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Watsons’ #heARTworks turns heart health into a creative journey

Heart Warriors Philippines, Inc. presented a Certificate of Appreciation to Watsons Philippines for its meaningful initiative in promoting heart health and creating safe spaces for learning and expression.

Heart disease remains the leading cause of death in the Philippines, responsible for nearly 19% of total deaths in 2024, with about 13 Filipinos dying every hour from conditions like ischaemic heart disease and stroke. While common risk factors such as hypertension, high cholesterol, poor diet, and chronic stress are largely preventable, emotional stress also plays a significant role in heart health. Research shows that creative activities like painting or drawing can help reduce cortisol levels, alleviate stress, and improve mood, offering a simple yet effective way to support both mental and cardiovascular well-being.

Recognizing the need to care for both heart and mind, Watsons Philippines brought together health and creativity in a unique initiative that reminded Filipinos to care for their hearts, not just physically, but emotionally as well. Held on Sept. 18 at drybrush Gallery in SM Mall of Asia, the #heARTworks event offered an exclusive oil pastel workshop led by master artist Noli Española. At the same time, free heart health checks, blood pressure and glucose monitoring, were made available at Watsons MOA 7 store, empowering more customers to take proactive steps toward total wellness.

Participants of Watsons #heARTWorks expressed their personal interpretation of heart care through unique and colorful masterpieces.

“We want people to see that wellness goes beyond prescriptions. Through #heARTworks, we are making health checkups more accessible and more meaningful. We’re creating a space where care and creativity meet, a place where people can pause, reflect, and recommit to themselves,’’ said Joweeh B. Liao, Director of Health Business Unit, Finance, Property, and Store Development of Watsons Philippines.

The event was designed to transform heart health into something more personal and expressive. By inviting Watsons Club members and guests to paint what taking care of their heart means to them, Watsons encouraged a deeper sense of self-awareness, making everyday choices that support both physical and emotional health. Some created pieces inspired by recovery and resilience, others created a piece symbolizing their lifelong battle, and some visualized the emotional toll of living with a heart condition. Each artwork became a reflection not just of creativity, but of commitment to heart care.

Watsons Philippines executives presented a Certificate of Appreciation to Noli Española in gratitude for sharing his passion and creativity at the event.

#heARTworks is part of a broader campaign by Watsons Philippines to educate customers on the importance of heart health and inspire them to take charge of their well-being. This initiative is just one of the ways Watsons brings its brand promise to life, helping customers Look Good, Do Good, and Feel Great. From offering free health services to creating spaces where our customers can feel supported, seen, and even a little more creative. Watsons continues to champion holistic, accessible care.

“Today shows us that when we care for our health and nurture our creativity, we not only feel better inside, but we also share that light with the people around us. This is what it truly means to Look Good, Do Good, and Feel Great,” said Sharon Decapia, Senior AVP for Marketing, PR & Sustainability of Watsons Philippines.

Heart Warriors Philippines, Inc. presented a Certificate of Appreciation to Watsons Philippines for its meaningful initiative in promoting heart health and creating safe spaces for learning and expression. From left to right: Zesther Rodriguez, senior category manager for Health Business of Watsons Philippines; Ruby Maja, president of Heart Warriors Philippines, Inc.; Darcy Co, group category manager of Watsons Philippines; Dharell Fontanilla, senior marketing manager of Watsons Philippines

Also present at the #heARTWorks event were members of Heart Warriors Philippines, Inc., a community that supports individuals living with heart conditions and their families. As part of the program, the group handed a certificate of appreciation to Watsons Philippines, recognizing the company’s meaningful initiative in raising awareness on heart health and creating safe spaces for both education and expression. Their presence underscored the importance of collective efforts between communities and institutions in championing better heart care for all.

This advocacy for heart health is also made stronger through the support of Watsons’ trusted partners and suppliers. Leading brands such as Omron, Accu-chek, and Torrent Pharma provide customers with reliable health devices that empower them to monitor and manage their wellness every day. Alongside these innovations, Watsons Generics ensures that Filipinos have access to high-quality, affordable, and FDA-approved medicines, bridging the gap in heart care and making wellness more inclusive. As a special offer, both members and non-members can enjoy a Buy 30, Get 30% Off deal on key heart health essentials: Watsons Generics Omega 3-1400, COQ10, and Garlic Oil 1500mg, making proactive care more affordable and accessible. Together, these partnerships reflect Watsons’ unwavering commitment to bring better health within everyone’s reach.

Customers availed of the free heart consultation, blood pressure, and glucose checks offered by Watsons and its brand partners at Watsons MOA 7.

Start your heart health journey today with Watsons. Whether you need vitamins and supplements, medical devices, personal care products, or other heart care essentials, Watsons offers a wide range of products to support your heart, health, and wellness goals. Download the Watsons App via App Store or Google Play, become a Watsons Club member, and stay updated on more health and wellness activities like #heARTworks. Your heart deserves it.

About Watsons Philippines

Watsons is the flagship health and beauty brand of A.S. Watson Group, the world’s largest international health and beauty retailer. Today, the company operates in over 16,900 stores across 12 retail brands in 30 markets, employing 130,000 people globally.

In 2002, A.S. Watson Group joined hands with SM, the Philippines’ leading shopping mall developer. The partners brought about the first Watsons stores in SM Megamall and The Podium (Ortigas) and have since seen rapid growth. Today, Watsons operates more than 1,165 stores in the Philippines (as of January 2025).

Watsons strives to ensure that its customers get the best value for their money through monthly promotions, special offers, and continuous consumer marketing programs. Each Watsons store houses nothing but the best brands from top manufacturers all over the world, and also carries its own competitively priced, high-quality private labels and brands. With more than 1000 brands ranging from medicines, cosmetics, and fragrances to personal care items and general merchandise, Watsons Your Personal Store delivers only the best health, wellness, and beauty solutions to each and every customer.

 

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Philippine watchdog flags lawmaker, officials in P289.5-M flood project scam

AN AERIAL view of a flooded town in Batangas province after Tropical Storm Kristine hit Luzon in November 2024. — BW FILE PHOTO/PPA POOL/MARIANNE BERMUDEZ

The Independent Commission for Infrastructure (ICI) has tagged 18 people as being “potentially responsible” for irregularities in a P289.5 million flood-control project in Naujan, Oriental Mindoro.

In an initial report submitted to the Office of the Ombudsman Monday, the agency said the project, carried out by the Department of Public Works and Highways (DPWH) Region IV-B through contractor Sunwest, Inc., used steel sheet piles 2.5 to 3 meters long instead of the required 12 meters, which could have led to losses worth more than P63 million.

The commission also cited incomplete documentation and the reuse of photographs in billing submissions.

Party-list Rep. Elizaldy S. Co, former chairman of the House committee on appropriations, was among those identified. Sunwest had been linked to Mr. Co, though he has said he had divested from the company.

Other names included DPWH regional officials, division engineers, bids and awards committee members and Sunwest executives.

ICI Executive Director Brian Keith Hosaka said the panel recommended possible graft, procurement and falsification charges, while noting that the findings were preliminary. — Erika Mae P. Sinaking

China’s new K visa beckons foreign tech talent as US hikes H-1B fee

An employee at a business center watches the Chinese national flag being raised, in Beijing, China Aug. 26, 2025. — REUTERS/MAXIM SHEMETOV

BEIJING — China’s new visa programme aimed at attracting foreign tech talent kicks off this week, a move seen boosting Beijing’s fortunes in its geopolitical rivalry with Washington as a new US visa policy prompts would-be applicants to scramble for alternatives.

While China has no shortage of skilled local engineers, the programme is part of an effort by Beijing to portray itself as a country welcoming foreign investment and talent, as rising trade tensions due to US tariffs cloud the country’s economic outlook.

China has taken a series of measures to boost foreign investment and travel, opening more sectors to overseas investors and offering visa waivers for citizens from most European countries, Japan and South Korea among others.

“The symbolism is powerful: while the US raises barriers, China is lowering them,” said Iowa-based immigration attorney Matt Mauntel-Medici, referring to China’s new visa category, called the K visa, which launches on Wednesday.

“EXQUISITE” TIMING
The K visa, announced in August, targets young foreign science, technology, engineering and mathematics (STEM) graduates and promises to allow entry, residence and employment without a job offer, which could appeal to foreign workers looking for alternatives to US job opportunities.

Earlier this month, the Trump administration said it would ask companies to pay $100,000 per year for H-1B worker visas, widely used by tech companies to hire skilled foreign workers.

“The US has definitely shot itself in the foot on H-1Bs, and the timing is exquisite for China’s K visa,” said Michael Feller, chief strategist at Geopolitical Strategy.

Other countries including South Korea, Germany and New Zealand are also loosening visa rules to attract skilled migrants.

Immigration experts say the main attraction of the K visa is no requirement of a sponsoring employer, which has been regarded as one of the biggest hurdles for those seeking H-1B visas.

The H-1B visa requires employer sponsorship and is subject to a lottery system, with only 85,000 slots available annually. The new $100,000 fee could further deter first-time applicants.

“It’s an appealing alternative for Indian STEM professionals seeking flexible, streamlined visa options,” said Bikash Kali Das, an Indian student at Sichuan University.

India was by far the largest beneficiary of H-1B visas last year, accounting for 71% of approved beneficiaries.

LANGUAGE BARRIERS AND UNANSWERED QUESTIONS
Despite its promise, the K visa faces hurdles. Chinese government guidelines mention vague “age, educational background and work experience” requirements.

There are also no details on financial incentives, employment facilitation, permanent residency, or family sponsorship. Unlike the US, China does not offer citizenship to foreigners except in rare cases.

China’s State Council did not respond to a request for comment asking for more details on the logistics and underlying strategy of the K visa.

Language is another barrier: most Chinese tech firms operate in Mandarin, limiting opportunities for non-Chinese speakers.

Political tensions between Delhi and Beijing could also become a factor that could limit the number of Indian K visa applicants China is willing to accept, experts said.

“China will need to ensure Indian citizens feel welcome and can do meaningful work without Mandarin,” said Feller.

K VISA: AN ALTERNATIVE FOR WHOM?
China’s talent recruitment has traditionally focused on China-born scientists abroad and overseas Chinese.

Recent efforts include home-purchase subsidies and signing bonuses of up to 5 million yuan ($702,200). These have drawn back US-based Chinese STEM talent, especially amid Washington’s growing scrutiny on ties to China.

“The recruitment effort targeting Indian tech talent in China is growing but remains moderate compared to the more intensive, well-established, and well-funded initiatives aimed at repatriating Chinese STEM talent,” said Sichuan University’s Das.

A Chinese STEM graduate who recently got a job offer from a Silicon Valley-based tech company was also sceptical about the K visa’s prospects.

“Asian countries like China don’t rely on immigration and local Chinese governments have many ways to attract domestic talent,” he said, declining to be named for privacy reasons.

The US has over 51 million immigrants — 15% of its population — compared to just 1 million foreigners in China, less than 1% of its population.

While China is unlikely to significantly alter its immigration policy to allow in millions of foreign workers, analysts say the K visa could still boost Beijing’s fortunes in its geopolitical rivalry with Washington.

“If China can attract even a sliver of global tech talent, it will be more competitive in cutting-edge technology,” Feller said. — Reuters

‘China is not uninvestable’: Global funds return to China’s markets

An investor looks at an electronic board showing stock information at a brokerage house. — REUTERS

Global money managers are venturing back into China after years of aversion, piqued by a world-beating stock rally and the country’s advances in high-tech industries.

Goldman Sachs Group Inc. said global hedge funds were last month the most active in onshore equities in recent years — a stark contrast to 2021, when some clients had deemed the market “uninvestable.” Pacific Investment Management Co. said investors have pivoted away from worrying about risks to missing out. Official data show foreign inflows rising across asset classes, a coordinated advance that’s only happened in three of the past 10 years.

Taken together, these are signs of a turnaround for a market that had fallen out of favor with global investors amid prolonged regulatory crackdowns and a spiraling property crisis.
This year’s $2.7 trillion equity rally onshore has proven too compelling to ignore, and global funds’ still-underweight positioning suggests ample room to build exposure.

“Global investors have been growing notably more interested in Chinese assets,” said Joseph Zhang, a portfolio manager for Fidelity International, who has been increasing holdings in the market. “This year is different in the sense that the revaluation of Chinese assets is no longer a policy-fueled frenzy but driven by better fundamentals. Investor confidence will likely grow stronger.”

It’s a far cry from the harrowing years following the 2021 peak, when some money managers said China is just not worth the risk. The narrative has now changed to one of confidence, spurred by its artificial intelligence prowess and economic resilience in the face of US restrictions. Stronger inflows could buttress the yuan and aid President Xi Jinping’s ambition to elevate the currency’s role in global finance.

Timing has also worked in China’s favor. President Donald Trump’s confrontational trade policies, the Federal Reserve’s rate-cut cycle and a ballooning US budget deficit have encouraged investors to seek alternatives to dollar assets, prompting a fresh look at the vast Chinese market.

As risk appetite continues to improve and the dollar weakens, markets with compelling valuation and low global fund positioning — such as China — stand to benefit, said Chang Hwan Sung, a multi-asset portfolio manager with Invesco’s investment solutions team. Sung’s fund has been increasing allocation in Chinese equities, he said.

In the first half of this year, foreigners boosted their holdings of onshore stocks, bonds, loans and deposits — a simultaneous increase for the first time since 2021. Net inflows through June have already surpassed the 2024 annual tally by about 60%, according to the latest data from the People’s Bank of China.

The momentum has likely carried on. “Foreign investors overall purchased onshore stocks and bonds on a net basis” in August, Li Bin, deputy head for the State Administration of Foreign Exchange, said in a briefing earlier this month.

TECH’S ASCENT
Underpinning the shift in perception is the technology sector’s advance, as heavyweights including Alibaba Group Holding Ltd. roll-out their own AI models and chipmakers like Cambricon Technologies Corp. notch breakthroughs.

“Global investors will increase their allocations to Chinese assets in the coming years,” said Yerlan Syzdykov, global head of emerging markets at Amundi UK Ltd. Among the drivers will be a sense of “FOMO” from China’s strong performance and attractively-priced opportunities in areas like clean-tech and AI, he said.

Among US-listed exchange-traded products that focus on emerging markets, those tracking Hong Kong and China stocks and bonds saw the largest inflow in the week ended Sept. 19, according to data compiled by Bloomberg.

Morgan Stanley said inflows from foreign long-only funds reached $1 billion as of end-August, a reversal from the $17 billion in outflows last year. Global funds are still 1.3 percentage points underweight China despite some improvement, according to the note released earlier this month, while Asia ex-Japan managers have turned overweight.

Strategist Laura Wang said over 90% of clients she met during a US marketing trip expressed “explicit willingness” to increase China exposure, the highest level of interest since the early 2021 peak.

And while China has discontinued the release of northbound data — a key route for global funds to buy Chinese stocks through Hong Kong — Goldman Sachs strategist Kinger Lau said available data show “foreign investors’ participation in China equity, A-shares in particular, has risen to cycle highs.” He said gross flows by global hedge funds in August was the largest in recent years.

The CSI 300 Index, a benchmark for onshore shares, has climbed 16% this quarter to reach more than a three-year high. The tech-focused ChiNext Index has rallied nearly 50% during the period in one of the best performances globally. Despite the advances, the two gauges are still below their 2021 highs.

To some, however, the scars of China’s prolonged market downturn run so deep that returning is a nonstarter. A wave of regulatory crackdowns that began in 2021 — spanning sectors from tech to tutoring — sent equities into a tailspin and fueled the “uninvestable” narrative.

Authorities are also keen to tame market exuberance, suggesting runaway rallies may face scrutiny. Geopolitical tensions mean America’s biggest public and pension funds will continue avoiding China for political reasons. Florida last year joined a number of US states in requesting its pension funds to divest Chinese holdings.

SPILLOVER TO BONDS
Nonetheless, growing interest in other asset classes point to a common theme: Beijing is committed to supporting the economy, and the US trade war will only embolden the country’s industrial strength.

Chinese tech companies have sold a record amount of yuan-denominated debt in Hong Kong this year. The “big growth” in dim sum bond markets has been supported by a broadening investor base across continents, according to Eugene Ng, head of debt capital markets for greater China at HSBC Holdings Plc.

In Tencent Holdings Ltd.’s bond sale earlier this month, those from the Middle East invested across the curve while high-quality funds from Europe also joined, Ng said.
Alibaba’s convertible bond sale was multiple times subscribed, with bidders including long-only investors and hedge funds.

While the revival in risk sentiment has weighed on government bonds, expectations of PBOC easing and China’s low inflation are starting to lure back buyers. The conversation with clients has shifted from “how to de-risk” to “what are the opportunities” in China, said Stephen Chang, managing director and Asia portfolio manager at Pimco. Chang, who co-manages a $572 million fund that beat 98% of peers this year, said he may buy more Chinese government bonds after purchasing some recently.

Foreigners trimmed their holdings of Chinese government bonds in August but the scale of the selloff eased to just one fifth of July’s, official data showed.

“The real interest rate of yuan bonds is still relatively high, which provides a very good channel for global investors,” Zou Lan, the PBOC’s deputy governor, said at a forum in Hong Kong last week.

All of this has been supportive for the yuan, which rose to 7.1 against the dollar this month — the strongest since November.

“China is not uninvestable,” said Thomas Fang, head of China global markets at UBS AG. “The vast gap between China’s global economic footprint and the low single-digit allocation from global investors represent a significant long-term opportunity.” — Bloomberg

Top 5 crypto wallets in the Philippines: Secure and convenient options for every Pinoy

(This article is a paid content published on Spotlight, BusinessWorld’s sponsored section, and therefore does not reflect BusinessWorld’s views on the matter. BusinessWorld does not endorse any cryptocurrency and does not have any legal liability on any decisions derived from reading cryptocurrency-related advertisements published on its platforms. Readers are advised to thoroughly research and understand potential risks before availing cryptocurrency products or services.)

The Philippines has become one of the fastest-growing crypto markets in Southeast Asia. From OFW remittances and play-to-earn gaming, to using digital assets for online shopping and payments, Filipinos are finding more reasons to adopt cryptocurrency in their daily lives.

At the heart of this growth is the crypto wallet — the essential tool that keeps digital assets safe while giving access to trading, investing, and Web3 services. With more than 70% of Filipinos accessing the internet through mobile devices, the best wallets today are designed to be mobile-friendly, secure, and easy to use.

Here are the top 5 crypto wallets in the Philippines right now:

Bitget Wallet

Bitget Wallet has quickly risen in popularity among Filipinos because it combines security, convenience, and everyday usability. It supports thousands of tokens across multiple blockchains and connects users to DeFi, NFTs, and dApps with just a few taps.

For Filipinos, Bitget Wallet is especially practical:
– It’s mobile-first, making it easy to manage crypto on the go.
– It integrates with QRPH for Web3 payments, bridging crypto with local transactions.
– It offers staking and trading features for those looking to grow their holdings.

Binance Wallet

A strong choice for active traders, Binance Wallet offers quick access to spot and futures markets. Many Filipinos use it to trade popular coins like Bitcoin, Ethereum, and BNB. While powerful, it can feel overwhelming for first-time users who only want simple storage.

MetaMask

For Filipinos diving into NFTs and play-to-earn games, MetaMask is often the go-to. It works with Ethereum and other EVM-compatible chains, making it a favorite in the Web3 space. The tradeoff is that gas fees and network setup can be confusing for beginners.

Trust Wallet

Trust Wallet is known for being simple and mobile-friendly, which appeals to the Philippines’ mobile-first population. It supports multiple blockchains and is great for users who want a straightforward wallet without too much complexity.

Coins.ph Wallet

As one of the earliest crypto platforms in the Philippines, Coins.ph remains popular for its peso integration. Users can cash in through local banks, e-wallets, and convenience stores, and even pay bills directly. It’s ideal for Filipinos who want an easy bridge between crypto and everyday transactions, though it operates more as a centralized service.

Final Thoughts

Crypto wallets are no longer just for storing assets — they are becoming part of the way Filipinos earn, spend, and send money. From OFWs remitting through stablecoins, to gamers cashing out tokens, to young investors growing their portfolios, wallets are the gateway to the digital economy.

 

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DA eyes rice import ban extension until year-end

PHILIPPINE STAR/KRIZ JOHN ROSALES

The Department of Agriculture (DA) is considering extending the ban on rice imports until the end of the year as farmgate prices of unmilled rice continue to fall.

“I met with the President last week and we decided to extend the import ban by a minimum of 30 days,” Agriculture Secretary Francisco P. Tiu-Laurel, Jr. told reporters in mixed English and Filipino at the House of Representatives on Monday. “It is possible that it will be extended until the end of the year.”

He said the extension seeks to prop-up plunging farmgate prices of unmilled rice, which had dropped to P8 to P10 per kilo.

Philippine President Ferdinand R. Marcos, Jr., in August announced a 60-day suspension of rice imports starting Sept. 1 to protect Filipino farmers.

Mr. Tiu Laurel said the President would also issue an executive order for the emergency procurement of palay from local producers, as well as the emergency procurement of warehouses to store the rice stocks.

The Philippines is the biggest importer of rice in the world, according to the US Department of Agriculture. It is projected to import about 4.9 million metric tons this year. — Adrian H. Halili

Cagayan Valley’s captivation colors dazzle at Festival Mall Alabang

Padday na Lima paints the metro with Cagayan Valley’s hues of heritage, opening the trade fair with a vibrant showcase at the Festival Mall Alabang, last Friday Sept. 19. Brimming with culture and tradition, Padday na Lima, the Ybanag vernacular for “made by hands,” is the prime venue for showcasing the region’s best of the best.

Welcoming the guests was DTI Region 2 Regional Director Ma. Sofia G. Narag, CESO V, who invited guests to witness the dazzling spirit of Cagayan Valley, embodied in its colors, flavors, and artistry. DTI Regional Operations Group Assistant Secretary Grace Baluyan, together with LGU officials and private partners, lauded the fair as a powerful testament to the region’s vibrant heritage and the resilience of its MSMEs.

Guests were treated to a splash of colors through the Hibla’t Habing Rehiyon Dos fashion show, alongside an impressive display of the region’s best offerings in the provincial pavilions. Each product tells a story of tradition, ingenuity, and the hardworking communities behind their creations.

Alongside the launch of the 19th Padday na Lima Regional Trade Fair was the unveiling of the fair’s website PaddayNaLima.ph, a digital platform designed to expand the visibility and market reach of Region 2’s MSMEs beyond that of the physical fair.

Come and experience this extraordinary festival of colors firsthand. Padday na Lima runs from Sept. 19-25, 2025 at the Upper Ground, Carousel Court and East Hall, Festival Mall Alabang, Muntinlupa City. Support local, shop local!

 

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South Korea begins visa-free entry for Chinese tourist groups

STREET VENDORS wait for customers at Myeongdong shopping district in Seoul, South Korea, Jan. 9, 2023. — REUTERS

SEOUL/BEIJING – South Korea began offering visa-free entry for Chinese tourist groups on Monday, a measure it hopes will boost the economy and help improve ties with its Asian neighbour.

As part of the pilot programme due to run through until next June, groups of three or more tourists from mainland China will be able to stay without a visa for 15 days.

The action comes ahead of China’s National Day holidays from October 1-8, as well as a run of South Korean holidays around the same time.

South Korean companies are seeking to benefit from the increased demand. Shilla Duty Free has organised a Chinese cruise tour and food delivery app Baedal Minjok is introducing payment options in Alipay and WeChat Pay.

The programme, announced in March, follows China’s decision last November to offer visa exemptions to South Koreans for up to 30 days.

The last time South Korea offered mainland Chinese similar visa-free entry was from December 2017 to March 2018, coinciding with the Pyeongchang Winter Olympics.

The new administration of South Korean President Lee Jae Myung is hoping to further improve ties with China during an expected visit by President Xi Jinping in late October to an Asia-Pacific summit in South Korea. — Reuters

Britain may toughen rules for migrants seeking permanent residency

IAN TAYLOR-UNSPLASH

LIVERPOOL, England – Britain will consider tightening the rules over how migrants can settle permanently in the country by making applicants prove their value to society, interior minister Shabana Mahmood will say on Monday.

The plan is the latest government effort to dent the rising popularity of the populist Reform UK party, which has led the debate on tackling immigration and forced Prime Minister Keir Starmer’s Labour Party to toughen its policies.

Most migrants can currently apply for “indefinite leave to remain” after five years of living in Britain, a status that gives them the right to live permanently in the country.

In her first speech to Labour Party conference as interior minister, Mahmood will say the government is considering making changes so people will only qualify for this status if they pay social security contributions, have a clean criminal record and do not claim benefits.

The government is considering only allowing people to qualify if they can speak English to a high standard and have a record of volunteering in their communities, Mahmood will say, according to extracts of her speech released by Labour.

A consultation on the proposals will be launched later this year, she will say.

Nigel Farage’s anti-immigration Reform UK, which is leading in opinion polls, said last week it was considering scrapping “indefinite leave to remain”, and replacing it with a five-year renewable work visa.

Starmer accused Reform on Sunday of planning a “racist policy” of mass deportations that would “tear this country apart”.

Immigration has long been one of the most important issues for voters in Britain.

Controlling the number of arrivals was a key factor in the 2016 vote to leave the European Union, yet net arrivals hit record levels after Britain left the bloc. — Reuters

Davao Doctors Hospital (Clinica Hilario), Inc.’s share ‘Buyback Program’ approved by Board of Directors

 

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Once China’s richest man, Wang Jianlin now faces curbs on luxury spending – reports

FREEPIK

SHENZHEN, China – Wang Jianlin, chairman of Chinese conglomerate Dalian Wanda Group, and once China’s richest man, has been restricted from high-value consumption by a court in Gansu province, according to information provider Qichacha and reports in local media.

The restriction, which prohibits high-end spending on luxury goods, services or hotels, relates to a case filed against Dalian Wanda and several affiliates in July and an enforcement amount of 186 million yuan ($26.08 million), according to the state-owned Beijing Daily.

In June state-run The Paper reported that cash-strapped Wanda would sell 48 of its giant shopping malls, known as Wanda Plaza, to a consortium of investors. — Reuters

Gross borrowings hit P508.5B in Aug.

BW FILE PHOTO

THE NATIONAL Government’s (NG) gross borrowings nearly tripled in August amid sharp rise in domestic and foreign borrowings, the Bureau of the Treasury (BTr) said.

The latest data from the Treasury showed that total gross borrowings jumped by 192% to P508.53 billion in August from P174.03 billion in the same month a year ago.

Month on month, gross borrowings surged by 206% from P166.11 billion in July.

Domestic borrowings, which made up 97.97% of the total, rose by 198% to P498.21 billion in August from P167.05 billion in the same month last year.

This was composed of P425.61 billion in retail Treasury bonds (RTB), P60 billion in fixed-rate Treasury bonds (T-bonds), and P12.6 billion in Treasury bills (T-bills).

External borrowings, which mainly consisted of project loans, climbed by 47.57% to P10.31 billion in August from P6.99 billion in the previous year.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said elevated gross borrowings in August were likely driven by the latest RTB issuance as the government needed additional funds to plug the budget deficit.

The government raised P507.16 billion from the issuance of RTBs in August, exceeding the P30-billion target.

“The large increase in borrowings can be attributed to the large issuance of domestic debt securities by the government which successfully met the demand for these securities amid investors seeking safe returns,” Reinielle Matt M. Erece, an economist at Oikonomia Advisory and Research, Inc., said in a Viber message. 

END-AUGUST BORROWING
Meanwhile, NG’s gross borrowings stood at P2.27 trillion in the January-to-August period, up 17.22% from P1.93 trillion a year ago.

The total borrowings accounted for 87.16% of the revised P2.6-trillion financing program for 2025.

Domestic debt accounted for the bulk or 81.19% of total gross borrowings in the first eight months.

Gross domestic debt increased by 11.46% to P1.84 trillion as of end-August from P1.65 trillion in the same period last year. This made up 87.12% of the P2.11-trillion program this year.

Broken down, domestic debt was composed of P941.84 billion in fixed-rate Treasury bonds, P425.61 billion in RTBs, P300 fixed-rate Treasury notes, and P172.45 in T-bills.

As of end-August, gross external debt rose by 50.89% to P426.23 billion from P282.46 billion a year ago. The total foreign borrowings in the January-to-August period accounted for 87.31% of the P488.17-billion program this year.

Broken down, foreign debt was made up of P191.97 billion in global bonds, P171.31 billion in program loans and P62.96 billion in project loans.

External borrowings in the end-August period were also padded by the global bond issuance that raised $3.3 billion or P192 billion in late January but settled in February.

Mr. Ricafort said the government would likely exceed its borrowing program with the ballooning budget deficit.

“There is a chance if the budget deficit widened for the rest of 2025 and needed to be funded by additional NG borrowings,” he said.

Separate data from the BTr showed that the fiscal gap swelled by 56.38% to P84.8 billion in August, which brought the eight-month deficit to P869.2 billion.

“The government’s recalibration of debt to increase the share of domestic debt over foreign debt sources is reflective in the composition of new borrowings this August. We may see the same trend in the coming months,” Mr. Erece said.

The government favors domestic sources of debt as it aims to reduce foreign currency risk.

The BTr earlier said it is looking to borrow P437 billion from the domestic market in the fourth quarter, comprised of P262 billion in T-bills and P175 billion in T-bonds.

For 2026, the financing program is set at P2.68 trillion, of which P2.05 trillion will be from local lenders and P627.1 billion from foreign sources.

HIGHER DEBT
Meanwhile, the share of Philippines government debt to gross domestic product (GDP) edged up to 57.8% in the second quarter of 2025 from 56.7% a year earlier, according to the Institute of International Finance quarterly debt monitor.

Household debt as a share of GDP slid to 11.3% in the second quarter this year from 12.1% in the same period a year ago.

The domestic financial sector’s debt-to-GDP ratio eased to 7.2% in the second quarter from 7.6% in the same quarter in 2024.

On the other hand, nonfinancial corporates’ debt-to-GDP ratio also eased to 25.7% in the second quarter this year from 26.8% a year ago. — A.R.A.Inosante

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