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Value of gold, copper, nickel, chromite reserves rises 4.6%

PHILSTAR FILE PHOTO

CLASS A gold, copper, nickel, and chromite reserves  were valued at P481.45 billion in 2024, up 4.6%, the Philippine Statistics Authority (PSA) said in a report.

Class A reserves are commercially recoverable mineral resources confirmed to be economically viable by a defined development project or operation.

The value of Class A gold reserves rose 22.7% to P213.74 billion in 2024, it said.

The value of Class A copper reserves increased 13.7% to P60.38 billion.

The PSA said the value of Class A chromite reserves more than doubled in 2024 to P1.35 billion from P645.90 million a year earlier. 

It said the value of Class A nickel reserves fell 11.3% to P205.97 billion.

The total resource rent of the four mineral resources was P56.86 billion, equivalent to 0.22% of gross domestic product.

The PSA said by volume, Philippine Class A gold reserves fell 6.6% to 357.11 thousand kilograms (kg) in 2024.

Gold extracted decreased 8% to 20.11 thousand kg.

The volume of Class A copper reserves rose 21.8% to 4.02 million metric tons (MT).

The PSA said extracted copper fell 14.2% in 2024 to 53.18 thousand MT.

Class A nickel reserves rose 28.6% to 612.98 million dry metric tons (DMT) in 2024.

Nickel extracted fell 0.7% to 32.13 million DMT.

The volume of Class A chromite reserves rose 1.2% to 66.34 million MT in 2024.

Chromite extracted more than doubled in 2024 to 63.02 thousand MT from 23.82 thousand MT previously. — Kyle Aristophere T. Atienza

PPP Center outlines rules for seeking opinions on PPP Code

PPP.GOV.PH

THE Public-Private Partnership (PPP) Center said it set guidelines for seeking the regulator’s opinion regarding the proper interpretation of the PPP Code.

The so-called non-policy matter (NPM) opinions will be issued upon request in the event of issues encountered in the course of participating in projects governed by the PPP Code.

In a statement on Tuesday, the PPP Center said the guidelines, published on Aug. 9, require parties seeking opinions to submit a letter signed by an authorized signatory, addressed to PPP Center Executive Director Ma. Cynthia C. Hernandez.

The letter should be sent to legalservice@ppp.gov.ph, together with relevant supporting documents and a certification agreeing to the terms and conditions.

The NPM category covers the center’s interpretation of the applicability of the PPP Code and its implementing rules and regulation, issuances, policies, or guidelines, the PPP said in a Memorandum Circular released on Aug. 5.

“Requests for NPM opinions may cover matters such as whether a project falls under the PPP framework, potential overlaps with other infrastructure projects, the need for government undertakings or availability payments funded by the General Appropriations Act, and contribution to joint ventures that exceed 50% of an implementing agency’s assets, among others,” the PPP Center said.

Under Section 7.1 of the 2024 Amended PPP Governing Board Protocols (PPPGBP), the PPP Center is authorized to issue NPM opinions on project-specific concerns involving legal and/or regulatory interpretation. — Aubrey Rose A. Inosante

LTFRB reviewing P2 PUJ fare hike petition 

PHILIPPINE STAR/MIGUEL DE GUZMAN

THE Land Transportation Franchising and Regulatory Board (LTFRB) said it is currently studying a petition seeking a P2 provisional fare increase for public utility jeepneys (PUJs).

“We are studying the petition in detail to ensure that any fare adjustment is fair, reasonable, and based on solid justification. Our goal is to balance the needs of the riding public and the sustainability of public transport operations,” LTFRB Chairman Teofilo E. Guadiz III said in a statement on Tuesday.

The LTFRB said the petitioners are Pasang Masda, the Alliance of Transport Operators and Drivers Association of the Philippines (ALTODAP), and the Alliance of Concerned Transport Organizations (ACTO). The petition covers fare adjustments for both traditional and modern PUJs.

This petition consolidates filings submitted between August 2023 and March 2025, LTFRB said, noting that the proposals range from base fare hikes to rate adjustments per succeeding kilometer.

According to the LTFRB, the petition wants an earlier P1 provisional fare hike granted in October 2023 declared permanent, and applied for an additional P2 provisional increase. This would bring the base fare to P15 from P13 for traditional PUJs and to P19 from P14 for modern PUJs. 

“We will listen to all sides before making a decision. This is part of our mandate to ensure transparent and participatory fare-setting,” Mr. Guadiz said. — Ashley Erika O. Jose

Bargain hunting, US-China truce lift PHL shares

BW FILE PHOTO

PHILIPPINE STOCKS inched up on Tuesday to snap their three-day losing streak as investors searched for bargains and amid the 90-day extension of the tariff truce between the United States and China. 

The benchmark Philippine Stock Exchange index (PSEi) rose by 0.56% or 35.49 points to close at 6,289.85, while the broader all shares index went up by 0.42% or 16.02 points to 3,751.27.

“The local market bounced back this Tuesday as investors hunted for bargains following three straight days of decline. The local bourse also joined many of its regional peers in cheering the extended tariff truce between the US and China,” Philstocks Financial Inc. Research Manager Japhet Louis O. Tantiangco said in a Viber message.

The United States and China have extended a tariff truce for another 90 days, staving off triple-digit duties on each other’s goods as US retailers get ready to ramp up inventories ahead of the critical end-of-year holiday season, Reuters reported.

The new order prevents US tariffs on Chinese goods from shooting up to 145%, while Chinese tariffs on US goods were set to hit 125% — rates that would have resulted in a virtual trade embargo between the two countries. It locks in place — at least for now — a 30% tariff on Chinese imports, with Chinese duties on US imports at 10%.

“The prospect of two more policy rate cuts from the Bangko Sentral ng Pilipinas (BSP) for this year helped in lifting sentiment,” Mr. Tantiangco added.

BSP Governor Eli M. Remolona, Jr. reiterated on Monday his outlook for two more reductions this year, with the first one likely to be announced at the Monetary Board’s Aug. 28 meeting. The policy rate is currently at 5.25%.

“The PSEi closed at 6,289.85, up by 0.56%, as today’s market was driven by bargain hunting as investors took advantage of recent days of decline, positioning ahead of potential catalysts,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.

“Market participants remain on the lookout for fresh developments that could sustain momentum in the coming sessions, with sentiment still cautious amid lingering US economic and Philippine corporate updates.”

Almost all sectoral indices closed higher. Holding firms went up by 1.14% or 59.70 points to 5,259.27; mining and oil jumped by 0.9% or 83.41 points to 9,347.03; property increased by 0.83% or 20.21 points to 2,428.51; services climbed by 0.76% or 17.63 points to 2,337.17; and industrials rose by 0.04% or 3.89 points to 8,915.79. Meanwhile, financials slipped by 0.28% or 5.97 points to 2,126.24. 

Value turnover increased to P13.73 billion on Tuesday with 756.75 million shares traded from the P7.1 billion with 908.82 million shares exchanged on Monday. 

Advancers beat decliners, 105 versus 84, while 53 names were unchanged.

Net foreign buying decreased to P239.51 million on Tuesday from P421.37 million on Monday. — Revin Mikhael D. Ochave with Reuters

Meta 2 Tbps allocation seen boosting connectivity of remote communities

Meta

THE Bases Conversion and Development Authority (BCDA) and the Department of Information and Communications Technology (DICT) said they expect the bandwidth allocation from Meta Platforms, Inc. to bring more remote communities online while enabling plans to build smart cities.

In a statement on Tuesday, BCDA said that it plans to harness the two terabit-per-second (Tbps) bandwidth allocation from Meta.

“Now that we have physical infrastructure in place, it’s time to activate its full potential,” BCDA President and Chief Executive Officer Joshua M. Bingcang said.

“The 2 Tbps bandwidth capacity presents a game-changing opportunity to bridge the digital divide, especially in far-flung areas and future smart cities like New Clark City,” he added.

According to the BCDA, the allocation from Meta builds on the 240-kilometer Luzon Bypass Infrastructure, which was constructed by the BCDA and overseen by DICT.

Currently, the DICT is utilizing 100 gigabits per second (Gbps) of capacity from the first phase of the National Fiber Backbone project.

“The planned activation of the full 2 Tbps represents a 20-fold increase in capacity, enabling nationwide, high-speed connectivity at an unprecedented scale,” the BCDA said.

In particular, Mr. Bingcang said the additional capacity will allow the government to “support millions of simultaneous high-speed connections, expand internet access across the country, and power the smart cities and digital industries of the future.”

The allocation from Meta is expected to accelerate the rollout of high-capacity internet to more government offices, schools, economic zones, and unserved and underserved communities.

“The allocation will form the backbone of the national broadband network, complementing other major subsea cable projects and local fiber deployments,” the BCDA said.

“The BCDA and DICT are currently finalizing technical arrangements, implementation timelines, and the long-term integration of the utilization of the 2 Tbps bandwidth into the country’s broadband strategy,” it added. — Justine Irish D. Tabile

NCR building materials prices retreat in July

PHILIPPINE STAR/ RUSSEL PALMA

THE wholesale price of construction materials in Metro Manila contracted to a nearly 16-year low in July, with concrete products driving the decline, the Philippine Statistics Authority (PSA) said in a report.

Citing preliminary data, the construction materials wholesale price index (CMWPI) in the National Capital Region (NCR) declined 0.3% year on year in July, reversing the 0.2% rise in June and the 0.5% expansion a year earlier.

The July reading was the weakest since the 1.8% contraction posted in October 2009.

Demand is weakening, inflation is easing and interest rates remain high, dampening construction activity, according to Jonathan L. Ravelas, senior adviser at Reyes Tacandong & Co.

“Builders are holding back, and prices of key materials like reinforcing steel and fuels have dropped,” he said via Viber.

In the seven months to July, Metro Manila’s CMWPI rose 0.2%, slowing from the 0.7% growth posted a year earlier.

“The downtrend in the annual growth rate of the CMWPI in the NCR was mainly caused by the annual drop of the heavily weighted index of concrete products at 0.6% in July 2025 from the 0.4% annual increase in the previous month,” the PSA said.

Similarly, tileworks prices eased 1.2% in July from 1.7% in June, followed by doors, jambs, and steel casement (0.5% from 0.6%), electrical works (0.3% from 0.5%) and plumbing fixtures and accessories/waterworks (0.5% from 0.6%).

Meanwhile, slower declines were logged in the following commodity groups: cement (-1.2% from -1.5%), reinforcing steel (-0.7% from -0.9%), structural steel (-1.9% from -2.2%), and fuels and lubricants (-3% from-3.4%).

Mr. Ravelas expects prices to stay soft unless demand picks up in the remainder of the year.

“If interest rates fall further and construction permits rise, we could see a rebound. But for now, it’s a buyer’s market for materials.”

In June, the Monetary Board lowered borrowing costs by 25 basis points  (bps) to bring the benchmark rate to 5.25%.

The Bangko Sentral ng Pilipinas slashed borrowing costs by a total of 125 bps since it began its easing cycle in August last year. — Heather Caitlin P. Mañago

Philippine military to plan next move after latest flare-up in Scarborough

SCREENSHOT of a China Coast Guard ship chasing Philippine boats carrying out a Kadiwa operation for Filipino vessels in Scarborough Shoal on Aug. 12. — PHILIPPINE COAST GUARD/JAY TARRIELA

By Kenneth Christiane L. Basilio and Adrian H. Halili, Reporters

THE PHILIPPINE military will hold a strategic conference to plan its next moves in the South China Sea, after a Chinese coast guard vessel and navy warship attempted to ram a Philippine boat near Scarborough Shoal, Manila’s top general said on Tuesday.

Talks would likely include the possible deployment of warships or holding joint sails alongside allies to the South China Sea as response to China’s increasing assertiveness in the disputed waters, Philippine military chief General Romeo S. Brawner, Jr. said.

“We will be holding a conference within our ranks in the Armed Forces of the Philippines, together with the Philippine Coast Guard (PCG), and of course, we will also seek guidance from our President,” he told reporters in Filipino.

“We will discuss the possible steps we can take and our future tactics to counter what China is doing to prevent us from approaching Bajo de Masinloc,” he added, referring to Scarborough by its Filipino name.

Chinese ships have repeatedly barred Filipino fishermen from accessing Scarborough Shoal, which lies within Manila’s 200-nautical mile (370 kilometers) exclusive economic zone. The atoll is a vast fishing lagoon near major shipping lanes that China seized in 2012 after a standoff with Philippine troops.

The shoal is 240 kilometers west of the main Philippine island of Luzon and is nearly 900 kilometers from Hainan, the nearest major Chinese landmass.

A Chinese navy ship collided with a smaller China Coast Guard (CCG) vessel on Monday as the latter was chasing a PCG ship, carrying out a mission to buy fish directly from Filipino fishers at the shoal.

The incident was the latest flare-up in the long-standing dispute between the Philippines and China in the South China Sea, a key global trade route that is believed to be rich in minerals and oil deposits.

The CCG argued it was taking “necessary measures — including tracking, monitoring and blocking — to expel the Philippine vessels,” according to an Aug. 11 article published by Chinese news outlet Xinhua. China asserts a sweeping claim over the South China Sea based on its so-called nine-dash line, which overlaps with the exclusive economic zones of countries like the Philippines, Vietnam, and Malaysia.

A 2016 ruling by a United Nations-backed tribunal in The Hague voided Beijing’s claim, but China has rejected the decision and maintains significant naval presence in contested areas, including the Spratly Islands and Scarborough Shoal.

“We can see that China’s tactics are changing,” said Mr. Brawner. “They are now deploying their People’s Liberation Army — Navy ships, which is a symbol of China’s growing aggressiveness.”

He said the Philippine government has contingency plans in case a Filipino sailor gets hurt or killed by the Chinese navy. “We have actions that we will do.”

Meanwhile, Philippine Rear Admiral Roy Vincent T. Trinidad, navy spokesman for the South China Sea, said the military is prepared to respond “if needed and when needed.”

“We are prepared for any eventuality.”

The military is not authorized to use force except for “self-defense situations” when patrolling the South China Sea, said Mr. Trinidad.

He said similar incidents like what happened on Monday could happen again if China continued to conduct what he called as “illegal, coercive, aggressive and deceptive.”

President Ferdinand R. Marcos, Jr. on Monday said that he will not instruct Philippine vessels to back out as the Philippine government “does not withdraw from battles.”

The Department of Foreign Affairs (DFA) on Tuesday condemned the dangerous and unlawful maneuvers by the two Chinese vessels that disrupted a humanitarian mission for Filipino fisherfolk in the South China Sea.

“Their actions not only posed a grave danger to Philippine personnel and vessels, but also resulted in the unfortunate collision between the two Chinese vessels,” the DFA said in a statement.

The DFA has also stressed the need to follow international maritime rules like the 1972 International Regulations for Preventing Collisions at Sea (COLREGS) and the 1974 Safety of Life at Sea Convention (SOLAS).

“The Philippines has repeatedly emphasized the importance of maritime safety, and is prepared to work with relevant parties to draw lessons from this incident,” the agency said.

It added that the Philippines will continue to utilize diplomatic avenues for dispute resolution ongoing the South China Sea.

“The Philippines remains keen in utilizing diplomacy and dialogue to address differences and produce positive outcomes, in line with the President’s instruction to manage the situation in the (South China Sea) constructively and settle disputes peacefully,” the DFA said.

The agency added that the Philippines will maintain its presence in the disputed waterways to “unstintingly assert and protect its sovereignty, sovereign rights, and jurisdiction in accordance with international law.”

The DFA had also commended the actions of the PCG personnel, who offered assistance to the two Chinese vessels after the collision.

“Conscious of its obligations to render assistance in times of distress at sea and its mandate under its jurisdiction, the Philippines without hesitation offered medical aid and other relevant support to the Chinese side, including towing the damaged China Coast Guard vessel out of the area to ensure the safety of navigation for other vessels,” it added.

Gov’t urged to rein in spending, stick to fiscal plan amid debt concerns

A worker inspects peso bills inside a money changer in Manila. — REUTERS

THE PHILIPPINE government should stick to its fiscal consolidation plan and temper spending to ease fiscal strain, a congressional think tank said, warning that the country is “borrowing its way to growth.”

In an August report, the Congressional Policy and Budget Research Department (CPBRD) said the government risks diverting more funds to debt servicing at the expense of public programs in the future if current spending levels persist.

The government’s debt service program for this year is set at P2.051 trillion, based on the 2025 Budget of Expenditures and Sources of Financing.

“The Philippines is not outgrowing its debt,” the CPBRD said in a 24-page report by David Joseph Emmanuel Barua Yap, Jr., Jhoanne E. Aquino, and Rutcher M. Lacaza. “It appears to be borrowing its way to growth.”

“For every new peso of economic output, the government has added a proportional amount of debt, preventing the critical debt-to-GDP (gross domestic product) ratio from improving,” it added.

The CPBRD said that years since the Philippines moved past the coronavirus-related lockdowns, the government has retained its “pandemic-era” borrowing and spending patterns.

The Philippines’ debt-to-GDP ratio rose to 63.1% as of end-June, the highest since 2005, government data showed. This is above the 60% threshold considered by multilateral lenders to be manageable for developing economies.

The government aims to bring the debt ratio to 60.4% by yearend, and 56.9% by 2028.

Outstanding debt hit a record P17.27 trillion, as of end-June.
The Philippine economy expanded by 5.5% from April to June 2025, up from 5.4% in the first quarter, but was slower than the 6.5% growth in the same period last year.

Government resources were poured into health services during the coronavirus pandemic, with economic revival efforts later focused on massive infrastructure spending, leading to debt as a share of GDP ballooning to the current level from 39.6% in 2019.

Instead of creating new taxes or raising existing ones, the government should “live within its means” and moderate spending to ease its debt burden, the congressional think tank said.

“Burdening the private sector with a greater tax burden may prove counterproductive as it would constrain economic activity and hamstring economic growth,” it said. “It bears repeating that the Philippine economy is largely driven by demand — and taxes almost invariably reduce demand.”

FISCAL GUARDRAILS
Policymakers should impose fiscal guardrails to curb overspending, the CPBRD said, recommending that the national budget should not exceed 150% of revenue collections for three straight years, or that deficit spending be capped below a fixed threshold.

The Executive is set to submit to Congress on Aug. 13 the proposed P6.793-trillion spending plan for 2026, which is 7.4% higher than this year’s allocation and equivalent to 22% of the GDP.

“The magnitude of the proposed 2026 budget, and the accompanying budget deficit further reinforces concerns regarding the deficit-to-GDP ratio,” the CPBRD said.

From January to June, the government’s budget deficit widened 24.69% to P765.5 billion.

Still, the think tank sees the Philippines bringing its debt-to-GDP ratio below 60% by 2027, below the internationally accepted threshold provided economic growth holds, inflation stays contained and fiscal discipline is improved.

In its low-end scenario, the CPBRD sees debt falling to 61.1% of GDP by end-2025, then gradually easing to 60.6% in 2026, 59.6% in 2027, and 58.2% in 2028.

Meanwhile, its high-end scenario estimates the debt-to-GDP ratio dropping to 61.4% by yearend, 60.9% in 2026, 59.9% in 2027 and 58.5% in 2028.

“These projections are predicated on high economic growth, brisk revenue expansion, favorable macroeconomic conditions and the moderation of deficit spending as well as borrowing,” the think tank said. — Kenneth Christiane L. Basilio

Contractors for flood control projects to face stricter vetting

President Ferdinand R. Marcos, Jr. At a press conference during the launch of the “Sumbong sa Pangulo” website in Malacañan Palace on Aug. 11. — PHILIPPINE STAR/NOEL B. PABALATE

THE GOVERNMENT will enforce a stricter vetting process for contractors handling flood control projects, Malacañang said on Tuesday, as President Ferdinand R. Marcos, Jr., launched a new website allowing Filipinos to track and report issues related to the projects.

“We will be stricter, which is why our President issued a statement yesterday,” Palace Press Officer Clarissa A. Castro told a news briefing in Filipino.

“We have found that some contractors were already blacklisted before but simply changed their names, and yet now seem to be thriving again.”

Since taking office in July 2022, the Marcos administration has implemented about P545 billion worth of flood control projects, but 6,021 of them — valued at roughly P350 billion — lacked clear specifications on the type of structures being built or rehabilitated, the President revealed on Monday.

Fifty of these projects, spread across various locations, had identical contract amounts, raising questions over possible uniform pricing or irregularities.

Out of 2,409 contracting firms, just 15 companies cornered around P100 billion, or 20% of the total allocation, with several operating in nearly every region of the country.

President Marcos earlier noted that these findings are not yet accusations but stressed the need for further investigation.

Ms. Castro said the investigation into irregularities in flood control projects will be led by the Department of Economy, Planning and Development through its Regional Project Monitoring Committees (RPMC).

The Department of Public Works and Highways will continue to provide the records of all the projects. The Department of Budget and Management, Department of the Interior and Local Government, and the Office of the President-Presidential Management Staff will also cooperate.

Meanwhile, Senate President Francis “Chiz” G. Escudero on Tuesday denied any involvement in the company of his campaign donor, which was among those identified in the President’s list.

“For the record, I have nothing to do with identifying, creating a program of work, bidding, awarding, housing, paying, or inspecting any government project, whether in Sorsogon or outside the province of Sorsogon,” Mr. Escudero told a news briefing.

“I am not a contractor. I have not been part of any business related to construction or government supply since I joined the government in 1998,” he added.

A recent report had linked the Senate chief to Lawrence R. Lubiano, the president of Centerways Construction and Development Inc., who contributed about P30 million to Mr. Escudero’s 2022 campaign fund.

The company was included in Mr. Marcos’ top 15 firms who was able to receive the largest chunk of the country’s flood control projects.

He confirmed that Mr. Lubiano was a “friend” and donated to his campaign in 2022, but denied that he had helped him bag government contracts.

Mr. Escudero said that most of the projects by the firm was acquired when he was not a Senator.

“In fact, the larger portion of the funds that the contractor from Sorsogon allegedly gotten was obtained by him before I became a Senator again in 2022,” he added.

He also alleged that there is a “demolition job” against him by parties supporting the impeachment of Vice-President Sara Duterte-Carpio.

“There is a demolition PR (public relations) job lined up against me and as a fellow senator warned, this will be done to ensure I am removed from office and when the impeachment is filed again, I will no longer be here by Feb. 6,” he said.

The Senate chief had called the timing of the story’s release as “malicious.”

“Clearly, the article is malicious. The release was carefully timed and planned, even if it contained nothing that directly accused me of wrongdoing. The insinuation and innuendo is still there,” Mr. Escudero had pinned the PR hit job on him to members of the House of Representatives

Last week, the Senate had voted to “archive” the impeachment case of Ms. Duterte, following the Supreme Court ruling it as unconstitutional. Archiving the case means it could be reopened later with majority approval.

Mr. Escudero had also been under fire for allegedly delaying the impeachment proceeding of the Vice-President. — Chloe Mari A. Hufana and Adrian H. Halili

DILG bars personnel, LGUs from online gambling

A person holds cards near a keyboard, chips and dice in this illustration picture. — REUTERS/DADO RUVIC/ILLUSTRATION

By Chloe Mari A. Hufana, Reporter

THE Department of the Interior and Local Government (DILG) has barred officials and employees of its central and field office, attached agencies, and local government units (LGUs) from accessing or engaging in any forms of online gambling.

This directive, under Memorandum Circular 2025-082, expands the existing prohibition on casino gambling to also cover digital platforms.

The policy follows reports of public officials participating in online betting.

The circular underscored that “public office is a public trust,” emphasizing that involvement in online gambling undermines institutional credibility and detracts from the duty of public servants to act with integrity, competence, and loyalty.

The circular, which takes effect immediately, provided that any DILG staff or local government employees found violating this ban will be subject to administrative and/or criminal sanctions under applicable laws and ethical guidelines.

Among the attached agencies covered are: the Philippine National Police, Bureau of Fire Protection, Bureau of Jail and Management Penology, National Youth Commission, Philippine Commission on Women, National Commission on Muslim Filipinos, Philippine Public Safety College, and National Police Commission among others.

This comes ahead of President Ferdinand R. Marcos, Jr’s consultation with stakeholders on the country’s online gaming policy.

Palace Press Officer Clarissa A. Castro told reporters in a briefing on Tuesday that the meeting with concerned stakeholders on a new e-gaming policy has not been scheduled yet but may possibly be within August.

“The President will set a schedule to meet with all concerned parties to ensure a thorough study on online gaming,” Ms. Castro said in Filipino, adding that the timeline would depend on the President’s availability.

The Philippine government is in the process of deliberating its 2026 spending plan, as the Department of Budget and Management (DBM) presented its plan to the Presidential Palace on Aug. 12. The department will turn the budget over to Congress on Aug. 13 for its deliberation.

Online gaming has become a major funding source for social projects in the Philippines, with revenues now accounting for more than half of the Philippine Amusement and Gaming Corporation’s (PAGCOR) gross income.

For the first half of 2025, revenue from e-gaming amounted to P114.83 billion in the first six months, up 81.78% and generating 53.47% of all gross gaming revenue, PAGCOR reported last July.

PAGCOR remits a portion of these earnings to the National Treasury and channels funds to community projects, including disaster relief, patient transport vehicles, medical equipment, and infrastructure such as sports complexes and multi-purpose centers.

This rapid growth has made e-gaming a key contributor to nation-building programs and public services, even as debates over its regulation continue.

Mr. Marcos earlier said he prefers tighter regulations on online gaming versus a total ban. He, however, skipped the subject in his last address to Congress last July 28.

Ms. Castro also clarified the President’s earlier remark that a total ban on online gaming “would be bad” for the country, saying the Chief Executive was stressing the need for careful study rather than rushing into a policy shift.

“The President said that the problem is not the act of gambling itself, but gambling addiction, and that’s what we should address,” she added. “That is his opinion for now, but if consultations later show there’s a need for a ban, the President will follow that recommendation.”

Earlier this week, economic managers echoed the President’s view on tighter regulation, not a total ban, on online gaming, citing the need for oversight and the revenue potential.

The Bureau of Internal Revenue (BIR) collects a 5% franchising fee from gaming operators. Its commissioner earlier said it might miss its target collections this year if a total ban happens.

The e-gaming remittance rate is currently at 30%, with a 25% charge on integrated resorts.

Signal No. 1 up in Batanes — PAGASA

TYPHOON GORIO (PODUL) 5:00 PM, 12 August 2025 — FACEBOOK.COM/PAGASA.DOST.GOV.PH

THE PHILIPPINE weather bureau on Tuesday hoisted storm signal No. 1 in the northernmost province of Batanes as Typhoon Podul, locally named Gorio, maintains its strength.

Podul was spotted 440 kilometers east of Itbayat, Batanes as of 4 p.m., moving west northwestward at 25 kilometers per hour (kph), the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) said in its 5 p.m. bulletin, published on Facebook.

It was packing maximum sustained winds of 120 kph and gustiness of up to 150 kph, the agency added.

“Based on the current forecast scenario, the highest possible Wind Signal that may be hoisted is Wind Signal No. 2 in Batanes,” it said.

“Furthermore, should there be a southward shift in the track forecast and changes in radius, the expansion of areas under Wind Signals is possible.”

The typhoon was expected to exit the Philippine area of responsibility by Wednesday afternoon or evening, PAGASA said. — Kyle Aristophere T. Atienza

PHL-Japan RAA takes effect in Sept.

Secretary of Foreign Affairs Ma. Theresa P. Lazaro and Japanese Ambassador ENDO Kazuya exchanged the diplomatic notes on the entry into force of the Philippines-Japan Reciprocal Access Agreement — DFA

THE Reciprocal Access Agreement (RAA) between the Manila and Tokyo is scheduled to take effect on Sept. 11 this year, as both countries conducted a ceremonial exchange of notes on Tuesday.

“30 days from now, the RAA will enter into force. Not only will this be an important step in our concerted efforts to enhance our 69 years of bilateral relations,” Philippine Foreign Affairs Secretary Theresa P. Lazaro said during the livestreamed ceremony.

“It will also signify Japan’s commitment to the Philippines efforts to advance our defense capabilities in support of the Philippines’ firm assertion of its sovereign rights,” Ms. Lazaro added.

The RAA, signed by Manila and Tokyo in July last year, allows for the entry of equipment and troops for military drills and disaster responses on each other’s soil.

It was ratified by the Philippine Senate in December 2024, while Japan’s National Diet ratified it in early June.

“This swift and decisive progress speaks to the urgency and strategic value both nations attach to our security and defense cooperation,” Japanese envoy Endo Kazuya said.

In a separate media briefing earlier in the day, Philippine military spokeswoman Col. Francel Margareth Padilla-Taborlupa said that the agreement will enhance bilateral operations and military operations of both countries.

“And we have been showing this as something that is really very important to enhance our capabilities in the Armed Forces of the Philippines as well,” she added.

The Philippines has been increasing efforts to counter China’s expansive claims in the South China Sea, by bolstering defense partnerships with countries like the US, Japan, and Canada.

The Philippines and China have repeatedly clashed over disputed South China Sea features, fueling tensions as both uphold their claims in the vital trade route.

For his part, Defense Secretary Gilberto C. Teodoro, Jr. said that the RAA could provide deterrence to “actors who may not see things the way we do and may not share our values.”

He added that the partnership would improve resilience in defense industrial partnerships, connectivity, infrastructure, technology, and knowledge.

“I look forward to the conclusion, speedy conclusion, and I urge both sides to speedily conclude the component agreements that we need into making the RAA fully implementable,” Mr. Teodoro said. — Adrian H. Halili

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