a chance to rethink how our most important corridor works — and who it works for.

Let’s seize this opportunity to design streets that serve people first, strengthen public transport, protect vulnerable road users, and move Metro Manila toward a more livable future.

Because a truly modern city is not measured by how fast cars move, but by how well people live. 

 

Patricia Mariano is a director and co-founder of AltMobility PH, a group of urban transport experts advocating sensible and humane transport policies. For more information regarding their advocacy for #CommutersNaman, visit: linktr.ee/altmobilityph.

Aboitiz completes runway upgrades at Laguindingan airport

THE DEPARTURE ENTRANCE at Laguindingan International Airport (LIA) in Misamis Oriental. — ABOITIZ INFRACAPITAL, INC.

ABOITIZ InfraCapital, Inc. (AIC) has completed upgrades on most of the runway surfaces at Laguindingan International Airport, advancing its plan to enhance the facility’s overall infrastructure.

“As the operator of Laguindingan International Airport, we take a proactive approach to maintaining and improving critical airside infrastructure. These runway enhancements reflect our ongoing responsibility to ensure that the airport remains capable of supporting current operations while preparing for future demand,” AIC Vice-President and Head of Airports Rafael M. Aboitiz said in a media release on Sunday.

AIC, the infrastructure arm of the Aboitiz group, said the runway surface upgrades cover regular rehabilitation works, including runway repainting, rubber removal, and crack repair, which improve optimal runway surface conditions.

The airport operator said the maintenance works were carried out in coordination with aviation authorities to ensure compliance with national safety and operational standards.

“Sustaining airport infrastructure is an ongoing process that relies on cooperation between regulators and airport operators. Continued coordination across stakeholders helps ensure that facilities like Laguindingan International Airport remain well-maintained and capable of supporting the region’s growing connectivity needs,” said Civil Aviation Authority of the Philippines Director-General Raul L. Del Rosario.

These technical upgrades will enable smoother and safer takeoffs and landings, the company said, adding that they also make airport services more reliable.

Laguindingan International Airport logged 2.35 million passengers with three airlines in 2025.

The company officially took over the operations and maintenance of the airport in April 2025. It has committed to enhancing the airport to increase its capacity and improve its infrastructure.

For the first phase of the airport’s capacity expansion, AIC is working to raise the current capacity of 1.6 million passengers per year to 3.9 million, with plans to further scale it up to 6.3 million in the second phase.

The company has partnered with Ireland-based daa International for the upgrade and operation of Laguindingan International Airport. — Ashley Erika O. Jose

190 farm-to-market roads set for procurement in second quarter

PHILSTAR FILE PHOTO

THE DEPARTMENT of Agriculture (DA) said 190 farm-to-market road (FMR) projects are due to be offered for procurement in the second quarter.

“Procurement will start in the second quarter. The DA will jumpstart the implementation of around 190 projects nationwide,” Cristy Cecilia P. Polido, director of the Bureau of Agricultural and Fisheries Engineering (BAFE), told BusinessWorld via Viber.

This year, the DA is taking over the construction of FMR projects from the Department of Public Works and Highways (DPWH), with BAFE serving as the lead office for the program.

The DPWH was partly defunded because of the 2025 flood control corruption scandal, with FMRs taken away from it and the DA promising to build roads more attuned to farmer needs and more efficiently.

The FMR program was allocated P33 billion in the 2026 national budget to fund more than 1,600 projects, covering over 2,000 kilometers of roads.

With the takeover, the DA expects to accelerate project implementation and reduce the previously estimated cost of around P15 million per kilometer for a five-meter-wide FMR.

According to Administrative Order (AO) No. 4, signed by Agriculture Secretary Francisco P. Tiu Laurel, Jr. on March 6, the DA will identify priority FMR projects based on commodity roadmaps, the location of the majority of farmers and fisherfolk, and poverty rates.

Local government units (LGUs), community-based organizations, and farmers’ groups may also propose FMR projects, according to AO No. 4, a copy of which was obtained by BusinessWorld.

The order assigned FMR projects mainly to the BAFE and DA regional field offices, especially for high-impact commodity projects.

However, the DA may also enter into memoranda of agreement with the DPWH, qualified LGUs, other partners, or resort to public-private partnerships as authorized by the General Appropriations Act.

In cases where the DPWH implements the projects, it will be held to DA standards, specifications, costing, and technical guidelines.

“The DPWH shall utilize the FMR Transparency Portal to ensure transparency, accountability, and public access to project information,” according to the order.

LGUs will only be allowed to implement FMR projects if they demonstrate sufficient technical capability, financial capacity, administrative and legal compliance, and a commitment to sustainability.

“The LGU shall likewise provide 10% project counterpart funding, in cash or in kind, which may be utilized to fund expenses identified in the (memorandum of agreement),” the order read. — Vonn Andrei E. Villamiel

Bank of Makati looks to rebalance its loan book

FACEBOOK.COM/BANKOFMAKATIOFFICIAL

BANK OF MAKATI (A Savings Bank), Inc. plans to rebalance its loan portfolio this year by expanding its personal loan segment to reduce its reliance on car and motorcycle loans amid rising oil prices.

“If our target market is consumers, our concern is how rising oil prices will affect consumer spending, especially our motorcycle business,” Bank of Makati President Luis M. Chua told BusinessWorld last week.

The thrift bank’s loan book has traditionally been dominated by motorcycle financing, but the lender is now exploring ways to diversify its consumer lending products.

Mr. Chua said the bank is investing more in information technology this year as it prepares to offer digital personal loans through a mobile app.

The platform will allow borrowers to access personal loans that can be used for various purposes, including housing, vehicle purchases and other expenses.

“It’s basically capability-building,” he said, noting that the bank is upgrading its deposit and lending systems to support the mobile app and other digital banking services.

The upgrades are also aimed at expanding the bank’s lending capabilities beyond its core motorcycle financing business.

Mr. Chua added that the lender is refining its credit-scoring models as it works to improve its bad loan ratio.

“We are calibrating it to be consistent with our experience in the past year. That will improve our credit profile,” he said, adding that the bank also plans to become more aggressive in expanding its loan portfolio.

Despite concerns about economic growth and consumer sentiment, Mr. Chua said he still expects consumer lending demand to remain resilient.

Meanwhile, Bank of Makati said it is preparing to comply with the fraud management system and additional security requirements under the Anti-Financial Account Scamming Act , although Mr. Chua noted that many thrift banks are struggling to meet the deadline.

The Bangko Sentral ng Pilipinas (BSP) has given financial institutions until June 25 to implement enhanced fraud monitoring systems and introduce alternative security measures to one-time passwords.

Mr. Chua noted that while Bank of Makati is working to meet the requirements, many lenders in the thrift banking sector would prefer the deadline to be extended by at least a year.

He noted that from the banks he had spoken with, many are not yet ready.

He added that fraud management systems available in the local market remain costly for smaller lenders and might not fully suit the operational needs of thrift banks.

“For us, the offerings are still too expensive and the features do not necessarily match what we need,” he said. — Aaron Michael C. Sy

Hyundai Motor PHL gives 2 Elantras to PNP

From left are Hyundai Motor Philippines, Inc. (HMPH) Directing Coordinator for Sales and Dealer Network Development Seungjae Lee, HMPH Managing Director Cecil Capacete, HMPH President Jiho Son, PNP Chief of the Directorial Staff PMGen. Neri Vincent D. Ignacio, and PNP Director for Logistics PMGen. Martin E. Defensor, Jr. — PHOTO FROM HYUNDAI MOTOR PHILIPPINES

HYUNDAI MOTOR PHILIPPINES, INC. (HMPH) recently donated two Hyundai Elantra units to the Philippine National Police (PNP) in a ceremonial turnover attended by Acting Chief PNP PGen. Jose Melencio C. Nartatez, Director for Logistics PMGen. Martin E. Defensor, Jr., Deputy Director for Logistics PBGen Roel C. Rodolfo, members of the PNP Command Group, and other guests.

Representing HMPH were President Jiho Son and Managing Director Cecil Capacete, who reaffirmed the support of the company to the PNP in its thrust to enhance public safety and national security. “These Elantra patrol cars are purpose-built to support the PNP’s vital mission of protecting the nation. This handover reflects Hyundai’s belief that mobility should evolve with the needs of modern law enforcement,” said Mr. Son. “Hyundai is privileged to stand with the PNP as a partner in building safer and more progressive communities.”

The units turned over were an Elantra GL Std and Elantra HEV, which are modeled after the advanced systems used by the Korea National Police Agency. Equipped with the latest police technologies, the Hyundai Elantra patrol cars are designed to ensure efficient operations and the safety of police personnel in all situations.

The Elantra Hybrid Smart Patrol Car comes with surround cameras, radar-based speed detection, and an intelligent plate recognition system — tools that significantly enhance operational response. These innovations are aligned with Hyundai’s global vision of “Progress for Humanity,” demonstrating the brand’s dedication to meaningful contributions to peace and order nationwide.

For more information, visit https://www.hyundai.com/ph/en/hyundai-story/ or follow @HyundaiMotorPhilippines on Facebook and Instagram.

Fast fashion garments pile up as Iran war grounds planes

DHAKA — Shipments of garments for Zara owner Inditex and other major clothing retailers are stranded at airports in Bangladesh and India, according to three manufacturers, as the conflict in the Middle East forces airlines such as Emirates and Qatar Airways to cancel flights.

South Asia is a clothes manufacturing powerhouse and fast fashion brands around the world rely on factories in Bangladesh, India, and Pakistan for a constant stream of new T-shirts, dresses, and jeans.

“Some of my apparel consignments are currently stuck at Dhaka airport,” said Shovon Islam, managing director of manufacturer Sparrow Group, whose European clients include Inditex, M&S, Next, and Primark.

“They were supposed to be flown to the UK via Dubai, but with operations at Dubai airport suspended, we are now in a very difficult position. We’re trying to figure out alternative routes, but none of them are simple or cost-effective,” Mr. Islam added.

Most airspace in the Middle East is still closed since the conflict began, forcing the world’s busiest airport, Dubai, to shut down for several days with airlines including Qatar Airways, Emirates, and Etihad canceling many flights.

Much of South Asia relies on Gulf airlines to send cargo, usually in commercial flights with some cargo-only aircraft, said Frederic Horst, managing director at Trade and Transport Group in Sydney.

More than half of Bangladesh’s air cargo travels via the Gulf, he said, and 41% of India’s, with Emirates and Qatar Airways the most important carriers.

Inditex has 150 suppliers in Bangladesh, 122 in India, and 69 in Pakistan, according to its 2023 annual report. Its most recent annual report does not disclose country-specific supplier numbers. The company did not reply to Reuters’ questions about the disruption.

FREIGHT COSTS DOUBLE AS CAPACITY SHRINKS
As air capacity has reduced sharply, prices have shot up.

Alexander Nathani, managing partner at Mumbai-based Kira Leder, which produces leather jackets for Inditex and for Austrian retailers Cigno Nero, Fussl, and Wiedner, said freight charges to fly his products from Mumbai to Austria have doubled because of the cancellations.

“The whole freight capacity is being blocked now on the airlines that are flying, so prices are increasing,” Mr. Nathani said. “One consignment in Pakistan is stuck in the factory, and the other consignment from Mumbai is being accepted for Swiss Air on Monday — let’s hope they’re also flying and that it all goes.”

Asked about the disruption to shipments from South Asia, Primark, H&M and M&S said the majority of their shipments is made by sea. Next did not immediately reply to Reuters’ questions.

“The suspension of cargo flights due to airspace closures in the Middle East is already disrupting air shipments,” said Mohammad Hatem, president of the Bangladesh Knitwear Manufacturers and Exporters Association, adding that if the Strait of Hormuz, a key shipping channel separating Iran from Oman and the United Arab Emirates, remains closed, it will drive up the cost of sea transport, too.

“All in all, we are worried — we can see another major crisis ahead.” — Reuters

Meralco shares fall despite developments

MERALCO.COM.PH

By Abigail Marie P. Yraola, Deputy Research Head

MANILA ELECTRIC CO. (Meralco) shares dipped last week despite favorable developments concerning the power distributor and its position as one of the most traded stocks by value turnover.

Despite the week’s volatility, the movement signaled ongoing investor confidence, supported by the company’s earnings report.

From Feb. 27 to March 6, Meralco recorded a value turnover of P860.55 million from 1.40 million shares, making it the 11th most actively traded stock for the week, according to Philippine Stock Exchange (PSE) data.

Shares closed at P617 apiece on Friday, down 3.3% from a week earlier. The industrial index fell 4.8%, while the benchmark PSE index declined 4.4%.

Year to date, the Pangilinan-led company rose 7.5%, compared with a 4.3% gain in the industrial sector and a 4.4% increase in the PSE index.

Juan Alfonso G. Teodoro, equity trader at Timson Securities, said the slight downward trend reflected cautious market sentiment and some profit taking after earlier gains.

He added that trading activity was supported by key developments involving the company.

“Despite the pullback, the stock remained among the most actively traded by value as investors continued to focus on large-cap defensive companies with stable earnings and dividend income,” he said in a Viber message.

Aniceto K. Pangan, equity trader at Diversified Securities, Inc., noted that Meralco’s downtrend also reflects concerns over the ongoing Middle East crisis, which could bring prolonged economic and inflationary effects to the Philippines.

Recent company developments include a review of its fuel mix, which comprises liquefied natural gas, coal, and diesel. Shifts in global fuel prices driven by Middle East conflicts could affect electricity costs.

Meralco said that even if it does not source oil for its power supply, the Middle East conflict may indirectly impact electricity rates through upward inflationary pressure.

“If global prices of fuels such as liquefied natural gas, coal, and diesel increase due to geopolitical tensions, this could lead to higher generation charges and slightly higher electricity rates in the coming months,” Mr. Teodoro said.

He added that investors will likely monitor global fuel price movements, as these can influence short-term electricity costs for consumers.

Meralco is also awaiting a decision from the Energy Regulatory Commission (ERC) on its application to recover P7.98 billion in under-recoveries filed nearly three years ago.

In 2023, the company filed an application to recover P8.01 billion for generation, transmission, system losses, and pass-through taxes from January to December 2022. This would translate to an increase of about 21.91 centavos per kilowatt-hour (kWh) over a 12-month period.

Meralco also reported over-recoveries totaling P30.62 million from lifeline subsidies, senior citizen discounts, and local franchise taxes, equivalent to a refund of about 0.09 centavos per kWh to consumers.

“Investors think the approval is possible since these were legitimate expenses,” Mr. Teodoro said. He added that, if approved, electricity rates may marginally increase but are unlikely to significantly change consumption.

The company plans to fund its P247.14 billion capital expenditure program using a combination of cash, loans, and potential partnerships.

“Meralco expects around 3% growth in energy sales this year, which is generally seen as sustainable since electricity demand tends to grow steadily with economic activity and population growth,” Mr. Teodoro said.

He added that projected recovery in the next few quarters is primarily based on favorable weather, higher electricity usage during summer, and continued business and economic activity.

Meralco expects a 3% gain in energy sales volume for 2026, with flat growth in the first quarter and a recovery from the second quarter onward.

In 2025, Meralco’s net income rose 9.4% to P50.84 billion, while consolidated revenues grew 5.7% to P497.33 billion.

Mr. Teodoro said the company’s financial health remains solid, supported by stable cash flows from its regulated distribution business and consistent electricity demand. “Our Q1 2026 forecast for Meralco is approximately P13.52 billion,” he said.

Mr. Pangan described Meralco’s move to review its electricity supply amid rising fuel prices as a positive step to ease the burden on consumers.

“The under-recoveries are still under review by ERC. ERC will decide on how to apply this for consumers without creating a significant burden,” he said.

He added that the generation business contributed to Meralco’s growth in 2025, with an anticipated 3% increase in energy sales for 2026. He placed support at P600 per share and resistance at P640.

Mr. Teodoro described the developments as “fairly significant.”

“It also highlights Meralco’s advantage over other distribution utilities since it serves the country’s largest and most economically active areas, where electricity demand is typically stronger and more consistent,” he said.

He noted that traders and investors may consider Meralco a stable utility company with consistent earnings and dividends. “Our next resistance for Meralco would be around P640-650 per share. Current support would be around P610-600 per share, short-term.”

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., holds an interest in BusinessWorld through the Philippine Star Group, which it controls.

Kill, kill, kill!

A PROTESTER shouts slogans and wears a pendant with a map of Iran around his neck during the demonstration. Iranian diasporas in Madrid protest in Puerta del Sol, in support of the Iranian people, this comes a week after the start of the US and Israeli bombing of Iran, which resulted in the assassination of Iran’s Supreme Leader, Ayatollah Ali Khamenei. — REUTERS/LUIS SOTO/SOPA IMAGES

“We’re going to kill them. They’re going to be, like — dead.” US President Donald Trump said to a group of reporters at a White House presscon. “I don’t think we’re necessarily going to ask for a declaration of war. I think we’re just gonna kill people that are bringing drugs into our country,” he said, according to nbcnews.com in October last year.

NBC News reported that members of Congress had become concerned over a lack of information from the administration about the intelligence and strategy behind strikes on alleged drug smuggling boats. The US had fired on suspected drug vessels in the Caribbean and Pacific Ocean since early September, killing nearly 40 people, Reuters reported.

Mexico’s President Claudia Sheinbaum and Colombian President Gustavo Petro decried the strikes. “All the same, it is murder,” Mr. Petro said. “Whether it be in the Caribbean or the Pacific, the US government’s strategy violates the norms of international law.” Amnesty International opposes missile strikes in the Caribbean.

But to talk about killing has been Trump’s branding, even when he was running for president against Hillary Clinton in 2016. “I could stand in the middle of 5th Avenue and shoot somebody and I wouldn’t lose voters,” Trump said at a campaign rally in Idaho. Trump had joked about killing people before, CNN noted (Jan. 24, 2016).

Trump made statements condoning and encouraging violence throughout his presidency, an Axios commentary bared. During a speech to law enforcement officers in Long Island, New York, he seemingly encouraged police officers to be rough with people they were arresting, per ABC News. “Please don’t be too nice,” he said. While speaking at a Montana campaign rally, he publicly praised Montana’s Congressman Greg Gianforte (R) for assaulting a reporter. “Any guy that can do a body slam, he is my type!” Trump said. A New York Times report outlined “various strategies Trump had allegedly deliberated to keep migrants away from the US southern border, including a water-filled trench with snakes or alligators and shooting migrants in the legs to slow them down.”

President Trump ran for reelection in 2024 vowing to “carry out the largest deportation operation in American history.” Less than 14% of nearly 400,000 immigrants arrested by Immigration and Customs Enforcement (ICE) in President Trump’s first year back in the White House had charges or convictions for violent criminal offenses, according to an internal Department of Homeland Security document obtained by CBS News. The Guardian reviewed figures from ICE and Customs Border Protection (CBP) since Trump’s 2nd inauguration. Total arrests: 397,880; people currently in detention: 68,290; total deportations: 396,400 — all as of Feb. 13.

For all his to-the-death guarding of US borders, Trump breached the borders of another country, Iran, and broke international law to kill off its leaders, and its people. The BBC quoted him as saying, “Our objective is to defend the American people by eliminating imminent threats from the Iranian regime, a vicious group of very hard, terrible people. Its menacing activities directly endanger the United States, our troops, our bases overseas, and our allies throughout the world.”

The obsession seems to be to kill, kill, kill.

“On 28 February 2026, Israel and the United States began a series of strikes against Iran targeting the country’s leadership, security forces and nuclear program and missile sites. They said they aimed to induce regime change in Iran and to address concerns regarding its nuclear program. The strikes are reported to have caused both military and civilian casualties in Iran” (commonslibrary.parliament.uk). Seven days after the US and Israel began attacking Iran, explosions continue to be heard in Iran, Israel, and across several Middle Eastern countries.

Ayatollah Ali Khamenei, Iran’s Supreme Leader who led the country since 1989, was killed during the first wave of strikes. Israel said dozens more senior figures in the powerful Islamic Revolution Guard Corps (IRGC) were also killed, according to the BBC. US forces have struck nearly 2,000 targets in Iran since Saturday, the US Central Command (CENTCOM) said last week.

The IRGC says it has launched attacks on at least 27 bases in the Middle East where US troops are deployed, as well as Israeli military facilities in Tel Aviv and other parts of Israel. So far, Iran has launched strikes across nine countries in the region: Bahrain, Iraq, Jordan, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. An Iranian drone also struck a runway at a UK military base in Cyprus.

Casualties as of March 5 (from commonslibrary.parliament,uk): Iran, 1,332 killed; Israel, 11; US soldiers, six; Bahrain, one; Iraq, two; United Arab Emirates, three; Kuwait, four; Lebanon, 123; Oman, one; Jordan, no deaths but five injured; Qatar, no deaths, but 16 injured; Saudi Arabia, not deaths or injuries.

“And sadly, there will likely be more (deaths) before it ends,” Trump said, before adding: “That’s the way it is. Likely be more,” according to CNN.

The end does not justify the means. Killing innocent civilians, or those accused but not yet proven guilty, or even soldiers not in combat, cannot be justified in the universal morality of human co-existence. Human rights are all based on the right to live, peacefully.

DUTERTE
Human Rights Watch described former President Rodrigo R. Duterte’s alleged human rights crimes thus: “Since taking office on June 30, 2016, Duterte has carried out a ‘war on drugs’ that has led to the deaths of over 12,000 Filipinos to date, mostly urban poor. At least 2,555 of the killings have been attributed to the Philippine National Police. Duterte and other senior officials have instigated and incited the killings in a campaign that could amount to crimes against humanity.”

Duterte was arrested on March 11, 2025, by local authorities in Manila following an arrest warrant issued by the International Criminal Court (ICC) on March 7. He is now detained in The Hague, Netherlands, awaiting trial.

Rewind to Aug. 2, 2021, when Duterte blasted the ICC whose prosecutors wanted to launch a full-blown investigation into the drug war: “You know, if you really want me — it’s over my dead body. You will only be able to take me to the Netherlands dead. You will have a carcass. I will not go there alive, you fools. But if I see you here, I will have made the first move,” he threatened (AFP/Philstar.com, June 28, 2022).

Other Duterte “kill, kill, kill” quotes (ibid.):

“Hitler massacred three million Jews. Now there are three million drug addicts (in the Philippines). I’d be happy to slaughter them.”

“If you know of any addicts, go ahead and kill them yourself as getting their parents to do it would be too painful.”

“My orders are to the police and military, also village officials, that if there is trouble or the situation arises that people fight and your lives are on the line, shoot them dead.”

“Just because you’re a journalist you are not exempted from assassination, if you’re a son of a bitch.”

Rodrigo Duterte has admitted killing suspected criminals during his time as mayor of Davao City, CNN news noted in a December 2016 article, citing Duterte’s crass “braggadocio” about wanting to kill, kill, kill: “In Davao, I used to do it personally. Just to show the guys that, if I can do it, why can’t you?’ Duterte said. ‘And (I’d) go around Davao with a motorcycle, with a big bike around and I would just patrol the streets and looking for trouble also. I was really looking for an encounter so I could kill.’”

He made those remarks at the Wallace Business Forum in Manila on Dec. 12, 2016, according to the CNN article. Since taking power in June, Duterte waged a brutal “war on drugs” that was linked to more than 5,900 deaths in less than six months, CNN said.

On Sept. 27, 2018, during a speech before government executives, Duterte said, “Ang kasalanan ko lang, ’yung mga extrajudicial killing (My only sin is the extrajudicial killings).” He also threatened to “hit the head” of the ICC prosecutor.

Duterte’s then spokesperson, Harry Roque, later clarified that the President was “not serious” and was only being “playful,” and that what he meant to say was that extrajudicial killings are the only issue his administration is being accused of. (amnesty.ca, Sept. 28, 2018).

The death toll from the government’s “war on drugs” from July 1, 2016 to Aug. 31, 2018 stands at 4,854, according to government figures. Human rights groups, however, say the actual number could be up to three times this figure (Ibid.).

In 2018, the Senate commenced a serious inquiry into Duterte’s extrajudicial killings (EJKs) and his open admission of authoring and accomplishing them. In a Sept. 28 press release, Akbayan Senator Risa Hontiveros posted, “Duterte will have to pay wages of his sin of extrajudicial killings.” Duterte’s public admission of having sinned over rampant EJKs points to three important things:

1. it confirms the existence of Duterte’s EJKs

2. It establishes the President’s accountability for the killing

3. it serves as evidence in the pursuit of justice.

“Truly, a fish is caught by its mouth and a foul man by his deeds,” Ms. Hontiveros said. “President Duterte is the best witness against himself. By admitting to the extrajudicial killings, he owned full responsibility and accountability for countless cases of killings in our country. Sooner or later, President Duterte will have to pay the wages of his sin of extrajudicial killings” (translated to English from Pilipino).

“Kill, kill, kill” can never be considered playful “hyperbole” — not for Duterte, not for Trump, not for anybody who is in his/her normal mind, who knows killing is immoral and criminal. Only God gives life and takes life.

“Who is this stupid God? This son of a whore is really stupid in that sense. You created something perfect and then you think of an event that would tempt and destroy the quality of your work,” Duterte once said. But let not the alibi of insanity save him from the ICC charges of crimes against humanity.

 

Amelia H. C. Ylagan is a doctor of Business Administration from the University of the Philippines.

ahcylagan@yahoo.com

Fertilizer suppliers probed over quality concerns

ATLASFERTILIZER.COM

THE DEPARTMENT of Agriculture (DA) said it has launched an investigation into several fertilizer suppliers with government contracts and suspended the release of their products following reports of substandard quality.

In a statement on Sunday, the DA said Agriculture Secretary Francisco P. Tiu Laurel, Jr. directed procurement and warehouse officials on March 5 to halt the distribution of fertilizer from several suppliers while the DA and the Fertilizer and Pesticide Authority (FPA) undertake a full review of the products.

The DA said the investigation targets suppliers flagged in preliminary FPA quality tests, including Agri‑Victorious Trading Corp., DQB Green Agricultural Products Trading, Valap Inc., Dos Asia Chemical Trading Corp., and Rova Fertilizer Manufacturing.

“We agreed to pay the price they bid, yet they delivered substandard products. That is highway robbery, and we will not allow it. They have no shame,” Mr. Laurel was quoted as saying in a statement.

According to the DA, no stocks from the identified suppliers may be released, distributed, or utilized until the review is concluded and formal clearance is issued by the Office of the Secretary.

DA personnel were also ordered to submit reports on pending deliveries, ongoing transactions, and other documentation to aid the assessment, the DA said. — Vonn Andrei E. Villamiel

Security Bank taps VeritasPay for MSME payment solutions

SECURITY BANK/BW FILE PHOTO

SECURITY BANK CORP. has partnered with VeritasPay Philippines, Inc. to expand digital payment options for its micro, small and medium enterprise (MSME) clients.

“MSMEs need simple and reliable ways to accept digital payments as customer behavior continues to evolve,” Security Bank Senior Vice-President and Business Banking Head John David Yap said in a statement on Sunday. “Through our partnership with VeritasPay, we are helping our clients adopt modern payment solutions that allow them to serve customers better and operate more efficiently.”

Under the partnership, the bank’s MSME clients will be able to access VeritasPay’s point-of-sale (POS) terminals at preferential rates through a referral program.

The listed lender said the collaboration falls under its Beyond Banking Partnership program, an initiative of its business banking segment that aims to support MSMEs through solutions and partnerships that go beyond traditional financing.

VeritasPay’s POS platform includes a merchant dashboard that offers real-time visibility of transactions and simplified daily payment reconciliation, helping business owners manage collections and monitor cash flow.

“Beyond financing, businesses today need tools that help them manage everyday operations,” Security Bank First Vice President Leo Xerxes C. Cimagala said. “By connecting our clients to VeritasPay’s POS solutions, we’re helping them streamline collections, improve cash flow visibility, and operate more efficiently.”

Security Bank’s BusinessPlus accountholders will also get exclusive discounts on VeritasPay POS terminals, including a 5% discount for one-time purchases and a 10% discount for monthly leasing options on eligible devices.

Christopher James Payne, president and chief executive officer at VeritasPay, said the partnership marks the beginning of a long-term collaboration aimed at supporting merchants with advanced payment solutions and improved services.

Security Bank reported a 3% increase in net income to P11.63 billion last year, supported by stronger revenue despite higher loan-loss provisions. — Aaron Michael C. Sy

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