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RTW pioneer, fashion designer Larrie Silva, 74

LARRIE SILVA

LARRIE SILVA, pioneer of ready-to-wear (RTW) Filipino fashion, died last week on May 14. He was 74.

Born on Sept. 20, 1950, Mr. Silva was studying fashion and working at Balmain in Paris in the 1970s. There, he was discovered by Rustan’s co-founder Gliceria Tantoco.

In an article he wrote for the Philippine Daily Inquirer in 2019 (“How Glecy Tantoco chose me for Rustan’s first local designer brand”), he said, “For a 26-year-old wannabe, the thought of meeting the founder of Rustan’s was wishful thinking. One day, seated next to a window in my hole-in-the-wall apartment in Paris overlooking the Notre-Dame Cathedral, I thought, ‘Why not?’”

Under Mrs. Tantoco’s wing, Mr. Silva helmed Lady Rustan, the luxury store’s home brand, still selling to this day. This set the wheels in motion for him to plant the seeds for ready-to-wear clothes in the Philippines, at that time still heavily reliant on the made-to-order designer model. Under Rustan’s, Mr. Silva also created Silvastar and Silvano.

He retired in 2003, but not before supermodels like Ana Bayle and Pat Cleveland walked in his creations, at a gala dedicated to his work by Rustan’s.

His friend, publicist Joselito “Toots” Tolentino said in a Facebook post, “We will miss you dearest close friend Larrie Silva. All the memories from the many decades-long friendship will always be remembered. Rest in peace.”

Society figure and writer Lorenzo Leviste said in a post in the same platform, “Designer Larrie Silva enters immortality. May he live in eternal love and happiness.” — JL Garcia

Listed media firms poised for Q2 growth on election ads

GLENN CARSTENS PETERS-UNSPLASH

By Ashley Erika O. Jose, Reporter

LISTED media companies are expected to sustain growth in the second quarter, supported by anticipated revenue gains from election-related advertisements, according to analysts.

“Considering the results of listed Philippine media companies in the first quarter, several factors must be examined, particularly their advertising revenue trends, as these significantly affect media firms,” Globalinks Securities and Stocks, Inc. Head of Sales Trading Toby Allan C. Arce said in a Viber message.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said midterm election-related advertisements would provide a boost to listed media companies in the second quarter.

“However, there could be some shift toward digital media channels as an increasing number of people use their smartphones as a major source of news, entertainment, information, education, and interaction,” Mr. Ricafort said.

Philippine media companies recorded increases in their revenues in the first quarter, driven by growth in advertisement revenues during the period.

“Since elections fall in the second quarter, media firms could see a surge in ad revenues,” Mr. Arce of Globalinks Securities said.

Mr. Arce added that companies investing in digital platforms would likely see higher engagement and advertisement revenues, driven by consumer preference for online content.

ABS-CBN Corp. narrowed its attributable net loss for the first quarter to P425.65 million from P841.54 million due to higher revenues during the period.

For the January-to-March period, ABS-CBN posted gross revenue of P4.23 billion, marking a 3.68% increase from P4.08 billion in the same period last year.

Broken down, ABS-CBN recorded total advertising and consumer revenue of P3.18 billion, up by 20.91% from P2.63 billion a year ago, while revenues from cable television and broadband declined by 26.9% to P1.06 billion from P1.45 billion previously.

Meanwhile, GMA Network, Inc. saw its first-quarter attributable net income rise more than threefold to P801.68 million from P204.12 million a year earlier, mainly driven by a surge in advertising revenues.

For the first three months, GMA Network reported a combined revenue of P4.68 billion, 27.87% higher than the P3.66 billion recorded a year earlier.

According to its financial statement, advertising revenues accounted for the majority of its top line during the period at P4.34 billion, up by 29.17% from P3.36 billion, while consumer sales climbed by 17.97% to P345.85 million from P293.17 million.

Further, Mr. Arce said the continuing post-pandemic recovery may also boost spending and indirectly support advertising.

The Philippine economy expanded by 5.4% in the first quarter, slightly faster than the 5.3% growth in the previous three-month period but slower than the 5.9% pace in the same quarter last year.

“Streamlining operations and adopting efficient technologies can support profit margins despite mixed top-line performance,” Mr. Arce said, adding that the shift of media companies toward digital platforms could also support their growth during the period.

Philippine elections leave the Marcos-Duterte family feud still dominating politics

PRESIDENT Ferdinand R. Marcos, Jr. (R) and Vice-President Sara Duterte in happier days. — PNA/ALFRED FRIAS

With 317 congressional seats and nearly 18,000 local positions at stake, the May 12 midterm election results in the Philippines mean different things to people across the archipelago. But even a few hours after the unofficial results came in, the brute facts had already become clear.

Local elections for municipal and city mayorships, provincial governorships and congressional seats predictably produced victories for entrenched local “dynasties.” The advantages of incumbency — control over the patronage resources and regulatory powers of the state — ensured reelection for many sitting mayors, governors, and congress members.

Midterm elections in the Philippines also include half of the seats in the nationally elected 24-member Senate. They thus serve simultaneously as tests for presidents halfway through their single six-year terms and previews of the next presidential election, in this case in 2028.

The latest mid-terms have been notable for their — ultimately ambiguous — implications for a major family feud at the top of the country’s politics. This feud pits the family of current president Ferdinand “Bongbong” Marcos, Jr. against that of his vice-president, Sara Duterte.

The elections have failed to strengthen either family decisively, so their bitter rivalry is likely to continue throughout the remainder of Marcos’s term.

This family feud dates back to late 2021. At that time, Duterte agreed to run as Marcos’s running mate for presidential elections the following year despite her clear lead in nationwide voter preference surveys.

The Marcos-Duterte ticket won a landslide victory. They benefited from the endorsement and assistance of the incumbent president, Rodrigo Duterte, whose enduring popularity extended to his daughter Sara.

But following Marcos’s inauguration in late June 2022, a rift between the two families began to open up. Marcos settled into his presidential role and began to distance himself from the signature policies of his predecessor.

Instead of cultivating close ties with China, Marcos strengthened relations with the US. And instead of continuing Duterte’s so-called “war on drugs,” Marcos publicly spotlighted corruption in the Philippine National Police (PNP).

By 2024, Marcos began to signal his government’s willingness to cooperate with the International Criminal Court in its investigation of Duterte’s role in the thousands of extrajudicial killings undertaken in the war on drugs. Then, in March 2025, Duterte was arrested and transferred to The Hague. He is due to stand trial in the coming months.

Relations between the president and his vice-president have also broken down. Sara Duterte resigned from her cabinet post in 2024 amid corruption allegations, with subsequent months seeing escalating public hostilities between Marcos and herself. These included claims of death threats and assassination plots.

The House of Representatives voted by a clear majority to impeach Duterte in February 2025, setting the stage for a Senate trial later in the year. Against this backdrop, the midterms served as a kind of pre-trial proxy war between the two families.

The Dutertes fielded 10 candidates for Senate, the so-called “Duterten.” They also endorsed two of the 12 candidates in the Marcos-backed Alyansa para sa Bagong Pilipinas (Alliance for a New Philippines). The campaign was dominated by mudslinging between the two camps in the media and on social media. And the final results have proved decidedly mixed.

On the one hand, pro-Duterte voters came out in a show of force to support candidates in the slate backed by the former president. This was foreshadowed by Marcos’s declining popularity  following the arrest of his predecessor and the impeachment of his vice-president.

Longtime Duterte lieutenant, Christopher “Bong” Go, won reelection and the most votes of all candidates. Duterte’s former police chief, Ronald “Bato” dela Rosa, also secured another term with a third-place showing.

The sixth-placed winner was Rodante Marcoleta, another Duterte-backed candidate. He is a television broadcaster and member of the Iglesia Ni Cristo, an independent church whose nearly 3 million members have long been viewed as a single solid voting bloc.

Two Alyansa candidates, Imee Marcos, the president’s estranged sister, and Camille Villar, daughter of wealthy real-estate mogul and former senator Manuel “Manny” Villar, also won seats with the explicit blessings of the Dutertes.

On the other hand, the Marcos camp won more seats and some added strength in its battle with the Dutertes for control of the Senate ahead of Sara Duterte’s trial. Erwin Tulfo, a popular television news anchor and Marcos’s former secretary of social welfare and development, won the fourth-place seat.

He was accompanied by four former senators also affiliated with Alyansa. These included ex-PNP chief Panfilo “Ping” Lacson, longtime television personality Vicente “Tito” Sotto III, Pia Cayetano with her base in wealthy Taguig City, and former action film star Lito Lapid.

But, overall, the mid-terms do not seem to have improved the prospects for the successful conviction of Sara Duterte. Alongside the winning Alyansa candidates, voters also returned two prominent opposition candidates, Paolo “Bam” Aquino and Francis “Kiko” Pangilinan, to the Senate. They oppose both the Marcos administration and the Duterte camp.

At the same time, there are questions about the allegiances of several of the 12 senators already seated. This adds an additional challenge in the search for the 16 senators required to secure impeachment.

Duterte — and her father, just reelected as Davao’s mayor while awaiting trial in The Hague — also still enjoy support among many voters, especially in their southern home base in Mindanao.

The 24 elected members of the Senate are sensitive to public opinion and their own reelection prospects in 2028 and beyond. So, many of them will probably choose to hedge their bets and see where the winds are blowing as the trial unfolds.

The family feud dominating the national political scene looks set to remain unresolved over the months and years ahead.

THE CONVERSATION VIA REUTERS CONNECT

 

John Sidel is a professor of International and Comparative Politics at the London School of Economics and Political Science.

Argentina farm region hit by severe floods

REUTERS

BUENOS AIRES — Thousands of residents evacuated Saturday as rains lashed the north of Argentina’s Buenos Aires province, a vital agricultural hub, and caused severe flooding.

The National Meteorological Service, which issued a red alert for the region Friday evening, reported rainfall between 150 and 250mm (6-10 inches) between the cities of Zarate and Arrecifes. It warned that storms were “constantly regenerating,” with more rain expected.

Television images showed residents in Zarate, 100 km (62 miles) from the capital, navigating submerged streets in boats loaded with belongings.

A long-distance bus with 44 passengers was trapped by floodwaters on Route 9 near Zarate. “Water started coming in and covered everything,” the driver told the local C5N television channel.

In San Antonio de Areco, more than 260mm fell in 24 hours – an amount mayor Francisco Ratto called “rarely surpassed.”

The heavy precipitation in the key food-exporting region is anticipated to cause further delays to the ongoing soybean harvest.

Argentina is the top global exporter of soybean meal and oil, as well as the third-largest exporter of corn and a major wheat exporter. — Reuters

Electric, diesel commercial vehicles for ‘Byahenyos’

Posing with the Hyundai County Electric and Hyundai Mighty Electric are (from left) Hariphil Asia Resources, Inc. (HARI) Director, Treasurer, and CFO Ladislao Z. Avila; HARI Chairman Richard Lee; HARI Vice-Chair, President, and CEO Maria Fe Perez-Agudo; and Hyundai Motor Company Asia-Pacific Vice-President Jun Heo. — PHOTO BY DYLAN AFUANG

Hyundai Truck and Bus PHL rolls out new CVs, programs for local businesses

By Dylan Afuang

HARIPHIL ASIA RESOURCES, INC. (HARI), the official Philippine distributor of Hyundai Truck and Bus (HTB) commercial vehicles (CVs), emphasized its being a “relevant partner of Philippine entrepreneurs” by introducing to the market new and electric CVs and a transport solution. This comes after HARI saw a rise in reception for the South Korean mobility provider’s CVs.

“The vehicles that we launch today — and those we plan to introduce soon — are purposely selected for Filipino enterprises to tackle present and future challenges head-on, while giving them the freedom to contribute to the country’s advancement,” HARI Vice-Chair, President, and CEO Maria Fe Perez-Agudo said in a statement provided by the company, after it held the Hyundai Truck and Bus Mobility EV-olution Expo in Alabang weeks ago.

At the event, HARI launched the Hyundai Mighty Electric light-duty truck, County Electric minibus, and the diesel engine-powered and locally assembled Hari Cab truck. The company also introduced its “Byahenyo Program” that is “envisioned to be a movement for empowering local entrepreneurs through world-class vehicles.”

“(HARI prioritizes) affordability, easy maintenance, and nationwide after-sales support (for Hyundai CVs),” Ms. Perez-Agudo continued. “By aligning with government programs and providing flexible financing, HARI ensures Hyundai (CVs) are accessible and sustainable for MSMEs (micro, small, and medium enterprises) and transport cooperatives,” the executive added.

The company’s vision is to “improve the customer experience,” Hyundai Motor Company Asia-Pacific Vice-President Jun Heo said in his message during the Mobility Expo. The local HTB dealership network, public transport cooperatives, and officials from the Department of Transportation (DoTr) and the Electric Vehicle Association of the Philippines (EVAP) were among those who gathered at the event.

A mining company and transport cooperative are set to acquire Hyundai CVs, and the distributor achieved “27% growth in 2024” compared to the previous year, HARI leadership announced to the event attendees and the media.

The County and Mighty electric commercial vehicles (e-CVs) are part of HARI’s push for clean and sustainable transport. The County Electric, which can accommodate 22 passengers plus the driver, is billed as the mobility brand’s first pure-electric minibus. The minibus is equipped with a 128-kWh lithium-ion battery, boasts a rapid 72-minute charging time, and an estimated range of 303km.

In “extensive simulated operational testing covering 100,000 kilometers or five years of service,” the County can realize 21% savings in maintenance costs compared to an internal combustion engine (ICE)-powered vehicle of the same type, HARI claimed.

The Mighty Electric can accommodate specific business requirements as the truck can be customized by HARI’s partner builder, Centro Manufacturing Corp. Equipped with a 114.5-kWh lithium-ion battery, the vehicle has an estimated range of 260km.

In five years or when it has reached 100,000 kilometers, the electric truck, with its “reduced mechanical complexities and minimal fluid change requirements,” can promise up to 9% lower maintenance costs compared to an ICE vehicle, the firm boasted.

The locally assembled HARI Cab is touted as designed for Filipino communities. The vehicle, which is powered by a Euro 4 diesel engine, comes with a variety of body options, including the Aluminum Van, Shuttle, and School Bus to accommodate the needs of logistics providers, small businesses, cooperatives, and local government units nationwide.

Depending on the configuration and specifications of the Cab, the truck carries suggested retail prices ranging from P1.767 million to P2.362 million, and internal company testing revealed that the vehicle has a fuel consumption of 10.35kpl.

HARI is supported by eight dealerships, eight outlets, and two service centers.

Fashion finds at Habi Fiesta

FACEBOOK.COM-GATEWAYGALLERYPH

WHILE HABI FIESTA, a gathering of local weaving businesses supported by the J. Amado Araneta Foundation through the Gateway Gallery, ended on May 18 after a run in the Gateway Mall’s activity center, interested parties can still contact these vendors and order from them (we asked; we took our measurements in anticipation).

Namarabar Ethnic Crafts & Antiques from Abra makes jackets that have since become our new favorite, copying the lines of certain French cardigans but executing them in pinilian, a sort of cotton brocade woven locally. Raised threads in the design create patterns, such as one showing a figure of a fisherman, executed in blue. Contact them at 0995-214-0675, or at malibradadonato351@gmail.com.

Sky Weavers, meanwhile, makes Ifugao Ikat more wearable in the city, such as in kimonos. They’re on Instagram as @skyweavers.

Abel Kan Burda Ta Ka Itnegan also makes their wares out of pinilian and other inabel (handwoven textiles from the region) — they made long coats with terno butterfly sleeves in the same hefty fabric. They have an Instagram page, @abelkanburdatakaitnegan, but if that’s a mouthful, try gabbygundran5@gmail.com and 0967-621-4480.

Angie’s Yakan Handloom Weaving makes shirts, home linens in the Yakan fabric, and they’re based in Zamboanga. Contact them through Facebook at angiesyakancloth and 0917-854-6111.

Pinangga, based in Manila, makes garments embroidered by women from marginalized communities, creating lovely skirts and tops with European-style smocking and embroidery. They’re on Facebook as Pinangga Ethnic Hand Embroidery, or contact them at 0960-388-2200.

On a similar note, Project Payatas is co-owned by mothers in Payatas (a name once remembered only as a landfill), showing off crafts such as bags and mats. They’re on Facebook as projectpayatasph; or contact them at 0953-290-6903. — JLG

Debt yields end mixed after US-China truce

YIELDS on government securities (GS) traded on the secondary market ended mixed last week as appetite for other risk assets improved following the trade truce between the United States and China.

GS yields, which move opposite to prices, rose by an average of 0.5 basis point (bp) last week, based on PHP Bloomberg Valuation Service Reference Rates as of May 16 published on the Philippine Dealing System’s website.

The short end of the curve declined week on week, with the 91-, 182-, and 364-day Treasury bills inching down by 1.01 bps (to 5.5126%), 4.51 bps (5.6257%) and 1.56 bps (5.6996%), respectively.

At the belly, yields mostly went up. The three, four-, five-, and seven-year Treasury bonds (T-bonds) rose by 0.57 bp (to 5.7907%), 1.07 bps (5.8291%), 1.45 bps (5.8808%), and 3.13 bps (6.0064%), respectively. Only the two-year bond declined, inching down by 0.71 bp to yield 5.7571%.

Meanwhile, at the long end of the curve, rates went up across all tenors. The 10-, 20-, and 25-year papers climbed by 2.94 bps (to 6.1732%), 1.91 bps (6.2726%), and 2.17 bps (6.7230%), respectively.

GS volume traded amounted to P80.42 billion on Friday, slightly lower than the P81.85 billion recorded a week prior.

“The trade truce between the US and China helped reduce global risk sentiment and uncertainty. As investors unwound their positions in safe haven assets, such as government bonds, this triggered an outflow that pushed yields higher both globally and locally. The market interpreted the tariff concessions as a signal of easing tensions, thereby increasing risk appetite and rotating flows toward riskier assets,” ATRAM Trust Corp. Vice-President and Head of Fixed Income Lodevico M. Ulpo, Jr. said in a Viber message.

“Local bond market yields rose midweek as positive tariff-related headlines sent US Treasury yields higher,” a bond trader likewise said.

The United States will cut the low value “de minimis” tariff on China shipments, a White House executive order said on Monday, further de-escalating a potentially damaging trade war between the world’s two largest economies, Reuters reported.

The move comes several hours after Beijing and Washington announced a truce in their trade spat after weekend talks in Geneva, with both sides agreeing to unwind most of the tariffs imposed on each other’s goods since early April.

While their joint statement in Geneva didn’t mention the de minimis duties, the White House order released later said the levies will be reduced to 54% from 120%, with a flat fee of $100 to remain, starting from May 14.

Mr. Ulpo added that the result of last week’s T-bond auction also affected bond yield movements at the secondary market.

“One of the notable local developments was the weak reception to the 20-year Treasury bond auction. The lackluster demand reflected investor concerns about locking into long-term duration amidst a still-uncertain policy backdrop. This caused some selling pressure on long-dated securities, contributing to a steeper curve. Additionally, profit taking from previous bond rallies also exerted upward pressure on yields during the week,” he said.

On Wednesday, the Bureau of the Treasury raised P25 billion as planned from the reissued 20-year T-bonds it auctioned off, with total bids for the tenor reaching just P27.89 billion. This brought the total outstanding volume for the bond series to P192.7 billion.

The notes, which have a remaining life of 19 years and 13 days, were awarded at an average rate of 6.486%. Accepted yields ranged from 6.375% to 6.618%.

For this week, both the trader and Mr. Ulpo said yields could move sideways amid a lack of leads.

“We expect GS yields to move in a more range-bound manner in the coming week, with a relatively neutral bias. Market participants will closely monitor the results of the upcoming 10-year bond auction, which is expected to provide clearer guidance on appetite for duration. Additionally, any surprise data releases or shifts in global risk sentiment may influence short-term positioning,” Mr. Ulpo said.

On Tuesday, the BTr will offer P30 billion in reissued 10-year T-bonds with a remaining life of nine years and 11 months. — Matthew Miguel L. Castillo with Reuters

MPTC ready to resume merger talks with SMC

CAVITEX.PH

METRO PACIFIC Tollways Corp. (MPTC) said it is ready to resume merger talks with San Miguel Corp. (SMC) after deferring discussions amid fundraising activities.

“We would like to engage them because everybody has reported their first-quarter results already. We can go back to work. If we are going to do it, we might as well do it as expeditiously as possible,” MPTC Chairman Manuel V. Pangilinan told reporters on the sidelines of an event last week.

“We just have to sit down and really try to thresh it out. [SMC] is doing very well.”

In 2023, MPTC reported debt of approximately P145 billion to P150 billion, the highest among Metro Pacific Investments Corp. (MPIC) units.

MPTC said earlier that its planned tollway merger with SMC has no definite completion date yet but intends to finalize the deal this year.

The tollway arm of MPIC said the company aims for a 50-50 split in the planned merger with SMC, describing it as the ideal structure for the joint venture.

MPTC is the tollway arm of Metro Pacific Investments Corp., one of three key Philippine units of Hong Kong-based First Pacific Co. Ltd., alongside Philex Mining Corp. and PLDT Inc.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., holds a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Ashley Erika O. Jose

Real GDP per person employed in the philippines (as of Q1 2025)

The country’s labor productivity — as measured by gross domestic product (GDP) per person employed — grew by 4.2% year on year to P112,791 in the first three months of the year. This was slower than the 6.4% a year earlier and the 5.3% in the fourth quarter of 2024.

Real GDP per person employed in the philippines (as of Q1 2025)

Road discipline and safety

WHY KEI-UNSPLASH

Road rage is no longer a rare outburst — it has become disturbingly common.

Violent confrontations among motorists, sometimes leading to fatalities, now frequently appear on social media and the news. In Metro Manila alone, a portion of the 72,000 vehicular accidents reported in 2022 was linked to road rage, according to the Metropolitan Manila Development Authority (MMDA).

The situation is worsening. Every day, an average of 32 Filipinos die in road accidents. The Philippine National Police (PNP) reported a notable increase in road accidents in 2024 compared to the previous year, with fatalities rising by 35% — from 2,030 in 2023 to 2,747 in 2024. A staggering 87% of these accidents were due to reckless driving. This includes improper overtaking, speeding, drunk driving, overloading, and the use of mobile phones while driving. Other factors include poor vehicle maintenance and inadequate road conditions.

But statistics tell only part of the story. Behind these numbers are countless impulsive decisions, unchecked emotions, and the failure to maintain discipline while driving. Traffic congestion, stress, fatigue, poor driving skills, and sometimes substance abuse or untreated mental health issues create a volatile mix. These elements can quickly escalate into aggressive driving — and ultimately, road rage.

Road rage lacks a consistent clinical definition, but it is generally understood as a set of thoughts, emotions, and behaviors in response to perceived provocation on the road. It is a reaction to what a driver views as poor, dangerous, or inconsiderate driving by others. These reactions can range from verbal abuse and rude gestures to more extreme forms, such as intentionally tailgating, sideswiping, or even using a vehicle or weapon to inflict harm.

Some experts define road rage as aggressive driving that endangers or potentially endangers others, typically involving deliberate acts of hostility and risk-taking. While road rage is not formally recognized as a mental disorder, it can be symptomatic of underlying issues such as anxiety, depression, or intermittent explosive disorder (IED) — a condition marked by repeated, uncontrollable outbursts of aggression. Those dealing with such mental health issues are encouraged to seek help from professionals for diagnosis and appropriate management.

Recognizing the urgency of the situation, the Land Transportation Office (LTO) launched its “Stop Road Crash” advocacy in 2024. The campaign aims to reduce road accidents by at least 35% by 2028. The LTO is undertaking a comprehensive data analysis of traffic accidents and road rage incidents, leveraging digital technologies to gather real-time information. The goal is to create effective, data-driven interventions encompassing enforcement, infrastructure improvements, regulatory reforms, and public education to promote road discipline.

Legislative efforts are also underway. Several bills seeking to impose harsh penalties on individuals involved in road rage incidents have been filed in the House of Representatives. One of these, House Bill 8991 or the Anti-Road Rage Act, proposes imprisonment of six to 12 years and fines between P250,000 and P500,000 for road rage incidents that result in death. These penalties are in addition to civil damages, as determined by the courts.

While policy and enforcement are crucial, individual responsibility remains paramount. The LTO provides practical advice for avoiding road rage and fostering safer road behavior. First, practice road courtesy. Simple acts like using turn signals, yielding when appropriate, and respecting pedestrian rights can significantly reduce tension and frustration. Giving way to merging vehicles or avoiding unnecessary honking can help create a calmer driving environment.

Second, manage your emotions behind the wheel. If another driver provokes you, resist the urge to retaliate. Take deep breaths, stay focused on your destination, and avoid escalating the situation. Keeping a safe distance from the vehicle in front of you is another essential step — not only to avoid collisions but also to prevent confrontations triggered by tailgating.

Third, avoid competition and aggressive driving behaviors. Racing, sudden lane changes, or retaliatory gestures may give a momentary sense of satisfaction but come at a high cost. Remember: you gain nothing by “winning” an argument on the road. What you stand to lose — your safety, your freedom, or your life — is far more significant.

Fourth, always consider the consequences. Road rage incidents can lead to serious legal repercussions: fines, imprisonment, or license suspension. They can also cause lasting harm, from physical injuries to emotional trauma. One impulsive act can ruin lives, including your own.

Finally, practice empathy. Every driver on the road has a story — you never know what challenges another person might be facing. Perhaps they’re rushing to an emergency or simply having a bad day. Choosing compassion over confrontation can make a world of difference.

The road is a shared space. Every motorist has the power — and the responsibility — to contribute to a safer environment. Road rage is not just a personal failing; it’s a public safety issue. By promoting discipline, respect, and emotional control behind the wheel, we can all help ensure that getting to our destination doesn’t come at the cost of someone else’s life.

Let us drive with patience, lead with courtesy, and remember that the strongest response to provocation is restraint. In doing so, we protect not just ourselves, but everyone around us.

 

Teodoro B. Padilla is the executive director of Pharmaceutical and Healthcare Association of the Philippines which represents the biopharmaceutical medicines and vaccines industry in the country. Its members are in the forefront of research and development efforts for COVID-19 and other diseases that affect Filipinos.

How PSEi member stocks performed — May 16, 2025

Here’s a quick glance at how PSEi stocks fared on Friday, May 16, 2025.


Peso may move sideways vs dollar

THE PESO could trade sideways against the dollar this week as the market continues to watch for developments in the United States’ trade talks with China and other trading partners.

The local unit closed at P55.635 per dollar on Friday, strengthening by 11.1 centavos from its P55.746 finish on Thursday, Bankers Association of the Philippines data showed.

However, week on week, the peso declined by 12.5 centavos from its P55.51-per-dollar close on May 9.

The peso climbed against the greenback on Friday following the softer-than-expected April US producer price index (PPI) data, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

The dollar was weaker early on Friday due to the PPI report, supporting the peso’s rise, a trader likewise said in a phone interview, although there was some profit taking later in the session.

For this week, the trader said the market will continue to monitor the US’ ongoing trade talks amid a lack of leads.

The trader sees the peso moving between P55.50 and P55.90 per dollar this week, while Mr. Ricafort expects it to range from P55.40 to P55.90.

The dollar fell in tandem with US Treasury yields on Friday after downside surprises on US economic data this week cemented bets of more US Federal Reserve rate cuts this year.

The week started out with a mix of market tailwinds headlined by a US-China trade truce which propelled the dollar higher, though the euphoria soon fizzled out and left currencies trading sideways.

Most of the action in the foreign exchange market came from the dollar’s moves against the South Korean won, where it fell sharply for a second straight day on news that Washington and Seoul discussed the dollar/won market earlier this month.

The moves were reminiscent of a similar episode in the Taiwan dollar earlier this month.

The dollar last traded 0.4% lower at 1,390 won.

In the broader market, the dollar was struggling to regain its footing after an overnight slide following data which showed US producer prices unexpectedly fell in April.

The PPI figures came on the heels of a tame consumer price reading earlier in the week, cementing bets that the Fed is likely to cut rates at least twice this year.

The euro was up 0.26% to $1.2130 while sterling rose 0.14% to $1.3325.

Against a basket of currencies, the dollar fell 0.2% to 100.57, though was on track for a slight weekly gain thanks to its sharp 1.3% rise on Monday.

Markets are now pricing in roughly 57 basis points (bps) worth of Fed cuts by December following Thursday’s data, up from 49 bps previously.

In a closely watched speech on Thursday, Fed Chair Jerome H. Powell said policymakers feel they need to reconsider the key elements around both jobs and inflation in their current approach to monetary policy. — Aaron Michael C. Sy with Reuters