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Fintechs to drive growth in credit card issuance

PJCOMP-FREEPIK

CREDIT CARD ISSUANCES could grow faster this year, driven by heightened competition among financial technology (fintech) players, the Credit Card Association of the Philippines (CCAP) said.

“[Credit card issuance growth will] probably go faster because there’s more competition coming in. Fintechs are starting to land, but that’s also helpful to us because they’re ushering in these non-credit borrowers into the credit market and eventually, we feel that they will trade up to a credit card,” CCAP Executive Director Alex G. Ilagan said at a media briefing on Tuesday.

Card issuance increased by 12% year on year to 18.5 million in 2025, Mr. Ilagan said, citing data from a quarterly survey of its members.

“It’s still quite low in terms of penetration, considering the adult population is probably 17 million — so, it’s very low penetration. We feel there’s still a very deep potential market that we can tap into.”

The entry of new fintechs gives consumers access to more credit products like buy now, pay later (BNPL), which could eventually lead to them getting credit cards, the official said.

He added that applying for cards has become easier as the National ID initiative has helped streamline documentary requirements, and with more credit information now available through efforts of the Credit Information Corp. (CIC) to address the data gap.

“These two major hindrances in the past have already been addressed. So, it’s just a matter of making the market aware that this is now available. You can now apply for a credit card, you can now apply for loans from registered lenders. Even microfinance and credit cooperatives, this will be very useful for them. And that’s what we’re trying to educate them on, especially in the provincial areas.”

However, growth in the cards market and the resulting increase in credit card receivables could pose some asset quality risks, Mr. Ilagan said.

“As long as the delinquency level is under control, we don’t mind the credit card receivables growing fast. That’s a natural result when people revolve, meaning they don’t pay in full,” he said.

“As long as they continue to behave well, meaning they pay on time and they don’t become passive, we feel it’s going to be a very healthy situation because we’re able to extend credit.”

RATE CAPS
Meanwhile, CCAP is pushing for the removal of the cap on credit card rates, Mr. Ilagan said, adding that the group submitted a position paper to the Bangko Sentral ng Pilipinas (BSP) late last year, which has already been discussed by the Monetary Board.

“We still feel that they should lift the cap. We feel that the market will eventually determine what’s the best rate,” he said. “There’s no decision yet so we’re still waiting for the subsequent meetings. Maybe in the coming months, they might make a decision.”

“That has always been the policy of BSP ever since. We were surprised when during the term of Governor [Benjamin E. Diokno], they imposed that. In the past, it’s always been market driven. There will be competition… So, we feel that a cap is unnecessary at this point. There’s no more pandemic.”

He added that lifting the ceiling could boost credit card penetration as issuers will be able to charge higher rates to lend to riskier segments.

“That’s natural, because if you offer unsecured credit to a risky segment, then you have to compensate by charging higher,” Mr. Ilagan said.

In August 2023, the BSP retained the interest rate ceiling on unpaid outstanding card balance at 3% per month or 36% a year. The limit on the monthly add-on rate that issuers can charge on installment loans was also maintained at 1%.

The maximum processing fee on the availment of credit card cash advances was likewise retained at P200 per transaction.

The BSP increased the cap by 100 basis points in January 2023 from 2% to match the cumulative rate hikes previously delivered by the Monetary Board to tame elevated inflation. The higher cap was also meant to mitigate the impact of inflation on banks and credit card issuers following the coronavirus pandemic. — Aaron Michael C. Sy

Century Properties gets approval for P12-B debt securities program

CENTURY-PROPERTIES.COM

THE Securities and Exchange Commission (SEC) has approved Century Properties Group, Inc.’s debt securities program, allowing the company to offer an initial tranche of up to P5 billion in bonds as part of a broader P12-billion shelf registration.

In a meeting on Jan. 15, the Commission En Banc rendered effective the company’s registration statement, covering fixed-rate bonds under the shelf registration, subject to Century Properties’ compliance with certain remaining requirements, the SEC said in a statement on Wednesday.

The listed property developer plans to offer up to P3 billion in fixed-rate bonds for the initial tranche, with an oversubscription option of up to P2 billion, bringing the potential total of the offering to P5 billion.

The bonds will include four-year Series D bonds maturing in 2030 and seven-year Series E bonds maturing in 2033, both issued at face value.

If fully subscribed and with the oversubscription exercised, the initial offering is expected to generate net proceeds of up to P4.9 billion, which the company intends to use for its residential development projects.

The offer period is scheduled from Jan. 26 to 30, with listing on the Philippine Dealing & Exchange Corp. targeted for Feb. 6, according to the timetable submitted to the SEC.

Century Properties appointed China Bank Capital Corp. as sole issue manager, which will also serve as joint lead underwriter and bookrunner alongside PNB Capital and Investment Corp.

On Wednesday, Century Properties shares rose by 4.11%, closing at 76 centavos apiece. — Alexandria Grace C. Magno

Britain needs ‘AI stress tests’ for financial services, lawmakers say

AUSTIN DISTEL-UNSPLASH

LONDON — Britain’s financial watchdogs are not doing enough to stop artificial intelligence (AI) from harming consumers or destabilizing markets, a cross‑party group of lawmakers said on Tuesday, urging regulators to move away from what it called a “wait and see” approach.

In a report on AI in financial services, the Treasury Committee said the Financial Conduct Authority (FCA) and the Bank of England (BoE) should start running AI‑specific stress tests to help firms ‌prepare for ‌market shocks triggered by automated systems.

The committee also called on the FCA to publish detailed guidance by the end of 2026 ‌on how consumer protection rules apply to AI, and on the extent to which senior managers should be expected to understand the systems they oversee.

“Based on the evidence I’ve seen, I do not feel confident that our financial system is prepared if there was a major AI-related incident and that is worrying,” Committee Chair Meg Hillier said in a statement.

TECHNOLOGY CARRIES ‘SIGNIFICANT RISKS’
A race among banks to adopt agentic AI, which unlike generative AI can make decisions and take ‌autonomous action, runs new risks for retail customers, the FCA told Reuters late last year.

About three‑quarters of UK financial firms now use AI. Companies are ‌deploying the technology across core functions, from processing insurance claims to performing credit assessments.

While the report acknowledged the benefits of AI, it warned the technology also carried “significant risks” including opaque credit decisions, the potential exclusion of vulnerable consumers through algorithmic tailoring, fraud, and the spread of unregulated financial advice through AI chatbots.

Experts contributing to the report also highlighted threats to financial stability, pointing to the reliance on a small group of US tech giants for AI and cloud services. Some also noted that AI‑driven trading systems may amplify herding behavior in markets, risking a financial crisis in a worst-case scenario.

An FCA spokesperson said the regulator welcomed the focus on AI and would review the report. The regulator has previously indicated it does not favor AI‑specific rules due to the pace of technological change.

The BoE did not respond to a request for comment.

Ms. Hillier told Reuters that increasingly sophisticated forms of generative AI were influencing financial decisions. “If something has gone wrong in the system, that could have a very big impact on the consumer,” she said.

Separately, Britain’s finance ministry appointed Starling Bank CIO Harriet Rees and Lloyds Banking Group’s Rohit Dhawan as “AI Champions” to help steer AI adoption in financial services. — Reuters

Judge orders Timothy Busfield’s release from jail pending child sex abuse charges

TIMOTHY BUSFIELD in a scene from Entourage.

ACTOR-DIRECTOR Timothy Busfield, known for roles in The West Wing and Field of Dreams, was ordered to be released from jail on Tuesday as he awaits further proceedings on child sexual abuse charges after a New Mexico judge called the evidence against him “neutral.”

Prosecutors allege Mr. Busfield, who is married to actor Melissa Gilbert, improperly touched two young cast members — twin boys — while directing the Fox TV drama The Cleaning Lady, which was filmed in New Mexico.

Mr. Busfield, 68, turned himself in last week after prosecutors in Albuquerque filed a criminal complaint charging him with child abuse and two counts of criminal sexual contact with a minor. He has professed his innocence, calling the allegations against him “lies.”

“As it stands today, with the limited information I have in front of me, I’ll characterize the weight of the evidence against the defendant as neutral at this point,” Judge David Murphy said at a court hearing on Tuesday.

The judge ordered Mr. Busfield released from custody pending further proceedings in the case. A preliminary hearing was scheduled for Jan. 29, during which prosecutors will need to establish probable cause to proceed to a trial.

According to an arrest warrant affidavit that accompanied the criminal complaint, the twin boys, now 11, reported the alleged contact occurred over a two-year period, when they were aged seven and eight. Mr. Busfield was an executive producer of the show and began directing episodes around the end of the second season in 2022.

Deputy District Attorney Savannah Brandenburg-Koch told the court on Tuesday that a hospital doctor first contacted law enforcement in November 2024 after the boys told the physician that Mr. Busfield had engaged in behavior that could be characterized as “grooming.” But she said the boys alleged acts of actual sexual abuse to a therapist in September 2025.

Defense lawyer, Christopher Dodd, countered that the twins had denied they were sexually abused by Mr. Busfield under questioning from a law enforcement officer. In the recording of the interview, which was played in court, the officer asks each of the boys if they had been “touched in private areas” by Mr. Busfield, and the boys both say, “no.”

The judge said later during the hearing that it’s “not uncommon” for children who are alleged victims to initially deny sexual abuse.

Mr. Dodd also described the boys’ mother and father as “scam artists” in court, saying the parents wanted “revenge” on the director after the twins were removed from the series cast.

Called as a witness by the defense, Allan Cabillo, director of photography for The Cleaning Lady, said he never observed Mr. Busfield behaving inappropriately with the boys. He said the boys did not return for the show’s final season because they had aged out of their roles.

In a video posted online shortly before his surrender, Mr. Busfield denied the allegations, saying, “I did not do anything to those little boys.”

Mr. Busfield is known for his prime-time television roles as a White House reporter on the NBC political drama The West Wing, which ran from 1999 to 2006, and as an ad agency executive on the 1980s ABC ensemble series Thirtysomething. In the 1989 movie Field of Dreams, he played the brother-in-law of Kevin Costner’s lead character.

In his own interview with police for the investigation in November, Mr. Busfield acknowledged he probably had physical contact with the boys on occasion, like tickling or picking them up, but in a playful manner with others present, the affidavit said. — Reuters

Emotion, not reason, behind plunder raps vs Recto in PhilHealth fund transfer

In 2024, several countries were so hard up economically that their GDP growth was really low, like Italy’s 0.7%, Japan’s 0.1% and Germany’s -0.2%, which was an economic contraction. Other Asian countries were growing at below 5%, like Singapore’s 4.4%, Taiwan’s 4.3%, Thailand and Hong Kong’s 2.5%, and South Korea’s 2%.

But the Philippines grew by 5.7%, the third highest growth among the world’s top 50 large economies by GDP size, trailing only Vietnam and India.

Our inflation rate also fell, from 6% in 2023 to only 3.2% in 2024, and further down to only 1.6% in 2025 (see the table).

The outstanding performance of the Philippines was led by the economic team including former Finance Secretary Ralph G. Recto. President Ferdinand R. Marcos, Jr. saw Mr. Recto’s hard work at the Department of Finance (DoF) so he promoted him to be his Executive Secretary last November.

Then out came the brickbats. See these reports in BusinessWorld: “Plunder, other raps filed vs Recto, Ledesma over PhilHealth fund transfer” (Dec. 22, 2025), “Fresh plunder complaint filed against Recto, Ledesma over PhilHealth fund transfer” (Jan. 15).

I think these cases can be considered “emotional misconduct” by the petitioners, who used the Supreme Court ruling on the Philippine Health Insurance Corp. (PhilHealth) fund transfer but did not read the arguments of the Justices who said that there was no plunder, no malversation of funds, no misconduct on the part of Mr. Recto. As per Justice Raul B. Villanueva:

“As previously discussed, and further explained herein, Special Provision 1(d) and DoF Circular No. 003-2024 are not unconstitutional….

“Crucially as well, the requisite elements, among others, for both technical malversation or plunder are not present. For plunder, the core element of amassing or acquiring ill-gotten wealth is completely negated as the PhilHealth fund balance was actually remitted to the National Treasury, and to no one else, particularly not even to the Office of the President or the DoF. As to technical malversation, a key element is that the questioned funds was placed ‘under (the offender’s) administration,’ which is not what happened in the case of the PhilHealth fund balance since what was transferred to the National Treasury was not directly handled by the President or the DoF Secretary….

“Secretary Recto cannot be held liable for issuing DoF Circular No. 003-2024… The DoF was directed to issue DoF Circular No. 003-2024 as required in Special Provision 1(d). In doing so, it precisely obeyed a special provision in the 2024 GAA. Clearly, the DoF did not act solely on its own or issued the subject circular without any basis or authority at all. The language of Special Provision 1(d) is unequivocal; the DoF has the duty to issue the guidelines to implement the said provision within 15 days from the effectivity of the 2024 GAA. For its obedience, no fault can or should be attributed to the DoF…

“To hold Secretary Recto liable in any way whatsoever is like punishing him for simply doing his job. If he did not comply with the valid dictates of Special Provision 1(d), then he may possibly become culpable of violating the law, which would have made his situation even worse.”

Justice Raul Villanueva was my contemporary at the University of the Philippines (UP) School of Economics undergrad in the mid-1980s. We belong to the same organization, UP Economics Towards Consciousness (UP-ETC), along with Justice Marvic Leonen, though they are respectively younger and older than me by one year. Justice Villanueva was an intelligent economics student, then proceeded to UP Law. His arguments in the excerpt above are consistent with his high academic achievements and objective assessment.

The petitioners used emotion and not reason, and intellectual dishonesty when they filed their plunder case against Mr. Recto. The man has worked hard to improve the Philippines’ economy. Let him do more hard work for the country and not be harassed by emotional litigation.

 

Bienvenido S. Oplas, Jr. is the president of Bienvenido S. Oplas, Jr. Research Consultancy Services, and Minimal Government Thinkers. He is an international fellow of the Tholos Foundation.

minimalgovernment@gmail.com

Peso recovers as tariff woes drag dollar

BW FILE PHOTO

THE PESO rebounded on Wednesday as global investors sold US assets, including the dollar, due to renewed trade concerns amid President Donald J. Trump’s latest tariff threats.

The local unit closed at P59.261 versus the greenback, surging by 19.4 centavos from its P59.455 finish on Tuesday, data from the Bankers Association of the Philippines showed.

The peso opened Wednesday’s trading session stronger at P59.39 against the dollar. Its best showing was at P59.235, while its intraday low was at P59.40 against the greenback.

Dollars traded rose to $1.557 billion from $1.212 billion on Tuesday.

The local unit jumped against the dollar as Mr. Trump’s latest tariff threats caused markets to unload their US assets, the first trader said in a phone interview.

“The peso appreciated as the ongoing concerns over the Fed and geopolitical concerns between the US and Europe continue to drag on the dollar,” a second trader said in an e-mail.

For Thursday, the second trader said the peso could weaken again ahead of likely strong US gross domestic product (GDP) data.

The first trader said the peso could move between P59.10 and P59.40 against the dollar, while the second trader said it could range from P59.15 to P59.40.

The dollar languished near three-week lows against the euro and Swiss franc in the Asian session on Wednesday after White House threats over Greenland triggered a broad sell-off in US assets, from the currency to Wall Street stocks and Treasury bonds, Reuters reported.

Declines in the US dollar accelerated sharply overnight with a 0.53% slide in the dollar index — which measures the currency against six major peers — marking its worst single-day performance in six weeks. On Wednesday, it was up slightly at 98.612.

The greenback dropped more than 1% against Europe’s shared currency at one point on Tuesday to the lowest since Dec. 30 at $1.1770 per euro. It was last changing hands at $1.1716.

The dollar plunged nearly 1.2% to reach 0.78795 Swiss franc on Tuesday, also the lowest since Dec. 30, before recovering slightly to last trade at 0.7911 franc.

On Monday, Mr. Trump’s renewed tariff threats against European allies over Greenland prompted a repeat of the so-called “Sell America” trade that emerged following US tariff announcements last April.

Investors dumped dollar assets on “fears of prolonged uncertainty, strained alliances, a loss of confidence in US leadership, potential retaliation and an acceleration of de-dollarization trends,” said Tony Sycamore, market analyst at IG in Sydney. — A.M.C. Sy with Reuters

SEC says DoJ to file charges vs Modesto OPC for investment solicitations

BW FILE PHOTO

THE SECURITIES and Exchange Commission (SEC) said the Department of Justice (DoJ) will file criminal charges against Modesto Cardano Market Cap Tr3ding Services OPC, as well as its officials, for allegedly soliciting investments from the public without proper registration.

In a statement on Wednesday, the SEC said the DoJ found sufficient evidence to charge the Modesto OPC for possible violations of the Securities Regulation Code (SRC) and the Cybercrime Prevention Act.

The SEC’s Enforcement and Investor Protection Department (EIPD) began monitoring Modesto OPC in March 2024 after the company failed to submit hard copies of its articles of incorporation. A subsequent investigation found that the firm was promoting investments through social media. Its schemes reportedly included multiple plans such as compensation profit and expert options, promising guaranteed monthly returns of 10% to investors.

“The certifications issued by the…SEC show that respondent [Modesto OPC] is not a registered issuer of securities. It is not licensed or authorized to publicly offer or sell securities nor does it have any pending application for registration of securities,” the DoJ resolution read.

“Investment solicitation from the public, like the one performed here, is a form of securities issuance classified as investment contracts. Accordingly, it must be registered with the SEC before offering the same to the public,” it added.

The company’s sole stockholder, director, and president were also cited for potential violations of Sections 8 and 28 of the SRC, in relation to Section 6 of the Cybercrime Prevention Act. Under Sections 8 and 28 of the SRC, entities offering securities to the public must first secure registration and a secondary license from the SEC.

Modesto OPC did not immediately respond to an e-mail seeking comment. — Alexandria Grace C. Magno

Term deposit yields drop on policy bets

BW FILE PHOTO

THE BANGKO SENTRAL ng Pilipinas’ (BSP) seven-day term deposits fetched slightly lower yields on Wednesday on expectations for further monetary policy easing.

Bids for the central bank’s term deposit facility (TDF) amounted to P162.768 billion, well above the P110 billion auctioned off and the P150.07 billion in bids for the same offer volume last week.

This was equivalent to a bid-to-cover ratio of 1.4797 times, up from the 1.3643 seen a week earlier.

The BSP fully awarded its offering of one-week papers.

Accepted yields were from 4.44% to 4.5075%, narrowing from the 4.44% to 4.5149% band recorded in the previous auction. With this, the average rate of the one-week deposits slipped by 0.28 basis point (bp) to 4.4982% from 4.501%.

The central last auctioned off both the seven-day and 14-day deposits on Oct. 29.

It has not offered 28-day term deposits for over five years to give way to its weekly offerings of securities with the same tenor.

Both the TDF and BSP bills are used by the central bank to mop up excess liquidity in the financial system and better guide market rates towards the policy rate.

TDF yields declined on bets that the BSP would cut benchmark rates and big banks’ reserve requirement ratios (RRR) further, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said.

“These could further reduce borrowing costs, help spur greater demand for loans and investments that, in turn, could help lead to faster economic growth, which has been a policy priority after softer economic growth while inflation remains relatively benign,” he said in a Viber message.

BSP Governor Eli M. Remolona, Jr. earlier said they could consider a sixth straight 25-bp cut at their first policy review this year on Feb. 19, although this could be “unlikely” as the current key rate is already close to their ideal level, signaling a nearing end to their easing cycle.

The Monetary Board has slashed key borrowing costs by a cumulative 200 bps since August 2024, bringing the policy rate to an over three-year low of 4.5%.

Analysts expect the central bank to ease its policy stance further to help support the economy amid the fallout from a graft scandal linked to allegedly anomalous flood control and infrastructure projects.

Governance concerns have stalled public spending and hit investor confidence, leading to weaker growth, which analysts expect to persist this year as issues remain unresolved.

Meanwhile, Mr. Remolona has also said that they are open to lowering universal and commercial banks’ RRR further this year as the current 5% level is “still a bit high.”

The BSP last trimmed banks’ RRR in February last year. It has delivered a total of 450 bps in cuts to big banks’ RRR since October 2024, 350 bps for digital banks, 200 bps for thrift banks, and 100 bps for rural and cooperative banks. — Katherine K. Chan

FTC appeals ruling in Meta antitrust case over Instagram, WhatsApp acquisition

DESIGN.FACEBOOK.COM

THE US Federal Trade Commission (FTC) is seeking to revive its case accusing Facebook parent company Meta Platforms of bolstering an illegal monopoly by acquiring Instagram and WhatsApp, the FTC’s spokesperson said on Tuesday.

The case is part of a crackdown on Big Tech that President Donald Trump started during his first term. Despite a ruling last year dismissing the case, “our position has not changed,” FTC spokesperson Joe Simonson said.

“Meta violated our antitrust laws when it acquired Instagram and WhatsApp. Consequently, American consumers have suffered from Meta’s monopoly,” Mr. Simonson said.

Facebook bought Instagram in 2012 and WhatsApp in 2014. The FTC did not seek to block the deals at the time, but sued in 2020 alleging that Meta, then known as Facebook, held a monopoly on US platforms used to share content with friends and family.

The agency sought to force Meta to restructure or sell Instagram and WhatsApp to restore competition, saying the company spent billions of dollars on the acquisitions to eliminate nascent competitors.

US District Judge James Boasberg in Washington ruled in November that the company does not hold a monopoly now because it faces competition from TikTok.

“The District Court’s decision to reject the FTC’s arguments in this matter is correct — and it recognizes the fierce competition we face. Meta will remain focused on innovating and investing in America,” Meta spokesperson Andy Stone said in a post on social media site X on Tuesday. — Reuters

Russell Brand appears in UK court by video link on further rape, sex assault charges

Russell Brand in a 2010 appearance on Conan. — IMDB

LONDON — British actor and comedian Russell Brand appeared in a London court by video link on Tuesday charged with additional sexual offences allegedly committed against two women nearly two decades ago.

Mr. Brand, once one of Britain’s most high-profile broadcasters and former husband of US pop singer Katy Perry, appeared at Westminster Magistrates’ Court accused of raping one woman and sexually assaulting a second woman in 2009.

The 50-year-old, wearing a denim shirt, appeared remotely for the brief hearing from Florida in the United States, his lawyer Ian Winter said.

Brand has consistently denied having non-consensual sex since allegations were first aired in 2023.

He was charged last year with two counts of rape, one count of indecent assault and two counts of sexual assault against four women between 1999 and 2005.

He pleaded not guilty in May to those five charges and is due to stand trial in June at Southwark Crown Court, where a hearing in the case of the new charges will be held next month.

After the original charges were announced, he said he had been a fool and a sex addict in his younger days but “what I never was, was a rapist.”

In the 2000s, Mr. Brand was a regular on British screens, known for his flamboyant style and appearance.

He worked for the BBC and starred in a number of films including Get Him to the Greek before marrying Ms. Perry in 2010. They divorced 14 months later.

By the early 2020s, he had faded from mainstream culture, appearing primarily on his internet channel where he airs his views on US politics and free speech. — Reuters

No more coddling

STOCK PHOTO | Image by from Freepik

THERE’S ALWAYS a search for the best way to motivate people in the workplace. Is constant praise from the boss accompanied by the encouragement of peers and subordinates still in vogue? (You look good with the butterfly tattoos on your neck, Jack.)

Does the coddling approach really work in achieving corporate goals? Or do compliments just encourage mediocrity and a false sense of complacency that everything is just fine, even in a crisis?

Whether coddling (You have a unique talent we need to tap) or toughness (Read my lips — you’re out of here) defines a corporate culture, success is still measured in the resulting numbers of market share, revenue, and net profits.

Is a tough management style applicable even in the home? A parenting book in 2011 dismissed the almost obsessive quest for self-esteem in children (Oh you spilled milk on the sofa, Dear…nice creamy color). Instead, the school of tough love promotes a drill sergeant’s tactics to build a child’s competitiveness — don’t shame me with your silly silver medal. (I must disclose here that I have yet to read Amy Chua’s The Battle Hymn of the Tiger Mother).

It is not easy to differentiate verbal attacks born out of tough love to elicit excellent performance from mere loathing. (I don’t even like the way he tucks in his shirt). “Constructive criticism” indeed may be an oxymoron, a self-contradicting phrase like “working vacation.” Criticism in any form is meant to be destructive.

The only time criticism can be considered constructive is if it is explicitly solicited — do you think I should back out of the project?

Hiding behind tough love to deliver a disparaging attack on subordinates or peers is neither courageous nor honest. Why not just criticize and then leave it at that, without expecting a warm embrace afterwards? To make verbal punches feel like going to the gym (no pain, no gain) requires fancy footwork.

Still, there are clues when disparagement comes from a true desire to be helpful.

The tone of the censure can be teasing or merely ironic, maybe accompanied by a little finger-wagging — you’ve been a naughty boy. It can also be visceral and filled with invectives like the repetition of the word for a low IQ three times.

The attack may be isolated and specific to the action being denounced. It is the sin and not the sinner that is being singled out — although the two are inseparable at that point. The incident is not demonstrated in the context of past actions going all the way back to birth and parentage.

The self-proclaimed friend voicing out her negative opinion can speak in a low voice and not making a public scene — there’s snot hanging out of your left nostril, Dear.

Critics seldom take censure well themselves. They’re very liberal with putting down others publicly. But when it comes to taking even a mild rebuke, they can overreact with emotional outrage.

Tough bosses may pride themselves with having trained executives to take criticism and learn from their mistakes. (They are now CEOs themselves in bigger companies.)

Anyway, even tough bosses can show a warmer side. Even a single incident of uncharacteristic charity can stand out in the nostalgic get-togethers of former subordinates. Maybe, the SOB (those are his initials) secretly assisted financially with somebody’s hospitalization.

Constructive criticism as a management tool needs to be reviewed. It is possible to lead by showing the way and even extending a helping hand without delivering any disparaging remark — of course, you didn’t see the motorcycle swerving in front of you.

Anyway, there are now companies that take pride in being recognized as “the best place to work in.” Maybe the culture of praise and encouragement still has a place. An occasional reminder need not be harsh. (Are you sure you turned off the faucet?)

Correcting another person’s mistake can even be mentioned much later. The lessons from mistakes made can still be learned over drinks and cholesterol-laden snacks… definitely with less stress and resentment.

 

Tony Samson is chairman and CEO of TOUCH xda

ar.samson@yahoo.com

IWG to open six new flexible work centers in PHL

STOCK PHOTO | Image by Photoangel from Freepik

MULTINATIONAL OFFICE solutions firm International Workplace Group (IWG) plans to open six new centers in the Philippines in the first quarter.

“We’re excited to bring six new IWG centers to key cities across the Philippines. Our goal is to provide businesses of all sizes with flexible, fully equipped workspaces that make hybrid working seamless and productive,” IWG Philippines Country Manager Rowena Bravo-Natividad said in a statement on Wednesday.

“These openings reflect the growing demand for high-quality office solutions, and we’re proud to offer work environments that are professional, adaptable, and close to where people live,” she added.

According to Colliers’ 2026 Asia Pacific Workplace Insights Report, 82% of Philippine organizations use hybrid work models, 32% plan workplace upgrades next year, and flexible workspaces could account for 30% of commercial real estate by 2030.

“We are expanding our presence across the Philippines with six new centers this quarter, at a time when flexible and platform working is becoming the default model for companies of all sizes,” IWG Plc Middle-East, Africa & Asia Pacific Chief Executive Officer Marc Descrozaille said.

“Our model not only supports better work-life balance and improves employee satisfaction, but also helps businesses boost productivity, scale efficiently, and manage costs, all while giving teams access to thousands of professional locations around the world,” he added.

The expansion is part of IWG’s plan to open 29 new nationwide locations, bringing its Philippine total to 76 centers by the end of 2026.

The six new centers are Spaces Calle Industria in Quezon City, Spaces The Stiles Enterprise Plaza in Makati City, HQ Kalayaan Building in Makati City, Regus E-Square Mall in San Juan City, Regus i2 Building in Cebu City, and Regus Island Central Mactan in Lapu-Lapu City, Cebu. These facilities will feature private offices, meeting rooms, and co-working and creative spaces.

IWG operates more than 5,000 locations across 121 countries. In the first half of 2025, it expanded further, with a network exceeding one million rooms worldwide. In 2024, the company added 899 partner locations and counted 83% of Fortune 500 companies among its clients. — Alexandria Grace C. Magno

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