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Entertainment News (07/15/25)

HBO Max is back

STREAMING platform HBO Max is back this July, coming from the name Max. Originally launched as HBO Max back in 2020, it was briefly rebranded as Max in 2023 following the merger of Warner Media and Discovery which formed Warner Bros. Discovery, in an effort to broaden its appeal and highlight its diverse offerings.

GIVĒON releases sophomore album

THE second studio album of R&B artist GIVĒON, titled BELOVED, is out now, via Epic Records. The album is executive-produced by Sevn Thomas and contains 14 tracks, led by singles “Twenties” and “Rather Be.” Various producers have worked on the different tracks, including Jahaan Sweet. BELOVED is out now on all digital music platforms.

Eastwood City mounts collector’s pop-up

EASTWOOD CITY is inviting collectors and fans to explore the 52Toys and Mattel Pop-Up Store at Eastwood Mall Atrium, open from July 9 to 20. This special collaboration features Mattel brands like Barbie, Hot Wheels, and Jurassic World alongside 52Toys’ Disney-themed blind boxes, for pop culture enthusiasts of all ages. Shoppers can enjoy exclusive promos, including a free Jurassic Guidebook for those who download the Jurassic Play app, and join the 52Toys photo contest for a chance to win a full blind box series.

Indonesian surf rock band The Panturas to perform in Manila

INDONESIA’S acclaimed surf rock quartet, The Panturas, is set to bring their high-octane energy to Manila on July 19, at the Sari Sari bar in Makati City. Presented by Shoplifters United, the Manila show marks their first-ever performance in the Philippines and will serve as the first stop of their 2025 Asian tour before the band heads to Japan. Known for their electrifying blend of vintage surf riffs, psychedelic textures, and garage-punk energy, the Indonesian band will be joined by local acts Oh, Flamingo!, (e)motion engine, Pikoy, and We Are Imaginary. Pre-sale tickets are available at P400 for a limited time only. Updates will be posted via Shoplifters United.

Chess thriller Rematch premieres on Lionsgate Play

REMATCH, a psychological thriller based on the historic 1997 chess showdown between world champion Garry Kasparov and IBM’s Deep Blue, is coming to Lionsgate Play on July 18. The six-part French series dives deep into the tension, paranoia, and drama behind the battle of human brilliance versus machine intelligence. It stars Christian Cooke as Garry Kasparov and explores what happens when genius meets artificial intelligence.

Muri, Shigge capture the twilight in new song

FILIPINO soul-pop artist Muri and Japanese electronic producer Shigge have dropped “Golden Hour,” the first single off their upcoming joint EP, SETSUNA, to be released next month. The track serves as the entry point into the shared universe Muri and Shigge crafted together, capturing the fleeting beauty of twilight. It was first conceived during a songwriting camp at the AXEAN Festival in Bali, Indonesia last year. They will also have a five-stop tour between Tokyo and Manila, with the two Manila stops scheduled for Aug. 1 at Sari Sari and Aug. 2 at Electric Sala, both in Makati City.

Eraserheads: Combo on the Run to screen at San Diego Comic-Con

THE music documentary Eraserheads: Combo on the Run is set to make history as the first Filipino-produced film and the first music documentary to screen at the San Diego Comic-Con (SDCC). Its 2025 iteration is taking place from July 24 to 27. There will be a panel discussion at Exhibit Hall 6BCF, led by director and producer Diane Ventura and Eraserheads frontman Ely Buendia.

Hyun Bin is coming to Manila

KOREAN STAR Hyun Bin, known for his roles in Crash Landing On You, Secret Garden, and My Lovely Sam Soon, is coming to Manila on Aug. 8. Solaire will hold a raffle for this event. Every P2,000 net single-receipt spent from July 1 to 31 at any bar or restaurant in Solaire Resort Entertainment City or Solaire Resort North can earn one a chance to score a seat to “Hyun Bin Landing at Solaire.” There will be 500 lucky winners, 250 from each Solaire location. The raffle will be on July 31, 7 p.m. Tickets must be personally claimed between July 31 and Aug. 7.

Robinsons Movieworld waives online booking fees until August

UNTIL Aug. 31, Robinsons Movieworld is waiving its P20 online booking fee. Moviegoers can enjoy zero transaction fees once they book their movie tickets online, either through Robinsons Movieworld’s website or the Rmalls+ App. The promo was launched to encourage mallgoers to skip the lines and catch the biggest blockbusters without extra charge.

Janno Gibbs signs with GMA Music

GMA MUSIC has signed the Philippine King of Soul, Janno Gibbs, to the label. Mr. Gibbs, in a statement, expressed his gratitude and excitement to reunite with the record label: “It feels really good to be back home sa GMA Music. I feel really at home with these guys.” His partnership with GMA Music marks a full-circle moment in his career, since he was one of the very first artists signed by then-GMA Records back in 2004.

Comedy series Confidence Queen to premiere on Prime Video

THIS September, Prime Video will be premiering Confidence Queen, a Korean comedic caper series starring Park Min-young, Park Hee-soon, and Joo Jong-hyuk. The series follows a trio of clever swindlers who team up to take down corrupt villains through elaborate schemes. It promises a thrilling ride for global audiences, to be available in over 240 countries and territories. It is a remake of the popular Japanese series Confidence Queen, this time helmed by director Nam Ki-hoon and penned by Hong Seung-hyun.

Bitcoin scales $120,000 level for the first time

STOCK PHOTO | Image by André François McKenzie from Unsplash

SINGAPORE — Bitcoin crossed the $120,000 level for the first time on Monday, marking a milestone for the world’s largest cryptocurrency as investors bet on long-sought policy wins for the industry this week.

Bitcoin scaled a record high of $122,571.19, before pulling back slightly to last trade 2.4% higher at $121,952.61.

Later in the day, the US House of Representatives will debate a series of bills to provide the digital asset industry with the nation’s regulatory framework it has long demanded.

Those demands have resonated with US President Donald J. Trump, who has called himself the “crypto president” and urged policymakers to revamp rules in favor of the industry.

“It’s riding a number of tailwinds at the moment,” said IG market analyst Tony Sycamore, citing strong institutional demand, expectations of further gains and support from Mr. Trump as reasons for the bullishness.

“It’s been a very, very, strong move over the past six or seven days and it’s hard to see where it stops now. It looks like it can easily have a look at the $125,000 level,” he said.

The surge in Bitcoin, which is up 29% for the year so far, has sparked a broader rally across other cryptocurrencies over the past few sessions even in the face of Mr. Trump’s chaotic tariffs.

Ether, the second-largest token, scaled a more than five-month top of $3,059.60, while XRP and Solana gained about 3% each.

The sector’s total market value has swelled to about $3.81 trillion, according to data from CoinMarketCap.

“What we find interesting and are watching closely are the signs that Bitcoin is now being seen as a long-term reserve asset, not just by retail investors and institutions but even some central banks,” said Gracie Lin, OKX’s Singapore CEO.

“We’re also seeing increasing participation from Asia-based investors, including family offices and wealth managers. These are strong signs of Bitcoin’s role in the global financial system and the structural shift in how it is perceived, suggesting that this isn’t just another hype-driven rally.”

Earlier this month, Washington declared the week of July 14 as “crypto week”, where members of Congress are set to vote on the Genius Act, the Clarity Act, and the Anti-CBDC Surveillance State Act.

The most significant bill is the Genius Act, which would create federal rules for stablecoins.

Elsewhere, prices of crypto-listed exchange-traded funds (ETFs) in Hong Kong similarly surged on Monday.

Spot Bitcoin ETFs launched by China AMC, Harvest and Bosera all scaled record highs, while the three ether ETFs managed by the asset managers were up more than 2% each. — Reuters

An LGU good governance model for shared prosperity

STOCK PHOTO | Image from Freepik

At the Management Association of the Philippines (MAP), our reflections on shared prosperity sometimes drift to the public sector where there is so much potential for uplifting the lives of Filipinos. Among local government units (LGU), we saw good governance models that produce shared prosperity. Let us focus on one example. We will avoid names and present this example as a generic path available to all who wish to try it.

Our chosen good governance model consists of a three-step framework with implementation practices for each step. Step one is laying the foundation for good governance, mainly by eliminating graft and corruption. Step two is optimizing nurtured resources through projects that benefit many. Step three is institutionalizing reforms by embedding transparency, integrity and public involvement in the structure and culture of the LGU organization.

STEP 1. LAY THE FOUNDATION
Our example’s first primary practice in building a foundation for good governance is the installation of a procurement process that is devoid of overpricing, kickbacks, commissions, rigged biddings, wasteful and inefficient purchasing, low quality supplies and substandard results. A clean procurement process enables an LGU to mobilize funds for much needed projects.

Picture a water hose. A water hose peppered with punctures can only produce a trickle of water at the end of the hose. In the same manner, public resources are dissipated before they reach beneficiaries by a procurement process that is riddled with graft and corruption.

Cleansing the procurement process is a Herculean task in LGUs dominated by an ecosystem of greed and dishonesty. For instance, a mayor may have enriched himself by engaging in public works through allied construction firms and suppliers. Fish rots from the head, they say. In such an ecosystem, we see lower officials asking for blank or altered receipts from traders or hinting at bribes from companies applying for building and occupancy permits.

The second primary practice in building a foundation for good governance is the creation of a well-trained bureaucracy that is fully committed to serving the people. From one regular employee for every 10 workers, our example upped the ratio to seven regular employees for every 10 workers. Instead of being contractual workers who are beholden to a benefactor, regular employees can focus on the welfare of people whom they serve.

The third primary practice in building a foundation for good governance is leading by example. We see the head of our LGU example doing on-site inspections. This leader is no armchair general who stays in an air-conditioned office. This leader goes to where the problem is to see first hand what is happening on the ground. This act indicates humility and solidarity with ordinary employees.

STEP 2. OPTIMIZE MOBILIZED RESOURCES
In the optimization of mobilized resources for good governance, the first primary practice of our example is taking advantage of low-hanging fruits and available opportunities. Take the following instances. In the early stages of improving the procurement process, our example gave substantial assistance to its constituents during the pandemic. The rent for public market stalls was lowered. And ongoing land disputes were refereed so that more than 3,000 families were saved from moving to distant relocation sites.

The second primary practice for optimizing mobilized resources is the identification and execution of big projects that truly matter in the lives of many people. Our example initiated two vertical housing projects within its boundaries for people who must be transferred from danger zones. Our example also acquired a 12-hectare property that will feature a master-planned township for people in need of shelter.

In addition, our example put up one of the largest dialysis centers in the country and a new care facility for the elderly. The inner city hospital was expanded from 60 to 120 beds. Support for students was increased without strings attached. No more joining parades and missing classes for students who receive subsidies from the LGU.

A mind-boggling debt-free project of our example is the construction of a new city hall complex that includes a plaza and several service buildings across a two-hectare area. About 60,000 square meters of floor space will be developed. Thousands of jobs will be created. This project will cost P9.6 billion, a staggering amount generated from the elimination of corruption in the procurement process.

STEP 3. INSTITUTIONALIZE GOOD GOVERNANCE
Our example seeks to institutionalize good governance to avoid backsliding into a shameless culture of graft and corruption. The first primary practice for institutionalizing good governance is crafting a leadership pipeline dedicated to transparency, integrity, discipline and service. These values must be in the heart of political performance. Such a leadership pipeline increases the probability that good governance will endure.

The second primary practice for institutionalizing good governance is the formation of organizational mechanisms that compel virtuous performance. Our example takes seriously the participation of NGOs and concerned citizens in the monitoring of budgets and public projects from start to finish. The creation of a bureaucracy with a deeply ingrained culture of honesty and service is a bulwark against corruption.

A PATH OF LEAST RESISTANCE
The three-step good governance framework and the primary practices associated with each step brings shared prosperity to life. Politicians and officials using this framework will find it much easier to choose luminous service and a meaningful legacy instead of chasing popularity, power, pleasure and pelf.

 

Gerardo “Jun” Villacorta Cabochan, Jr. is a co-vice chairman of the MAP SP Committee. He is the managing director of Pandayan Bookshop.

map@map.org.ph

jvc@pandayan.net

Economic basis of net zero is zero, redux

Consider this as Part 2 of my earlier article in this column, “Economic basis of net zero is zero” (Sept. 5, 2023). In that paper, I compared coal consumption per capita, electricity generation per capita and GDP per capita for the period 2002 vs 2022.

The results were: one, Industrial countries that have fast “decarbonization” and are weaning themselves away from coal consumption have an overall electricity generation that either flatlines or declines, and their GDP per capita has expanded by two times at most. And two, the electricity generation of developing Asian countries that have expanded their coal consumption per capita has doubled or quadrupled, and their per capita GDP has expanded up to five times.

For simpler definition, “net zero” here refers to the goal of deliberate reduction of coal/total power generation or C/T ratio as countries transition towards more solar/wind in their electricity production.

In this column, I will compare the C/T ratio and total power generation of countries over four decades, their average inflation rate and average GDP growth.

Two industrialized countries have experienced an ironic decline in their total power generation — the UK and Germany. The UK’s electricity generation fell from 327 terawatt-hours (TWh) in 1994 to 285 TWh in 2024 or a 12.7% change. Germany’s power generation fell from 528 TWh in 1994 to 497 TWh in 2024 or a 5.9% change. The decline coincided or was indirectly caused by a huge decline in average C/T ratio — the UK from 62% in 1994 to only 5% in 2024, and Germany from 57% in 1994 to 31% in 2024.

In contrast, China and Vietnam had a 987% and 2,370% increase, respectively in total power generation from 1994 to 2024. The decadal C/T ratio was 64-77% for China and 29-43% for Vietnam. The Philippines had a 326% increase in power generation from 1994-2024 and average C/T ratio rose from7% to 56% (see Table 1).

The economic consequences of rapid “decarbonization” and mad rush to net zero for the industrial west are clear. For the period 1985-1994 to 2015-2024, average GDP growth rate was declining for the UK from 2.6% to 1.4%, for Germany from 2.8% to 0.9% and for Canada from 2.4% to 1.8%.

The average inflation rate from 1995-2004 to 2015-2024 periods for the decarbonizing and net zero countries had rising trend: from 1.6% to 3% for the UK, from 1.3% to 2.7% for Germany and from 2% to 2.6% for Canada.

In contrast, coal-heavy Asians had rising or high growth GDP from 4-10% and declining average inflation rate. This was true for the Philippines, India, Malaysia, Indonesia, China and Vietnam. Taiwan, Thailand and South Korea had modest GDP growth of 2-9% and low inflation rate (see Table 2).

So for developing, emerging and industrialization-aspiring countries like the Philippines, we should prioritize net growth and not net zero, declining inflation and not declining power generation. The economic basis of net zero is zero. So I repeat the conclusion of my earlier article on this topic: We should prioritize our national agenda — more sustained growth, more job creation, more electricity for rising demand from households and industry. The global agenda of global ecological central planning should take a backseat.

My hats off to three Philippine energy companies that have big coal plants — Aboitiz Power, Meralco Power Gen (MGEN) and San Miguel Global Power. They may be demonized by climate-obsessed activists, but they are the ones that give us 24/7 electricity in this country and keep the investors here to continue creating jobs.

 

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

Pedro Pascal: Fantastic Four reboot focuses on family and unity

PEDRO PASCAL and Vanessa Kirby in The Fantastic Four: First Steps (2025)

COLLECTIVE STRENGTH and the optimism of the 1960s are the driving forces of The Fantastic Four: First Steps, its stars Pedro Pascal and Vanessa Kirby say.

Helmed by WandaVision director Matt Shakman, the movie reboots the Fantastic Four film series, which is based on the Marvel Comics super-team. It comes ten years after the last Fantastic Four film flopped at the box office and received scathing reviews.

With a starry ensemble cast, the retro-futuristic, 60s-inspired movie introduces Marvel’s “First Family” — Mr. Pascal’s Reed Richards/Mister Fantastic, Ms. Kirby’s Sue Storm/Invisible Woman, Joseph Quinn’s Johnny Storm/Human Torch and Ebon Moss-Bachrach’s Ben Grimm/The Thing.

Drawing on their bond and superhero strengths, the foursome must take on the planet-devouring cosmic entity called Galactus, played by Ralph Ineson, and his herald, Silver Surfer, played by Julia Garner.

“It’s about family. It’s about caring for humankind. It’s about protecting human innocence and knowing that you can’t do it alone. We can only do it together,” said Mr. Pascal, launching the film in London on Thursday.

Being part of the Marvel Cinematic Universe was “an actor’s dream,” Mr. Pascal, 50, said.

“To get to step into it for the first time in an ensemble, with a vision that is very dedicated to its origins and the characters in the stories that people originally fell in love with when they were first published in 1961, and the charm of something that has optimism and a very pure heart, is everything,” he said.

Ms. Kirby, who is expecting her first child, said playing Sue Storm, who has a baby in the movie, was also a lesson in motherhood.

“She really changed my whole perspective on it, honestly,” Ms. Kirby said.

“It was so inspiring and emotional for me to play this part where she could be as much part of the team, a working mother, who was able to do everything, wasn’t sidelined. The baby became part of the journey. And it taught me that everything is possible as a woman.”

Mr. Pascal, Ms. Kirby, and Messrs. Quinn and Moss-Bachrach are on a global publicity tour to promote the movie and have praised the bond they formed through the film.

“What it means for me is that I have a really loving year,” said Mr. Moss-Bachrach, who also stars on the hit show The Bear. “I spend some of the year in Chicago working with people that I love so dearly, and then I come out to London and work with some other people that I love so dearly. I’m in a very fortunate position.”

The Fantastic Four: First Steps begins its global cinematic rollout on July 23. — Reuters

Digital platform aims to solve Metro Manila leasing woes

PHILIPPINE STAR/MICHAEL VARCAS

DORMY PH, a local property technology startup, is expanding its digital rental platform to support the entire leasing process as it seeks to simplify renting for both tenants and property owners in Metro Manila.

The company previously focused on digitizing the search and inquiry stages. With its new mobile app, Suzy Rent, it now aims to offer a fully digital, end-to-end experience for renters and landlords.

“We’re eyeing to give a fully digital renting experience to at least 3,000 Filipinos this year with our second brand, Suzy,” Kurt Lenard T. Gutierrez, co-founder and chief executive officer of Dormy PH, said in an e-mailed reply to questions.

“In previous years, we were only digitizing the search-to-inquiry portions of the transaction, this time around, we’re going full end-to-end.”

Suzy Rent, a word play on the Filipino word susi or key, is designed to cover the entire rental process digitally. It includes tenant screening, online lease signing, and online rental payments, with features supported by artificial intelligence.

“We’re currently focused on Metro Manila, for one, because it’s the majority market for renting, and two, we’ll contribute to alleviating the condo oversupply crisis,” Mr. Gutierrez said.

The capital region has around 82,800 unsold condominium units across 638 actively selling buildings, equivalent to three years’ worth of inventory, according to Leechiu Property Consultants.

“We’re lowering the barriers to renting by bringing them online and oiling the friction of rental transactions, helping demand find supply, and strengthening the precision of market data for the industry,” Mr. Gutierrez said.

Dormy PH was founded in 2022 as a college project that sought to address challenges students faced in finding near-campus housing when face-to-face classes resumed. For its pilot phase, it partnered with 18 universities to connect students with dormitories in Manila’s University Belt.

“Renting just sucked, and I knew that myself and the rest of Gen Z will probably be renting in the next decade as we move into ‘adulting,’” Mr. Gutierrez said.

He added that many renters still encounter issues such as fake or outdated listings, which the platform aims to minimize by hosting verified listings and digital tools.

With the growing use of digital payments and e-commerce platforms, Mr. Gutierrez said the shift to digital renting is a “natural progression.”

Dormy PH currently has 35,000 registered users and over 800 property hosts.

The most common transactions on the platform involve condominium units, apartments, and dormitories, particularly those located near universities in Manila and Quezon City, and in employment hubs like Makati and Bonifacio Global City.

“By building Suzy, our leasing and automation mobile app, and linking it with the marketing and rental classifieds strength or Dormy PH — the target is to let Filipinos experience how it’s like to book a rental and do everything: search, inquiry, signing, screening, payments, and landlord communication — fully online,” said Alyssa Casandra W. Wee, co-founder and chief operations officer.

Dormy PH primarily targets students and young professionals, while Suzy Rent is positioned as a general-purpose app for a wider base of renters and landlords, said Co-founder and Chief Technology Officer Bryce Ivan C. Cataran.

When searching for units, most renters prioritize three factors: price, location, and house rules, said Co-founder and Chief Marketing Officer Sean Carlo O. Francisco.

“They’re looking for units that are affordable and practical — ideally close to their school or workplace — and flexible enough to allow essential activities like cooking, laundry, and hosting visitors,” he said.

Mr. Francisco added that renters tend to respond well to clear, emotionally resonant listings.

Listings with room tours, layout visuals, and proximity to key locations tend to attract more interest, he said, while fast and clear responses from landlords are also a major factor in decision-making.

“Messaging that makes a rental feel like home rather than just another room tends to resonate more and convert better,” Mr. Francisco said. — Beatriz Marie D. Cruz

Megaworld says Cebu tower nearly sold out amid rising expat demand

By Charmaine A. Tadalan, Sub-Editor

CEBU — Megaworld Corp. has nearly sold out units at its La Victoria Global Residences in Cebu, with property prices increasing by 71% since the project’s launch in 2018.

The 20-story building, located within Megaworld’s Mactan Newtown in Lapu-Lapu City, is now being offered at an average price of P300,000 per square meter, up from the initial average price of P175,000. The company attributed the increase to developments within the township reaching advanced stages and to a growing number of foreigners seeking to settle in Cebu.

The price appreciation is “because of the completion of a lot of developments… that made this township very mature,” Megaworld Vice-President and Head for Public Relations and Media Affairs Harold Brian C. Geronimo said at a June briefing during a media tour of La Victoria.

Around 95% of the 181-unit tower has already been sold, Mr. Geronimo said, adding that Megaworld will begin turnover to unit owners within the year.

“We’ve almost sold out the units, [yet] there’s still a demand, very strong demand for units here in Mactan Newtown, on this side of Cebu,” he said.

“In Lapu-Lapu City, there is still a spike in demand not just from locals, but more importantly, from foreigners who want to settle here in Cebu.”

Mr. Geronimo linked the foreign demand to the development of the Mactan-Cebu International Airport, which is about 15 minutes from the township, and to the rise in direct international flights to Cebu.

“The airport is serving more flights [and] more passengers every year, compared to when the airport was small,” he said.

“There has been an influx of a lot of tourists coming to Cebu, not to Manila.” Among the countries that have direct flights to Cebu are Singapore, the United States, Japan, South Korea, Qatar, and the United Arab Emirates.

Data from the Cebu provincial government showed that more than 5.1 million tourists visited the island province in 2024, of whom 1.9 million were foreign visitors.

South Korean travelers accounted for most of the arrivals, with 1.028 million. They were followed by tourists from the US (234,511), Japan (226,755), China (127,084), and Taiwan (88,728). Other visitors came from Australia, Germany, France, the United Kingdom, and Canada.

Mr. Geronimo said there is strong interest in Cebu properties among foreign visitors, some of whom have already set up businesses locally.

“There has been a lot of interest in properties from a lot of foreign visitors. They’ve settled here and chosen Cebu to be their second home,” he said.

“Also, there are a lot of tourists who have established their businesses in Cebu [that’s] tourism related.” He added that the company is open to allowing residents to host Airbnb units, although final policies would be up to the homeowners’ association.

La Victoria is located at the heart of the township, across from the Savoy Hotel Mactan Newtown and the Belmont Hotel Mactan, which is being rebranded under Accor’s Mercure Hotel. Belmont will also house international dining concepts, including Gordon Ramsay Fish & Chips and Street Burger by Gordon Ramsay — marking the chef’s first location outside Metro Manila.

Mactan Newtown Beach is also within walking distance of the tower, giving residents access to the beach, an infinity pool, and a Ceremonial Garden with an open-air setting for events such as weddings and retreats, among other resort-style amenities.

Mr. Geronimo also attributed the price appreciation to the township’s location, which is surrounded by international hotels.

“If you try to look at the spike, all the international resorts are surrounding Mactan Newtown. We are just beside Shangri-La. There’s Sheraton, there’s Dusit [Thani], they’re all here,” he said.

“We are the only township so far here in Lapu-Lapu City.”

The 30-hectare Mactan Newtown offers more than 2,400 residential units across seven buildings, including La Victoria, and operates more than 80,000 square meters of office space. Educational institutions, including the Newtown School of Excellence, along with retail and service establishments, are also located within the township.

It will also house Cebu’s first standalone convention center, the Mactan Expo, which is being prepared to host the ASEAN Summit and the ASEAN Tourism Forum in 2026.

Soon, the Mactan World Museum will open within the township to showcase a collection highlighting the historical ties between the Philippines and Spain.

A NOD TO HISTORY
Much like Megaworld’s other developments, La Victoria pays tribute to significant historical events that took place on Mactan Island.

Its name is derived from Spain’s Galleon Victoria, the ship that circumnavigated the globe and brought Ferdinand Magellan to the Philippines in 1521.

“This is a very unique condo. This really celebrates the rich history of Mactan Island, which is the arrival of the Galleon Victoria, the first ever galleon that circumnavigated the globe in the 1500s,” Mr. Geronimo said.

“We are celebrating that. We are right in the area where that happened.”

The tower’s design features Spanish architectural elements. Its name, La Victoria Global Residences, is inscribed on the façade along with the phrase Viaje Español de 1519-1522.

The lobby displays three artworks depicting maps of Mactan Island, Spain, and Homonhon Island — where Magellan first landed — as well as a miniature replica of the Galleon Victoria.

La Victoria offers units ranging from 38 to 118 square meters, each with a balcony. A 79-square-meter two-bedroom unit with three bathrooms and a maid’s room sells for about P20 million. A 59-square-meter one-bedroom unit with two bathrooms is priced at P14 million, while a 38-square-meter studio unit sells for about P9 million.

All units come with a finished kitchen, air conditioning, and a video intercom system.

The third-floor amenity deck features an infinity pool, a kiddie pool with a sunbathing deck, a children’s play area, a function room, a fitness center, a jogging path, a fitness trail, and a daycare center.

Residents also enjoy panoramic views of the Hilutungan Channel, Cebu Strait, and Magellan Bay — constant reminders of Cebu’s place in Philippine history.

Japan election could hamper BoJ hiking cycle

REUTERS

TOKYO — Japan’s central bank may face political pressure to keep interest rates low for longer than it wants, as opposition parties favoring tax cuts and loose monetary policy are expected to gain influence after a July 20 election.

Opinion surveys suggest Prime Minister Shigeru Ishiba’s coalition may lose its majority in the upper house of parliament, forcing it to court an array of smaller parties pushing for easier fiscal and monetary policy.

The governing bloc led by Mr. Ishiba’s Liberal Democratic Party (LDP) is already a minority in the more powerful lower house, so a stalemate in both chambers could give opposition parties outsized influence in policy decisions.

Mr. Ishiba has supported the Bank of Japan’s (BoJ) policy of gradually lifting interest rates from near zero as inflation picks up in the world’s fourth-biggest economy, while trying to curb the biggest government debt burden in the industrial world.

But if opposition groups gain traction with their pressure on the BoJ to avoid rate hikes and for the government to cut the sales tax, that could boost bond yields and complicate the bank’s efforts to normalize monetary policy, some analysts say.

The BoJ declined to comment on the potential impact of the election on monetary policy.

“There’s a 50% chance the ruling coalition could lose its majority in the upper house, which could lead to increased debate about cutting Japan’s consumption tax rate,” said Daiju Aoki, chief Japan economist at UBS SuMi Trust Wealth Management.

“That would push up Japan’s long-term interest rates by stoking concern over the country’s finances,” he said.

DEBT SET TO RISE
Sohei Kamiya, head of the upstart right-wing party Sanseito, has criticized the BoJ for slowing its bond buying when the economy remains weak.

“The Ministry of Finance and BoJ should work hand in hand in taking aggressive steps for a few years to boost domestic demand,” Mr. Kamiya told a press conference this month.

Another small group, the Japan Innovation Party, wants the BoJ to go slow in raising rates to restrain the cost of interest on the government’s debt.

Yuichiro Tamaki, head of the Democratic Party for the People, a party seen as a strong candidate to join Mr. Ishiba’s coalition, has urged the BoJ to loosen, not tighten, monetary policy to keep the yen from rising and hurting the export-reliant economy.

Even if the coalition keeps its majority, Mr. Ishiba may need to ditch his hawkish fiscal tilt and boost spending to cushion the economic blow from threatened US tariffs and rising costs of living.

“There’s a good chance the government will compile an extra budget to fund another spending package to the tune of ¥5-10 trillion ($35 billion to $70 billion). That would push up bond yields further,” said former BoJ board member Makoto Sakurai, who expects the central bank to avoid raising rates at least until March.

Japan’s public debt is equal to 250% of gross domestic product, far above that of Greece at 165%. The government spends nearly a quarter of its budget to finance a ¥1,164-trillion ($7.9-trillion) debt pile, with the cost expected to rise steadily as the BoJ exits zero-interest rates.

‘NEED TO BRACE’
To be sure, inflation — above the BoJ’s 2% target for three years — boosts nominal tax revenues, which can help the government avoid ramping up bond issuance to fund further spending.

But cutting the sales tax rate, an idea Mr. Ishiba has ruled out for now, would leave a bigger hole in Japan’s finances. Once a fringe idea, cutting the 10% sales tax is now among Japan’s most popular economic policy proposals.

In a recent poll by the Asahi newspaper 68% of voters thought a sales tax cut was the best way to cushion the blow from rising living costs, compared with 18% who preferred cash payouts.

If the sales tax is on the chopping block after the election, it is the kind of vital issue that could prod Mr. Ishiba to dissolve the lower house and call a snap election — a move that would prolong political uncertainty.

If Mr. Ishiba were to step down, an LDP race to replace him could revive market attention to candidates like Sanae Takaichi, an advocate of aggressive monetary easing whom Mr. Ishiba narrowly beat in the party’s leadership race last year.

Unlike Mr. Ishiba, who gave a quiet nod to BoJ policy normalization, Ms. Takaichi has said it would be “stupid” for the central bank to raise rates.

All this would mean the BoJ’s rate hikes, already on pause due to uncertainty over US tariffs, could be put on hold even longer.

“We may need to brace for a long period of political uncertainty and market volatility,” said Naomi Muguruma, chief bond strategist at Mitsubishi UFJ Morgan Stanley Securities.

“That would just give the BoJ another reason to sit on the sidelines and wait for the dust to settle.” — Reuters

Copper tariffs won’t bring back US manufacturing

STOCK PHOTO | Image by Wirestock from Freepik

By Matthew Yglesias

PRESIDENT Donald Trump’s proposed 50% tariff on copper imports is emblematic of the administration’s incoherent approach to economic policy: Soaked in nostalgia for America’s industrial past, it pursues strategies that will make it harder for US manufacturers to succeed now and in the future.

In announcing his policy on Truth Social, Trump noted that copper “is necessary for Semiconductors, Aircraft, Ships, Ammunition, Data Centers, Lithium-ion Batteries, Radar Systems, Missile Defense Systems, and even, Hypersonic Weapons, of which we are building many.”

This is all more or less correct. So why would you then want to raise taxes on copper? Increasing the price Americans pay for copper makes the US a less desirable location for building aircraft, ceding advantage to competing producers in Europe, Brazil and Canada. It makes it harder to establish a domestic semiconductor manufacturing industry. It exacerbates the already dire state of the US shipbuilding industry, which is wholly reliant on protectionist policies.

The strategic value of copper might be a basis for protectionism if the US were getting its copper from hostile or unstable countries. But copper is not a rare earth mineral, for which the US must rely on Chinese suppliers, nor is it like oil in the pre-fracking era, when the US had to import it from questionable regimes in the Middle East. Most US copper imports come from Chile, and the next two major suppliers are Canada and Peru.

Meanwhile, there is also a robust domestic copper industry, which accounts for about half the copper used in the US. Much of this copper comes from the swing state of Arizona, which may offer a narrow partisan rationale for copper protectionism. But there is no strategic problem with importing copper from friendly countries in the Western Hemisphere — and every reason to worry that deliberately raising the price of a widely used production input will hamper US competitiveness in crucial industries.

This is, unfortunately, not an unusual consequence of Trump’s trade policy: By applying taxes on intermediate goods, he is encouraging the US to specialize in resource extraction and primary commodities at the expense of complicated manufactured goods.

“Industrial policy,” to the extent that it works, functions by moving a nation’s economy up the value chain. In the early days of the American Republic, for example, Alexander Hamilton worried that the US would continue to be a de facto economic colony of Europe. As a sparsely populated nation with abundant natural resources, a totally unregulated market might have caused America to specialize in exporting raw materials to Europe, which would in turn export manufactured goods back to America. As an alternative, he proposed protective tariffs to promote the growth of the US industry.

Leaders in this Hamiltonian tradition — John Quincy Adams, Henry Clay, Abraham Lincoln — believed in an active state that would invest in canals and railroads, field a powerful navy and promote industrialization. They were opposed by largely Southern political elites whose wealth was bound up with cotton exports and slavery. They had no objection to the idea of an agrarian nation.

Trump borrows the tariffs from the Hamiltonian tradition, but completely misses the larger logic of the program, as well as the altered nature of the modern economy. Over time, as the world has become richer and shipping has become cheaper, the cutting edge of manufacturing has become increasingly complicated. These days it’s common to assemble a finished product from parts made in countries all around the world, with each part containing a staggering array of raw materials.

Countries get richer by specializing at the more complex end of the spectrum. To the extent that you can boost US natural-resource production by eliminating low-benefit regulatory barriers, that’s a win. But boosting the US copper-extraction industry at the expense of US copper-using industries is a recipe for de-industrialization. And much the same applies to Trump’s obsession with protectionism for industries like steel and aluminum, which are not raw materials exactly, but inputs to the production of things like cars and airplanes. For the US to be a manufacturing powerhouse, its industries need access to the cheapest possible inputs.

It’s also worth considering that even though 19th century pro-industrialization politicians favored tariffs, Trump is likely overrating their importance in promoting the growth of factories. One important manufacturing input, after all, is workers. As the economic historian Doug Irwin has noted, the era’s growth depended on population expansion — by which he means immigration — and capital accumulation. Tariffs, he writes, “may have discouraged capital accumulation by raising the price of imported capital goods.”

Fun historical irony aside, the kind of quasi-open borders of the Gilded Age would probably not be a major boost to US manufacturing today. But a serious industrial policy would take seriously the case for a visa program for skilled workers with experience in fields such as semiconductors, batteries and shipbuilding. At a minimum, the goal should be to avoid actions that make things worse.

Trump is right that copper is an important commodity. But it’s been thousands of years since mining copper was considered an innovative economic activity. Copper is important because it’s used to make other stuff. The goal of US trade policy, not to say industrial policy, should be to help America become a better place to make stuff that the world wants and needs. Trump’s nostalgia economics is pushing the US further from that goal.

BLOOMBERG OPINION

Uniqlo owner warns significant tariff impact, plans price hikes

STOCK PHOTO | Image by Howen from Unsplash

JAPAN’S Fast Retailing, owner of the Uniqlo clothing brand, said on Thursday higher US tariffs would start impacting its US operation significantly from later this year and it planned to raise prices to mitigate the blow.

Concerns about resurgent inflation and an economic slowdown triggered by US President Donald J. Trump’s erratic tariff roll-out have already dampened shopping enthusiasm in the US and other major consumer markets. Earlier this week, Mr. Trump has set a new Aug. 1 deadline for “reciprocal” tariff rates, which will affect nearly all trading partners.

“It is unavoidable that we will be significantly affected from autumn and winter,” Fast Retailing Financial Officer Takeshi Okazaki said in its quarterly earnings conference.

“It will be difficult to absorb all costs. Our approach will be to raise prices where possible and not where it isn’t possible, while ultimately focusing on creating a sustainable business that securely generates profits.”

The majority of Uniqlo products sold in the US are produced in Southeast Asia and South Asia.

In a letter on Wednesday, Mr. Trump notified Sri Lanka, a major apparel exporter to the US, would face a 30% tariff from Aug. 1. Its competitor Vietnam faces a lower 20% US tariff but trans-shipments from third countries through Vietnam will face a 40% levy, Mr. Trump said last week.

For the current fiscal year to end-August, the company kept its operating profit forecast at 545 billion yen, as it expected limited tariff impact due to early shipments to the US market.

“FY2025 impact likely to be limited, whatever the tariff rate,” the company said in an earnings statement, adding it has already shipped a substantial number of products to the US.

Fast Retailing said operating profit in the three months to May 31 rose 1.4% to 146.7 billion yen ($1 billion), below a consensus forecast of 153.8 billion yen based on a LSEG poll of five analysts.

From one store in Hiroshima, western Japan, 40 years ago, Uniqlo has grown to more than 2,500 locations across the world, selling inexpensive fleeces and cotton shirts made primarily in China and other Asian manufacturing hubs.

But that business model has been upended by widespread tariffs announced by Mr. Trump, while falling sales in China due to weak consumer demand in the world’s second-largest economy has put pressure on profits.

It expected lower fourth-quarter sales and profit in China due to overall lackluster demand for apparel.

The company has recently looked to North America and Europe for growth due to a slowing economy in China, its largest overseas consumer market with more than 900 Uniqlo stores on the mainland.

Shares in Fast Retailing were the fourth-biggest loser among large-cap stocks in the Asia-Pacific in the first half of 2025, declining about 8%, according to LSEG data.

Shares in the company closed down 0.9% prior to the earnings report. — Reuters

SMDC eyes 2029 finish for Pampanga residential project Symphony Homes

SM DEVELOPMENT CORP. (SMDC), the residential arm of SM Prime Holdings, has entered the horizontal housing segment with the launch of Symphony Homes in Mabalacat, Pampanga.

The residential project includes low-density housing, open spaces, and green areas.

These features reflect preferences among Filipino homebuyers following lifestyle changes during the pandemic, the company said in a statement.

The development is presented as suitable for families seeking more space while remaining near urban centers.

“We have developed communities that brought everyday living closer to work, play, and progress,” said Grace Evangeline M. Sta. Ana, executive vice-president of SMDC, during the brand’s launch event in Pampanga.

“Now we want to build homes that bring people back to the ground — to community, to nature, to a life that feels deeply lived.”

According to SMDC Vice-President and Head of Design, Innovation, and Strategy Jessica Bianca “Jica” Sy, the move into horizontal development is based on insights from its vertical housing projects.

“This is growth in a different direction,” Ms. Sy said. “We have learned from years of vertical development that space, when designed right, shapes behavior. So we asked ourselves — what happens when we give people more room, more green, more moments to breathe?”

Symphony Homes covers a 28-hectare site in Barangay Atlu-Bola and includes housing units priced between P2.85 million and P6.5 million. Each unit design prioritizes layout efficiency, cross-ventilation, and adaptability to family needs.

The master plan includes amenities such as swimming pools, a clubhouse, open spaces, a gym, sports courts, co-working spaces, and a zone for pets. The layout features wide roads and sidewalks to support walking and resident interaction.

“We designed Symphony Homes to support the rhythm of everyday life,” said Jess Valentine T. Nunez, the project’s head. “Whether it is enjoying a walk under the trees or spending time with neighbors at the park, we wanted to create a space where people can live fully.”

To reflect local heritage, SMDC is planting native tree species with historical links to Pampanga, including narra, balacat, and dau.

“These trees are more than greenery — they are storytellers,” said Ms. Sta. Ana. “They remind us of the past while helping us grow into the future.”

SMDC said Symphony Homes Mabalacat will be built in phases. The first phase is under construction, with pre-selling reservations ongoing. Each phase will introduce more units and amenities, with completion targeted by 2029.

The site is near Clark Freeport Zone, North Luzon Expressway (NLEX), Subic-Clark-Tarlac Expressway (SCTEX), Clark International Airport, and the planned North-South Commuter Railway.

“It is a true transport hub,” said SM Prime Vice-President Gabriel T. Laurel. “People will benefit from its proximity to the country’s main travel routes.”

SMDC said the project signals its entry into the house-and-lot segment, with additional developments planned across the country. — Mhicole A. Moral

Cebu developer sees ‘bleisure’ driving hospitality projects in VisMin

THE FREEMAN FILE PHOTO

CEBU-BASED PROPERTY developer AppleOne Group said demand for hospitality developments in the Visayas-Mindanao (VisMin) region is gaining momentum, driven by the area’s growing appeal as a “bleisure” (business and leisure) destination.

“By building integrated destinations where business, leisure, and local culture intersect, AppleOne continues to expand opportunities for the local workforce and economy, positioning VisMin as a next-generation bleisure hub in both the national and regional tourism landscape,” it said in a statement.

Bleisure — a fast-growing segment that blends work and relaxation — has been attracting visitors to tourist destinations such as Cebu and Cagayan de Oro, according to the company.

The VisMin market is positioned to cater to this segment, particularly travelers seeking purpose-driven experiences, hybrid work setups, digital nomadism, and lifestyle-oriented travel, it also said.

AppleOne cited Cebu’s physical environment, urban development, and tourism infrastructure. It also noted that Cagayan de Oro is becoming a meetings, incentives, conferences, and exhibitions (MICE) destination in Northern Mindanao.

“Combined with their world-class resorts, heritage attractions, culinary diversity, and thriving creative scene, the region allows travelers to shift effortlessly between boardrooms and beaches, making it a natural choice for today’s market,” AppleOne said.

“For the industry, this means new revenue streams, longer visitor stays, and rising demand for bleisure-ready destinations.”

Cebu alone welcomed over 5.1 million tourists in 2024, a 37% increase from last year’s arrivals, according to data from the Department of Tourism.

This reflects the potential of the VisMin region as a leisure and MICE destination, AppleOne said.

The property developer cited its upcoming Mahi Center, a mixed-use business complex within the Mactan Economic Zone in Lapu-Lapu City.

The development will include office spaces, a boutique mall, and Fairfield by Marriott Cebu Mactan.

AppleOne also noted that Sheraton Cebu Mactan Resort continues to draw executives and corporate travelers due to its beachfront location, proximity to the airport, and luxury amenities.

“Beyond its beachfront allure, the resort is fast becoming a landmark bleisure venue: hosting executive retreats, networking events, and incentive travel, while elevating Cebu’s profile as a premier destination for both business and leisure,” the company said.

Lastly, the upcoming Radisson Blu Hotel & Residences Cagayan de Oro is expected to become the city’s first five-star hotel and branded residence. It is designed to meet the growing demand for large-scale events and corporate gatherings in Northern Mindanao, where MICE venues remain limited.

“These developments underscore AppleOne’s role in reshaping the region’s tourism landscape not just as a leisure destination but as a sophisticated gateway for global bleisure travel,” AppleOne said. — Beatriz Marie D. Cruz

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