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Oscar contender Hamnet boosts tourism at Shakespeare heritage sites

JESSIE BUCKLEY and Joe Alwyn in a scene from Hamnet.

STRATFORD-UPON-AVON, England — On a cloudy winter’s day, visitors stream into what was once William Shakespeare’s childhood home in Stratford-upon-Avon and the nearby Anne Hathaway’s cottage, family residence of the bard’s wife.

Hathaway’s cottage is one of the settings for the BAFTA and Oscar best film contender Hamnet, and the movie’s success is drawing a new wave of tourists to Shakespeare sites in the town in central England.

Shakespeare’s Birthplace is the house the young William once lived in and where his father worked as a glove maker, while Hathaway’s cottage is where he would have visited his future wife early in their relationship.

Typically, around 250,000 visitors, from the UK, Europe, the United States, China and elsewhere, walk through the locations each year, according to the Shakespeare Birthplace Trust. The charity looks after Shakespeare heritage sites, which also include Shakespeare’s New Place, the site of the Stratford home where the bard died in 1616.

Visitors are flocking in this year thanks to Hamnet, the film based on Maggie O’Farrell’s 2020 novel, which gives a fictional account of the relationship between Shakespeare and Hathaway, also known as Agnes, and the death of their 11-year-old son Hamnet in 1596.

“Visitor numbers have increased by about 15 to 20% across all sites since the film was released back in January. I think that will only continue as we go throughout the year,” Richard Paterson, chief operating officer for the Shakespeare Birthplace Trust, said.

“They particularly want to look (at) Anne Hathaway’s cottage and the specifics around how the family engaged in the spaces and the landscape in and around the cottage… you can see why he would have been inspired.”

NEW ACCESS TO SHAKESPEARE
Hamnet has 11 nominations at Sunday’s British BAFTA awards, including best film and leading actress for Jessie Buckley, who plays Agnes. It also has eight Oscar nominations, with Ms. Buckley seen as the frontrunner to win best actress.

Hamnet is set in Stratford-upon-Avon and London although it was not filmed in Stratford.

It sees Paul Mescal’s young Shakespeare fall for Agnes while teaching Latin to pay off his father’s debts. The drama, seen mainly through Agnes’ eyes, focuses on their life together and grief over Hamnet’s death, leading Shakespeare to write Hamlet.

“Shakespeare… is notoriously enigmatic. He writes about humanity, about feeling, about emotion, about conflict, but where do we understand who he is in that story?” said Charlotte Scott, a professor of Shakespeare studies and interim director of collections, learning and research at the Shakespeare Birthplace Trust.

“And that’s driven people creative and otherwise for hundreds and hundreds of years. Where is Shakespeare’s heart? And this is what the film I think has so beautifully opened up.”

Little is known about how the couple met. Shakespeare was 18 and Hathaway 26 when they married in 1582. Daughter Susanna arrived in 1583 and twins Judith and Hamnet in 1585.

The film acknowledges the names Hamnet and Hamlet were interchangeable back then. While grief is a dominant theme, audiences also see Shakespeare in love and as a father.

“A lot of people will see this film not necessarily having… had any kind of relationship with Shakespeare,” Ms. Scott said.

“So people will come to this film, I hope, and find a new way of accessing Shakespeare that is about creativity, that is about understanding storytelling as a constant process of regeneration, but also crucially, looking at it from that kind of emotive angle.” — Reuters

GSIS net earnings reach P138 billion

PHILIPINE STAR/IRRA LISING

THE GOVERNMENT Service Insurance System (GSIS) posted a record net income of P138 billion in 2025.

This was supported by gross revenues reaching P344 billion and nonlife gross premiums hitting P11.4 billion, the state pension fund said on Thursday.

Meanwhile, total assets reached nearly P2 trillion last year.

GSIS on Thursday also launched the GSIS Ginhawa Go microloan program to replace Ginhawa Lite. The program aims to cater to government employees who rely on predatory lending for emergency funds.

“Ginhawa Go addresses financial stress early before it escalates and allows you to pay down the loan at your next monthly cycle so that you don’t have to be in debt for example, for two years. Because then all the numbers change once you’re in debt for a long period of time because interest compounds,” Finance Secretary Frederick D. Go said in a speech at the launch event on Thursday.

“My understanding is in the outside market, the borrowing rates are in the double digits. Because of processing fees, application fees, and all sorts of other fees, you might think you’re borrowing money at, say, 6% per month. But with all the fees, you’re actually paying almost double-digit numbers, which makes it very difficult for anybody to keep up this kind of practice.”

GSIS President and General Manager Jose Arnulfo “Wick” A. Veloso said at the same event that he expects loan applications under the new program to surpass those seen for Ginhawa Lite as it now offers smaller amounts.

The loan program offers different loan amounts under different tiers. For amounts from P1,000 to P4,000, payment terms are offered at one to three months. Meanwhile, the standard tier has loanable amounts of P5,000 to P50,000 with payment terms of three, six, 12, 18, or 24 months.

“That structure matters. It recognizes that not every need requires a large loan. Sometimes a member needs a small, short reach with a short runway for repayment,” Mr. Veloso said.

The annual interest rate under the program is fixed at 6% for members with more than three years of paid premiums, while special members can avail the loan at a 7% rate.

Mr. Veloso said the GSIS is studying how to offer lower interest rates under the program.

Ginhawa Go loans are available to GSIS members with at least one month of paid premium contributions. — Aaron Michael C. Sy

Philippines: balance of payments (BoP) position

THE PHILIPPINES’ balance of payments (BoP) deficit sharply narrowed to $373 million in the first month of 2026, the Bangko Sentral ng Pilipinas (BSP) reported. Read the full story.

How PSEi member stocks performed — February 19, 2026

Here’s a quick glance at how PSEi stocks fared on Thursday, February 19, 2026.


Go estimates travel tax removal costing P8B in foregone revenue

CLARK INTERNATIONAL AIRPORT

THE government could forgo about P8 billion annually if a proposal to abolish the travel tax goes through, Finance Secretary Frederick D. Go said.

Mr. Go said the Department of Finance will defer to Congress whether it passes legislation to scrap the travel tax, which has been described as holding back the growth of international travel.

“I believe the total travel tax revenue is P8 billion a year,” he told reporters on the sidelines of a Customs event on Feb. 18.

President Ferdinand R. Marcos, Jr. urged Congress to abolish the travel tax by the time legislators adjourn in June.

The travel tax measure was among 21 priority bills of the Legislative-Executive Development Advisory Council.

Mr. Go noted that proceeds from this duty do not go to the National Government but to the Tourism Infrastructure and Enterprise Zone Authority (TIEZA).

Under the law, 50% of the proceeds from the travel tax collection go to TIEZA, while 40% go to the Commission on Higher Education for tourism-related education programs.

The remaining 10% goes to the National Commission for Culture and the Arts.

Overseas Filipino workers are exempt from paying the travel tax.

The travel tax was first imposed with the signing of Republic Act No. 1478 in 1956, and later amended through Presidential Decree No. 1183 in 1977.

Federation of Philippine Industries Chairperson Elizabeth H. Lee said on Thursday via Viber: “The abolition of the Philippine travel tax represents a long‑overdue reform that removes an outdated burden on outbound travelers.”

The proposed abolition will ease costs for ordinary citizens and businesses, while supporting tourism and trade, Ms. Lee added.

She also noted that, unlike the Philippines, regional peers like Singapore, Malaysia, and Thailand rely on standard airport service charges rather than travel tax.

“By aligning with regional practice, the Philippines strengthens its competitiveness, promotes greater mobility, and affirms its commitment to deeper ASEAN integration.

Foundation for Economic Freedom President Calixto V. Chikiamco said abolishing the travel tax will encourage more travel abroad.

“At present, there are more outgoing Filipinos than foreign travelers to the Philippines,” he noted via Viber. — Aubrey Rose A. Inosante

PEZA counting on European firms to expand after PHL signs FTA with EU

THE Philippine Economic Zone Authority (PEZA) is banking on more investment activity from European firms once the Philippines seals its free trade agreement (FTA) with the European Union (EU).

“We are confident that the finalization of the Philippines–EU FTA will open new opportunities, attracting more European investors to expand and establish operations in the Philippines, create more jobs, boost economic growth, and further strengthen our position as a key investment hub,” PEZA Director General Tereso O. Panga said in a statement on Thursday.

During his meeting with the delegation of the European Parliament Committee on International Trade on Feb. 17, Mr. Panga highlighted the Philippines’ investment environment, reforms, and the opportunities on offer from PEZA economic zones.

He touted the Philippines’ competitive position in Southeast Asia, particularly in services and electronics, with infrastructure poised for modernization.

The Philippines and the EU’s trade relationship is currently anchored on the Generalised Scheme of Preferences Plus (GSP+), which facilitated 2.2 billion euros worth of Philippine exports in 2024.

The Philippines is the only member within the Association of Southeast Asian Nations with an active EU GSP+ arrangement, allowing duty-free entry for over 6,000 products.

With the GSP+ set to expire in 2027, both parties noted the urgency of concluding trade talks to avoid disruptions.

The Philippines and the EU are looking to conclude their FTA talks this year.

The European delegation said its ongoing talks with the Philippines are aimed at assessing issues of policy stability, regulatory transparency, and fair competition.

An FTA with the EU could unlock $12 billion worth of exports, Trade Undersecretary Allan B. Gepty has said, citing estimates by the International Trade Centre. — Beatriz Marie D. Cruz

Recto promises Japanese investors more rapid gov’t decision-making, regulatory certainty

FINANCE SECRETARY RALPH G. RECTO — PCO

THE PHILIPPINES wants Japanese companies to deepen and expand their investment, pledging to accelerate decision-making and make rules more predictable as bilateral trade climbed to P1.27 trillion in 2025.

Executive Secretary Ralph G. Recto described Japan as one of the Philippines’ “most reliable partners,” citing its long-standing role in disaster response and infrastructure development.

“The Philippines is ready to do more business with you. We understand that investors do not ask for favors, only fairness, predictability, and speed,” Mr. Recto told business leaders and officials during the welcome dinner ahead of the 42nd Annual Joint Meeting of the Economic Cooperation Committees of the Philippines and Japan late Wednesday.

“You want clear rules. You want a coordinated government. And you want decisions made before opportunities expire,” he added.

Japan is a top trading partner and source of official development assistance, backing flagship infrastructure projects such as the Metro Manila Subway, which Mr. Recto cited as an example of Japanese engineering and reliability.

Mr. Recto described the level of bilateral trade as “robust” though it “can still be revved up” with room for expansion in both goods and services.

He also cited tourism as an emerging pillar of ties, noting that about 825,000 Filipinos visited Japan in 2025, reflecting growing people-to-people exchanges that complement trade and investment flows.

He told Japanese executives that the government understands that investors seek “fairness, predictability, and speed,” adding that recent laws and policy adjustments were shaped in part by feedback from Japanese firms operating in the Philippines.

“Our goal is straightforward: to make doing business in the Philippines easier, faster, and more reliable,” he said, pitching the country’s young workforce, strategic location in Southeast Asia and expanding domestic market.

Mr. Recto urged Japanese firms to “stay invested” and expand into next-generation industries, saying the government stands ready to work more closely with investors.

“The success of your investments in the Philippines is also the success of the Filipino people,” he said, adding that the “best chapters” of the bilateral partnership are still ahead.

Trade Secretary Ma. Cristina A. Roque, Japanese Ambassador Kazuya Endo and Philippine Ambassador to Japan Mylene Garcia-Albano were present at the dinner. — Chloe Mari A. Hufana

72% of employers now seeking out candidates with proficiency in AI

FREEPIK

ARTIFICIAL INTELLIGENCE (AI) skills are becoming a decisive factor in hiring, with 72% of Philippine companies now considering AI knowledge when recruiting, according to Jobstreet by SEEK.

Jobstreet’s report identifies AI skills gaps, trust in credentials, and the skills-to-jobs disconnect as key barriers hindering candidates from being ready for the workforce.

About 36% of firms consider AI knowledge highly important for candidates, it said.

In a statement on Thursday, the online hiring platform said it partnered with SmartCT and FilPass, which is supported by the ASEAN Foundation’s AI Ready ASEAN Programme.

SmartCT will provide free AI literacy training and modules, while FilPass will issue verifiable digital certificates for graduates. These certified credentials can be uploaded to SEEK Pass, Jobstreet by SEEK’s digital career passport, enhancing recognition by employers.

“SEEK Pass is one of Jobstreet by SEEK’s recent innovations designed to help Filipino job seekers stand out in a changing world of work,” according to Dannah Majarocon, managing director of Jobstreet by SEEK.

“Through this platform, we at Jobstreet by SEEK aim to support the Al Ready ASEAN Programme by helping learners gain a clear path to meaningful opportunities,” she added. — Erika Mae P. Sinaking

Gov’t, critical infra to be governed by DICT cybersecurity protocols

STOCK PHOTO | Image by Vectorjuice from Freepik

THE Department of Information and Communications Technology (DICT) said it is developing cybersecurity protocols for government agencies and entities responsible for digital infrastructure. 

“This will eventually cover both the private and public sector. The minimum baseline requirements include tools and processes that need to be implemented, such as inventory tools and backup procedures,” ICT Undersecretary for Cybersecurity Julius Gorospe told reporters on the sidelines of a cybersecurity forum on Thursday.

The minimum baseline will eventually be introduced to the private sector, Mr. Gorospe said.

“At some point, of course, when it becomes mainstream, it can be unveiled by the private sector…Actually, the private sector can implement them even without the government telling them to,” he said.

He said the guidelines will spell out required cybersecurity investments for agencies.

“While, the Cybersecurity Act is in Congress, and we hope it will become a law, for the meantime (the guidelines will) institutionalize the standards,” he said.

Cybersecurity advocates have said that the Philippines needs to pass legislation and strengthen its national cybersecurity plan to safeguard critical infrastructure networks, which remain highly vulnerable.

The Philippines does not have a cybersecurity law and relies on issuances and policies set by the DICT.

The National Association of Data Protection Officers of the Philippines said legislation must define a unified cybersecurity framework including government agencies but also critical information industries.

The proposed Philippine Cybersecurity Act seeks to establish a National Cybersecurity Agency as the central authority for safeguarding critical information infrastructure, managing cyberthreats, and strengthening cyber defenses. — Ashley Erika O. Jose

15 Metro Manila trade fairs planned this year

DTI

THE Department of Trade and Industry (DTI) said it is planning 15 trade fairs in Metro Manila this year apart from a number of national ones, providing opportunities for micro, small and medium enterprises (MSMEs).

“We are targeting more MSMEs to join our trade shows,” Trade Secretary Ma. Cristina A. Roque told reporters on the sidelines of the Bagong Pilipinas National Trade Fair on Thursday.

In 2025, the DTI’s trade fairs generated over P660 million in sales, including cash sales, confirmed orders, and ongoing negotiations.

About 1,774 MSMEs benefited from last year’s trade fairs, the DTI said.

“For many participants, repeated exposure across multiple fairs has translated into stronger sales performance and improved readiness for both domestic and export markets,” the DTI said.

The DTI opened its 2026 national trade fair calendar with its Bagong Pilipinas National Trade Fair, which will run between Feb. 18 and 22 in Mandaluyong City.

We are strengthening the trade fair program as a system — one that combines consumer-facing platforms with buyer sourcing and networking opportunities,” Trade Assistant Secretary Nylah Rizza D. Bautista said in a statement.

The 2026 National Trade Fair features about 300 exhibitors showcasing eco-friendly, design-driven, and high-value Filipino products.

The trade show will also highlight the Philippine Sustainability Pavilion, which features furniture, textiles, fashion, and handicrafts made from coconut-based materials, engineered bamboo, natural fibers, plant-based dyes, and native grasses. — Beatriz Marie D. Cruz

Approved building permits decline 5.9% in December

PHILSTAR FILE PHOTO

APPROVED building permits declined 5.9% year on year in December, the Philippine Statistics Authority (PSA) said in a report, citing slowing economic growth and cautious developer sentiment.

According to preliminary data, the PSA said building projects covered by the permits fell to 11,411 in December from 12,127 a year earlier.

This was a steeper decline than the 2.6% contraction in December 2024, but an improvement over the 10.1% drop seen in November 2025.

In December, construction projects covered 2.67 million square meters of floor area, down 8.2% year on year.

Approved building projects were valued at P33.62 billion, 13.4% lower than a year earlier.

Marco Antonio C. Agonia, an economist at the University of Asia and the Pacific, said the decline in building permits may be attributed to the weaker growth outlook and still-tight monetary conditions.

Economic growth slumped to 3% in the fourth quarter of 2025, bringing the full-year reading to a five-year low of 4.4%, the PSA reported.

“Property developers may have deferred their projects facing lower demand prospects. The fallout of the delay in government disbursements for infrastructure projects (due to the spending freeze) may have also continued to spill over into building permit approvals,” Mr. Agonia said in an e-mail.

Jonathan L. Ravelas, a senior adviser at Reyes Tacandong & Co., said via Viber that the continued decline in building permits reflects a pause rather than a collapse.

“Elevated interest rates, elevated construction costs and developer caution are delaying new projects, especially in residential and smaller-scale builds,” he said.

The key policy rate fell to 4.25% from 4.5%, the lowest in over three years, since the 3.75% in August 2022.

The Monetary Board has lowered borrowing costs by a total of 225 basis points since it began its easing cycle in August 2024.

The PSA also reported that residential projects, which accounted for 63.1% of all permits, fell 7% to 7,203 in December.

These projects were valued at P12.13 billion, down from P17.40 billion a year earlier.

Single homes, which accounted for 87.6% of the residential category, fell 8% year on year to 6,312.

Applications for apartment buildings declined 12.7%, while applications for duplex or quadruplex homes surged 90.6%.

Meanwhile, nonresidential projects, which accounted for 23.4% of the total, contracted 3.6% year on year.

Permits for nonresidential projects were valued at P17.81 billion, slipping 1.2% from a year earlier.

Approved commercial construction applications accounted for 67.6% of all nonresidential projects at 1,802.

Industrial permits fell 12.4% to 205, while institutional projects fell 1.8% to 497 approvals.

Approved permits for additions, or construction that increases the height or area of an existing building, declined by 2.3% to 387 during the period.

Alteration and repair permits recorded an annual drop of 8% to 858, though their value rose 23% year on year to P2.60 billion.

Calabarzon (Cavite, Laguna, Batangas, Rizal, and Quezon) had the most approved construction projects during the period, accounting for almost 25% of the total with 2,838 permits.

This was followed by Central Luzon (with  a 10.6% share and 1,215 permits), and Ilocos Region (8.8% and 1,005 permits).

“What we’re seeing is a waitand see mode,” said Mr. Ravelas.

“The good news is that once borrowing costs ease and demand stabilizes, permits should recover — construction activity typically follows with a lag,” he added.

Mr. Agonia said the construction industry may see a minor boost in 2026.

“The annual decline means 2026 will be compared against a low base, leading to higher growth figures. However, construction appetite may only truly normalize by the second half of the year, when many analysts expect government spending and investor sentiment to recover,” he said.

Mr. Agonia added that he expects more in the coming months depending on how business sentiment improves.

“Some constructive factors to look out for are returning government and private sector capex (capital expenditures), along with the impact of the cumulative rate cuts which may only be felt by the latter half of this year,” he said. — Pierce Oel A. Montalvo

Domestic goods trade hits P562.76 billion in Q4

Trucks enter a port in Manila. — PHILIPPINE STAR/EDD GUMBAN

DOMESTIC TRADE in goods amounted to P562.76 billion in the last three months of 2025, the Philippine Statistics Authority (PSA) said in its Commodity Flow in the Philippines report, citing preliminary data.

Trade in goods declined from the P632.02 billion recorded in the third quarter of 2025, the PSA said.

By volume, domestic trade was 9.85 million tons, much weaker than the revised 14.05 million tons recorded in the third quarter.

The PSA noted that total domestic trade measured by volume and value in the fourth quarter is not comparable to the year-earlier data, because of the inclusion of road transport system data starting in the first three months of 2025.

Goods traded by road in the fourth quarter were valued at P324.36 billion; those traded by water were worth P238.04 billion, while those traded by air amounted to P363.07 million.

Domestic trade by value is the outflow value of commodities transported from the place of origin to destination.

During the period, Calabarzon (Cavite, Laguna, Batangas, Rizal, and Quezon) accounted for 34.4% of domestic outflows with P193.23 billion . Inflows were valued at P83.12 billion.

Metro Manila accounted for 20.5% at P115.51 billion worth of goods. The region had the highest share of inflows at 26.6% with P149.83 billion worth of goods received.

Northern Mindanao accounted for 9.2% of domestic trade amounting to P51.90 billion with inflows valued at P58.52 billion.

Calabarzon also led the country in trade balance — the gap between outflow and inflow values — with P110.31 billion. It was followed by the Eastern Visayas with P29.21 billion, and the Negros Island Region with P12.32 billion. — Matthew Miguel L. Castillo