US sanctions Mexican cartel figures, including popular rapper El Makabelico

August 8, 2025 | 12:02 am

El-Chisquiado-by-El-Makabelico — MUSIC.AMAZON.COM

THE US Treasury Department on Wednesday announced sanctions on assets of four individuals whom it linked to Mexico-based Cartel del Noreste, including the popular hip-hop artist El Makabelico.

Treasury said the sanctions target three “high-ranking members” of Cartel del Noreste (Northeast Cartel), which splintered off from Los Zetas, as well as a “prominent associate” of the group, Ricardo Hernandez, a 34-year-old musician known as El Makabelico who has millions of followers on social media.

Treasury said El Makabelico’s concerts and events are used to launder money on behalf of the organization, “with 50% of his royalties from streaming platforms going directly to the group.”

A Spotify spokesperson said the company was reviewing the decision and would comply with its legal obligations. Apple and Alphabet-owned YouTube did not immediately respond to requests for comment.

DEL Records, which Hernandez lists as his label on social media, did not immediately respond to a request for comment.

Treasury identified the three other individuals as Abdon Rodriguez, Antonio Romero and Francisco Esqueda.

Washington said the sanctioned individuals have played a critical role in the cartel’s activities, including drug trafficking, extortion, and money laundering.

The Treasury said it had also sanctioned two “high-ranking members” of the cartel in May.

The cartel was among those that President Donald J. Trump’s administration in February designated as global terrorist organizations.

“The Treasury Department will continue to be relentless in its effort to put America First by targeting terrorist drug cartels. These cartels poison Americans with fentanyl and conduct human smuggling operations along our southwest border,” said US Treasury Secretary Scott Bessent.

The Cartel del Noreste is considered one of Mexico’s most violent drug trafficking organizations and wields significant influence along the US-Mexico border, particularly at Laredo, Texas, the Treasury said. — Reuters

Agila Subic eyes expansion as tenants scale up operations

August 8, 2025 | 12:02 am

SUBIC, ZAMBALES — Agila Subic, a Cerberus-run industrial facility in Subic, is open to expanding its site by up to 50 hectares to meet operational requirements of existing tenants, its top official said on Thursday.

The 310-hectare facility may add piers or develop land for tenant use, subject to approval from the Subic Bay Metropolitan Authority and depending on demand, Agila Subic General Manager Mark Glenn D. Milan said in an interview with BusinessWorld.

“It depends on the development of how we see the requirements of our current tenants, but we have additional space that we see could be used for additional facilities,” he said.

“That is part of our capacities on the site to optimize the use of the facility,” he added.

US investment firm Cerberus took control of the facility in 2022 and renamed it Agila Subic Facility after the collapse of Hanjin Heavy Industries and Construction-Philippines, Inc. in 2019.

South Korean shipbuilder HD Hyundai Heavy Industries, the Philippine Navy, global subsea cable firm SubCom, and logistics provider V2X currently lease portions of the Agila Subic Facility under agreements ranging from eight to 15 years, Mr. Milan said.

The three private companies share 220 hectares of the area, with the remaining 90 hectares being rented to the Philippine Navy, he added.

“They’re still in the aspect of settling in,” he said, adding that once the lessees are fully established, they’ll be in a better position to assess whether they need more space. “We need to be ready for that.”

Agila Subic expects its tenants to seek ways to enhance operations and maximize the use of leased land, he added. “They have to continually improve their capacities to increase the business opportunity for them to use the land.”

“When we lease out space, we don’t lease it like it’s just an office… With us, it’s the whole facility, tailored to the operational requirements of the company,” he said.

Mr. Milan said Agila Subic and its tenants have collectively invested around $1 billion to upgrade and modernize the shipyard.

“That covers everything already from the initial investment condition to the capital expenditures that it would like to have to support the improvements of the facilities, and then the continuing renovations and improvements that our tenants will need for them to operationalize the business,” he said. — Kenneth Christiane L. Basilio

UA&P unions file strike notice

August 8, 2025 | 12:02 am

UNIONS at the University of Asia and the Pacific (UA&P) filed a notice of strike on Thursday with the Department of Labor and Employment (DoLE) following fourth months of collective bargaining.

“This decision comes after UA&P Management failed to provide the unions any non-negotiable concessions for mediation to continue,” the University of Asia and the Pacific Union of Faculty Members (UA&PUFM) and University of Asia and the Pacific Union of Allied Employees (UA&PUAE) said in a statement.

UA&P was contacted by e-mail for comment but had not replied at the deadline.

UA&PUFM President Ferdinand D. Delos Reyes said that collective bargaining began in May but the university had not addressed key points of negotiation like salaries and benefits.

“They were no longer giving in to our demands. So, basically, we said that there’s no point proceeding with CBA negotiations,” Mr. Delos Reyes said by telephone.

Mr. Delos Reyes said the deadlock centered on seven priority economic provisions and the suspension of a policy requiring faculty to work onsite for 5.5 days each week.

The unions said that the announcement of a full onsite work schedule added to the economic burden on employees.

He said university workers have been seeking upgrades to salary and a promotion system in line with industry standards.

“We’re also of course asking for improvements in terms of our fringe benefits. Part of what we’re proposing is an expansion of our HMO coverage to also include our dependents. We’re also asking for improvements in terms of our rice allowance,” Mr. Delos Reyes said.

According to the Labor Code, a strike arising from a collective bargaining deadlock may take place 30 days following the filing of notice and following a strike approved by an absolute majority of union members. The actual strike may occur seven days after notifying DoLE’s National Conciliation and Mediation Board.

“We had a bargaining deadlock around June. And then after that, just to exhaust all our remedies, we filed a petition for preventive mediation where we appeared before a DoLE mediator,” he added.

The unions said that they remain open to resuming talks once they receive a “genuine counteroffer” on their priority issues and the suspension of the University’s onsite work policy. — Adrian H. Halili

Sea turtles aren’t the only victims of plastic

August 8, 2025 | 12:02 am

sea-turtle-swimming-through-plastic-pollution-ocean-THUMB — STOCK PHOTO | Image from Freepik

By Lara Williams

HERE’S A FACT that might make you feel a little strange inside: You and I have plastic in our brains. Tiny particles of polymers are also hanging about in our livers, kidneys, heart, and bloodstream. If that doesn’t make your insides itch, consider that in just eight years, scientists have observed an increase in the amount of bodily plastic. A study published in Nature compared post-mortem organ samples from 2016 and 2024 autopsy specimens. The more recent cadavers had far higher concentrations in the liver and brain.

You might wonder if it matters if we are all steadily becoming part-plastic (even a newborn baby contains plastic these days). What harm could such tiny particles do? Akin to climate change’s image of a polar bear on a lone ice float, the poster children of the plastic crisis thus far have been marine creatures choking on straws and carrier bags. These images are emotive but have kept the issue at arm’s length — a problem for the deep sea. In reality, it’s so much worse than you thought.

The Lancet, a peer-reviewed medical journal, has laid out the problem definitively, calling plastics a “grave, growing and under-recognized danger” in a paper published this week launching a global monitoring system to track progress on mitigating the harms.

Plastics are certainly useful. Their development has supported advances in fields such as medicine, engineering, and electronics. They’ve allowed us to make sterile, single-use catheters and syringes, which reduce the risk of infection. They’re lightweight, making cars and other vehicles more fuel efficient. And they make insulating and housing electronics safer. Because the costs to the environment and human health are externalized, the material is cheap — allowing us all to access the convenience of a takeaway coffee or affordable clothing.

But we’re making the problem so much worse with our addiction to these non-biodegradable polymers. Global annual plastic production has soared to 475 million metric tons in 2022 from just 2 million tons in 1950. Half of all the plastic ever made has been produced since 2010 and, without intervention, we’re likely to be making 1.2 billion tons of the stuff every year by 2060. Because plastics don’t break down — they simply fragment into smaller and smaller particles — that’s billions of tons we’ll be adding to our ecosystems, waters, and bodies.

There are many ways plastic is bad for us. More than 16,000 chemicals can be present in plastics such as flame retardants, per- and polyfluoroalkyl substances (PFAS) and phthalates. Health impacts from exposure to such chemicals are wide-ranging and occur at every age, from miscarriages and reduced birthweight to cardiovascular disease and cancer. What’s worse is that hazard data isn’t available publicly for more than two-thirds of known plastic chemicals, meaning we have no idea how they could be harming us.

As well as tainting us with chemicals, the tiny fragments of the polymers — micro- and nano-plastics — are accumulating in our bodies, bypassing our built-in protective mechanisms such as the blood-brain barrier and placenta. Research is in the early stages, but already links have been suggested between microplastics and lung disease, inflammatory bowel disease and strokes, among other conditions.

Then there are some near-bizarre unintended health consequences. Who would have guessed, for instance, that plastic waste would contribute to the increasing spread of vector-borne diseases such as dengue and Zika, by providing favorable environments for Aedes mosquitos to lay their eggs? Likewise, a study from the University of Exeter and Plymouth Marine Laboratory found numerous links between plastic and antimicrobial resistance. Spills of crude oil, the starting point for many types of plastic, have been found to help bacteria become resistant to antibiotics, a process augmented by the chemicals added to plastic, such as bisphenols and phthalates.

Knowing all of this, people are attempting to limit their plastic exposure. Actor Orlando Bloom even splashed out $13,000 on an experimental blood-cleansing treatment. But honestly, it’s futile.

This morning, I went for a run. Everything from my sports bra to my shoes was made of a mix of synthetic materials including polyester and nylon. Afterwards, I squeezed toothpaste from a polyethylene tube. I cycled to work, inhaling microplastics formed by tire wear and road erosion. I’ve not been nearly organized enough to meal prep, so I’ll pop out to buy lunch, which will likely involve some single-use plastic. Later, I might have a cup of tea, and the bag will have plastic in it. That’s likely a fraction of the plastic I’m exposed to on a daily basis. Some of these things are within my control, but living a truly plastic-free life in our modern world is impossible.

Nations are currently hashing out a global plastics treaty in Geneva, Switzerland, after failing to reach an agreement in Busan, South Korea, last year. It’s imperative that they leave with strong legally binding commitments to tackle the problem.

Sadly, we’re not starting from a promising place: In Busan, nations split into two coalitions — a high-ambition group which advocates for phasing out harmful plastics and chemicals, and a coalition of oil-producing countries such as Russia and Saudi Arabia who want the treaty to focus on waste management and recycling. Each side became so entrenched that delegates couldn’t even agree on voting rules.

A strong treaty should impose limits on plastic production, regulate the use of hazardous chemicals within plastic, phase out single-use products and commit to improving recycling and waste management. It should also recognize the multitude of adverse health impacts that the production, use and disposal of polymers are having on us.

After all, plastic pollution doesn’t just threaten sea turtles. It’s also a clear and present danger to human health.

BLOOMBERG OPINION

Dominion Holdings net income down in Q2

August 8, 2025 | 12:01 am

DOMINION HOLDINGS, Inc. (DHI) saw its net income decline by 40.08% in the second quarter due to lower funds available for investment.

The company booked a net income of P35.13 million in the period, dropping from P58.62 million a year prior, it said in a disclosure to the stock exchange on Thursday.

This brought its net income for the first semester to P71.26 million, down by 47.01% from P134.484 million a year ago.

“The decline was mainly due to the reduction in investable funds following the declaration of P3.2 billion in cash dividends in May 2024, as well as a lower interest rate environment,” DHI said.

Return on average equity was at 4.32% at end-June, down from 5.66% in the same period last year.

“The company continues to reinvest earnings from its investments, resulting in growth in total assets, which increased to P3.4 billion as of June 2025 from P3.3 billion in June 2024,” DHI said.

“Stockholders’ equity also rose to P3.4 billion, up from P3.3 billion, reflecting the reinvestment of earnings back into the company. Total liabilities remained minimal at P10.8 million.”

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

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

DHI shares rose by six centavos or 5.08% to close at P1.24 each on Thursday. — A.M.C. Sy

P-pop girl group FINIX ramps up pre-debut activities

August 8, 2025 | 12:01 am

FOLLOWING the release of their pre-debut EP Thirsty in June, P-pop girl group FINIX (pronounced “phoenix”) has been increasing their live performances and meet-and-greet appearances, as part of their goal to reach P-pop stardom.

On Aug. 6, FINIX members Aki, Cole, Minhea, Rikka, R-Lo, Tris, and Zia told the press about their aspirations as a proudly Filipino girl group.

“We hope for women out there to see us and hear our music and say that, ‘Oh, I look just like her; I can do that as well and be whoever I want,’” said Aki.

“Nobody is trying to fit us in a box. Nobody is trying to mold us into these dolls, and we’re eternally grateful for that. That’s a big, big part of the message that we’re trying to give out,” she added.

FINIX is under the Wisconsin-based label GKD Records, which started last year after its co-founders, Joshua Stephany and Lucas Webb, discovered Filipino music.

“We found that P-pop was where K-pop was at in the 2009 to 2013 era — full of talent but lacking in infrastructure, especially in music production,” said Mr. Stephany at the press conference.

He explained that he and Mr. Webb started off reacting to K-pop acts and eventually P-pop acts on their YouTube channel. “We got so much love and support from people who loved our conversations about music, and we really wanted to just give that back and build something long-lasting, so we went all in,” he said.

For Mr. Stephany, their role is not that of “foreigners trying to take over,” but as “music professionals investing in something they truly believe in.”

In May last year, they held a round of auditions to start a group, from which they found original members Aki and Rikka. After that, they held the Finding Finix reality show, available to watch on YouTube, to complete the other five slots.

At the recent press conference, the women were clad in an array of black and green camo streetwear, all designed by Rikka, as part of their signature edgy aesthetic. They performed their three singles so far: “Thirsty,” “Sumugal Sa Akin,” and “Click Click Boom.”

Mr. Stephany and Mr. Webb said that after two years of intensive K-pop-style training and music production, FINIX is set for stardom, even while still on their pre-debut journey.

“There will be 27 more new songs to be released by FINIX over the next nine months. That’s two EPs, two full albums, and a few more singles to give them just a little bit more than 31 songs in their first year of debut, representing the largest debut for a P-pop act ever,” they said.

The women teased some of the things their fans can expect from them. FINIX’s songwriters, Zia and Cole, said they want to convey through their music the themes of “women empowerment, fearlessness, love, and mental health.”

“On the music side of things, expect us to dabble in a lot of genres,” said Zia. Meanwhile, Tris said that one of the group’s main influences for dancing is the British girl group Little Mix.

FINIX is also a symbol of rebirth for the women, with many of them coming from unconventional backgrounds. For example, Minhea from Bataan used to sell vegetables at a wet market while R-Lo, who is from California, used to work odd jobs — until they auditioned for Finding Finix and joined the bootcamp with the other women.

Aki explained that they are now working hard to live their dream: “Everyone’s settled in and we now live together. Skills are very important, but what’s crucial for us is the team building.” — Brontë H. Lacsamana

Hyper Dynamic hikes stake in Jollibee Foods Corp. to 43.27%

August 8, 2025 | 12:01 am

HYPER DYNAMIC Corp. has increased its stake in listed fastfood giant Jollibee Foods Corp. (JFC) to 43.27%.

Hyper Dynamic acquired 25,000 JFC shares through five separate transactions on Aug. 6, JFC said in a regulatory filing on Thursday.

According to JFC, Hyper Dynamic bought 8,000 shares at P216 per share; 2,000 shares at P216.80 per share; 6,000 shares at P217.20 per share; 6,000 shares at P217.40 per share; and 3,000 shares at P217.60 per share.

Following the acquisition, Hyper Dynamic now owns 484.93 million JFC shares, equivalent to a 43.27% stake.

Hyper Dynamic is an affiliate of JFC.

In 2021, JFC founders led by Chairman Tony Tan Caktiong consolidated a large portion of their JFC shares into Hyper Dynamic.

JFC shares rose by 0.65% or P1.40 to P217.40 per share on Thursday. — Revin Mikhael D. Ochave

What to do with a union-recommended HMO

August 8, 2025 | 12:01 am

Our employees’ union strongly recommends a specific Health Maintenance Organization (HMO). The union cites its stellar reputation, extensive hospital network, and quick claims processing. While open bidding remains an option, we are worried that the union may not accept the result. What can we do? — White Lotus.

Stop worrying. Give the union the chance to justify its recommendation within the framework of an open bidding process. Respect its recommendation without airing any suspicions that it may have been “captured” by the HMO.

But first things first. Review the specific provisions of your Collective Bargaining Agreement (CBA) and be guided by them. Does the CBA specify employee coverage to be any amount or percentage? Whatever the case, I’m sure it will contains certain budgetary limitations.

The union plays an important role in advocating for employee needs, but you must also be aware that, at times, they exceed their boundaries while defeating the letter and spirit of the CBA, wreaking havoc on the company’s financial strategy.

It could be that the HMO the union is pushing for does, in fact, have an excellent reputation, extensive hospital network, and a reputation for quick claims processing. This is true for other HMOs. To find the truth, your organization must answer the following questions:

Should it give in to union pressure? How do you ensure fairness while safeguarding the company’s bottom line?

TRANSPARENCY
The solution lies in building a transparent and competitive bidding process. It’s the best you can do under the circumstances. It eliminates the suspicion of favoritism or backroom deals, not only with the union but also with management. An open bidding is the objective, and all HMOs must be evaluated by the same criteria.

One, publication of objective criteria. The bidding standards must include cost, hospital network, customer service, and average turnaround for claims, as attested by reputable hospitals. The requirements may be drawn up by a joint committee composed of union and management representatives.

Two, competitive pricing. This can be achieved by detailed terms of reference. When HMOs know they are competing openly, they’re more inclined to put in their best bid by offering not just lower premiums, but also improved coverage or providing additional perks.

Three, public announcement of bidding invitation. The platforms for making such an announcement could include the company’s website, industry bulletin boards, employee word-of-mouth, social media, and traditional media, assuming there is a budget for it. The notice must include the project name, deadline for submission, budget range, and other qualifications that bidders must meet.

Four, ensure participation of qualified providers. In addition to making a public announcement, invite all reputable HMO providers in your region. A broad invitation ensures you have a healthy range of offers to compare. When everyone sees the process firsthand, it fosters trust and makes them part of the solution.

Five, strengthen your negotiating position. If the union’s preferred HMO turns out to be more expensive, you now have objective evidence to select another winner. More importantly, do not give the union-backed HMO the option to match competitors’ rates. This defeats the purpose of having an open bidding.

Six, value-for-money coverage. Ensure that the evaluation criteria assign appropriate weight to wide coverage and service quality, and not just price. Sometimes the cheapest HMO might fall short on key hospital tie-ups, while the most expensive one offers features that employees don’t need.

Seven, document and communicate the results. Once a winner is selected, prepare a summary report of all bids, showing why the chosen provider offers the best balance of coverage and cost. Share this with both management and the union to ensure full transparency.

HYBRID SOLUTIONS
Even after an open bidding, there’s a possibility that the union and some employees may still prefer a more expensive HMO. If that happens, consider certain hybrid solutions like the following:

One, a two-tier HMO plan. This means awarding the bid to the winning HMO for all covered employees with the company covering the winning HMO’s premium. At the same time, allow certain employees who prefer the union’s HMO to pay the premium difference via salary deduction.

Two, voluntary top-up plans. Employees contribute a portion to get the additional benefits they want, without burdening the company with the full cost. This way, employees have a choice without the company overspending.

Communication is key. Aim for turning perceptions around from rejecting the union’s choice to a collaborative process to find a best-for-all solution.

Employees want to feel cared for. When you conduct a transparent, competitive process, you’re not just saving the company money — you’re building trust. By involving the union, documenting every step, and offering flexible options, you turn what could be a contentious process into a win-win scenario.

Ask questions and receive Rey Elbo’s insights for free. E-mail elbonomics@gmail.com or DM him on Facebook, LinkedIn, X, or via https://reyelbo.com. Anonymity is guaranteed.

End-June 2025 Gov’t debt-to-GDP ratio climbs to 63.1%, highest since 2005

August 8, 2025 | 12:01 am

THE National Government’s (NG) debt as a share of gross domestic product (GDP) rose to 63.1% at the end of June, the highest ratio since 2005, the Bureau of the Treasury reported on Thursday. Read the full story.

World Athletics’ mandatory genetic test for women athletes is misguided. I should know — I discovered the relevant gene in 1990

August 8, 2025 | 12:01 am

dna-microscopic-view — STOCK PHOTO | Image by Kjpargeter from Freepik

World Athletics president Sebastian Coe recently announced a new rule for women athletes, requiring mandatory genetic tests to verify their biological sex.

This test must be done if athletes wish to compete in September’s World Athletics Championships in Tokyo.

World Athletics has said all athletes competing as women must have an SRY gene test to identify whether a male Y chromosome is present. As the SRY gene is found on the Y chromosome, it is effectively a proxy for the Y chromosome.

Any athlete whose test shows the presence of the SRY gene will be banned from competing in the women’s category in elite events. However if the athlete has a condition called Complete Androgen Insensitivity Syndrome (CAIS), they may be able to qualify for an exemption.

Coe said the decision was made to ensure “the integrity of women’s sport” with World Athletics asserting: “The SRY gene is a reliable proxy for determining biological sex.”

I argue the science does not support this overly simplistic assertion.

I should know, because I discovered the SRY gene on the human Y chromosome in 1990. For 35 years I have been researching it and other genes required for testis development.

A BRIEF PRIMER ON TESTES AND OVARY DEVELOPMENT
If a human embryo has XY chromosomes, then at six weeks of development the SRY gene on the Y chromosome triggers a cascade of events involving some 30 different genes that lead to the formation of testes.

In simplest terms, the testes then produce hormones including testosterone, leading to male development.

However, if an embryo has XX chromosomes, a whole different group of genes come into play, ovaries form, and the hormones produced result in a female.

We know making testes or ovaries requires a complex network of many interacting genes and proteins.

Some genes promote testis development while others promote ovary development.

Other genes either suppress ovary formation or antagonize testis formation.

Even once ovaries or testes are fully formed, we require other genes to maintain them. These genes don’t always function as expected, affecting the development of these organs.

HOW DOES THIS RELATE TO SEX TESTING OF ELITE WOMEN ATHLETES?
Changes or variants in the many genes that regulate the development of a testis or ovary can result in sex reversal or a non-functioning testis or ovary.

What do I mean by this?

If there is a change in the SRY gene so it does not function as usual, then a person can fail to develop testes and be biologically female. Yet they carry XY chromosomes and under the World Athletics tests they would be excluded from competition. However, athletes can appeal World Athletics’ finding if they believe the test result does not reflect their sex.

Other XY individuals may have a functioning SRY gene but are female — with breasts and female genitalia, for example — but have internal testes.

Importantly, the cells of these people are physically unable to respond to the testosterone produced by these testes. Yet, they would receive positive SRY tests and be excluded from competition.

At the 1996 Olympic Games in Atlanta, eight of 3,387 women athletes had positive test results for a Y chromosome. Of these, seven were resistant to testosterone.

THE SRY TEST ISN’T CUT-AND-DRIED
World Athletics asserts the SRY gene is a reliable proxy for determining biological sex. But biological sex is much more complex, with chromosomal, gonadal (testis/ovary), hormonal, and secondary sex characteristics all playing a role.

Using SRY to establish biological sex is wrong because all it tells you is whether or not the gene is present.

It does not tell you how SRY is functioning, whether a testis has formed, whether testosterone is produced and, if so, whether it can be used by the body.

OTHER PROBLEMS WITH THE SRY TESTING PROCESS
World Athletics is recommending all women athletes take a cheek swab or blood sample to test for the presence of SRY.

Normally, the sample would be sent to a lab that would extract DNA and look for the presence of the SRY gene.

This may be easy enough in wealthy countries, but what is going to happen in poorer nations without these facilities?

It is worth noting these tests are sensitive. If a male lab technician conducts the test he can inadvertently contaminate it with a single skin cell and produce a false positive SRY result.

No guidance is given on how to conduct the test to reduce the risk of false results.

Nor does World Athletics recognize the impacts a positive test result would have on a person, which can be more profound than exclusion from sport alone.

There was no mention from World Athletics that appropriate genetic counselling should be provided, which is considered necessary prior to genetic testing and challenging to access in many lower- and middle-income countries.

I, along with many other experts, persuaded the International Olympic Committee to drop the use of SRY for sex testing for the 2000 Sydney Olympics.

It is therefore very surprising that, 25 years later, there is a misguided effort to bring this test back.

Given all the problems outlined above, the SRY gene should not be used to exclude women athletes from competition.

THE CONVERSATION VIA REUTERS CONNECT

Andrew Sinclair is the deputy director of the Murdoch Children’s Research Institute. He receives funding from NHMRC.

How PSEi member stocks performed — August 7, 2025

August 8, 2025 | 12:00 am

Here’s a quick glance at how PSEi stocks fared on Thursday, August 7, 2025.

Philippine central bank developing online gambling rules for banks, e-wallets

August 7, 2025 | 9:25 pm

By Luisa Maria Jacinta C. Jocson, Senior Reporter

THE BANGKO SENTRAL ng Pilipinas (BSP) is developing rules that require financial institutions to impose stricter safety protocols in an effort to mitigate risks from online gambling.

In a statement on Thursday, the central bank said it is “taking action to protect financial consumers from the risks associated with online gambling.”

The booming gaming industry in the Philippines has led to calls to regulate or even ban the sector amid concerns over rising addiction and financial problems among Filipinos.

Philippine President Ferdinand R. Marcos, Jr. has warned that digitalization has made online gambling more accessible and destructive to Filipino families.

Mr. Marcos earlier expressed openness to supporting both taxation and regulation in the sector but did not bring this up during his State of the Nation Address last month.

The Department of Finance has proposed a tax on online gaming, as well as other possible measures to crimp the public’s access to digital gambling platforms such as imposing limits on playing time or cash-in.

The BSP said it is “finalizing new rules, developed following public consultation, that will require banks, e-wallets, and other financial service providers to adopt stronger safeguards against gambling-related harm.”

These rules will include stricter identity verification measures such as biometric checks and facial recognition when utilizing funds for online gambling.

The central bank also seeks to impose “daily limits on gambling-related transfers to reduce excessive financial losses and time-based restrictions on gambling payments to help curb impulsive behavior.”

Other measures include user tools to implement personal spending caps, voluntary breaks, or options to self-exclude from gambling transactions.

“These safeguards aim to reduce the risks of addiction, fraud, and financial harm while promoting the responsible use of digital financial services,” the BSP added.

The central bank last month released a draft circular which seeks to tighten regulations on online gambling payments to prevent the misuse of financial services.

This would cover payment service providers engaged in these services as well as operators of a payment system serving as payment acquirer or aggregator of the online gambling operator.

“The BSP’s move to strengthen safeguards against online gambling-related harm is a timely and welcome development,” Rizal Commercial Banking Corp. Executive Vice-President and Chief Innovation and Inclusion Officer Angelito M. Villanueva said in a Viber message.

“As digital payments become more accessible, so too does the risk of excessive gambling, fraud, and financial distress, especially among the youth and vulnerable sectors,” he added.

Mr. Villanueva cited the need for a “proactive, risk-based approach that goes beyond blocking transactions.”

“Measures like real-time monitoring, stricter onboarding, merchant classification, and customer self-exclusion tools will help banks and fintechs (financial technology) protect users while upholding financial integrity.”

“This is a vital step toward building a more responsible and resilient digital finance ecosystem,” he added.

Ronald B. Gustilo, national campaigner for Digital Pinoys group, suggested several measures that central bank and Philippine Amusement and Gaming Corp. can consider to discourage online gambling.

“Ban endorsements on social media platforms, e-wallets, banking platforms, super-apps, booking sites, and other websites or apps across the internet — except on the official website of the online gambling platform itself,” Mr. Gustilo said.

Banner ads, the use of celebrities or influencers as promoters, and any content that promotes illegal gambling should also be prohibited, he added.

“We also suggest making it a criminal offense to endorse gambling online. It should also be a crime to steal content or illegally use photos or videos of a personality and edit them to appear as if the influencer or celebrity is endorsing gambling.”

The government can also consider discouraging easy access to betting, such as increasing the minimum bet amount of online gambling platforms and raising the minimum betting age.

Tighter restrictions can also be employed, such as not allowing any gambling until the identity verification process is complete, as well as an automatic cooldown feature.

Mr. Gustilo also proposed not allowing the sharing or lending of accounts. “Anyone caught allowing others to use their account should be banned from the platforms.”

He also called for the ban of using e-wallets or online banking for topping up gambling accounts, as well as banning interfaces that resemble children’s games.

On the other hand, political economist Calixto V. Chikiamco said that the BSP “should not be determining ‘social harm.’”

“It’s a monetary regulator, not a social engineer. It should leave to elected members of Congress regulations affecting online gaming,” he said in a Viber message.

The central bank should also be careful about over-regulation, he said.

“If they set up high bars for poor people to gamble, they might just drive gambling to illegal gaming sites. Gaming is a form of entertainment that should be available to poor and rich alike.”

“The social harm actually comes from gambling addiction and there are tools like allowing relatives to ban their loved ones from gaming sites that should be mandated,” he added.

Mr. Chikiamco said regulations must be “smart” or else these will just “drive players into unlicensed and unregulated markets where they could be exploited and social harm mitigation tools are absent.”

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