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PHL stocks extend climb on Wall Street’s gains

The lobby of the Philippine Stock Exchange in Taguig City, Sept. 30, 2020. — REUTERS

PHILIPPINE STOCKS ended in the green for a second straight day as players continued to pick up cheap shares, and as Wall Street’s climb overnight helped improve market sentiment.

The Philippine Stock Exchange index (PSEi) rose by 0.39% or 23.89 points to close at 6,076.22, while broader all shares index increased by 0.35% or 13.04 points to end at 3,668.63.

“The local market extended its climb as investors continued with their bargain hunting. The recent decline in the local long-term Treasury yields amid the dovish outlook of the BSP (Bangko Sentral ng Pilipinas) continued to help the local bourse,” Philstocks Financial, Inc. Research Manager Japhet Louis O. Tantiangco said in a Viber message.

“The positive cues from Wall Street also gave the market a boost.”

The BSP last week delivered a fourth straight 25-basis-point (bp) cut to bring the policy rate to a three-year low of 4.75% as it warned that a widening corruption scandal has affected investor confidence, leading to weaker prospects for economic growth. It has now lowered benchmark rates by a total of 175 bps since its easing cycle began in August 2024.

BSP Governor Eli M. Remolona, Jr. said another cut is possible at the Monetary Board’s last policy meeting for this year, which will be held in December. More reductions are also on the table next year as they seek to support growth while the inflation outlook also remains manageable.

Meanwhile, Wall Street’s main indexes ended sharply higher on Monday after President Donald J. Trump struck a conciliatory tone about renewed US-China trade tensions, easing investor worries, Reuters reported.

The S&P 500 climbed 1.56% to end the session at 6,654.72 points. The Nasdaq gained 2.21% to 22,694.61 points, while the Dow Jones Industrial Average rose 1.29% to 46,067.58 points.

“The Philippine market continued to advance on tepid value turnover as investors await fresh leads,” AP Securities, Inc. said in a market note.

Value turnover increased to P6.17 billion on Tuesday with 3.17 billion shares traded from Monday’s P4.92 billion with 1.96 billion shares changing hands.

The majority of sectoral indices closed in the green on Tuesday. Mining and oil jumped by 2.4% or 352.10 points to 14,992.18; industrials went up by 0.88% or 79.22 points to 9,005.48; holding firms rose by 0.76% or 37.23 points to 4,878.61; financials increased by 0.69% or 14.06 points to 2,033.65; and property climbed by 0.65% or 14.72 points to 2,277.46.

Meanwhile, services sank by 1.1% or 25.85 points to end at 2,304.33.

“BDO Unibank, Inc. led the index members, climbing 1.78% to P137.40. Puregold Price Club, Inc. was at the tail end, falling 2.43% to P40.10,” Mr. Tantiangco said.

Advancers outnumbered decliners, 102 to 87, while 62 names closed unchanged.

Net foreign selling was at P345.88 million on Tuesday, a reversal of the P109.29 million in net buying on Monday. — Alexandria Grace C. Magno with Reuters

PHL requires $1.79 billion in smart-grid investment — Ember

STOCK PHOTO | Image by Matthew Henry from Unsplash

THE PHILIPPINES will need $1.79 billion in smart-grid investment to follow through on its renewable energy (RE) ambitions, according to energy think tank Ember.

In a report on Tuesday, Ember said upgrading grid infrastructure will be needed if the Philippines and Vietnam are to sustain the momentum of their clean-energy rollouts.

“Vietnam and the Philippines are expected to lead deployment, followed by Indonesia, Thailand, and Malaysia. This growth signals a strong commitment to clean energy but also unprecedented operational complexity,” Ember said.

The think tank said that ASEAN economies share the same challenges in building power systems that can support the rapid demand growth and huge influx of renewable energy.

According to Ember, smart grids are crucial to ASEAN’s clean energy transition, but require substation upfront investment.

A smart grid digitalizes electricity networks, enabling two-way communication between suppliers and users.

It said that a smart grid could deliver the flexibility needed for “high-renewables futures.”

“As the Philippines pursues its RE targets of 35% by 2030 and 50% by 2040, smart grid deployment will be vital in shaping a cleaner and more resilient energy future, delivering reliable, flexible, and secure electricity to both growing industries and households,” according to Alnie Demoral, Asia energy analyst at Ember and lead author of the report.

Ember said the rapid growth driven by digital industries, advanced manufacturing, and data-driven services will depend on reliable electricity. Even short outages can translate into “major economic losses and weakened competitiveness.”

Across ASEAN, the average value of lost load (VOLL) — a planning metric that estimates the economic cost of electricity outages — is estimated at $2.4 per kilowatt-hour (kWh).

Among the ASEAN countries, Myanmar, the Philippines, and Indonesia are exposed to higher risks with their VOLL exceeding $3 per kWh.

Ember said the power interruption on Panay Island in January 2024 was reported to have caused daily losses to the economy of around P400-500 million.

“While such a scale of blackout is uncommon for the island, it illustrates how grid disruptions can have material impacts on local economies and livelihoods,” the report said.

The think tank said that reliability could lead ASEAN to lose nearly $2.3 billion in annual outage-related losses by 2040, through foregone investment, missed industrial production, and a decline in regional competitiveness.

“Nonetheless, the message is clear: modernizing grids is essential to secure growth, unlock renewable potential, and safeguard its place in the global economy,” Ember said. “Delay, by contrast, risks billions in annual losses and erodes the resilience the region has worked hard to build.” — Sheldeen Joy Talavera

Agencies urged to directly procure rice ahead of farmer protest in QC

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THE Department of Agrarian Reform (DAR) said it is asking government agencies and corporations to directly procure rice from farmers to support them during a time of weak farmgate prices of palay (unmilled rice).

Agrarian Reform Secretary Conrado M. Estrella III said in a statement: “We are appealing to all National Government agencies, including Government-Owned and -Controlled Corporations (GOCCs), to rally behind our farmers and directly procure their rice.”

Mr. Estrella made the appeal at a meeting he convened of officials from various parts of the government, including Agriculture Secretary Francisco P. Tiu Laurel, Jr., Speaker Faustino Dy III, National Food Authority Administrator Larry Lacson, House Committee on Agriculture chair Rep. Mark Enverga, House Agrarian Reform Committee chair Rep. Eleanor Bulut-Begtang, Senate Committee on Agriculture, Food and Agrarian Reform chair Senator Francisco Pancratius N. Pangilinan, and local government executives from rice-producing provinces.

The meeting was convened a day ahead of planned protests at the DAR in Quezon City (QC) by rice farmers from Central Luzon, who are saying government has not acted sufficiently to address low farmgate prices.

The “caucus” of officials will submit a recommendation detailing the government procurement plan to the Palace.

This proposed directive aims to create immediate demand for local palay harvests, offer price stability, and ensure government-led support for agriculture.

Mr. Dy was quoted as saying in the statement: “We will continue to push for policies and budget support that ensure fair farmgate prices and national food security.”

Customs seeks talks with AmCham, US Embassy over corruption issues

PHILSTAR FILE PHOTO

THE Bureau of Customs (BoC) said it is seeking a dialogue with the American Chamber of Commerce of the Philippines (AmCham) and the US Embassy after the agency was tagged in a US report as among the Philippines’ “most corrupt.”

“We have provided information through the proper diplomatic channels to clarify our ongoing reforms and have requested a dialogue with the American Chamber of Commerce and the US Embassy to further strengthen cooperation,” the BoC said in a statement on Tuesday.

The BoC hopes to further discuss the findings of the 2025 State Department Investment Climate Statements report and explore future cooperation in promoting good governance and facilitating trade.

In its September 2025 report, the State Department said the BoC is “still considered one of the most corrupt agencies in the country,” calling corruption a major barrier to attracting investments.

It added that the US embassy has received multiple reports from US firms of overly invasive searches, inconsistent customs charges, and demands for “facilitation fees” from BoC personnel. — Aubrey Rose A. Inosante

P349 temporary safeguard duty imposed on imported cement

PHILSTAR FILE PHOTO

THE Department of Trade and Industry (DTI) said it will be imposing a temporary safeguard duty of P349 per metric ton on imported cement for three years.

The DTI said it will be adopting the Tariff Commission’s (TC) recommendation to impose a safeguard duty of P14 per 40-kilogram bag of ordinary Portland cement Type 1 and blended cement.

“The imposition of the safeguard duty will be subjected to dynamic monitoring and review to ensure that prices remain stable and supply stays sufficient to cover demand at any given time,” Trade Secretary Ma. Cristina A. Roque said in a statement on Tuesday.

According to the DTI, the TC recommendation is equivalent to only 3-4% of the prevailing retail price and will level the playing field between domestic manufacturers and importers. It does not expect the extra cost to be passed on to consumers.

It said  the excess cash bond paid by importers, or the difference between the provisional and final duty assessed, will be refunded once the DTI issues the corresponding order.

Ms. Roque said recent earthquakes underscore the need to ensure an adequate and affordable supply of cement.

“The DTI will regularly review the safeguard duty to adjust its scope and intensity in response to market conditions,” she added.

“The department will actively regulate the effects of safeguard tariffs to maintain a balanced environment where both local manufacturers and cement importers can adapt, compete, and thrive, particularly during periods of calamities or supply disruptions,” she said. — Justine Irish D. Tabile

Mati Airport set for expedited development

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THE Department of Transportation (DoTr) said it is expediting the construction and upgrade of Mati Airport in the Davao region, with plans for it to accommodate turboprop aircraft by 2027.

“We are working to expedite the construction of the airport… For 2026, CAAP (the Civil Aviation Authority of the Philippines) allotted a P700-million budget for Mati Airport,” Transportation Acting Secretary Giovanni Z. Lopez said in a statement on Tuesday. 

The DoTr aims to complete the airport’s passenger terminal building by 2026. Turboprop aircraft operations are expected to begin in 2027, to be followed by the introduction of jet services after further upgrades.

Mati Airport is being positioned as an alternative to Davao International Airport, the DoTr said.

Work on the airport started in February after being granted funding for site and runway development. 

In 2023, the provincial government of Davao Oriental pushed for the revival of the mothballed airport to boost tourism.

Initially built in the 1970s, the airport was left unused and has not hosted commercial operations due to land transfer disputes. — Ashley Erika O. Jose

Farm drone demos planned via ‘learning hubs’

IRRI.ORG

THE Philippine Rice Research Institute (PhilRice) said it will begin its rice farming drone rollout via demonstrations at a network of “learning hubs.”

Drone program leader Dindo King Donayre said in an e-mail that these sites will “showcase the effectiveness of digital and precise technologies in real-field farming conditions.”

He added that the sites will be training centers staffed by PhilRice and nearby universities and local governments.

“As the technologies prove their value and usability, training-of-trainers programs and other scaling approaches will help local technicians and farm leaders to become multipliers of innovation within their community,” Mr. Donayre said. — Andre Christopher H. Alampay

Scam calls in the Philippines rise over 78% in Q3

STOCK PHOTO | Image by terimakasih0 from Pixabay

SCAM CALLS in the Philippines rose 78.44% quarter on quarter to 62,390 in the three months to September, anti-scam application Whoscall reported.

According to the Whoscall Scam Report, the scam callers “are taking advantage of legitimate promotional calls like credit card limit upgrades, making their scams sound more believable to unsuspecting consumers,” according to Mel Migriño, the Gogolook Philippines country head and general manager, at a briefing on Tuesday. Gogolook developed the Whoscall app.

She noted that scam callers typically impersonate banks or businesses offering fake rewards or loans to mobile users. These scams are expected to surge until the end of the year in the runup to the holidays.

On a year-on-year basis, scam calls fell 62.24% during the third quarter.

Scam texts declined 42.17% from a quarter earlier to 37,609 in the three months to September, it said. They were down 97.71% year on year.

Ms. Migriño said there was now a greater wariness of scams by text recipients.

“In our assessment, the public now has a significant level of awareness that if they receive a message that has link in it; in most cases, that message is malicious,” she added.

Malicious links, or hyperlinks aimed at directing users to fraudulent websites, jumped 31.65% quarter on quarter to 27,510 in the three months to September, Whoscall said.

“We continue to urge the public to report scam incidents, as these serve as leads for further investigation and as the foundation for various initiatives that raise public awareness against online scams,” Cybercrime Investigation and Coordinating Center Acting Executive Director Renato A. Paraiso said. — Beatriz Marie D. Cruz

PCC clears Metanoia-Copper Smelting deal

THE Philippine Competition Commission (PCC) said it approved the transaction between Metanoia South Pte. Ltd. (Metanoia) and Copper Smelting Investments, Ltd. (Copper Smelting).

“The commission found that the transaction is unlikely to harm competition, citing customers’ strong buying power, strict quality standards, and the limited production capacity of the parties involved,” the PCC said in a statement on Tuesday.

The PCC said the transaction’s impact on the global supply of doré, a semi-pure alloy of gold and silver used in refining, is unlikely to disrupt market dynamics.

“The review included consultations with the Notifying Parties, stakeholders, trade associations, and relevant sector regulators,” the PCC said.

“With no significant change in market power resulting from the transaction, the PCC’s clearance enables the parties to move forward while maintaining a level playing field for industry participants,” it added.

Metanoia is a Singapore-registered company, while Copper Smelting is registered in the British Virgin Islands. — Justine Irish D. Tabile

ADB approves $400-million loan to help reform PHL insurance industry

BW FILE PHOTO

THE ASIAN Development Bank (ADB) said it approved a $400-million loan to the Philippines to help it raise the efficiency of its insurance industry.

“By modernizing the regulatory framework, we are not only strengthening the insurance industry itself — we are building a critical line of protection for the nation, mobilizing long-term capital for development, and ensuring that the benefits of economic growth reach every Filipino entrepreneur and household,” ADB Country Director for the Philippines Andrew Jeffries said in a statement on Tuesday.

The loan aims to support reforms that will create an enabling environment for broader participation in the insurance sector, thereby making the market more efficient, consumer-oriented, and technologically advanced while strengthening climate risk management and disaster resilience.

“The Insurance Reform Program, Subprogram 1 supports broader financial sector development reforms in regulation and supervision, including greater intermediation of long-term credit for government infrastructure projects,” it said.

The program will be implemented in three sequenced subprograms and support comprehensive reforms aimed at enhancing resilience, financial inclusion, and consumer trust.

The ADB’s partner in the program is the Insurance Commission (IC).

Total premiums paid for life and nonlife insurance products grew 12.98% year on year to P242.842 billion by the end of June, the IC reported.

Insurance penetration, or the ratio of insurance premiums to gross domestic product, rose to 1.79% from 1.71% a year earlier. — Aaron Michael C. Sy

Manny Pangilinan leads honorees at PBA Press Corps Awards Night

EXECUTIVE OF THE YEAR awardee Manny Pangilinan — PBA.PH

Pangilinan named Executive of the Year

PLDT Chairman and Chief Executive Officer Manny V. Pangilinan (MVP) reaffirmed his commitment to basketball and underscored the immense value of the game to Filipinos when he led the honorees in the PBA Press Corps Awards Night on Monday.

Mr. Pangilinan was bestowed the “Danny Floro Executive of the Year” plum for a record-tying third time following the two-championship, one-runner-up run of TNT, the MVP Group’s flagship franchise, in Season 49.

“The passion which binds us all here tonight is unique,” said Mr. Pangilinan, who previously received the honors in 2003 and 2011 and became a three-time winner after the late RFM Team Manager Elmer Yanga (1993 to 1995) and San Miguel Corp. Sports Director Alfrancis Chua (2018, 2021, 2024).

“And that passion goes beyond business. It is about pride in the heart, pride in seeing Filipinos excel on the court here or internationally, like watching Gilas play in tournaments abroad, an experience that’s so different and so surprising.”

He lauded efforts of PBA stakeholders in keeping the fire burning.

“Each season reminds us how much more we can improve the game and make it more entertaining. Of course, rivalry keeps the league alive and respect keeps it whole,” he said.

“Basketball has been kind to all of us. It has built friendships, developed character, lifted spirits in difficult times, and inspired this country. And it has provided jobs and livelihood. In moments when our country was divided, basketball has brought us together in one.”

MVP emphasized the responsibility to equally passionate fans as well.

“May we all continue to serve the game in sportsmanship and with love, for in serving Philippine basketball well, we also enrich the lives of the greatest basketball fans in the world,” he said.

Tropang 5G mentor Chot Reyes shared the spotlight as he received the Baby Dalupan Coach of the Year accolade for a record-extending seventh time.

The prize, he shared, was a real bright moment coming off what he termed as the “deepest, darkest moment” of his career — the boos by the home crowd at Gilas Pilipinas’ final game in the 2023 FIBA World Cup at the Big Dome.

“I thought at that time I had enough of coaching, that I didn’t deserve everything that had happened so far. But apparently God had other plans. I’m thankful to our management, Boss MVP, Boss Ricky (Vargas) for continuing to give me the opportunity and their trust and now we’re here. Who would have thought, right?” — Olmin Leyba

DLSU faces UE in must-win duel ahead of UP clash

DLSU MIKE PHILLIPS — UAAP

Games on Wednesday
(Mall of Asia Arena)
8 a.m. – DLSU vs UE (16U)
10 a.m. – UST vs FEU-D (16U)
1 p.m. – DLSU vs UE (Women)
3 p.m. – DLSU vs UE (Men)
5 p.m. – UST vs FEU (Men)
7 p.m. – UST vs FEU (Women)

SINK or swim.

Sans injured forward Mason Amos, De La Salle University (DLSU) takes on the listless University of the East (UE) in a must-win duel to stay afloat ahead of an even tougher clash with reigning champion University of the Philippines (UP) to end the first round in the UAAP Season 88 men’s basketball tournament on Wednesday at the Mall of Asia Arena.

Game time is at 1 p.m. as the DLSU Green Archers try to prime up for the finals rematch against the UP Fighting Maroons on Sunday amidst the piling woes in their title redemption tour — without the 6-foot-7 Fil-Aussie and in the thick of a losing skid. At 5 p.m., Santo Tomas (4-1) battles Far Eastern University (1-4) to forge a tie with National University (5-1) on top.

“As long as we have life, we have chance,” vowed the embattled Topex Robinson after the confirmation of Mr. Amos’ MCL injury on his right knee.

“That’s just the situation now we’re with the team. Yes, we’re down but with so many games to come, you could never cut us out of this scenario.”

Mr. Amos suffered the injury on Sunday late in the Green Archers’ 82-78 loss to the Bulldogs to fall outside the Top Four with a 2-3 slate, a stark difference to their hot starts in the last two seasons marked by finals appearances and a title in Season 86.

He will be out at least a month but the recovery could be longer, likely leaving Mr. Robinson with a crippled crew for the rest of the second round as they fight for dear life in a flat start to its hopeful season following the availability of Mr. Amos from Ateneo de Manila University as well as other recruits Kean Baclaan (NU) and Jacob Cortez (San Beda University) from residency.

La Salle also admitted that it’s still adjusting without two-time MVP Kevin Quiambao for the first time after his graduation and jump to pros in Korea but that should not be enough reasons for them to surrender their bows and arrows — not now and ever.

“There is no way for us but to keep on persevering and keep on fighting. We could have all the reasons to just die, but that’s the least of our priorities right now,” added Mr. Robinson, counting on skipper Mike Phillips to steady the ship.

Standing in their way is a hungry UE Red Warriors unit out for a breakthrough under new mentor Chris Gavina amidst a 0-5 start and an 11-game dry spell since last season. — John Bryan Ulanday

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