A CUSTOMER holds his US dollar notes at a money changer in Manila. — REUTERS
(UPDATE) The Philippines started marketing its first dollar notes in a year, braving rocky markets after President Donald Trump’s revival of the trade war between the US and Europe pushed Treasury yields higher and hurt risk assets.
The debt offering is a test of investor confidence for President Ferdinand Marcos Jr.’s administration too as it contends with fallout from a corruption scandal that has caused economic growth to slump.
The Philippines is offering notes of 5.5 years, 10 years and 25 years, according to a person familiar with the matter, who asked not to be identified because the matter is private. Initial price guidance for the 10-year tranche was around 100 basis points over Treasuries.
The Philippines is one of the region’s most active sovereign bond issuers in overseas markets and relies on such funds to help finance a persistent budget deficit. The government is currently grappling with a graft scandal involving billions of dollars meant for flood-control projects in one of the world’s most typhoon-prone countries.
National Treasurer Sharon Almanza said the issuer is looking at a benchmark size for each tenor, when asked about the target amount.
The bond sale will help raise dollars for the Philippines at a time when the peso is weakening. The currency fell to a record low on Tuesday.
While valuations for the sovereign’s notes are “unexciting” they should remain reasonably well supported, Nicholas Yap, head of Asia credit desk analysts at Nomura Holdings Inc. in Singapore wrote in a note. Fair value for the 25-year tranche is about 5.65% compared with provided initial guidance of around 5.9%, he added.
The sovereign isn’t the only borrower from Asia seeking to sell dollar debt on the day, with at least two other issuers including South Korea’s Woori Bank also in the market. Yield premiums on the region’s investment-grade bonds have hovered near a record low this month at under 60 basis points on average, helping attract issuers.
The average yield on dollar bonds sold by investment-grade emerging Asian borrowers was about 4.5% on Monday, down from nearly 5.2% when the sovereign last sold dollar debt in the market in January of 2025, a Bloomberg index shows. The Philippine government sold a 10-year bond then at 90 basis points over Treasuries after kicking off marketing at around 120 basis points. — Bloomberg
Just a few years ago, most Filipino consumers had never seen, touched, or experienced a VinFast vehicle in their daily lives. The brand existed largely as a name attached to international auto show headlines, global expansion announcements, and long-term aspirations. Then, everything changed.
As the market enters 2026, VinFast has become a familiar presence across Metro Manila. A Green GSM electric taxi during the morning commute. A compact VF 3 weaving through dense residential streets. A V-Green charging station appearing beside a neighborhood mall. VinFast has moved beyond visibility to become part of the city’s everyday rhythm, embedding itself in the public consciousness as a distinctly Southeast Asian face of electric mobility, and increasingly, as a guide into the EV era.
Many Filipinos now say: “My first step into electrification was with a VinFast, coming from our neighbor, Vietnam.”
According to Simon Austria from VinFast BGC dealer, this marks the most pivotal moment in VinFast’s journey in the Philippines.
“When people stop seeing VinFast as something new and start treating it as a familiar, everyday choice, that’s when a brand truly enters the market,” he said.
A True Disruptor
For years, electric vehicles in the Philippines hovered on the periphery, present at exhibitions, and policy discussions, yet rarely seen on public roads. Gasoline vehicles, supported by long-established infrastructure and habits, continued to dominate daily mobility.
VinFast chose a different path. Rather than waiting for the market to become ready, the company set out to create readiness, actively leading consumers into the electric era.
Launched locally in May 2024, VinFast rapidly put a full lineup of EVs into circulation, from the VF 3 and VF 5 to the VF 6, VF 7, and VF 9. “At first, customers came to the showroom out of curiosity,” Simon recalled. “Later, they came back because they were already seeing VinFast cars on the road every day.”
This is how a true disruptor operates, by reshaping habits through lived experience.
As the number of VinFast vehicles grew, so did the sophistication of customer conversations. People no longer asked what an EV was. They asked where charging was most convenient, how much they would save each month, and how the car fit into their daily routines.
“The VF 3 is the most frequently asked-about model at our showroom,” Simon noted. “It’s perfectly suited to Philippine traffic, compact, agile, easy to drive, and ideal for couples or young urban drivers.”
“The VF 3 isn’t just about unique design. Its driving range, operating cost, and the EV experience itself are what truly surprise customers.”
The VF 6, meanwhile, represents a step into a more premium space. “The VF 6 clearly feels more upscale. It’s a great fit for young families of four, modern, well-sized, and very practical for everyday use.”
VF 7
When Users Become Storytellers
It is not only dealers who are shaping VinFast’s image in the Philippines. Everyday users are becoming some of the brand’s most influential voices. Among them is Carl Macaisa, a well-known car modifier and content creator in the local automotive community. For Carl, the VinFast VF 3 is more than transportation.
“The VF 3 is like a blank canvas. You can express your personality through the car,” he said.
Its boxy, minimalist yet characterful design offers a rare platform for personalization, something deeply embedded in Philippine car culture. This openness has helped the VF 3 build a young, enthusiastic following that treats the vehicle as both mobility tool and personal statement.
Carl’s experience with the VF 3 ultimately led him to upgrade to the VF 6, a higher-positioned electric B-SUV that maintains VinFast’s accessible philosophy.
According to Carl, the VF 6’s strength lies in balance, enough performance for driving enthusiasts, enough space and comfort for family use, and, most importantly, no need to change daily habits when switching to an EV.
A Comprehensive Ecosystem Few Can Match
If electric vehicles are the product, then the ecosystem is the strategy, and this is where VinFast clearly differentiates itself.
Alongside vehicle sales, Vingroup, VinFast’s parent company has deployed charging infrastructure through V-Green, introduced electric ride-hailing via Green GSM, and backed everything with long-term aftersales policies. Together, these elements form a closed loop: Vehicles, infrastructure, and services working in unison.
“Very few automakers do this, especially in Southeast Asia,” Simon emphasized. “VinFast doesn’t just sell cars, it solves the entire EV usage equation.”
Green GSM has played a particularly critical role in the early stages. For many Filipinos, it is their first encounter with electric mobility.
“Honestly, I didn’t know much about VinFast before,” Simon admitted. “It was the Green GSM experience that impressed me, the smooth ride, professional drivers, and a completely different feel.”
Within a year, that first experience turned Simon himself into part of the “VinFast family.”
Fast — Different — Proven by Action
Three words Simon uses to describe VinFast also define its strategy in the Philippines.
Fast, in the speed at which the brand moved from awareness to real-world presence.
Different, in delivering a full ecosystem rather than selling standalone vehicles.
And proven by action, because commitments on infrastructure, services, and policies have been executed in parallel.
Programs such as long-term warranties, free charging incentives, and the Resale Value Guarantee (RVG) have been critical in building trust. “It’s a win-win model,” Simon said. “Customers have more options and feel protected, while VinFast builds long-term confidence.”
In a market where EVs are still relatively new and concerns about resale value remain strong, VinFast chose to confront that anxiety directly. “This is a very rare policy in the market,” Simon Austria noted. “VinFast customers know they always have a safety net.”
Through RVG, owners have the option to sell their vehicle back to VinFast at a guaranteed price within defined timeframes. This reduces financial risk and fundamentally changes how consumers perceive EV ownership.
More importantly, it sends a clear message: VinFast is willing to share responsibility with users, rather than shifting all risk onto the customer, a common practice in the traditional automotive industry.
Combined with long warranties and a rapidly expanding charging network, VinFast is selling long-term peace of mind, an increasingly decisive advantage for pragmatic Filipino consumers.
Asian Pride and a Highly Anticipated 2026
For Simon, VinFast represents Asian aspiration. “As a Filipino, I’m genuinely proud to see an Asian brand like VinFast competing head-on with American and European automakers,” he said.
After just two years in the Philippines, VinFast has established a solid foundation. Customer interest continues to grow, brand recognition is strengthening, and the ecosystem keeps expanding.
“I’m confident that 2026 will be a breakout year,” Simon stated. “VinFast will expand its market share very quickly and play a leading role in driving the green mobility revolution in the Philippines, and even across Southeast Asia.”
“And yes,” he added, “I truly believe VinFast can rise to number one.”
As the global automotive industry enters a period of profound transformation, VinFast is not standing on the sidelines. It is moving decisively into the market, changing consumer habits through tangible action, and steadily asserting itself as a true disruptor.
In the Philippines, that story is only just beginning.
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The Estate Makati lights up for a night to mark its structural completion.
The Makati skyline, an ever-evolving canvas of ambition and power, recently gained a distinguished new landmark. For one memorable evening, The Estate Makati illuminated the city, celebrating the completion of its full structural height in the heart of the central business district. Rising prominently from the storied Apartment Ridge, this 60-storey residential tower offers a compelling proposition. Its strategic location places residents within effortless reach of both the vibrant business district and a wealth of leisure pursuits, achieving a rare balance of convenience and discretion. It promises security, efficient mobility, and ultimately, the quiet exclusivity of a private residential address.
At its core, The Estate Makati redefines luxury with its commitment to a remarkably low-density design. With an intimate offering of just 188 residences and a maximum of four homes per floor, this development champions privacy and delivers a personalized living experience. This approach creates a distinct and valuable niche, setting it apart from the urban norm and prioritizing space in a bustling metropolis.
The Estate Makati board members and executives celebrate this momentous topping off milestone.
Architectural Vision Meets Engineering Precision
The architectural vision for The Estate Makati comes from Foster + Partners, the internationally acclaimed firm known for groundbreaking design. The firm’s expertise is realized in a distinctive cruciform floor plan and highlights an ingenious configuration that ensures each residence enjoys expansive views, natural airflow, and a significant degree of privacy. Column-free interiors, a hallmark of modern luxury, liberate homeowners to craft bespoke living environments, allowing personal preferences to dictate space rather than architectural limitations.
Beneath this sophisticated aesthetic lies a robust engineering foundation. The Estate Makati integrates a double-slab construction system, a rare feature in residential towers that reflects a commitment to enduring quality and future adaptability. This innovation offers residents significant flexibility for customization of layouts, integration of specialized installations, and the evolution of interiors over time, all while guaranteeing unwavering structural integrity.
Bi-level units provide homeowners with ample space for entertainment and relaxation.
The building’s exterior is a thoughtful study in contextual design, responding intelligently to Manila’s tropical climate. Precisely angled windows modulate sunlight throughout the day, optimizing natural illumination while mitigating heat. They also frame sweeping vistas of the vibrant urban landscape and lush green spaces. The result is a clean, contemporary silhouette that adds a distinctive presence to the Makati skyline.
Safety is paramount. Engineers conducted exhaustive tests and simulations, ensuring the building meets the Philippine Structural Code and exceeds international seismic standards. The tower’s resilience has been meticulously validated against global earthquake records, providing residents with confidence in its structural integrity.
An Ecosystem of Refined Living
A conceptual rendering of The Estate Makati pool
The Estate Makati’s design philosophy extends beyond the residences, embracing both its urban context and local cultural nuances. The arrival experience is an elegant journey: a driveway sculpted to evoke Palawan’s limestone formations guides residents to an Arrival Lounge where natural finishes and verdant accents create an immediate sense of calm elegance.
At the tower’s heart, the Atrium Lounge basks in natural light filtering through a skylight, creating an atmosphere of openness and tranquility. Meanwhile, elevated on the 25th floor, the Sky Garden presents a rare urban sanctuary — a verdant oasis suspended above the city. Dedicated private lift lobbies enhance this sense of privacy, ensuring a seamless transition from the vibrant exterior to the quietude of home.
The Estate Makati Sky Garden offers a panoramic view of the city skyline.
Beyond physical spaces, The Estate Makati curates a comprehensive suite of services and amenities designed to cater to the demands of a refined lifestyle. Concierge services handle day-to-day coordination, while an array of wellness facilities, including a state-of-the-art gym, a dedicated yoga studio, and a golf simulator, ensures every aspect of well-being is considered. Intellectual pursuits find their haven in the thoughtfully appointed library, while a versatile multipurpose room stands ready for private meetings or intimate gatherings.
This seamless integration of amenities and personalized services extends beyond convenience; it reflects The Estate Makati’s long-term vision and underscores its strategic approach: to create luxury residences with a comprehensive lifestyle destination that truly enhances its inhabitants’ lives.
The Estate Makati is a joint venture between SM Residences and Federal Land, Inc. This collaboration combines meticulous planning with a focused, uncompromising approach to design and construction, setting a new benchmark for excellence in the Philippine luxury real estate market.
To explore how this architectural vision translates into a legacy of refined living, discerning individuals are invited to visit theestatemakati.com and schedule a private presentation.
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The Department of Education officials and EDCOM 2 Executive Director Karol Mark R. Yee (holding right of poster) at the launch of the Bayang Bumabasa Initiative. — ALMIRA LOUISE S. MARTINEZ
The Second Congressional Commission on Education (EDCOM 2) on Monday called for curriculum decongestion and mastery of foundational skills in early grades, following its report on declining student proficiency.
“EDCOM has long called for the decongestion of the curriculum, especially from Grades 1 to 3, to focus on foundational skills, especially literacy,” said EDCOM 2 Executive Director Karol Mark R. Yee in a news release.
The commission said that the study by the Philippine Institute for Development Studies (PIDS) on the first-year pilot implementation of the MATATAG K-to-10 Curriculum highlighted the importance of curriculum reform as it showed significant improvements among Grade 2 students across all subjects.
“The significant learning gains we are seeing in Grade 2 students validate EDCOM 2’s core advocacy: that by decongesting the curriculum and prioritizing foundational mastery, we give our learners a real fighting chance”, EDCOM 2 Co-Chairperson Rep. Roman T. Romulo added.
The lack of mastery in foundational competencies during the early years of schooling is one of the root causes of the declining proficiency level among Filipino students as they progress in school, according to a separate report by the commission last Friday.
Citing the 2024 Early Language, Literacy, and Numeracy Assessment (ELLNA) data, EDCOM 2 said only 30.52% of Grade 3 learners were considered “proficient” or “highly proficient”.
Moving towards Grade 6, the 2024 National Achievement Test (NAT) shows that the proficiency rate drops to 19.56%, and drastically declines to only 1.36% in Grade 10, and 0.4% in Grade 12.
“Only about 14 in every 1,000 students at Grade 10, and 4 in every 1,000 at Grade 12, can demonstrate skills such as problem solving, managing and communicating information, and analyzing and evaluating data to create or formulate ideas,” the commission said.
Along with curriculum decongestion, the commission noted that adequate support for teachers must be available to help them keep up with the reforms. Other studies by PIDS reported that although teachers have improved flexibility in lesson delivery, it has also increased the time spent on lesson planning and preparation.
“We cannot expect our teachers to carry the weight of reform through sheer grit alone,” Mr. Romulo said.
“For these gains to be sustainable and scalable, we must match curriculum changes with robust instructional support, timely learning materials, and genuine concern for teacher wellbeing,” he added. — Almira Louise S. Martinez
BDO UNIBANK, Inc. is selling its majority stake in its investment holding company Dominion Holdings, Inc. (DHI).
The bank on Monday (Jan. 19) signed a share purchase agreement with Monte Sur Equity Holdings, Inc. to sell 1,513,732,718 or 70% of its shares in the investment holding company at P1.68 per share or about P2.54 billion, it said in a disclosure to the stock exchange on Tuesday.
Following the sale, DHI will no longer be a subsidiary of BDO.
“The disposition of DHI is aligned with BDO Group’s continuing policy of streamlining its organizational structure following the conversion of DHI into an investment holding company,” the bank said.
The transaction is still subject to closing conditions and regulatory approvals. — A.M.C. Sy
The logo of J.P. Morgan is seen in Zurich, Switzerland July 8, 2021. — REUTERS/ARND WIEGMANN
LONDON – JP Morgan’s strategists cut the bank’s view on emerging market currencies to ‘market weight’ from ‘overweight’ on Monday, saying short-term positioning was now “overbought” following a strong year-long rally.
The US investment bank, whose views are closely watched by traders, also cut South Africa’s rand to ‘market weight’ from ‘overweight’ having already cut risk in central and eastern Europe and adjusted its view on the Mexican peso over the last week.
“There are times to reduce risk in the short term due to overcrowding and this is one of those times in our view,” JP Morgan’s strategists said in a note to clients.
International investors rediscovered their appetite for emerging market assets last year despite the volatility of US trade tariffs, as the lure of attractive interest rates and cheaper asset prices has been given extra impetus by a near 10% drop in the dollar.
The move back in has lifted MSCI’s emerging market currency index roughly 7.5% over the last 12 months, EM local currency debt has returned almost 20%, while MSCI’s EM stocks index has surged nearly 40%.
JP Morgan’s analysts said a fresh glut of inflows into EM since the start of the year had pushed the bank’s in-house EM FX Risk Appetite Index into significantly overbought territory and well above the threshold that triggers a “sell signal”.
“We have flagged the build-up of positioning in EM currencies and this is now enough for us to take profits in the short term,” they added.
They acknowledged that emerging markets had also had to grapple with “a lot of other noise” since the start of the year, starting with Venezuela, Iran, US Federal Reserve independence, US Supreme Court rulings and now Greenland with new threats of tariffs.
While these developments were not the key driver of the change in their EM foreign exchange view, JP Morgan analysts flagged that the key areas of worry could start to feed off each other.
“We often find that once the market is already over-positioned it can become nervous about newsflow that it might otherwise downplay,” they said.
“Given the low starting levels of vols and risk premia globally, this nervousness could show in a short-term pull-back.” — Reuters
Perspective of Hotel101-Melbourne, Melbourne CBD, Australia. — DOUBLEDRAGON CORP.
HOTEL101 Global Holdings Corp., the Nasdaq-listed hospitality arm of DoubleDragon Corp., said it will develop a 766-room condotel project in Melbourne, Australia, which is expected to be completed by 2029.
In a statement on Tuesday, the company said the project is projected to generate about A$323.6 million (P12.6 billion) in total sales revenue once fully sold.
Upon completion, it is expected to be the largest hotel in Melbourne, Victoria, in terms of room count.
The condotel, to be known as Hotel101-Melbourne, will be located in the city’s central business district along Flinders Lane, near Federation Square, Flinders Street Station, the Yarra River, and the Southbank entertainment precinct.
The company said the project will offer four-star amenities positioned at affordable price points.
Hotel101 Global said it has signed definitive agreements for the development, which remains subject to the usual approvals from national, regional, and municipal regulators.–Alexandria Grace C. Magno
A MAN pulls a girl to get inside Hamid Karzai International Airport in Kabul, Afghanistan, Aug. 16. — REUTERS
KABUL — In the dull glow of a single bulb lighting their tent on the outskirts of Kabul, Samiullah and his wife Bibi Rehana sit down to dry bread and tea, their only meal of the day, accompanied by their five children and three-month-old grandchild.
“We have reached a point where we are content with death,” said 55-year-old Mr. Samiullah, whose family, including two older sons aged 18 and 20 and their wives, is among the millions deported by neighboring Iran and Pakistan in the past year.
“Day by day, things are getting worse,” he added, after their return to a war-torn nation where the United Nations’ World Food Program estimates 17 million battle acute hunger after massive cuts in international aid.
“Whatever happens to us has happened, but at least our children’s lives should be better.”
He was one of the returned Afghans speaking before protests in Iran sparked a massive crackdown by the clerical establishment, killing more than 2,000 in ensuing violence.
Mr. Samiullah said his family went virtually overnight from its modest home in Iran to their makeshift tent, partially propped up by rocks and rubble, after a raid by Iranian authorities led to their arrests and then deportation.
They salvaged a few belongings but were not able to carry out all their savings, which would have carried them through the winter, Mr. Samiullah added.
Reuters was unable to reach authorities in Iran for comment.
“Migrants who are newly returning to the country receive assistance as much as possible,” said Afghan administration spokesman Zabiullah Mujahid, in areas from transport to housing, healthcare, and food.
It was impossible to eradicate poverty quickly in a country that suffered 40 years of conflict and the loss of all its revenue and resources, he added in a statement, despite an extensive rebuilding effort.
“Economic program take time and do not have an immediate impact on people’s lives.”
The WFP says Iran and Pakistan have expelled more than 2.5 million Afghans in massive repatriation programs.
Tehran ramped up deportations last year amid a flurry of accusations that they were spying for Israel. Authorities blamed the expulsions on concerns about security and resources.
Islamabad accelerated deportations amid accusations that the Taliban was harboring militants responsible for cross-border attacks on Pakistani soil, allegations Afghanistan has denied.
NO INCOME, NO AID As winter spreads across Afghanistan’s arid landscape, work opportunities have dried up, while the wave of returning Afghans has swelled the population by a tenth, said John Aylieff, the WFP’s country director.
“Many of these Afghans were working in Iran and Pakistan and they were sending back remittances,” he told Reuters, adding that 3 million more people now face acute hunger. “Those remittances were a lifeline for Afghanistan.”
Cuts to global program since US President Donald Trump returned to the White House have sapped the resources of organizations such as the WFP, while other donor countries have also scaled back, putting millions at risk worldwide.
“Last year was the biggest malnutrition surge ever recorded in Afghanistan and sadly the prediction is that it’s going to get worse,” added Mr. Aylieff, estimating that 200,000 more children would suffer acute malnourishment in 2026.
At the WFP’s aid distribution site in Bamiyan, about 180 kilometers (111 miles) from Kabul, the capital, are stacks of rice bags and jugs of palm oil, while wheelbarrows trundle in more food, but it is still too little for the long queues of people.
“I am forced to manage the winter with these supplies; sometimes we eat, sometimes we don’t,” said Zahra Ahmadi, 50, a widowed mother of eight daughters, as she received aid for the first time.
‘LIFE NEVER REMAINS THE SAME’ At the Qasaba Clinic in the capital, mothers soothed their children during the wait for medicine and supplements.
“Compared to the time when there were no migrants, the number of our patients has now doubled,” said Dr. Rabia Rahimi Yadgari.
The clinic treats about 30 cases of malnutrition each day but the supplements are not sufficient to sustain the families, who previously relied on WFP aid and hospital support, she said.
Laila, 30, said her son, Abdul Rahman, showed signs of recovery after taking the supplements.
“But after some time, he loses the weight again,” she said.
After the Taliban takeover, she said, “My husband lost his (government) job, and gradually our economic situation collapsed. Life never remains the same.”
The United States led a hasty withdrawal of international forces from Afghanistan in July 2021, after 20 years of war against the Taliban, opening the doors for the Islamists to take control of Kabul.
As dusk gathers and the temperature falls, Samiullah brings in firewood and Bibi Rehama lights a stove for warmth.
“At night, when it gets very cold, my children say, ‘Father, I’m cold, I’m freezing.’ I hold them in my arms and say, ‘It’s OK.’ What choice do we have?” Mr. Samiullah said.
“(When) I worked in Iran, at least I could provide a full meal. Here, there is neither work nor livelihood.”— Reuters
STOCK PHOTO | Photo by Thilipen Rave Kumar: https://www.pexels.com/photo/assorted-flags-1625603/
DAVOS — Malaysia’s sovereign wealth fund Khazanah Nasional Bhd plans to channel more capital into strengthening the power system and supporting local semiconductor firms as AI drives the next investment cycle, its chief told Reuters on Monday.
Surging AI computing needs were reshaping what is “investable” in the AI boom, with energy supply and grid resilience being central to competitiveness, Khazanah Managing Director Amirul Feisal Wan Zahir said in an interview at the World Economic Forum’s annual meeting in Davos.
“What it does need is computing power and what computing power means energy. So that’s when we think about capturing some of that growth,” Mr. Amirul Feisal told the Reuters Global Markets Forum.
While global investors have been pouring money into data centers, he said Khazanah would instead focus on infrastructure.
“We’re really looking at the energy part, so again looking at grid resilience,” he said, adding that cheap and reliable power, including renewables, would be critical as AI infrastructure scales up.
SEMICONDUCTORS, NOT DATA CENTRES The firm was also “seeing how we can help fund some of the capital requirements of our semiconductor players to move up the value chain to advanced packaging,” Mr. Amirul Feisal said.
Malaysia has been rolling out industrial policies aimed at strengthening its role in the global chip supply chain.
Prime Minister Anwar Ibrahim had said in May 2024 the government aims to attract at least 500 billion ringgit ($123.40 billion) in semiconductor investment, supported by at least $5.3 billion in fiscal incentives, and that it plans to build up local capabilities in chip design and advanced packaging.
Khazanah invests in Malaysia and internationally across markets, asset classes, sectors and geographies and counts the country’s second-largest lender CIMB Group and national carrier Malaysia Aviation Group among its portfolio.
Its net asset value rose 22% to 103.6 billion ringgit ($25.57 billion) in 2024 from 84.8 billion ringgit a year earlier.
Mr. Amirul Feisal said Khazanah expected its international portfolio share to rise gradually over time.
Asked about the ringgit, he said there was “room” for the currency to strengthen depending on the US dollar, citing uncertainty over the path of US interest rates, but didn’t specify a level.— Reuters
LONDON — Britain is considering a range of measures to better protect children online, including an Australian-style ban on social media for those below a certain age and tougher guidance for use of mobile phones in schools, it said on Monday.
The government said it would examine evidence from around the world on a wide range of suggested proposals, including looking at whether a social media ban for children would be effective and, if one was introduced, how best to make it work.
Ministers will visit Australia, which last month became the first country to ban social media for children under 16, to learn from their approach, the statement said.
The government did not mention a particular age limit, but said it was exploring a ban “for children under a certain age”, in addition to other measures, such as better age checks and looking into whether the current digital age of consent was too low.
The proposals come as governments and regulators worldwide contend with the risks of exposing children to social media, as well as the impact of screen time on their development and mental health.
The recent rapid explosion of AI-generated content online has exacerbated those concerns, highlighted this month by a public outcry over reports of Elon Musk’s Grok AI chatbot generating non-consensual sexual images, including of minors.
The British government has already set out plans for an outright ban on artificial intelligence nudification tools, while working to stop children being able to take, share or view nude images on their devices, it said in Monday’s statement.
The government said it was also considering removing or limiting functionalities that could drive addictive or compulsive use of social media, such as infinite scrolling.
Britain’s recently enforced Online Safety Act, one of the strictest safety regimes, has increased the share of children encountering age checks online to 47% from 30%, while cutting visits to pornography sites by a third, according to the government.
“These laws were never meant to be the end point, and we know parents still have serious concerns,” Technology Secretary Liz Kendall said. “That is why I am prepared to take further action.”— Reuters
PENCO — Wildfires in Chile have killed at least 19 people, authorities said on Monday, as the government carried out mass evacuations and fought over 30 blazes exacerbated by intense heat and high winds.
While weather conditions overnight helped control some fires, the largest were still active, with adverse conditions expected throughout the day, Security Minister Luis Cordero said at a news briefing on Monday.
“The projection we have today is of high temperatures,” Mr. Cordero said, and the main worry was that new fires would be triggered throughout the region.
Parts of central and southern Chile were under extreme heat warnings with temperatures expected to reach up to 37 Celsius (99 Fahrenheit).
HUNDREDS OF HOMES DESTROYED Most of those killed were in Penco, a small coastal city just north of the regional capital of Concepcion. On Monday morning, thousands of residents in the area sifted through the rubble of their homes as firefighters continued to extinguish nearby fires.
Ana Caamano, 51, was one of those residents, rummaging through the ashes of the home in Lirquen that she was raised in and later inherited from her parents. Among the wreckage was the corpse of one of her four dogs, some charred rings and a metal ladle.
“They’re not that important,” Ms. Caamano said, looking at the rings in her hand. “But they’re memories.”
Ms. Caamano and her husband Luis, who was cleaning up the wreckage of their garage to make a temporary shelter, were visiting family on Saturday when the fires broke out.
Their son, Franco, was home and said he was trying to hose down the house when he noticed the blaze getting closer, but a sudden strong wind brought in a black cloud of smoke that forced him to flee, leaving everything behind.
“It came like lightning, it was so quick,” Franco said, echoing what many residents remembered, a fast-moving fire that gave them almost no time to flee.
Authorities say 325 homes have been destroyed and 1,100 more are being evaluated.
STATE OF EMERGENCY DECLARED IN NUBLE, BIO BIO As of late Monday afternoon, Chile’s CONAF forestry agency said firefighters were combating 34 fires across the country, the largest of which were in regions of Nuble and Bio Bio, where President Gabriel Boric declared a state of catastrophe.
Over 35,000 hectares (135 square miles) have been razed so far, an area about the size of Philadelphia, with the largest fire surpassing 14,000 hectares on the outskirts of the coastal city of Concepcion.
Miguel Castillo, a professor and researcher at the University of Chile’s Forest Fire Laboratory, said a number of factors made the recent fires so deadly, including the amount of dry material and persistent high temperatures.
“There have been several consecutive days over 30 degrees (Celsius) and for the Concepcion area that’s rare,” Mr. Castillo said. “One or two days are common, but not four or five.”
Mr. Castillo added that fires are more difficult to put out once they reach a certain size and have been complicating by strong, shifting winds.
“With those extreme conditions, it practically becomes an uncontrollable monster,” he said, adding that most fires last two or three days, but the risk is multiple active fires combining before authorities can control them.
Both Chile and Argentina rang in the new year with heat waves which have continued into January. Earlier this month, wildfires broke out in Argentina’s Patagonia, burning around 15,000 hectares.— Reuters
PRIME ENERGY, operator of Service Contract No. 38, said it has successfully drilled the Malampaya East-1 reservoir. — COURTESY OF PRIME ENERGY
By Chloe Mari A. Hufana andSheldeen Joy Talavera, Reporters
THE PHILIPPINES has made its first major natural gas discovery in more than a decade, a development that could strengthen domestic energy supply and support rising power demand, President FerdinandR. Marcos, Jr. said on Monday.
The reservoir, called Malampaya East-1, lies about 5 kilometers east of the existing Malampaya gas field off Palawan province.
“This additional resource can help support the government’s efforts for the stabilization of our power supply,” Mr. Marcos said in a video posted on his Facebook page.
In a statement on Monday, Razon-led Prime Energy Resources Development B.V., the operator of the Malampaya deep water gas-to-power project, said that the newly discovered reservoir is estimated to hold an estimated 98 cubic feet of gas in place.
The discovery is equivalent to roughly 14 billion kilowatt-hours of electricity a year, enough to supply about 5.7 million households, 9,500 buildings or about 200,000 schools annually.
Initial tests showed the well flowing at about 60 million cubic feet of gas per day, a level Mr. Marcos said is comparable to the original Malampaya wells and indicates strong productivity.
The find also includes condensate, a high-value liquid fuel that could further support efforts to stabilize the electricity supply, Mr. Marcos said.
The Philippines relies on imported gas and coal to fuel its power plants and industrial base, leaving the economy exposed to volatile global prices and supply disruptions.
The discovery of new reserves at Malampaya East‑1 offers a rare reprieve, potentially reshaping the country’s energy outlook. It is expected to extend Malampaya’s role in the nation’s energy mix and reinforce domestic gas supply in the coming years. It is also expected to help the Philippines reduce its dependence on coal.
Mr. Marcos said the drilling was led by Filipino engineers and completed without accidents or environmental incidents, underscoring what he described as responsible resource development.
Malampaya East-1 is the first completed well under the Malampaya Phase 4 Drilling Campaign, which also includes the Camago-2 and Bagong Pag-asa wells.
The next steps involve the completion and testing of Camago-3, followed by the drilling of the Pag-asa exploration well to pursue additional gas resources.
In 2023, the Malampaya consortium — composed of Prime Energy, UC38 LLC, Prime Oil & Gas, Inc., and state-owned PNOC Exploration Corp. — secured a 15-year renewal of Service Contract No. 38 from the government, paving the way for the exploration and development of additional gas reserves until 2039. Drilling wells at the Malampaya gas field began last year.
“When we assumed operatorship, we committed to the President and the nation to breathe new life into Malampaya and revitalize the indigenous natural gas sector. Today, we are delivering on that commitment,” Prime Energy said.
Malampaya Phase 4 has been certified as an “energy project of national significance” by the Department of Energy (DoE), making it eligible for expedited permit processing perks.
“Natural gas is a critical bridge in our energy mix, supporting power reliability while we scale renewables, energy storage, and grid upgrades,” Energy Secretary Sharon S. Garin said.
“We will pursue this opportunity with discipline: maximizing value for Filipinos, upholding environmental stewardship, and ensuring that every milestone strengthens our national interest,” she added.
The DoE said it will continue to work closely with the consortium and relevant agencies in moving forward to the next steps — from technical evaluation, development planning, and all required regulatory and environmental safeguards.
GOOD NEWS The gas discovery is “definitely good news for the Philippines,” according to Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort.
He said the additional reserves will help boost local supply and reduce reliance on fuel and coal imports, which in turn could lower electricity prices and ease inflationary pressures.
“[This will] help fundamentally increase local supplies and reduce prices… [as well as] help reduce overall local electricity prices and slower inflation,” Mr. Ricafort said via Facebook Messenger, adding that natural gas is a relatively cleaner energy source compared with coal.
Edgar Benedict C. Cutiongco, president of the Philippine Petroleum Association, said that the confirmation of the natural gas discovery at Malampaya East‑1, reaffirms the country’s geological potential and the continuing strategic value of upstream oil and gas development.
“Indigenous gas reduces import dependence, stabilizes baseload power, and shields consumers from global price volatility. The discovery strengthens long‑term supply planning and supports a balanced energy transition,” Mr. Cutiongco told BusinessWorld.
He said that the significant findings signal “regulatory continuity, geological prospectivity, and infrastructure longevity,” which are key factors to attract capital into the Philippines.
“The Malampaya East discovery is a strategic milestone that advances national energy security, revitalizes upstream activity, and reinforces the Philippines as an investable energy market,” he said.
University of Asia and the Pacific Associate Professor George N. Manzano said having a domestic source of gas for power plants would make the Philippines less vulnerable to swings in imported fuel and movements in exchange rates.
“It can also serve as a buffer when global energy supplies are disrupted — for example, during geopolitical conflicts or other shocks,” he said via Viber.
Mr. Manzano noted, however, that the transition from discovery to commercial operations will take time, and the extent of consumer relief will depend on whether cost savings are passed on to consumers through lower electricity prices.
Juan Paolo E. Colet, managing director at China Bank Capital Corp., said the additional supply coming from the new gas reservoir should help make local gas-fired power plants more cost-efficient and competitive, which in turn could translate to cheaper and more reliable electricity.
“The latest discovery may encourage investor interest in other potential areas of natural gas deposits in the Philippines,” he said in a Viber message. “There are major domestic banks who are ready to support the sector.”
Peter Louise D. Garnace, an equity research analyst at Unicapital Securities, Inc., said that the major gas discovery is “a much-needed bridge fuel” as the country transitions to cleaner energy.
“With this ‘proof of life,’ we anticipate this success to ignite a new wave of exploration, boosting interest in the Department of Energy’s newly awarded service contracts as investors look to replicate this win,” he said via Viber.
