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India tightens grip on social media with new three-hour takedown rule

Social media logos are seen in this illustration taken on May 25, 2021. — REUTERS/DADO RUVIC/ILLUSTRATION

NEW DELHI — India’s government said social media companies would have to take down unlawful content within three hours of being notified about it, tightening on Tuesday an earlier 36-hour timeline in what could be a compliance challenge for Meta, YouTube and X.

The changes amend India’s 2021 IT rules, which have already been a flashpoint between Prime Minister Narendra Modi’s government and global technology companies.

The new regulations will take effect from Feb. 20.

The move reinforces India’s position as one of the world’s most aggressive regulators of online content, requiring platforms to balance compliance in a market of 1 billion internet users against mounting concerns over government censorship.

The government directive did not give any reason for the change in the timeline for takedowns.

“It’s practically impossible for social media firms to remove content in three hours,” said Akash Karmakar, a partner at Indian law firm Panag & Babu who specializes in technology law. “This assumes no application of mind or real world ability to resist compliance.”

India has taken many steps to control online speech, empowering scores of officers in recent years to order content removal. That has often drawn criticism from digital rights advocates and prompted clashes with companies including Elon Musk’s X.

THOUSANDS OF TAKEDOWN ORDERS
Facebook-owner Meta declined to comment on the changes, while X and Alphabet’s Google, which operates YouTube, did not immediately respond to requests for comment.

There is mounting global pressure on social media companies to police content more aggressively, with governments from Brussels to Brasilia demanding faster takedowns and greater accountability.

India’s IT rules empower the government to order the removal of content deemed illegal under any of its laws, including those related to national security and public order.

The country has issued thousands of takedown orders in recent years, according to platform transparency reports. Meta alone restricted more than 28,000 pieces of content in India in the first six months of 2025 following government requests, it disclosed.

“This rule was never in consultation. International standards provide a longer timeline,” a social media executive said on condition of anonymity.

The amended rules also relaxed an earlier proposal that would have required platforms to visibly label AI-generated content across 10% of its surface area or duration, instead mandating that such content be “prominently labeled.” — Reuters

As AI enters the operating room, reports arise of botched surgeries and misidentified body parts

PHILSTAR FILE PHOTO

IN 2021, a unit of healthcare giant Johnson & Johnson announced “a leap forward”: It had added artificial intelligence (AI) to a medical device used to treat chronic sinusitis, an inflammation of the sinuses. Acclarent said the software for its TruDi Navigation System would now use a machine-learning algorithm to assist ear, nose and throat specialists in surgeries.

The device had already been on the market for about three years. Until then, the US Food and Drug Administration (FDA) had received unconfirmed reports of seven instances in which the device malfunctioned and another report of a patient injury. Since AI was added to the device, the FDA has received unconfirmed reports of at least 100 malfunctions and adverse events.

At least 10 people were injured between late 2021 and November 2025, according to the reports. Most allegedly involved errors in which the TruDi Navigation System misinformed surgeons about the location of their instruments while they were using them inside patients’ heads during operations.

Cerebrospinal fluid reportedly leaked from one patient’s nose. In another reported case, a surgeon mistakenly punctured the base of a patient’s skull. In two other cases, patients each allegedly suffered strokes after a major artery was accidentally injured.

FDA device reports may be incomplete and aren’t intended to determine causes of medical mishaps, so it’s not clear what role AI may have played in these events. The two stroke victims each filed a lawsuit in Texas alleging that the TruDi system’s AI contributed to their injuries. “The product was arguably safer before integrating changes in the software to incorporate artificial intelligence than after the software modifications were implemented,” one of the suits alleges.

Reuters could not independently verify the lawsuits’ allegations.

Asked about the FDA reports on the TruDi device, Johnson & Johnson referred questions to Integra LifeSciences, which in 2024 purchased Acclarent and the TruDi Navigation System. Integra LifeSciences said the reports “do nothing more than indicate that a TruDi system was in use in a surgery where an adverse event took place.” It added that “there is no credible evidence to show any causal connection between the TruDi Navigation System, AI technology, and any alleged injuries.”

Insight into the incidents comes as AI is beginning to transform the world of healthcare. Proponents predict the new technology will help find cures for rare diseases, discover new drugs, enhance surgeons’ skill and empower patients. But a Reuters review of safety and legal records, as well as interviews with doctors, nurses, scientists and regulators, documents some of the hazards of AI in medicine as device makers, tech giants and software developers race to roll it out.

At least 1,357 medical devices using AI are now authorized by the FDA — double the number it had allowed through 2022. The TruDi system isn’t the only one to come under question: The FDA has received reports involving dozens of other AI-enhanced devices, including a heart monitor said to have overlooked abnormal heartbeats and an ultrasound device that allegedly misidentified fetal body parts.

Researchers from Johns Hopkins, Georgetown and Yale universities recently found that 60 FDA-authorized medical devices using AI were linked to 182 product recalls, according to a research letter published in the JAMA Health Forum in August. Their review showed that 43% of the recalls occurred less than a year after the devices were greenlighted. That’s about twice the recall rate of all devices authorized under similar FDA rules, the review noted.

FDA STRUGGLING TO KEEP PACE
The AI boom poses a problem for the FDA, five current and former agency scientists told Reuters: The agency is struggling to keep pace with the flood of AI-enhanced medical devices seeking approval after losing key staff. A spokesperson for the US Department of Health and Human Services (HHS), which includes the FDA, said it’s looking to boost its capacity in this area.

Another form of artificial intelligence, generative AI chatbots, is also making its way into medicine. Many physicians are now using AI to save time, such as in transcribing patient notes. But doctors also say many patients use chatbots to self-diagnose or challenge professional advice, posing new challenges and risks.

Artificial intelligence became a business and social sensation after the launch of ChatGPT about three years ago. ChatGPT and other popular chatbots, such as Google’s Gemini and Anthropic’s Claude, use so-called generative AI to create content. They are built on top of large language models, or LLMs, which are trained on huge troves of text and other data to understand and generate human language. These AI tools are now being introduced into medical areas such as consumer healthcare apps.

AI encompasses more than LLMs, however, and the technology made its way into medicine long before AI bots appeared. The field dates back more than 70 years: A key moment was when British mathematician Alan Turing asked in a 1950 paper, “Can machines think?”

The FDA authorized its first AI-enhanced medical devices in 1995 — two systems that used pattern-matching software to screen for cervical cancer. The type of AI used in medical devices today is often called machine learning, along with a subset known as deep learning, which are trained on data to perform specific tasks. The technology is used in radiology, for example, to enhance and analyze medical images. It can help diagnose cancers by identifying tumors that doctors may overlook.

Such systems are also used in surgical devices. In June 2022, a surgeon inserted a small balloon into Erin Ralph’s sinus cavity at a hospital in Fort Worth, Texas. According to a lawsuit filed by Ms. Ralph, Dr. Marc Dean was employing the TruDi Navigation System, which uses AI, to confirm the position of his instruments inside her head.

The procedure, known as a sinuplasty, is a minimally invasive technique to treat chronic sinusitis. A balloon is inflated to enlarge the sinus cavity opening, to allow better drainage and relieve inflammation.

But the TruDi system “misled and misdirected” Mr. Dean, according to the lawsuit Ms. Ralph filed in Dallas County District Court against Acclarent and other defendants. A carotid artery — which supplies blood to the brain, face and neck — allegedly was injured, leading to a blood clot. According to a court filing, Ms. Ralph’s lawyer told a judge that Mr. Dean’s own records showed he “had no idea he was anywhere near the carotid artery.” Reuters wasn’t able to review the records, which are subject to a judicial protective order.

After Ms. Ralph left the hospital, it became apparent that she had suffered a stroke. The mother of four returned and spent five days in intensive care, according to a GoFundMe fundraising drive that was organized to support her recovery. A section of her skull was removed “to allow her brain room to swell,” the GoFundMe appeal stated.

“I am still working in therapy,” Ms. Ralph said in an interview more than a year later in a blog about stroke victims. “It is hard to walk without a brace and to get my left arm back working, again.”

SINUPLASTY, A STROKE, AND A LAWSUIT
In May 2023, Mr. Dean was using TruDi in another sinuplasty operation when patient Donna Fernihough’s carotid artery allegedly “blew.” Blood “was spraying all over” — even landing on an Acclarent representative who was observing the surgery, according to a lawsuit Ms. Fernihough filed in US District Court in Fort Worth against Acclarent and several manufacturers. One of Ms. Fernihough’s carotid arteries was damaged. She suffered a stroke the day of the surgery, according to her suit.

Acclarent “knew or should have known that the purported artificial intelligence caused or exacerbated the tendency of the integrated navigation system product to be inconsistent, inaccurate, and unreliable,” the suit alleges.

Acclarent has denied the allegations in both suits, which are ongoing, according to court filings. The company says it did not design or manufacture the TruDi system but only distributed it, according to court filings. Acclarent’s owner, Integra LifeSciences, told Reuters there’s no evidence of a link between the AI technology and any alleged injuries.

Mr. Dean began consulting for Acclarent in 2014 and received more than $550,000 in consultant’s fees from the company through 2024, according to Open Payments, a federal database that tracks financial ties between companies and physicians. At least $135,000 of those fees related to the TruDi system.

An attorney for Mr. Dean said the doctor couldn’t comment due to patient privacy and ongoing litigation. Integra said Mr. Dean is no longer a TruDi consultant and that payments made to him after it acquired Acclarent were for meals.

In 2021, Acclarent’s president at the time, Jeff Hopkins, was pushing to put AI in TruDi “as a marketing tool” to claim that the device “had new and novel technology,” Ms. Fernihough’s suit alleges.

The TruDi software uses machine learning to identify specific segments of a patient’s anatomy and calculate “the shortest, valid path between two points specified by the physician,” according to an Acclarent post on LinkedIn. The technology is designed to simplify surgical planning and provide real-time feedback during procedures such as sinus operations.

Acclarent officials had approached Mr. Dean about the plan to add AI, the Fernihough suit states. The surgeon warned Mr. Hopkins and Acclarent “that there were issues that needed to be resolved,” the complaint adds. Despite that warning, the suit claims, Acclarent “lowered its safety standards to rush the new technology to market,” and set “as a goal only 80% accuracy for some of this new technology before integrating it into the TruDi Navigation System.”

Reuters couldn’t establish whether Mr. Dean issued the warning. Reporters were unable to review material submitted in support of Ms. Fernihough’s claims, which is subject to a judicial protective order.

Mr. Hopkins, the former Acclarent president, did not respond to a request for comment.

‘WRONG BODY PARTS’
The FDA cautions that reports of adverse events and device malfunctions are limited: They often lack detail, are redacted to protect trade secrets, and can’t be used alone to place blame. The agency also sometimes receives multiple reports for a single incident.

Reuters found that at least 1,401 of the reports filed to the FDA between 2021 and October 2025 concern medical devices that are on an FDA list of 1,357 products that use AI. The agency says the list isn’t comprehensive. Of those reports, at least 115 mention problems with software, algorithms or programming.

One FDA report in June 2025 alleged that AI software used for prenatal ultrasounds was misidentifying fetal body parts. Called Sonio Detect, it uses machine learning techniques to help analyze fetal images.

“Sonio detect software ai algorithm is faulty and wrongly labels fetal structures and associates them with the wrong body parts,” stated the report, which does not say that any patient was harmed. Sonio Detect is owned by Samsung Medison, a unit of Samsung Electronics. Samsung Medison said the FDA report about Sonio Detect “does not indicate any safety issue, nor has the FDA requested any action from Sonio.”

The HHS spokesperson didn’t respond to questions about Sonio Detect.

At least 16 reports claimed that AI-assisted heart monitors made by medical-device giant Medtronic failed to recognize abnormal rhythms or pauses. None of the reports mentioned injuries. Medtronic told the FDA that some of the incidents were caused by “user confusion.”

The AI algorithms in Medtronic’s LINQ series of implantable cardiac monitors are described as “deep learning artificial intelligence.” They have greatly reduced false alerts and retained true alerts of heart events, according to the company’s website. But the company also says on its site and in product literature that its AI technology, AccuRhythm AI, can misclassify actual abnormal heart rhythms or pauses.

Medtronic told Reuters that it reviewed all 16 episodes and concluded its device only missed one abnormal heart-rhythm event. “None of these reports resulted in patient harm,” it said. Medtronic said some of the incidents were related to problems with data display, not the AI technology. It declined to explain fully what went wrong in each incident.

The HHS spokesperson said the agency doesn’t discuss possible or ongoing compliance matters.

FDA CUTBACKS UNDER TRUMP
In interviews, five current and former FDA scientists who reviewed AI-powered medical devices told Reuters that federal regulators are now less equipped to handle the flood of new ones.

About four years ago, the FDA expanded its roster of scientists who specialize in AI, particularly for reviewing medical imaging and radiology devices that use the technology. Many recruits were stationed in the Division of Imaging, Diagnostics and Software Reliability (DIDSR). The unit became the agency’s key resource for assessing the safety of AI in medicine, one current and two former FDA employees told Reuters. It grew to about 40 people early last year.

“Some senior regulators have no idea how these technologies work,” one ex-employee said. “We sat closely with senior regulators and explained to them why we think this technology is safe or not safe to use in the market.”

It wasn’t easy to lure top talent to government service. Recruiting computer scientists often required persuading them to turn down higher pay in the private sector.

In their work, scientists tried to “break” the devices’ AI models, a former employee said. They would test a device’s algorithms in a variety of clinical situations and check whether the AI’s performance deteriorated over time. They also sought to minimize “hallucinations,” in which AI models sometimes generate false information, FDA officials wrote in a paper published in October.

But early last year, the Trump administration began to dismantle the AI team as part of Elon Musk’s cost-cutting campaign, the Department of Government Efficiency, or DOGE. About 15 of the 40 AI scientists in the DIDSR unit were laid off or opted to go, the FDA insiders said. Another unit that crafted policy on devices using AI, the Digital Health Center of Excellence, lost about a third of its staff of around 30.

Andrew Nixon, the HHS spokesperson, said the FDA is applying the same rigorous standards to medical devices aided by machine learning and other AI as it would to any product.

“Patient safety is the FDA’s highest priority and is at the forefront of our work to protect and promote the public health,” Mr. Nixon said. “The FDA sees tremendous promise in the digital health space,” including devices enabled with AI and machine learning, “to help diagnose and treat a range of conditions.” He said the FDA continues to recruit and develop talent with expertise in digital health, artificial intelligence and other emerging technologies.

Since the cuts, the workload has nearly doubled for some device reviewers, said two ex-employees. “If you don’t have the resources, things are more likely to be missed,” said a former device reviewer who left last year.

The FDA requires clinical trials for new drugs, but medical devices face different screening. Most AI-enabled devices coming to market aren’t required to be tested on patients, according to FDA rules. Instead, makers satisfy FDA rules by citing previously authorized devices that had no AI-related capabilities, says Dr. Alexander Everhart, an instructor at Washington University’s medical school in St. Louis and an expert on medical device regulation.

Positioning new devices as updates on existing ones is a long-established practice, but Mr. Everhart says AI brings new uncertainty to the status quo.

“I think the FDA’s traditional approach to regulating medical devices is not up to the task of ensuring AI-enabled technologies are safe and effective,” Mr. Everhart told Reuters. “We’re relying on manufacturers to do a good job at putting products out. I don’t know what’s in place at the FDA represents meaningful guardrails.” — Reuters

How to create jobs for the world’s 1.2 billion new workers

STOCK PHOTO | Image by JK from Unsplash

By Ajaypal Banga

THE WORLD moves on different wavelengths. Some are high-frequency shocks — wars, emerging technologies, market panics — that spike quickly and dominate our attention. Others are low-frequency forces that move slowly but relentlessly: demographics, globalization, water and food scarcity.

The high-frequency waves feel urgent. The low-frequency waves reshape the system.

That is not to say crises don’t matter. But we cannot become casualties of the slow burn simply because the immediate crisis burns hotter or dominates more headlines. Ignore the slow burn long enough, and it becomes an inferno.

One of those forces is already in motion. Over the next 10 to 15 years, 1.2 billion young people in developing countries will come of working age — a scale the world has never seen. On current trajectories, these economies are expected to generate only about 400 million jobs over that same period — leaving a gap of staggering proportions.

This is often framed as a development challenge, and it is. It is also an economic challenge. And it is increasingly a national security challenge.

What was striking at the Davos conference last month was how easily this issue was brushed aside — overshadowed by the urgency of the issue du jour. It must not be ignored at coming forums like the Munich Security Conference, the G-7, and G-20.

If we invest early in people and connect them to productive work, this vast new generation can build lives of dignity and become a foundation for growth and stability. If we do not, the consequences are predictable: pressure on institutions, irregular migration, conflict, and rising insecurity as young people reach for any path available to them.

The World Bank Group is pursuing the first path with urgency, bringing together public finance, knowledge, private capital, and risk-management tools around a jobs strategy built on three pillars.

First, creating infrastructure — both human and physical. Without reliable power, transportation, education, and healthcare, private investment and jobs never materialize. While the role of physical infrastructure is well understood, investment in people is equally critical. For example, a skills center in Bhubaneswar, India — supported in partnership with the government and private sector — trains nearly 38,000 people each year. Because the preparation is aligned with real market demand, nearly all graduates secure employment — or go on to create jobs themselves, supported by engineering, manufacturing, and intellectual property training.

Second, creating a business-friendly environment. Clear rules and predictable regulation reduce uncertainty and improve the ease of doing business. Jobs are generated when entrepreneurs and firms have the confidence to invest and expand. Public resources can help unlock that process, but job creation at scale depends on the private sector — especially micro-, small- and medium-sized enterprises that generate most employment.

This leads to the third pillar: helping businesses scale. Through our private-sector arms, we provide equity, financing, guarantees, and political risk insurance. One recent model is a trade-finance guarantee supporting Banco do Brasil, which is unlocking roughly $700 million in affordable funding for Brazilian small businesses, particularly in agriculture — channeling capital to the firms that drive local growth.

We focus where job potential is greatest, across the five sectors that consistently generate employment at scale: infrastructure and energy, agribusiness, primary healthcare, tourism, and value-added manufacturing.

This is not an abstract theory. It is grounded in evidence, country experience and hard choices about where limited resources deliver the greatest impact.

It is also not a zero-sum proposition.

By 2050, more than 85% of the world’s population will live in developing countries. That represents not only the largest expansion of the global labor force in history, but the largest growth in future consumers, producers, and markets. Whether the motivations are development, altruism, returns, or security, there is a role and reward for putting energy and resources into this effort.

Developing countries benefit because jobs create income, stability and dignity. They strengthen domestic demand and give young people a reason to invest in their future at home rather than look elsewhere.

Developed countries gain as well. As developing economies grow, they become stronger trading partners, more resilient supply-chain anchors and more stable neighbors. Growth in those markets expands global demand and reduces the pressures that drive irregular migration and insecurity — outcomes that carry real economic and political costs far beyond borders.

And for the private sector — both financial institutions and operators — this represents one of the largest opportunities of the coming decades. Rapid population growth means sustained demand for energy, food systems, healthcare, infrastructure, housing, and manufacturing.

The constraint has never been a lack of opportunity. It has been risk, real and perceived. That is where development institutions can play a catalyzing role: financing infrastructure, supporting regulatory reform, and reducing risk.

If we get this right, the low-frequency forces shaping the world — in this case demographics — become engines of growth and stability rather than sources of volatility and risk. If we get it wrong, we will continue to chase crises — reacting to outcomes that were visible years, even decades, in advance.

The choice is not whether these forces will shape the future. They will. The choice is whether we act early and bend them toward opportunity — or wait until they arrive as instability.

BLOOMBERG OPINION

 Ajaypal Banga is the President of the World Bank Group.

US household credit troubles tick up in 2025

THE shadow of the Central Park Tower stretches over the west side of Manhattan as seen from the window of the building in New York, US, Sept. 17, 2019. — REUTERS/LUCAS JACKSON

OVERALL CREDIT TROUBLES in the US increased modestly but held at low levels during the fourth quarter as some parts of the mortgage market saw accelerated fraying, amid ongoing difficulties for student loan borrowers, the Federal Reserve Bank of New York said in a report released on Tuesday.

When it comes to delinquency rates, “overall, mortgages continue to perform well by historical standards and have risen recently only after having reached artificially low levels during the (COVID-19) pandemic,” economists at the regional Fed bank said in a blog post, opens new tab accompanying the release of its quarterly household debt report.

On average, 1.3% of mortgages became seriously troubled last year, “a share that looks very similar to the averages observed outside of the period around the ‘Great Recession’” nearly 20 years ago.

The economists, however, wrote that “in lower-income areas and in areas experiencing worsening labor markets or housing market conditions, we are seeing mortgage delinquencies grow at a fast pace.”

The report shows that even as the US economy continues to perform well overall, an increasing number of people, mainly on the lower-income spectrum, are facing challenges amid a slowing labor market and high cost of living.

Meanwhile, higher-income households are doing fine and supporting the overall expansion on the back of their spending.

“We know that higher-income households… tend to own real estate and tend to own stocks… and securities, and those assets have been going up in value, and increases in wealth do support spending over time,” Fed Chair Jerome H. Powell said in a press conference after the end of the US central bank’s January 27-28 policy meeting. Meanwhile, those with lower incomes are looking to “economize” their spending, he said.

STUDENT LOAN PROBLEMS
The New York Fed data showed the rate of mortgages flowing into serious delinquency during the fourth quarter stood at 1.4%, up from 1.09% in the final three months of 2024. That figure compared with a 3.3% transition rate for all borrowing during the fourth quarter, which itself was up from the 1.7% rate during the final quarter of 2024.

Total debt delinquencies “worsened” in the fourth quarter, with 4.8% of loans in some sort of trouble, the New York Fed said. Troubled loans in the third quarter stood at 4.5%.

“We would characterize overall that delinquency rates have, especially for non-mortgage debt, that they’ve really stabilized or leveled off,” a New York Fed researcher said in a conference call to discuss the report.

Student loans, however, continued to stand as the most challenged part of the household credit sector.

Credit cards and student borrowing lead loan types in long-standing distress

The New York Fed said 9.6% of student loans are three months or more delinquent, “reflecting continued effects from the resumption of payment reporting following the extended pandemic forbearance period.” It also noted that the flow of student loans into serious delinquency stood at a heady 16.2%, versus 0.7% in the closing three months of 2024.

Total household debt levels stood at $18.8 trillion in the fourth quarter, up $191 billion, or 1%, from the prior quarter. Total borrowing for 2025 rose by $740 billion and was up $4.6 trillion since the close of 2019, before the pandemic struck.

Mortgage related borrowing dominates credit usage in the US.

Student loan balances hit $1.7 trillion in the final three months of 2025, up $11 billion from the prior quarter. Credit card balances were $1.3 trillion, up $44 billion from the third quarter. Fourth-quarter auto loan balances were $1.7 trillion, up $12 billion from the third quarter. — Reuters

Italy buys Messina’s Ecce Homo painting for $15 million

COMMONS.WIKIMEDIA.ORG
COMMONS.WIKIMEDIA.ORG

ROME — Italy has bought Antonello da Messina’s Ecce Homo for $14.9 million, securing the rare work by the 15th century Renaissance master just as it was due to be auctioned in New York, the culture minister said.

The ministry described the small, tempera painting as a unique work in Renaissance art and a major addition to its strategy to expand and promote Italy’s cultural heritage.

The double-sided panel shows on one side a striking Ecce Homo image of Jesus Christ crowned with thorns and on the other side a penitent Saint Jerome in a rocky landscape.

Around 40 works by Antonello da Messina have survived to this day, with almost half of them held in Italian collections.

Art experts believe Messina painted four versions of Ecce Homo. One is held at the Metropolitan Museum of Art in New York, and the other two in Italy — at Palazzo Spinola in Genova and the Collegio Alberoni in Piacenza.

The first documented mention of this fourth work dates back to the early 20th century, when it belonged to a private Spanish collection. It was later bought by a New York gallery.

The Culture Ministry did not say where it planned to display this latest acquisition.

The painting had been expected to be sold at an auction of Old Masters at Sotheby’s in New York, with the estimated price put at $10-15 million.

In its notes about the work, Sotheby’s wrote that the painting “offers a deeply personal encounter with one of the most psychologically powerful images of Christ in Renaissance art — startlingly human, vulnerable, and present.” — Reuters

Office take-up outpaced by new supply, vacancy to hold at 20% — Savills

STOCK PHOTO | Image by Wirestock from Freepik

OFFICE VACANCY in Metro Manila is expected to hover around 20% this year, as take-up from healthcare and business process outsourcing (BPO) tenants is outpaced by new supply, according to real estate consultancy Savills Philippines.

“I think office vacancy will remain at more or less 20% in 2026 because of new supply being completed,” Savills Philippines Chief Operating Officer Rosario “Cha” P. Carbonell said during the firm’s property market briefing on Wednesday.

“Maybe there will be more transactions in 2026, but at the same time, a lot of that will be offset by transactions that will likely come from tenant relocations,” she added.

For 2026, the Metro Manila office market has an upcoming supply of 403,806 square meters (sq.m.), Savills said.

Nearly half (43%) of the new supply will come from the Bay Area, 19% from the Makati central business district (CBD), 12% from Bonifacio Global City (BGC), 12% from Ortigas Center, with the rest located in Quezon City (10%) and the Alabang CBD (4%).

“Beyond 2026, new office supply is expected to thin out significantly, reflecting more cautious development activity,” the report noted.

About 770,000 sq.m. of office transactions were recorded in 2025, with 75% classified as relocations and 25% as expansions.

The information technology-business process management sector accounted for 58% of demand last year, followed by traditional firms (31%), flexible office spaces (7%), and government tenants (4%).

John Corpus, executive director of tenant representation at Savills Philippines, said demand has been concentrated in PEZA-accredited and green-certified buildings.

Meanwhile, office rentals softened in 2025 amid elevated vacancies, he added.

Average rents last year were highest in BGC at P1,024 per sq.m., followed by the Makati CBD (P973 per sq.m.), Bay Area (P699 per sq.m.), Quezon City (P667 per sq.m.), Ortigas Center (P646 per sq.m.), and Alabang CBD (P572 per sq.m.). — Beatriz Marie D. Cruz

Business and politics

STOCK PHOTO | Image from Freepik

DOES THE CULTURE of politics with its exercise of power, arm-twisting, use of cash incentives, and behind-the-scenes negotiations also infect corporate governance? How does business cope with nepotism, dynasties, rule-bending, collusion with suppliers, and unauthorized budget insertions?

Companies occasionally employ political tactics to achieve corporate goals. Political games can also be observed in private companies. Behind large conglomerates are individuals who employ the Machiavellian lessons in power and manipulation.

Still, there are differences in how politics operates within the corporation that often makes the transition from the private to the public sector (and vice versa) full of challenges.

Corporate governance sets enforceable rules. There is no need to set up a committee to investigate an anomaly and how this can be prevented in the future. The offending party is given his walking papers and if there is an explanation that accompanies the departure, the public disclosure is short and to the point — Mr. X is no longer with the company. Determining fault and who bears it is swiftly decided.

Media interest is limited. Business executives address a narrower base of interested parties (employees, stockholders, customers, and investors) than politicians (enemies, constituents, and the struggling masses). Thus, media attention on business is narrow since the goings-on in a corporation seldom affects issues that people march in the street for. Seldom do business stories make the front page, even if they should. Scandals involving public-private partnerships that have gone wrong may pop up in online posts and blind items.

It’s all right to buy voting shares. While regular politicians buy votes, they make sanctimonious declarations to the contrary. It’s acceptable however for a block in a listed company to increase its number of shares and buy them in the open market or from other parties wanting to cash out. Shareholders routinely disclose increasing shares in a buyback strategy and state their present share of outstanding stocks. The whole vote-buying operation is transparent.

Evaluation of management performance is routine. For a listed company, the approval (or disapproval) rating is reflected in the price of the stock and the volume of its transactions. A stock that is “not liquid” is one that nobody bothers to buy or sell daily. Its price hardly moves in either direction. For the most part, corporations do not need to wait for a survey company to track how the stakeholders view them.

Constituents can easily move in or out of an investment. If stockholders are unhappy with the way the CEO is running the company, there’s no need for criticism and lobbying. A vote of no-confidence is a simple matter of unloading shares at market price and moving on. They switch funds to another company or hold on to the cash and wait on the sidelines.

Given the political dimension of conglomerates, it is puzzling to note that the top position in government has eluded business moguls crossing into politics. Their names come up in “what-if” speculations. Now and then they jump into the political fray but come up short. Some may win legislative positions. But getting elected to run the country has yet to be achieved by corporate types.

Are the credentials of business success not seen as proof of fitness to govern the country? Given the risk-reward ratio that businessmen are constantly evaluating, it is deemed more appropriate to support (not just with kind words) more politically experienced candidates rather than joining them in an electoral contest.

Corporate politicians do not employ surveys and polls to determine their standing in the organization. It is the earnings per share and dividends declared and marketing strategies that attract support. Corporate leaders rely on verifiable numbers to make their case as being fit to govern, not the numbers that attend their rallies.

Maybe the corporate governance rules of accountability, clear objectives with key result areas, transparency, customer care, and quick correction of wrongdoing can be applied to the political organization.

Corporate governance with its transparent process and enforceable rules of conduct may have already found its way into some local government units. There are sterling examples of certain cities that are being run honestly and efficiently like top corporations.

Business and politics can indeed be mixed into a powerful brew… depending on the proportion of one or the other.

 

Tony Samson is chairman and CEO of TOUCH xda.

ar.samson@yahoo.com

Microsoft exploring using advanced power lines to make data centers more energy-efficient

REUTERS

MICROSOFT is exploring using superconducting power lines in its data centers, which could potentially accelerate its massive US build-out of the server warehouses by making them more energy-efficient, the company said on Tuesday.

Big Tech’s effort to swiftly build and electrify giant data centers across the US to expand technologies like artificial intelligence has been slowed by the country’s aging power system and constrained electricity supplies.

Microsoft said recent tests of high‑temperature superconductor cables have shown that the power lines can deliver the same amount of electricity as traditional cables while taking up less space.

“The technology helps us scale power density without expanding our physical footprint,” Husam Alissa, who leads the Systems Technology Team at Microsoft’s CO+I CTO Office. “It can also help us reduce the size of power transmission infrastructure and lower community impact.”

High-temperature superconductor cables use a ceramic-like material that transports electricity more efficiently than conventional copper and aluminum conductors, which are used widely in power infrastructure.

Deploying the cables, which are not currently used in data centers, could shorten the time it takes to power the large server warehouses.

Microsoft said the technology could allow it to increase electrical density inside facilities without expanding infrastructure like substations. The company, however, did not disclose its investment in superconducting technology or when it would be able to deploy them in its data centers.

US government research shows the electricity use of data centers may consume about 12% of US power supplies by 2028, a tripling from four years earlier, which would require more infrastructure to generate and transport the electricity.

Single data center campuses being built today will require more than one gigawatt of electricity at a single location, enough to power about 750,000 homes.

The cable technology has been under development for decades, but stymied by high costs and manufacturing constraints.

Microsoft is investing in superconducting companies, including Massachusetts-based cable manufacturer and cooling system vendor, VEIR, which closed a $75 Series B funding round this last year. VEIR, which recently completed a test of its three-megawatt cable to power a server rack in a simulated data center, said the advanced cables can be more than 10 times smaller and lighter than traditional cables, allowing for a smaller data center footprint. Reuters

PCC clears LIMA Land, HI joint venture for Tarlac estate expansion

ABOITIZ INFRACAPITAL

THE PHILIPPINE Competition Commission (PCC) has approved LIMA Land, Inc. and Yuchengco-led holding company House of Investments, Inc. (HI)’s joint venture to develop a 184-hectare (ha) property within its Tarlac estate.

In a stock exchange disclosure on Wednesday, Aboitiz Equity Ventures, Inc. (AEV) said both firms aim to complete the first phase of the development, covering 90 ha, in the second half of 2026.

The expansion is expected to support light- to medium-scale industries and complements the estate’s existing locators, including Coca-Cola Europacific Aboitiz Philippines and Ajinomoto Philippines Corp.

Construction of subsequent phases will begin this year and is scheduled for completion by 2028, the company said.

“Subsequent phases are progressing in parallel to accelerate the delivery of critical infrastructure and keep the estate aligned with growing investor demand,” AEV said.

The property will feature dedicated satellite offices of the Bureau of Customs and the Philippine Economic Zone Authority, which are expected to be operational by the first quarter of 2027.

AEV said the first phase of TARI Estate is fully sold, with locators in varying stages of development.

HI will hold a 51% stake in the partnership, while AEV will hold 49% as the exclusive provider of project management, estate operations, and general support services.

The development, owned by HI subsidiary Tarlac Terra Ventures, Inc., will expand TARI Estate to 384 ha.

“Through Tarlac Terra Ventures, we are creating an environment where industries can scale efficiently, investments translate into real progress, jobs are created, and communities benefit from sustainable economic growth,” Aboitiz Land, Inc. and Aboitiz Economic Estates President and Chief Executive Officer (CEO) Rafael Fernandez de Mesa said.

LIMA Land is a wholly owned subsidiary of Aboitiz InfraCapital, Inc. (AIC), the infrastructure arm of the Aboitiz group.

HI President and CEO Lorenzo V. Tan said the venture would strengthen its position in horizontal property development and enhance its real estate portfolio.

On the stock exchange on Wednesday, AEV shares fell 1.18% or 40 centavos to close at P33.60 apiece, while HI shares gained 1.22% or six centavos to close at P4.99 each. — Beatriz Marie D. Cruz

Henry VIII’s love token secured by British Museum after centuries lost

The Tudor Heart Pendant — BRITISHMUSEUM.ORG

LONDON — Henry VIII and Katherine of Aragon’s marriage didn’t last — he divorced her in 1533 — but a golden heart pendant linked to their union did survive, and has now been secured for permanent display at the British Museum.

The 24-carat-gold heart, complete with the couple’s initials in red, and a picture of the Tudor rose and a pomegranate tree, was acquired by the British Museum after it raised £3.5 million ($4.8 million) to save it from being sold to a private collector.

The pendant — a symbol of the couple’s initially devoted but ultimately doomed marriage — was lost for hundreds of years.

But in 2019 it was discovered by a metal detectorist in a field in Warwickshire, and under British treasure laws, museums across the country have the chance to acquire significant historical finds before they go for general sale.

The pendant is the only piece of jewelry which still exists from Henry’s 24-year marriage to Katherine, and features a banner which says “tousiors” or “always” in old French.

The item captured the imagination of about 45,000 individuals who donated £380,000 alongside funding provided by the National Heritage Memorial Fund and other trusts to raise the price tag, half of which goes to the detectorist and half to the landowner.

“This beautiful survivor tells us about a piece of English history few of us knew, but in which we can all now share,” British Museum director Nicholas Cullinan said in a statement on Tuesday.

The pendant was believed to have been created in 1518 to celebrate the betrothal of Henry and Katherine’s daughter Mary to the French heir apparent.

But by the early 1530s, Henry had fallen out of love with Katherine and in love with Anne Boleyn, and was desperate for a male heir to secure the Tudor dynasty. Henry broke away from the Catholic Church to annul his marriage to Katherine. — Reuters

PDIC’s deposit insurance claim payouts reach P107M

ORIGINAL BACKGROUND PHOTO FROM FREEPIK/FANJIANHUA

PHILIPPINE DEPOSIT Insurance Corp. (PDIC) paid P106.9 million in claims last year to depositors of two banks that were shut down by the central bank’s policy-setting Monetary Board.

The deposit insurance payouts covered 3,736 claims across 3,111 deposit accounts from the closed Emerald Rural Bank, Inc. in Bulacan and Oriental Tamaraw Rural Bank of Naujan, Inc. in Oriental Mindoro, the state deposit insurer said in a statement on Wednesday.

It took over Emerald Rural Bank on Jan. 24, 2025 and Oriental Tamaraw Rural Bank of Naujan on May 13, 2025.

“Payments were made both to depositors who formally filed claims and to those eligible for outright payment under the PDIC’s waiver policy for deposit insurance claims filing,” PDIC said.

“Under this policy, individual depositors who are not borrowers, spouses of borrowers, or comakers of the closed banks, as well as for registered businesses or organizations, whose deposit accounts have outstanding balance of up to P500,000, will no longer be required to file their deposit insurance claims provided that they have complete and updated registered mailing addresses in bank records.”

Claim payments were disbursed through Philippine Postal Corp.’s postal money orders or Visa debit cards issued by Land Bank of the Philippines.

PDIC said that 3,433 claims representing 92% of total deposit accounts were settled via outright payment. These claims were valued at P44.4 million, which made up 42% of the total amount paid.

The payments were completed within 10 to 13 working days from the PDIC’s takeover of the two banks.

Meanwhile, 58% of total payouts in 2025 representing 303 claims worth P62.5 million were made to depositors required to file claims.

These were settled within 15 to 20 working days upon receipt of complete claims.

The agency added that depositors of the two closed banks who have yet to file their claims can do so for up to two years from the date of PDIC’s takeover of these lenders. — A.M.C. Sy

How PSEi member stocks performed — February 11, 2026

Here’s a quick glance at how PSEi stocks fared on Wednesday, February 11, 2026.


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