SEOUL — North Korean leader Kim Jong Un appears to be taking steps to consolidate his daughter’s position as successor, and there are signs she is providing input on policy matters, South Korean lawmakers said on Thursday, citing a spy agency briefing.
South Korea’s National Intelligence Agency (NIS) will be closely watching whether the daughter, believed to be named Kim Ju Ae, attends an upcoming meeting of the ruling Workers’ Party and how she is presented, including whether she takes on any official title, the lawmakers said.
“In the past, the NIS described Kim Ju Ae as being ‘in study as successor’ but today the expression used was that she ‘was in the stage of being internally appointed successor,’” lawmaker Lee Seong-kweun told reporters following a closed-door briefing from the NIS.
Ms. Ju Ae, who is believed to be in her early teens, has been increasingly prominently featured in North Korea’s state media accompanying her father on field guidance including inspections of weapons projects amid speculation by analysts that she is being groomed as the country’s fourth-generation leader.
The NIS believes the role she has taken on during public events indicates she has started to provide policy input and that she is being treated as the de facto second-highest leader, Mr. Lee and another lawmaker Park Sun-won said.
North Korea has announced the Workers’ Party will convene the inauguration meeting of the ninth Congress in late February, an event that analysts believe will unveil major policy goals for coming years on the economy, external affairs and defense.
Mr. Kim is directing the development of a large submarine that is likely capable of carrying up to 10 submarine-launched ballistic missiles and which, considering the vessel’s displacement of 8,700 tons, may be designed to be powered by a nuclear reactor, Mr. Park and Mr. Lee said.
It remains unclear, however, whether it will be nuclear powered or operationally functional as designed, the lawmakers said, citing the spy agency’s analysis. — Reuters
CDO Foodsphere President and CEO Jerome D. Ong. — BUSINESSWORLDTV YT CHANNEL
Family values and customer insight are among the key factors that drive CDO Foodsphere, Inc.’s longevity. According to president and CEO Jerome D. Ong, listening to the market was what led them to some of their bestsellers, like the jumbo hotdog with cheese.
“We noticed that many consumers eat their hot dogs with cheese, so we said, why don’t we save them the trouble of looking for cheese to put on their hot dogs?” he said in an October 2025 interview.
The first cheese dog, which came in a clear-colored casing, was offered from 1993 to 1994. The red-colored variant debuted between 2007 to 2010.
“When it comes to cheese hotdogs, I’m pleased to share that we’ve been the market leaders for a long time,” he added.
CDO was founded 50 years ago by Ong matriarch and Mr. Ong’s mother, Corazon D. Ong.
Her purpose was not to build a company but rather help augment the family income. The business started small, operating from home, after Ms. Ong took short courses on making longganisa(a Filipino sausage) and tocino (a cured pork dish). Her husband Jose joined her in the business a few years after.
Mr. Ong now runs the company together with his siblings Charmaine, who handles corporate purchasing and treasury, and Jason, who heads both corporate social responsibility and the emerging business arm.
CHALLENGES AND LESSONS The company learned lessons borne from challenges over the years, Mr. Ong said.
The first is the “big headache” of credit risk.
“When we were rather small, uncollected debts really put pressure on our cash flow and finances,” he told BusinessWorld. “We learned to put control measures in place to establish credit limits, [and] to do our due diligence before extending credit.”
Another is supply chain issues, such as logistical disruptions that increased shipping time by up to 20 days which led to the company diversifying its source of raw materials like meat.
A third one is the war on talent, which prompted the company to improve its hiring process and retention program.
Their staff care about the company because management demonstrates that it cares for their welfare, Mr. Ong also said.
During the pandemic, he said, CDO operated at full throttle, so everyone who wanted to work was able to. Food, vitamins, and transportation were likewise provided for.
“If we want our people to have malasakit [the Filipino value of showing concern and empathy], we have to walk the talk and show that we have malasakit for them,” he added.
RESEARCH AND INNOVATION The biggest ongoing challenge, however, is market competition.
“We continue to stay relevant by developing products – or improving existing products – to meet the evolving preferences of consumers,” Mr. Ong said.
One insight gleaned from the company’s market research, for instance, led to the formulation of its Karne Norte corned beef.
“Research told us that it’s not just the taste of the product that attracts customers,” he told BusinessWorld. “Aroma is an important factor too, because once the consumer opens the can, the first thing he or she notices is the aroma, so we made sure that Karne Norte had that flavorful aroma.”
Another insight came from the dwindling sales of its now-shelved hamonado (flavored smoked pork sausage), which used to be a bestseller in the 1990s.
When it gradually lost its relevance as new types of longganisaemerged in the market, the company tried to revive sales of the hamonadoby offering promos and samplings, but to no avail.
“We can keep on nurturing a brand, but we cannot fall in love with it,” Mr. Ong said. “When the market says, ‘time is up,’ we just have to pull the plug and move on.”
CDO’s goal is for its brands to be patronized by nine out of 10 Filipino households in five years, up from the current six out of 10.
Mr. Ong says this goal, as well as the challenge of taking on the future, is doable with the guidance of the core family values that brought them to where they are.
“The most successful companies continue to thrive and flourish and enter new avenues of growth even after the founders have retired,” he said.
“What’s important for us is to prepare the next generation of family members, the next generation of leaders, to future-proof the company for the next 50 years and beyond.” — Patricia B. Mirasol
MOOI RIVER — South Africa’s beef exports fell 26% in 2025, despite growing global demand, partly due to China’s ban on the African country’s red meat products as it battles its worst foot-and-mouth disease outbreak in recent memory.
The country has faced resurgent foot-and-mouth infections since early 2025 when the disease spread to seven of its nine provinces.
Beef shipments to China fell 69% to 1,687 metric tons last year following the ban imposed in May, according to statistics from industry body Red Meat Industry Services (RMIS) seen by Reuters on Wednesday.
China was South Africa’s third biggest external market in 2024 after the United Arab Emirates and Jordan.
When the highly contagious viral disease broke out on James Kean’s dairy farm in Mooi River late January, his normal seasonal farm expenses had increased by 1 million rand ($62,985.38) as he fought to keep infections out.
Mr. Kean says some of his peers have spent three years’ worth of veterinary products in just one month.
Milk production on his farm declined to about 23,000 liters a day from about 26,000 liters within days of the outbreak, as infected cows eat less and are less productive.
“The cost to the economy is enormous. The (national) livestock population could halve in two years, in which case food prices are going to rise as well,” Mr. Kean told Reuters during a visit to his farm.
Mr. Kean complains that the government has failed to contain the disease, a concern shared by many farmers.
The government plans to vaccinate 80% of South Africa’s national herd, which is estimated at 12 million cattle.
On February 6, it rolled out South Africa’s first foot-and-mouth vaccine in 20 years as it seeks to ease shortages of the inoculation doses.
The country is currently importing most of its foot-and-mouth vaccines from Botswana, Turkiye, and Argentina.
“We are hit now by one of the worst outbreaks at a time when we don’t have the capacity to produce the vaccines that are required,” agricultural economist Wandile Sihlobo told Reuters. — Reuters
MANCHESTER — Britain’s economy barely grew in the final quarter of 2025 as activity fared worse than initially estimated during the run-up to finance minister Rachel Reeves’ budget, official figures showed on Thursday.
Gross domestic product grew by 0.1% in the October-to-December period, the same slow pace as in the third quarter, the Office for National Statistics said.
Economists polled by Reuters, as well as the Bank of England, had forecast 0.2% fourth-quarter growth compared with the previous three months.
The period was marked by rampant speculation about tax increases ahead of Ms. Reeves’ budget on November 26. The ONS revised down monthly GDP data for the three months to November to show a 0.1% contraction rather than 0.1% growth.
Some more recent data have suggested that uncertainty has lifted for consumers and businesses.
“Looking at various surveys, there were some tentative signs that sentiment turned a corner and started to improve after the budget last year, which could help deliver a pick-up in activity this year,” Luke Bartholomew, deputy chief economist at Aberdeen, said.
“However, recent political uncertainty may see that sentiment bounce reverse.”
Prime Minister Keir Starmer has had to fight to keep his grip on Downing Street this week due to fallout from the Jeffrey Epstein scandal.
Thursday’s figures underscored why investors think that the Bank of England is more likely than not to cut interest rates again in March.
The monthly GDP data showed a sharp downward revision to growth.
The data suggested hesitancy on the part of businesses during the fourth quarter as their investment fell by almost 3% – the biggest quarter-on-quarter drop since early 2021, driven largely by volatile transport investment.
Economist Thomas Pugh at tax and consultancy firm RSM said the overall weakness in business investment suggested budget uncertainty held back investment and spending.
Manufacturing was the biggest driver of the increase in output, despite the fact that car output was still recovering from September’s cyber attack on Jaguar Land Rover, while the dominant services sector was flat. Construction output contracted by 2.1%.
In 2025 as a whole, Britain’s economy grew by an annual average 1.3%, the Office for National Statistics said, compared with 0.9% in France, 0.7% in Italy and 0.4% in Germany.
British economic growth per head contracted by 0.1% for a second quarter, although it rose by 1.0% for 2025 as a whole.
In December alone, the economy grew by 0.1%, the ONS said, as expected in the Reuters poll. That left the size of the economy back at its level of June 2025. — Reuters
TOURISTS visit Wat Arun Ratchawararam Rathawaramahawihan in Bangkok in January. — BLOOMBERG
HONG KONG/BEIJING — More Chinese tourists are expected to travel overseas during next week’s extra-long Lunar New Year break, with top destinations ranging from Russia and Australia to Thailand and South Korea, travel agencies say, but Japan has lost some sheen.
The Lunar New Year, or Spring Festival, is one of China’s longest holidays, running for nine days this year from February 15, or a day longer than usual, to usher in the Year of the Horse in the Chinese zodiac.
Millions traditionally head home for family reunions during this time, boosting spending in shops, cinemas and restaurants as families nationwide and overseas celebrate together.
RECORD TRIPS EXPECTED OVER 40-DAY TRAVEL RUSH China expects a record 9.5 billion passenger trips during the accompanying 40‑day travel rush, up from 9.02 billion last year, as officials hope this year’s longer event spurs more holidaymakers to make domestic visits or venture abroad.
“Thailand has returned to being the top outbound destination thanks to its weather, when most parts of China remain cold,” said Zhou Weihong, of Shanghai‑based Spring Tour, the travel unit of budget carrier Spring Airlines 601021.SS.
Amid an uncertain economic outlook, many appear to be hoping to leave their troubles behind, however briefly. A prolonged property downturn has eroded household wealth, while uneven growth after the COVID-19 pandemic, has fueled job insecurity.
Studies show Chinese consumers are prioritizing spending on experiences, with consultants McKinsey’s saying in an August market update, “Consumers appear to have quietly moved on … highlighting deeper shifts in how China consumes.”
Domestic leisure demand this year is also split between warm and snowy destinations, with trips to the tropical island of Hainan and northeastern Changbai Mountain popular, added Zhou, a deputy general manager at Spring Tour.
Bookings to Russia on its platform have more than doubled from last year, as have trips to northern Europe.
“For the rest of the year, we’ll probably see increased Chinese travel to Russia,” said Sienna Parulis‑Cook, marketing and communications director of Dragon Trail Research.
She attributed its popularity, rising off a low base, to Moscow’s December move to waive visas for visitors from China.
REBOUND DRIVES UP NUMBERS VISITING AUSTRALIA China’s largest travel booking site, Trip.com Group, said a rebound in long‑haul travel has driven up visitors to Australia by more than 100% over the year-earlier period.
Seat capacity on international flights during the holiday period, both inbound and outbound, has risen 9% on the year, aviation intelligence firm IBA said.
“The international market is playing an increasingly important role in Spring Festival travel,” it said in a report ahead of the break, adding that available seat kilometers on international flights now make up about half of total capacity.
But for other destinations, the picture is not all rosy.
Simmering political tension with Japan has eroded its appeal for Chinese visitors, who normally made it a top choice.
Flight data for 2026 shows travel to Japan has dropped sharply amid the strained ties and China’s safety warnings to its travelers, prompting airlines to broaden refund and change policies for Japan routes.
In the week starting on February 2, flights between China and Japan were down 49.2% from a year earlier, said travel data provider Flight Master.
And all flights have been cancelled on 58 routes that operated during last year’s Spring Festival, when Trip.com ranked Japan among the most popular overseas destinations, alongside Thailand and other regional markets. — Reuters
Okada Manila has once again secured the coveted Forbes Travel Guide 5-Star rating for the 7th consecutive year.
Okada Manila has once again secured the coveted Forbes Travel Guide 5-Star rating, extending its distinction to seven consecutive years. Okada Manila remains the Philippines’ largest integrated resort awarded Forbes Travel Guide 5-Star status across the entire facility. In the same announcement, The Retreat Spa at Okada Manila earned its fourth consecutive Five-Star recognition, underscoring the resort’s continued excellence across both hospitality and wellness.
“This recognition affirms our commitment to delivering meaningful and memorable guest experiences at every touchpoint,” said Robert Scott, Vice-President for Hotel Operations at Okada Manila. “We are especially proud to be the only integrated resort in the Philippines where our spa, as well as every hotel room is Forbes Travel Guide Five-Star accredited. This reflects our unwavering dedication to consistent service excellence.”
Forbes Travel Guide conducts independent, anonymous inspections of the world’s most respected hospitality destinations, with service quality as the most critical benchmark. Maintaining a 5-Star rating year after year reflects exceptional consistency, operational discipline, and an unwavering dedication to guest satisfaction.
At Okada Manila, this distinction reflects a fully integrated guest journey — where accommodations, dining, entertainment, leisure, and wellness experiences operate seamlessly.
At Okada Manila, this distinction reflects a fully integrated guest journey — where accommodations, dining, entertainment, leisure, and wellness experiences operate seamlessly to deliver a unified 5-star standard across the resort. This experience is defined by the resort’s distinctive service philosophy, where the precision and attentiveness associated with Japanese excellence are balanced by the warmth and graciousness of Filipino hospitality.
At The Retreat Spa at Okada Manila, the Forbes Travel Guide 5-Star rating recognizes outstanding performance in bespoke service, holistic treatments, world-class facilities, and meticulous attention to detail — delivering restorative wellness experiences designed to inspire relaxation, balance, and renewal.
As Forbes Travel Guide continues to evaluate properties annually against the world’s leading hospitality brands, Okada Manila remains measured by the same international standards applied to the finest resorts globally — ensuring guests enjoy service that is consistent, reliable, and truly world-class.
In the same announcement, The Retreat Spa at Okada Manila earned its fourth consecutive 5-Star recognition for its bespoke service, holistic treatments, premier facilities, and meticulous attention to detail — delivering restorative wellness experiences designed to inspire relaxation, balance, and renewal.
Global Recognition Across Integrated Resort Excellence
Beyond its Forbes Travel Guide accolades, Okada Manila continues to earn international recognition for leadership across integrated resort hospitality. In 2025, the resort was named Best Integrated Resort Asia at the Asia Gaming Awards and received Corporate Social Responsibility of the Year at the Global Gaming Awards Asia-Pacific, highlighting its commitment to both exceptional guest experiences and responsible operations.
The resort also garnered global recognition for meetings and events excellence, receiving Best Meetings and Convention Hotel in the Philippines at the TTG Travel Awards and Philippines’ Best Incentive Hotel at the World MICE Awards. Culinary achievements were likewise celebrated, with Ginza Nagaoka earning MICHELIN Selected recognition and La Piazza receiving the Best of Award of Excellence from Wine Spectator.
Additional honors — including TripAdvisor Travelers’ Choice Awards, Booking.com guest review recognition, Best Sustainability Program awards for Okada Green Heart, and Best Poker Room in an Integrated Resort at the Inside Asian Gaming Awards — further reinforce Okada Manila’s leadership across guest satisfaction, sustainability, and gaming excellence.
Together, these recognitions affirm Okada Manila’s position as one of Asia’s leading integrated resorts, delivering exceptional experiences across hospitality, dining, events, gaming, and entertainment.
ABOUT OKADA MANILA
Okada Manila, a Forbes 5-star destination for six consecutive years in the Philippines and a Forbes VERIFIED Responsible Hospitality integrated resort, seamlessly blends unmatched hospitality, gaming, and entertainment across 30 breathtaking hectares. Known for its unique service philosophy, Okada Manila combines the warmth of Filipino hospitality with the precision of Japanese excellence, ensuring every guest feels truly special.
Guests can marvel at The Fountain, a world-renowned water choreography masterpiece, or enjoy the expansive gaming floor — the largest in the Philippines — featuring a wide array of table games and electronic gaming machines. Exclusive clubs like Perlas, Maharlika, and the VIP Club offer elite gaming experiences for discerning guests.
For families, PLAY Kids’ Club and Thrillscape provide exciting and engaging entertainment options designed to cater to both developmental and recreational needs. The Sole Retreat and the Forbes 5-star-rated The Retreat Spa offer sanctuaries promoting wellness and relaxation. Culinary delights await at over 40 dining venues, and a variety of shopping options at The Promenade ensure convenience and a premium experience at your fingertips.
Business travelers will find state-of-the-art facilities for meetings, incentives, conferences, and exhibitions (MICE), offering well-appointed spaces equipped with the latest technology. Cove Manila serves as an exclusive venue for private events, providing a stunning backdrop for special occasions under a UV-protected dome. The Okada Manila Entertainment Group (OMEG) brings world-class performances to life, enriching the vibrant entertainment landscape.
Guests can stay in one of 1,001 accommodations, each designed for comfort and sophistication. Digital innovations, including the Okada Online Casino and the Okada Manila App, make it easier than ever to enjoy the integrated resort’s offerings.
Unforgettable moments await at Okada Manila. Visit www.okadamanila.com to explore.
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A MAN pushing a loaded trishaw in Dhaka, Bangladesh. — ADLI WAHID-UNSPLASH
DHAKA — Bangladeshis lined up outside polling booths on Thursday as voting began for what many say is a pivotal election for the South Asian nation, marking a return to democracy after the 2024 ouster of long‑time premier Sheikh Hasina in a Gen Z‑driven uprising.
Analysts say a decisive result is crucial for steady governance in the nation of 175 million, as the deadly anti-Hasina protests triggered months of unrest and disrupted key industries, including the garments sector, the world’s second-largest exporter. It is the world’s first election after a revolution led by under-30s, or Gen Z, to be followed by Nepal next month.
The contest pits two coalitions led by former allies, the Bangladesh Nationalist Party (BNP) and the Islamist Jamaat‑e‑Islami, with opinion polls giving an edge to the BNP.
In Dhaka, the capital, people queued up outside voting booths before polls opened at 7:30 a.m. local time (0130 GMT), including eager participants like Mohammed Jobair Hossain, 39, who said he last voted in 2008.
“I am feeling excited because we are voting in a free manner after 17 years,” Mr. Hossain said as he waited in line. “Our votes will matter and have meaning.”
Ms. Hasina’s Awami League is banned, and she remains in self‑imposed exile in long-term ally India, opening the window for China to expand its influence in Bangladesh as Dhaka’s ties with New Delhi deteriorate.
Unlike previous elections marred by opposition boycotts and intimidation, more than 2,000 candidates, including many independents, are vying for 300 seats in the Jatiya Sangsad, or House of the Nation. Voting in one constituency has been postponed due to the death of a candidate. At least 50 parties are contesting in total, a national record.
“This election is not just another routine vote,” Nobel laureate Muhammad Yunus, head of an interim government installed after Ms. Hasina’s ouster, said this week.
“The public awakening we witnessed against long‑standing anger, inequality, deprivation and injustice finds its constitutional expression in this election.”
In parallel, there will be a referendum on a set of constitutional reforms, including establishing a neutral interim government for election periods, restructuring parliament into a bicameral legislature, increasing women’s representation, strengthening judicial independence, and imposing a two-term limit on the prime minister.
Despite the crowded field and expectations of a close race, the campaign period remained largely peaceful, barring a few incidents.
“The crucial test for Bangladesh now will be to ensure the election is conducted fairly and impartially, and for all parties to then accept the result,” said Thomas Kean, a senior consultant with the International Crisis Group. “If that happens, it will be the strongest evidence yet that Bangladesh has indeed embarked on a period of democratic renewal.”
On election day, more than 100,000 soldiers from the army, navy and air force will assist nearly 200,000 police in maintaining law and order.
EARLY START, LATE FINISH Polling opened at 7:30 a.m. (0230 GMT) and closes at 4:30 p.m. Counting will begin soon after, with early trends expected around midnight and results likely to be clear by Friday morning, Election Commission officials said.
Nearly 128 million people are registered to vote, 49% of them women. But only 83 female candidates are contesting.
Corruption and inflation are the biggest issues among voters, a recent survey found.
The two prime ministerial candidates are the BNP’s Tarique Rahman and Jamaat chief Shafiqur Rahman. They are not related.
Several voters are conflicted about participating in the election.
Some, like rickshaw puller Chan Mia, say they cannot afford to travel to their villages to vote and lose their daily income in Dhaka. Others, such as gatekeeper Mohammad Sabuj, feel disillusioned because Ms. Hasina’s party is barred.
But some are determined to cast their ballots.
“During Hasina’s time, we couldn’t cast our votes,” said Shakil Ahmed, a driver. “It’s my right to vote. This time, I won’t miss it.” — Reuters
PACIFIC ONLINE Systems Corp. (LOTO) said it is unwinding its investment in HHR Philippines, Inc. (HHRPI) after the national government adopted a firm policy against licensing online betting platforms.
Pacific Online, a publicly listed company engaged in providing lottery systems and related technology services, said the move was in response to the government’s policy direction.
“Because of the firm policy adopted by the national government against the licensing of online betting platforms, please be advised that the Company and HHRPI have mutually agreed to revisit their investment arrangement and unwind the same, with a private third party investor agreeing to assume the rights and obligations of the Company from its HHRPI investment,” Pacific Online said in a disclosure on Thursday.
HHRPI operates Buenas PH, a licensed e-casino platform.
Pacific Online said it expects to cease being a shareholder of record in HHRPI upon securing the necessary regulatory clearances.
“As HHRPI is still in early operation stage, the unwinding of LOTO’s investment in the company is not expected to have any significant impact on LOTO’s financials,” it said. — A.G.C. Magno
GR Machines deployed in SM Malls nationwide set to make recycling easy, fun, and rewarding
Your empty PET bottles have somewhere better to go than landfills — and SM is taking them there.
Through the newly-deployed Green Recycling Machines (GR Machines), SM Prime Holdings, Inc. (SM Prime) uses the nationwide reach of SM Supermalls to make sustainable action easy, accessible, and rewarding for mallgoers all over the country.
“The GR Machines enrich the SM Group’s existing waste management efforts under the SM Green Movement,” said SM Supermalls President Steven Tan. “Through the deployment of these machines, we hope to collaborate with our customers in caring for the environment by helping recycle PET bottles whenever they enter their most loved SM Supermalls.”
Each GR Machine can be operated with ease by any user and can accept PET bottles up to two liters. Together, the GR Machines nationwide can collectively hold up to 5,000 bottles in one collection cycle which are compressed in-machine. The compressed PET blocks are then collected and given a second life by SM’s hauling partner Sentinel which transforms the blocks into reusable items such as food trays.
Little makes much: Preserving the environment one diverted bottle at a time
According to the World Bank, the Philippines leaks more than 300 million metric tons of plastic waste into the sea annually — equivalent to around 9 percent of its improperly handled plastic waste. The Philippines was also noted as one of East Asia and the Pacific region’s top contributors to ocean plastic pollution.
Recognizing that sustainability and protecting the environment is beyond the effort of one entity, SM has leveraged its presence nationwide through its properties to engage its customers and surrounding communities in maximizing the collection of recyclables especially plastics. Through SM Cares, its Corporate Social Responsibility arm, SM empowers communities to adopting sustainable practices through simple and accessible ways to take part in protecting the environment. Arresting the growing issue on pollution, the SM Group has enhanced waste segregation efforts to increase its collection and diversion of plastics from the environment since 2007 with its pioneer program, the Trash to Cash recycling market.
SM Group’s Trash to Cash initiative was organized by SM Cares as the pilot community program that encouraged customers to segregate recyclables like metal, paper, and plastic and exchange these for cash on a monthly basis. SM Supermalls also followed up this effort with the launch of two Reverse Vending Machines in SM Mall of Asia and SM Megamall which empowered customers to segregate aluminum cans and empty PETs in exchange for discounts on sports and leisure attractions. On top of these, SM also hosts nationwide coastal clean-up drives annually through the strength and effort of its workforce volunteers.
With the latest in mobile recycling technology, SM’s GR Machines encourage customers to turn good intentions into daily environmentally-conscious actions in three easy steps:
Feed any PET bottle up to 2 liters into the machine.
Confirm your deposit by pressing the prompt on the screen.
Await your reward.
“This is just a glimpse into how SM aims to enrich the Circular Economy through the elevated role we play in integrating seamless waste management efforts, all for Filipinos. We are hopeful that with the addition of the SM GR Machines, our continued partnership with our customers in protecting the environment yields a more sustainable future,” said Mr. Tan.
Customers can start depositing their plastic bottles in SM GR Machines across the following malls: SM North EDSA, SM City San Lazaro, SM Megamall, SM The Podium, SM Aura, SM Southmall, SM Mall of Asia, S’Maison, SM Seaside City Cebu and SM Lanang.
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People fish along the Manila Bay waterfront in Manila, the Philippines, on Dec. 16, 2022. Credit: SEONGJOON/BLOOMBERG
The Philippines must step up efforts to reduce its persistent budget deficits and consider paring back fiscal incentives to help it sustain its economic momentum, according to the Organisation for Economic Co-operation & Development.
The government must also enforce reforms to boost investments and job creation, as well as improve its climate resilience, the OECD said in its inaugural Economic Survey of the Philippines launched on Thursday.
Over the past decade and a half, the Southeast Asian nation has been one of the world’s fastest-growing emerging market economies, with per capita income more than doubling since 2010 and poverty rate halved, it said.
“The Philippines now faces significant headwinds to sustain strong growth and further enhance living standards,” the OECD said, citing slowing population growth, increasing climate risks, and disruptions in global trade.
“Fiscal policy should remain prudent to prepare for future shocks and rising expenditure pressures, including from infrastructure investment, social protection and the climate transition,” the group said.
The OECD urged faster fiscal consolidation with budget deficits still elevated. The Philippines’ public debt stood at 62.2% of gross domestic product in 2025, above several Southeast Asian peers and a sharp increase from sub-40% before the pandemic.
The government can phase out value-added tax (VAT) exemptions for senior citizens and education, and opt for targeted cash transfers, according to the OECD. Corporate tax holidays can also be cut back, while expenditure-based incentives can encourage more investment.
With core inflation staying below the mid-point of the 2%-4% inflation target and GDP likely growing below trend in the short-term, there is room to further reduce the central bank’s policy rate, the OECD said.
It forecasts Philippine GDP to expand 5.1% in 2026 before picking up to 5.8% in 2027. Growth had slowed to 4.4% last year as a massive corruption scandal around flood-control infrastructure stalled government spending and dampened consumer and business confidence.
The OECD made reference to the graft scandal in its report, saying while the government has allotted funding for climate adaptation and flood management, “there is only limited scrutiny of the actual implementation of these projects.”
“Part of so-called ‘climate’ spending has been mishandled as a conduit for rent-seeking and political favor-trading, rather than a credible investment in adaptation,” it added.
The archipelagic nation faces increasing heat waves, floods and typhoons, so the government will have to prioritize adaptation in disaster-prone regions, the OECD said. — Bloomberg
‘She Slays 2025: Girlcoded Convention’ receives a Silver Anvil Award in the PR Tools category for Special Events and Exhibits.
PhilSTAR Media Group bags 3 silver accolades at 61st ANVIL Awards
By Miguel Libosada
PhilSTAR Media Group (PMG) garnered three silver ANVIL awards at the 61st ANVIL Awards Gabi ng Parangal held at Solaire Resort North in Quezon City on Jan. 28, 2026.
The ANVIL Awards, organized by the Public Relations Society of the Philippines (PRSP), is regarded as one of the highest recognitions in the sphere of public relations. A multisectoral jury selects winners from diverse fields, including academia, government, and other industry experts.
This year’s theme, “The 61st Second: Pushing Past Possibilities,” challenged PR practitioners to go beyond conventions. It underscored the dynamic nature of communications and the importance of relevance, speed, and impact in delivering a message.
PMG received three silver ANVILs for the following:
PR Tools (Special Events and Exhibits) — She Slays 2025: Girlcoded Convention
PR Tools (Special Events and Exhibits) — BusinessWorld: Forecast 2025 — PH Forward: Towards a Sustained Growth Path
‘R39ENERATE: Ano’ng Papel Mo?’ earns a Silver Anvil Award under the PR Programs category for Corporate Identity and Corporate Branding.
PMG’s “R39ENERATE: Ano’ng Papel Mo?” posed a question that bears huge importance in these challenging times, in which voices are stifled and clouded by fake news. It demanded an answer with a strengthened commitment towards protecting the truth on the line. At its core, the program aimed for a renewal — not just for print media, but for journalism’s very purpose as a movement that connects, informs, and inspires people.
In celebration of Women’s Month in March 2025, PMG held the “She Slays 2025: Girlcoded Convention.” It gathered Gen Z and young millennial girls to a three-day event, helping them explore their interests and meet inspiring figures. It became a safe space for women to find their community and express themselves, empowering them in the process.
‘BusinessWorld Forecast 2025 — PH Forward: Towards a Sustained Growth Path’ is honored with a Silver Anvil Award under the PR Tools for Special Events and Exhibits category.
On the other hand, BusinessWorld’s “Forecast 2025 — PH Forward: Towards a Sustained Growth Path” was an insightful forum that gathered business leaders to discuss the conditions of the Philippine economy and how different industries contribute to the country’s economic growth moving forward.
These accolades affirm the media company’s unwavering resolve and continued commitment towards its clients and readers, showing PMG’s dynamism and evolution as a media powerhouse.
People can anticipate more programs from PMG, now more than ever, as it expands its initiatives with more special projects and campaigns in the works.
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BILL AND MELINDA GATES attend a debate on the 2030 Sustainable Development Goals in Brussels Jan. 22, 2015. — REUTERS
THE GATES Foundation said on Wednesday it did not make any financial payments to late financier and convicted sex offender Jeffrey Epstein or employ him at any time, after the US Department of Justice released emails that included communications between Mr. Epstein and the foundation’s staff.
“On the basis of Epstein’s claims that he could mobilize significant philanthropic resources for global health and development, a small number of foundation employees interacted with Epstein to try to secure this potential funding,” the foundation said in a statement.
“Ultimately, the foundation did not pursue any collaboration with Epstein and no fund was ever created,” the foundation said, adding that it “regrets having any employees interact with Epstein in any way”.
The Gates Foundation, the philanthropic organization started by Microsoft co-founder Bill Gates and his then-wife in 2000, is one of the world’s biggest funders of global health initiatives. Bill Gates is chair and board member of the foundation.
The DOJ’s release of millions of documents related to Mr. Epstein has revealed the late sex offender’s ties to many prominent people, both before and after he pleaded guilty in 2008 to prostitution charges, including soliciting an underage girl. His 2019 death in a Manhattan jail cell was ruled a suicide.
The documents indicate Bill Gates and Mr. Epstein met repeatedly after Mr. Epstein’s prison term to discuss expanding Mr. Gates’ philanthropic efforts. They also included pictures of Mr. Gates posing with women whose faces are redacted. Mr. Gates has said the relationship was confined to philanthropy-related discussions and that it was a mistake for him to meet with Mr. Epstein.— Reuters
SM Group’s Trash to Cash initiative was organized by SM Cares as the pilot community program that encouraged customers to segregate recyclables like metal, paper, and plastic and exchange these for cash on a monthly basis. SM Supermalls also followed up this effort with the launch of two Reverse Vending Machines in SM Mall of Asia and SM Megamall which empowered customers to segregate aluminum cans and empty PETs in exchange for discounts on sports and leisure attractions. On top of these, SM also hosts nationwide coastal clean-up drives annually through the strength and effort of its workforce volunteers.
With the latest in mobile recycling technology, SM’s GR Machines encourage customers to turn good intentions into daily environmentally-conscious actions in three easy steps:
