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Israel could open up more industries to OFWs

REUTERS

THE PHILIPPINES and Israel are exploring the expansion of employment opportunities for Filipinos in Israel, the Israeli embassy said in a statement.

The Embassy of Israel in Manila said the particular industries where overseas Filipino workers (OFWs) are in demand are in trade, services and restaurants.

The statement was issued after a meeting on Tuesday between Migrant Workers Secretary Hans Leo J. Cacdac and Israeli Minister of Economy and Industry Nir Barkat.

“During the meeting, the ministers discussed strengthening cooperation between the countries in the fields of employment and the economy, with an emphasis on expanding the employment of Filipino workers in Israel in areas under the responsibility of the Ministry of Economy — including industry, trade, services and restaurants,” the embassy said.

Mr. Barkat said that Israel intends to expand the scope of employment of foreign workers and promised “fair and competitive” wages consistent with human dignity and business needs.

He held out the possibility of creating a new bilateral agreement between the two countries.

The embassy said the prospective agreement seeks to regulate the process of recruiting workers, ensuring transparency, fair conditions and oversight mechanisms for the benefit of all parties.

“Together, we will build partnership models that will strengthen both the Israeli economy and the strong and deep connection between the State of Israel and the Republic of the Philippines,” Mr. Barkat said.

About 30,000 Filipinos currently reside and work in Israel, mainly employed in hotels and as caregivers, according to the Department of Migrant Workers.

Last month, the Department of Foreign Affairs downgraded conditions in Israel to Alert Level 2 following its ceasefire with Iran.

The alert is typically issued during internal disturbances or external threats.

The Israeli Ambassador has said that Israel will waive re-entry visas for OFWs who were evacuated during the brief war with Iran. — Adrian H. Halili

Rebalancing for the future: Why the Philippines needs a tradables revival

STOCK PHOTO | Image by Chevanon from Freepik

By Gonzalo Varela and Kevin Cruz

OVER the past 15 years, the Philippines has been one of East Asia’s most dynamic economies. Growth was fast, inclusive, and spatially balanced. Public investment in infrastructure surged, and reforms attracted private capital. As highlighted in the Philippines Growth and Jobs Report launched by the World Bank earlier in July, investment (or capital accumulation) accounted for nine out of every 10 dollars of GDP growth.

But the pattern of structural transformation that accompanied this expansion brings important questions for the future. Growth has leaned increasingly inward. Domestic, non-tradable sectors — construction, retail, and local services — boomed. In contrast, the tradable sector — those activities that compete internationally or could — has shrunk in relative terms and now contributes less than in many peer countries with similar endowments.

Three out of every four new jobs since 2010 were created in non-tradables. Manufacturing employment stagnated at around 8% — the lowest among major East Asian economies, and just one-third the share seen in Vietnam. Credit and asset growth were also faster among non-tradables than tradable sectors. The number of merchandise-exporting firms fell, and merchandise exports as a share of GDP declined. These trends matter because tradables — such as manufacturing, agribusiness, tourism, and digital exports — typically drive long-term productivity growth.

WHY TRADABLES MATTER
Tradables are sectors that either compete in global or regional markets or face potential exposure to international competition. They include industries where performance is shaped by international prices, standards, and technologies. These sectors matter not only because they help countries expand exports and grow faster, but because they’re typically more dynamic and innovative.

Across countries, tradables are associated with higher productivity, greater scale, and exposure to competition and learning from global best practices. In the Philippines, exporting firms are roughly 20% more productive than comparable non-exporters. And because they are more productive, they tend to create better paying jobs. The benefits don’t stop there: technology and organizational know-how acquired in tradables often spill over to non-tradable sectors — through supply chains, labor mobility, and the diffusion of practices. A vibrant tradables sector doesn’t just benefit exporters — it lifts capabilities across the entire economy.

Why did tradables fall behind in the Philippines?

The answer lies in a challenging investment climate and limited domestic competition in key enabling services. Firms in tradables rely heavily on inputs like power, transport, and logistics — sectors that until recently faced limited competition. Unlike protected domestic sectors, tradables operate under tight international price constraints and cannot simply pass high input costs on to consumers. Thus, high input prices squeeze their margins. Compounding this, the Philippines has seen a gradual real appreciation of the peso, supported by large remittance inflows, booming IT-BPO exports, and portfolio inflows. While these inflows are a strength, they increase the pressure on tradables to raise productivity just to stay competitive. In this environment, investors naturally shifted toward non-tradables, where returns were higher and risks lower.

WHY THIS MATTERS NOW
Because the structure of the economy matters for future growth. Tradables are the economy’s high gear. They help countries climb the value chain and avoid getting stuck in low-productivity traps. In a world of accelerating technological change, firms exposed to global competition are more likely to adopt new technologies, upgrade their operations, and develop the workforce skills needed to stay ahead. These changes benefit not only tradable firms but also their suppliers, workers, and the broader economy.

Rebalancing toward tradables is not about turning away from domestic services. It’s about unlocking the productivity engine of the economy and ensuring that both tradable and non-tradable sectors benefit from competition, innovation, and learning.

What can be done? Three priorities stand out:

1. Keep bringing more competition into key enabling services. Tradables cannot thrive when energy, transport, and digital connectivity are unreliable or costly. Recent reforms — like amendments to the Public Service Act, the opening of renewable energy sectors to foreign investment, and efforts such as Konektadong Pinoy — are steps in the right direction. Implementation must accelerate. Setting up a renewable energy project, for instance, can require over 300 separate interactions with government — many of them duplicative. These frictions raise input costs and discourage investment in tradables.

2. Combine market access with firm-level support. The Philippines is in the process of signing key trade agreements. But to translate these into export growth, firms — especially small and mid-sized ones — need help connecting to regional and global value chains. Countries that benefited from increased outward orientations did not rely on trade agreements alone. Chile paired trade agreements with practical support. Its export promotion agency helped small firms identify viable markets, connect with buyers, and meet product standards. Slovakia’s integration into EU value chains was aided by programs to bring their firms up to the level required to supply larger and more sophisticated multinationals. The Republic of Korea’s export success rested on a comprehensive industrial and export strategy, that also included a capable cadre of trade attaches across the globe that helped their firms connect to opportunities abroad.

3. Stay the course on macroeconomic stability. A stable macroeconomic environment is essential for long-term investment in tradables. The Philippines has maintained investment grade status since 2013 — a reflection of sound fiscal management, anchored inflation expectations, and a market-based exchange rate regime. Preserving this hard-earned stability is critical. It reinforces investor confidence and lays the groundwork for the steady, forward-looking investments that tradable sectors require.

With the right reforms, the payoff is significant. As the Growth and Jobs Report notes, getting back to a 6.8% growth path would mean millions more jobs and higher household incomes. Tradables offer a path to not just faster, but better growth: more sustainable, more competitive, and more inclusive.

Now is the time to shift gears. The foundation has been laid — what’s needed next is focus, follow-through, and a bold push outward.

 

Gonzalo Varela is the lead economist and program leader for the World Bank’s Prosperity Unit covering the Philippines, Malaysia, and Brunei. He specializes in growth, trade, and open macro, with more than 15 years of experience in policy advisory, policymaking, operations, and research. Kevin Cruz is the country economist for the World Bank’s  Macroeconomics, Trade, and Investment Global Practice. He currently leads the macroeconomic monitoring program of the World Bank Philippines and is working on fiscal policy issues for the Philippines.

IC places HMO under conservatorship

BW FILE PHOTO

THE Insurance Commission (IC) has placed MEDOCare Health Systems, Inc. (MHSI) under conservatorship for failing to comply with the regulator’s product approval rules.

MHSI was placed under conservatorship and prohibited from doing business effective June 18, according to a notice posted on the IC’s website.

“Notice is hereby given that the IC has issued a cease-and-desist order against MHSI due to the company’s continued noncompliance with the product approval requirements under Circular Letter No. 2017-19, as amended.”

The regulator said MHSI was ordered to cease and desist from taking any new HMO business as the company was simultaneously placed under conservatorship.

IC Circular Letter No. 2017-19 covers the guidelines on the approval of HMO products and forms.

The rules prescribe key features of HMO products and their minimum contract provisions and documentary requirements.

HMOs are not allowed to sell products unless the agreements covering these products — or the contracts between the HMO and a healthcare provider outlining the terms and conditions for the services and benefits included in the product — and related contract forms are approved by the UC.

Products offered by HMOs usually provide medical, surgical and hospital services, as well as preventive care and wellness programs.

These are pre-agreed or designated healthcare services that are provided to enrolled HMO members for a fixed prepaid fee for a specified period of time through a selected network of healthcare providers.

Latest IC data showed MHSI had assets worth P374.8 million and liabilities of P193.5 million as of March.

It posted a net income of P12.6 million in the first three months of 2025. — Luisa Maria Jacinta C. Jocson

Unilever taps RE to power Cavite food factory

UNILEVER PHILIPPINES has officially switched on its newly installed solar photovoltaic panels at its Cavite Foods factory to help cut costs and reinvest in further operational improvements.

The 1.2-megawatt solar installation is capable of producing 1,847 megawatt-hours of electricity per year, complementing the factory’s use of geothermal energy, the company said in a media release on Thursday.

“This initiative builds on our long-standing use of renewable energy (RE) for our factories, offices, and facilities. We are building from strength to strength in our operations and sustainability commitments,” said Arvind Sunderrajan, Unilever Foods head of supply chain for the Philippines and Greater Asia.

The company cited the gains from solar power, which cuts costs and eliminates distribution losses. It also offers inflation-proof pricing, providing a hedge against long-term cost increases.

“The projected savings from this program will be reinvested into further operational efficiencies,” the company said.

The company’s Foods factory produces a wide range of products, including mayonnaise, sandwich spreads, and salad dressings. It also packs bouillon cubes and meal-maker powders, catering to both retail consumers and institutional clients.

Since 2022, the factory has expanded its production capacity by 25% and its output by 20%, making it one of Unilever’s largest food manufacturing facilities worldwide.

“At Unilever, our supply chain is the engine that powers our operations,” said Navdeep Singh, head of customer operations for Greater Asia and head of supply chain for the Philippines.

“As consumer expectations evolve toward speed, personalization, and reliability, we’re committed to delivering high-quality products through a supply network that’s agile, resilient, and built for value.”

Unilever is aiming to achieve a 100% reduction in operational emissions by 2030 compared to a 2015 baseline.

The Unilever Foods Greater Asia business unit covers select markets in Southeast Asia and East Asia and is present in the categories of scratch cooking aids, dressings, and functional nutrition. — Sheldeen Joy Talavera

Philippine corporate tax system ranks third-most complex in Asia for MNCs

The Philippines slid 12 places to 63rd out of 71 countries, scoring 0.46 (0 = not complex; 1 = extremely complex), in the 2025 edition of the biennial Tax Complexity Index by Accounting for Transparency. The country now ranks as Asia’s third-most complex corporate tax system for multinational companies (MNCs), based on 20 indicators across tax code and framework.

Philippine corporate tax system ranks third-most complex in Asia for MNCs

Eddie Murphy and Pete Davidson flex comedy muscles in The Pickup

IMDB
IMDB

LONDON — Actor-comedians Eddie Murphy and Pete Davidson team up for The Pickup, a heist movie that sees them sparring as a pair of incompatible armored truck drivers.

Starring opposite Mr. Murphy, 64, was “a bucket list thing” for Mr. Davidson, 31, who had admired Mr. Murphy’s work since he was seven.

Unlike their characters, the two had much in common.

“Pete comes from SNL. He’s a standup comic. We’re both from the East Coast,” said Mr. Murphy. “I love to get into a scene with somebody else that’s funny, improvise with them and start playing, I love it.”

On a routine round of cash pickups, Mr. Murphy’s Russell and Mr. Davidson’s Travis get targeted by criminals. Things get personal when Travis discovers that the thieves are led by his one-night-stand from the night before, played by Keke Palmer, and the life of Russell’s hot-headed wife, played by Eva Longoria, comes under threat. The duo must pull together to save the day.

The script, by Kevin Burrows and Matt Mider, served as their blueprint and director Tim Story encouraged them to go off it, the two said.

“We would do one as written and then Tim and everyone was like, ‘Just go nuts’ and we would end up just trying to one-up each other, we were just trying to make each other laugh,” said Mr. Davidson.

“They were improvising constantly and it was really sweet to see. It’s so cool because you see two different generations,” added Ms. Palmer.

The generational differences also seeped into the scenes, with the fighting taking its toll on Russell’s body.

“Usually in these types of movies or my early movies like the Beverly Hills Cop and 48 Hrs., I was the young maverick and now I’m the older guy,” said Mr. Murphy.

Mr. Murphy has been making movies for 43 years and said new challenges were few and far between.

“I’ve played different ethnicities and different genders. I’ve been inanimate, I’ve played spaceships. I’ve played every type of role you could possibly imagine,” he said, but added he was working on “something fresh and new.”

“We’re doing George Clinton, Parliament Funkadelic, we’re doing his life. And there’s no one like George. So I’ll be in uncharted waters.”

The Pickup starts streaming on Prime Video on Aug. 6. — Reuters

Nearly half of PHL Gen Zs, Millennials consider themselves ‘financially insecure’

STOCK PHOTO | Image by Thirdman from Pexels

THE proportion of Philippine Gen Zs and Millennials who consider themselves financially insecure jumped sharply to nearly half in both cohorts, Deloitte Philippines said, citing the results of a study.

Both generations named the cost of living as their top concern, with 48% of GenZs — those born between 1995 and 2012 and 46% of Millennials — those born between 1980 and 1994 — classifying themselves as financially insecure — up from 30% and 32%, respectively, a year earlier.

Cost of living has been the top concern for both age groups for four consecutive years.

“Most Gen Zs and Millennials started their careers while dealing with a global pandemic and financial crisis, greatly impacting the way they view work and success,” Rukhsana Pervez, human capital leader at Deloitte Philippines, said in a statement.

Some 66% of Gen Zs and 55% of Millennials said they live paycheck to paycheck, while 34% in both generations struggle to pay their living expenses.

The respondents also raised concerns over their long-term financial future, with 41% of Gen Zs and 44% of Millennials concerned about their ability to retire comfortably.

Meanwhile, 31% of Gen Zs and 17% of Millennials said they plan to change careers or companies in the next two years.

They noted that meaningful work and mental well-being are also among the factors influencing their decisions.

Both generations identified finances as their top stressor, with 35% of Gen Zs and 33% of Millennials citing jobs as their main source of stress.

“Financial security is only one piece of the puzzle when it comes to a person’s happiness and job satisfaction, but it is foundational,” the study concluded. “Without financial security, Gen Zs and Millennials struggle to focus on other priorities within their lives and careers, such as meaningful work, flexibility, and work-life balance.”

Deloitte surveyed 23,000 participants across 44 countries, including 419 from the Philippines. — Katherine K. Chan

Letting go

STOCK PHOTO | Image from Freepik

In love and war, timing is everything.

The wise general knows when to fight and when to retreat. There are times when he must lose a battle to win the war. Strategic retreat does not signify total surrender or defeat. It gives the leader and his troops valuable time for tactical planning and the arrival of reinforcements to succeed in the final confrontation.

Struggles for supremacy occur on all levels of life for many reasons — institutional, political, professional, and personal. Power, ego, prestige, recognition, money, and love are the sensitive areas of competition.

The corporate battlefield is the scene of many interesting, intriguing encounters. The titans, known to be ruthless masters of strategy, plan and execute their attacks with cold-blooded cunning. Corporate raiders take calculated risks and strike when logistical conditions are favorable.

During a skirmish, a pragmatic leader is realistic enough to know when to continue fighting and when to cut his losses and concede. Thus, he can conserve vital resources for other clashes for victory.

The desire to be number one, first among equals, is a compelling force. It inspires people to strive for excellence. Colleagues compete for recognition in the industry. Peers fight for promotions within the corporation. It is usually a straightforward battle. Sometimes, there are crosscurrents and undercurrents. It depends on the industry.

Senior executives aspire for the ultimate trophy position — the CEO or COO post.

The climb to the top is a long arduous process, a lifetime goal. Unless, by a sudden twist of fate, and luck, one is catapulted to a position of power and fame.

History has proven that power is seductive, heady, and addictive. Once attained, it is not easy to relinquish. Even when it is time to do so.

Over the years, the news reported stories about defeated individuals who stubbornly refuse to accept reality. In companies, some officers who were once important but are no longer useful are “kicked upstairs” — with titles but no work, no staff. The hint is so strong that one cannot miss the message — “Quit.”

There are delusion-filled officials whose terms have expired but who absurdly cling, physically and emotionally, to their appointive posts. They look for ways to stay, pull strings, and maximize their political connections. There are some self-styled messiahs with “missions” to save the country or the world. But they are not aware that they are passé and irrelevant.

In relationships, the balance of power is a tenuous one. The early stages bring bliss for the lovers who are unconcerned about who makes decisions and who leads the way.

Time passes and reality sets in.

When friction erupts, the faults crack the polished, perfect façade. The ups and downs get worse. Eventually, it becomes too difficult or toxic to stay together. In many cases, a third party appears to exacerbate the tension and alienate the couple. As one lover breaks away to declare his/her independence, the rejected one has two options — to hang on or to let go.

Out of desperation, the emotionally vulnerable one clings, forgets pride, and loses his/her dignity and self-respect.

Perhaps, one can surmise that there are underlying reasons other than the professed principles or dramatic attempts at martyrdom.

Staying in a hopeless situation, fighting for a lost cause, and clinging to the past should have reasonable time limits and boundaries. Taken to excess, they reveal serious character flaws. These are some signs of a grandiosely inflated, fragile ego.

Knowing when to wield power and fight to win a war requires wisdom, vision, strength, and cunning.

Knowing when to let go requires inner grace, a strong sense of what is right and appropriate, courage, equanimity, and a lot of class.

 

Maria Victoria Rufino is an artist, writer and businesswoman. She is president and executive producer of Maverick Productions.

mavrufino@gmail.com

Building the future with APIs

Ever since Sam Altman, CEO of OpenAI, which owns ChatGPT, said “API is the secret sauce for every innovator,” APIs have felt like the hidden engines behind all the cool tech we use today. That phrase stuck with me. It’s simple and true. APIs — application programming interfaces — let different software pieces talk to each other. They’re like a waiter at a restaurant, taking your order, passing it to the kitchen, and bringing back your meal. In tech terms, that meal could be data, functionality, or a service like chatbots, maps, payments…everything.

APIs have been around for a while, but they’re now only getting the spotlight that AI has hogged. Artificial intelligence is shiny, dramatic, and noisy. It’s chatbots, image generators, and autonomous cars. Everyone wants to talk about AI. But I see something quieter and equally important. APIs are the plumbing that makes AI work in the real world. Without them, AI stays in labs and demos.

People often mistake APIs for a tech buzzword. That’s because they’re invisible. They don’t wow with flashy tricks. You don’t hold an API in your hand or see a cool logo, but businesses live and die by them. You want to accept payments online? You use a payment API. You need weather data in your app? There’s a weather API. You want to add AI-powered summaries to your blog? Yep, you guessed it: API.

What makes APIs future-proof is flexibility. When I build something, I don’t need to reinvent the wheel. I can plug in to existing APIs to add features instantly. It’s like building a house from pre-fabricated rooms. You combine what’s already working. It’s efficient. It’s smart. And developers love it because they get to focus on what makes their idea unique, not rebuilding routine parts.

The “secret sauce” phrase Altman used shines because AI depends on APIs, too. AI models are big and complex. You don’t download them to your phone — you call them through an API. Each prompt you send is a request. You hear a response. Behind the scenes, that API is doing a ton of magic. And every time, that magic gets better — like more accurate answers — every service using the API also gets better. Altman explained this in London: improving one central model lifts “the whole world of products and services” built on that API.

But there’s more. APIs don’t just feed data. They allow different services to build ecosystems. Look at ride-hailing apps: they rely on map APIs, messaging APIs, payment APIs, even AI APIs for route suggestions. Each one is like a Lego block, and together they build something powerful. If one block improves, the whole thing gets better. That kind of composite value makes APIs a cornerstone of modern innovation.

However, APIs aren’t a cure-all. They need proper care. If APIs change unexpectedly, your app breaks. If the service stops existing, your feature disappears. If pricing goes up, your costs go up. Companies using APIs need contract clarity — what happens if the API changes? They need monitoring so they catch errors fast. And they still need backup plans. No matter how great the API, you can’t build everything on air.

But the benefits often outweigh the risks. APIs speed things up. They reduce costs. They foster collaboration because teams, even companies, can plug into each other instead of working in silos. That collaboration drives innovation faster than anyone working alone.

I see APIs shifting business strategies, too. Before, tech parks used to focus on building big, global products. Now, local developers use APIs to launch small, targeted tools for their community, like local events apps, neighborhood marketplaces, or hyperlocal news bots powered by AI APIs. That’s a healthy shift. Innovation is spreading.

APIs also force more modular thinking. When you design systems around APIs, you think: “This component does this. That component does that.” It’s a clean way to build. It creates accountability too. If something goes wrong, you know exactly where to look. Modular systems are easier to maintain, upgrade, or replace piece by piece. APIs encourage that mindset.

I talked with a startup founder recently. They wanted to use AI to analyze customer reviews and generate insights. I asked if they had clean data and a workflow to gather reviews. They didn’t. They wanted AI first. I told them that AI needs structure. You can’t just pour data in — you need APIs to collect, clean, and format data, then feed it into AI. Otherwise, the output will be messy. APIs are the foundation beneath shiny tools.

Politically, APIs allow smaller players to compete with big tech. You don’t need a giant team or billions in investment. You need the right API for the right problem. Governments are even opening APIs for public data — transport, health stats, weather. It means civic and social innovation can happen fast, even without massive budgets.

Creative industries benefit too. Media, art, music apps can tap into APIs for recommendations, editing, translation, or even AI content generation. A photographer can add AI-powered color grading to an app with a couple of API calls. A musician can analyze chord progressions. It’s democratizing tools that used to be behind paywalls or big budgets.

So when Altman called APIs the secret sauce, he didn’t mean tech jargon. He meant APIs unlock innovation. They let builders focus on creativity. They link tools together. They make every improvement useful for everyone.

I know people are excited about AI — and rightly so. But AI alone isn’t futureproof. The real future is AI served through stable, accessible APIs. That’s how innovation scales. That’s how startups grow. That’s how companies build smarter services without starting from zero.

APIs are quiet, but powerful. They’re the nuts, bolts, and wiring of the digital world. With APIs, today’s startup can stand on the shoulders of giants. Tomorrow, a new giant might stand on today’s startup. That cycle is what Altman sees — and what is changing how we build everything. APIs are the force multiplier. They’re not just interfaces — they’re the infrastructure of the next tech wave. And that’s why they’re the future.

The views expressed herein are his own and do not necessarily reflect the opinion of his office as well as FINEX.

 

Reynaldo C. Lugtu, Jr.  is the founder and CEO of Hungry Workhorse, a digital, culture, and customer experience transformation consulting firm. He is a fellow at the US-based Institute for Digital Transformation. He teaches strategic management and digital transformation in the MBA Program of De La Salle University. The author may be e-mailed at rey.lugtu@hungryworkhorse.com

World Giving Report: Philippines 24th Most Generous Country

A HIGH percentage of Filipinos donated money to good causes in 2024, making the Philippines the 24th most generous country worldwide, the new World Giving Report by the Charities Aid Foundation (CAF) showed. Read the full story.

World Giving Report: Philippines 24<sup>th</sup> Most Generous Country

Supreme Court: GIS not sufficient proof of shareholding

BW FILE PHOTO

THE SUPREME COURT (SC) ruled that inclusion in a corporation’s general information sheet (GIS) is not sufficient proof of shareholding, noting that the stock and transfer book is the official and primary record for determining a corporation’s shareholders.

“It is established in jurisprudence that the mere inclusion as [a] shareholder in the GIS of a corporation is by itself insufficient proof that such [a] person is a shareholder,” the 17-page ruling penned by Justice Ramon Paul L. Hernando read. “Between the stock and transfer book and the GIS, the former is controlling.”

The ruling, promulgated on April 21 but released only on Thursday, also emphasized that stock ownership must be proven through a stock certificate issued in the individual’s name.

It cited Section 62 of the Revised Corporation Code, which states that a transfer of shares is invalid, except between the parties, until it is properly recorded in the company’s books.

The case arose from special stockholders’ meetings convened by two companies to elect new members to their boards.

Two individuals attempted to participate by sending proxies, but the companies refused to recognize them, asserting that the individuals they represented were not registered stockholders. The meetings continued as scheduled, resulting in the election of new directors.

The individuals challenged the board elections before the Regional Trial Court (RTC), arguing that their exclusion rendered the proceedings invalid due to the absence of a quorum.

The RTC ruled in their favor, citing the GIS as sufficient evidence of their status as stockholders.

However, the Court of Appeals overturned the RTC’s ruling, noting that the individuals’ names were not listed in the companies’ stock and transfer books.

The SC initially affirmed the RTC’s decision, considering the GIS and witness testimonies as adequate proof of stockholder status. But upon the filing of a motion for reconsideration, the High Court revisited the case and ultimately reversed its earlier ruling.

In this case, the individuals failed to provide sufficient evidence to dispute the entries in the stock and transfer books. As a result, they were not recognized as stockholders of record, and their exclusion from the meetings had no bearing on the quorum or the validity of the board elections.

In a dissenting opinion, Associate Justice Ricardo R. Rosario agreed that stock certificates and stock and transfer books hold greater evidentiary weight than the GIS. However, he said that these records are not definitive or absolute proof of stock ownership. — Chloe Mari A. Hufana

Stuff to Do (08/01/25)

Watch a documentary on the zarzuela

CATCH a screening of the documentary Tiempo de Zarzuela by Cristina Otero Roth on Aug. 1, 3 p.m., at the Intramuros branch of Instituto Cervantes. This is part of a month-long cultural program highlighting the shared legacy of zarzuela in the Philippines, presented by the Instituto Cervantes, the Embassy of Spain, and the University of Santo Tomas (UST). From Aug. 1 to 28, the cultural celebration, entitled Zarzuela Viva, will feature weekly zarzuela screenings, a zarzuela workshop, and a zarzuela recital. To be screened on Aug. 7, 3 p.m., at the Intramuros branch of Instituto Cervantes is a production by Teatro de la Zarzuela of the classic La del manojo de rosas by Pablo Sorozábal. This will be followed by a screening of Alfredo Sanzol’s production of El barberillo de Lavapiés by Francisco Asenjo Barbieri, on Aug. 14, and a screening of El sobre verde by Jacinto Guerrero on Aug. 28. These last two screenings will take place at 3 p.m. at the Central Laboratory Auditorium of the University of Santo Tomas. From Aug. 18 to 22, a four-day Zarzuela Workshop will be conducted by Spanish pianist Ramón Grau from Teatro de La Zarzuela in Madrid, at the Conservatory of Music of UST. On Aug. 26, the zarzuela workshop participants and Mr. Grau will present a concert, Zarzuela-Sarswela, at the Education Auditorium, UST. This event is open to public, but they should register early through this link: https://forms.office.com/e/gqQYWUHzSb. For more information about Zarzuela Viva, visit Instituto Cervantes’ website at www.manila.cervantes.es, or follow it on Facebook at https://www.facebook.com/InstitutoCervantesManila/.

Learn some history at Gateway’s HistoEx

A THREE-DAY expo celebrating the Philippines’ historic and cultural treasures will take place for free at the Quantum Skyview of Gateway Mall 2 in Quezon City. History to Experience (HistoEx) will take place from Aug. 1 to 3. It is a production of the National Historical Commission of the Philippines (NHCP) in partnership with Araneta City and the J. Amado Araneta Foundation. With the theme “Diwa ng Kasaysayan, Kabilin sa Kabataan,” it will have exhibitors from all over the country, special performances, talks, and lectures. For the full schedule, check out the social media pages of Gateway Mall and NHCP.

Watch Peter and the Wolf and Little Red Riding Hood

BALLET meets drama meets orchestral music as Ballet Philippines (BP), Repertory Philippines (Rep), and the Manila Symphony Orchestra (MSO) collaborate for a kid-friendly season opener: Peter and the Wolf, a symphonic tale for children, and Little Red Riding Hood, a full-length ballet. Throughout the performance, live orchestral music will be provided by the MSO, with the full orchestra remaining onstage for the entire show. Peter and the Wolf and Little Red Riding Hood will run for five performances from Aug. 1 to 3 at The Theatre at Solaire in Parañaque City. Tickets are available via TicketWorld and at the Solaire Box Office.

Enjoy Side Show: The Musical at Power Mac

ONGOING until Aug. 17 at Circuit Makati’s Power Mac Center Spotlight is the Sandbox Collective’s production of Side Show: The Musical, which revolves around the life of conjoined twins and their fellow “freaks” who live in a carnival in 1930s America. The cast features Jon Santos, Tanya Manalang, Molly Langley, and Marvin Ong. Tickets are available through Ticket2me.

View the special screening of WPS documentary

THE Foreign Correspondents Association of the Philippines (FOCAP) will host a special screening of the documentary Food Delivery: Fresh from the West Philippine Sea on Aug. 1 at the Power Plant Cinema, Rockwell, Makati. There will be a talkback with the documentary’s director Baby Ruth Villarama, producer Chuck Gutierrez, and Philippine Coast Guard Commodore Jay Tarriela after the screening. The documentary showcases the efforts and struggles of Filipinos in staking their claim in the hotly contested West Philippine Sea (WPS) and South China Sea. Tickets are on sale (on a first come, first served basis) at P1,000 each. To register, fill out this form: https://bit.ly/FOCAPFoodDelivery.

Grab a movie deal at Robinsons Galleria

ROBINSONS GALLERIA is celebrating the 45th anniversary of Robinsons Land Corp. (RLC) with movie blockbuster deals. Until Aug. 17, moviegoers can enjoy up to 45% off on Robinsons Movieworld tickets at Robinsons Galleria Ortigas.

Get a fright at home through Final Destination Bloodlines

NEW Line Cinema and Warner Bros. Pictures’ Final Destination Bloodlines is making its global streaming debut exclusively on HBO Max. Starring Kaitlyn Santa Juana, Teo Briones, Richard Harmon, Owen Patrick Joyner, Anna Lore, Rya Kihlstedt, Brec Bassinger, and Tony Todd, it is the latest installment of the popular horror series Final Destination. It follows college student Stefani who heads home to track down the one person who might be able to break the cycle of death in their family — her grandmother, Iris. The movie is directed by Adam Stein and Zach Lipovsky.

Listen to TYLA’s 4-track bundle

SINGER-SONGWRITER TYLA has dropped “WWP’ (WE WANNA PARTY),” her first new project since her debut album. The new bundle of songs features the singles “BLISS” and “IS IT,” produced by P. Priime and Sammy Soso. There is also a guest appearance by WizKid on the track “DYNAMITE.” It is out now on all digital music streaming platforms.

Watch Marvel’s Eyes of Wakanda on Disney+

AFTER being unveiled at the Annecy International Animation Festival last month, Marvel Animation’s Eyes of Wakanda is now streaming on Disney+. The four-episode series is an action adventure that follows the Wakandan warriors Hatut Zaraze throughout history as they carry out dangerous missions to retrieve Vibranium artifacts from the enemies of Wakanda. It features the voices of Winnie Harlow, Cress Williams, Patricia Belcher, Larry Herron, Adam Gold, Lynn Whitfield, Jacques Colimon, Jona Xiao, Isaac Robinson-Smith, Gary Anthony Williams, Zeke Alton, Steve Toussaint, and Anika Noni Rose.

Listen to brei’s new single

RISING OPM artist brei has unveiled her latest single, “Kislap,” under Universal Records. The song’s core message is finding and choosing that one special person among a thousand faces in the crowd. It is out now on all digital music streaming platforms.

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