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Mayon Volcano raised to Alert Level 2

MAYON Volcano spews ash and lava as seen from Legaspi City, Albay on June 11, 2023. — PHILIPPINE STAR/EDD GUMBAN

THE state seismology agency raised Mayon Volcano’s alert status to Level 2 on Thursday amid increased seismic activity and rockfall in the volcano, warning citizens of potential eruption.

In a 6 a.m. bulletin, the Philippine Institute of Volcanology and Seismology (Phivolcs) said that Mayon was showing increasing unrest and heavy rockfall shedding at its summit since November.

“This means that there is current unrest driven by shallow magmatic processes that could lead to hazardous magmatic eruption,” it added.

Phivolcs said that it had recorded 599 rockfall events in the last two months of 2025, noting the highest incidence occurred on Dec. 31 with 41 rockfall events.

“Increased rockfall at Mayon has been a precursory sign of magmatic dome growth within the upper edifice preceding an eruption,” the agency said, citing the same conditions before the volcano’s 2023 eruption.

The seismology agency also noted rising cases of ground swelling, mainly caused by rising magma and gas pressurization.

It added that the persistent rockfall coupled with ground swelling “may indicate increased chances of an eruption occurring at the summit of Mayon, generating life-threatening volcanic hazards that may impact surrounding communities.”

Phivolcs called on the public to remain vigilant and refrain from entering within six-kilometer radius of the volcano to minimize risks from sudden explosions, pyroclastic density currents (PDC), rockfall, landslides and ballistic projectiles.

“Local government units must prepare communities within the PDC hazard zone for subsequent evacuation in case unrest suddenly escalates and the Alert Level is further raised,” it added.

Civil aviation authorities are also advised to warn pilots to avoid flying close to the volcano’s summit, noting that ash and ballistic fragments from any sudden eruption can be hazardous to aircraft. — Adrian H. Halili

22 hurt in Cotabato New Year’s Eve grenade attack

COTABATO CITY — Two men riding a motorcycle together left 22 revelers, including children, wounded after a grenade attack at Barangay Dalapitan in Matalam town in Cotabato at about midnight on Wednesday.

Lt. Col. Arniel C. Melocotones, Matalam police chief, and local executives separately told reporters on Thursday morning that one of the two motorcycle-riding men threw a fragmentation grenade at the victims, then setting off firecrackers and pyrotechnics along a highway in Sitio Ipil-Ipil in Barangay Dalapitan, and motored away immediately.

Barangay officials and police investigators who responded to the incident said the grenade blast that ripped through the area hurting 22 revelers, among them grade school children.

The incident triggered panic among villagers in Barangay Dalapitan.

The victims, who sustained shrapnel wounds in different parts of their bodies, were immediately transported by policemen and emergency responders from the Matalam local government unit to different hospitals for treatment.

Governor Emmylou Taliño-Mendoza, chairperson of the multi-sector Cotabato Provincial Peace and Order Council, has condemned the bombing and urged local officials in Matalam and residents of Barangay Dalapitan to help the police identify its perpetrators.

“Our provincial government will provide the victims essential support that they will need for the treatment of their injuries,” Ms. Mendoza said.

Brig. Gen. Arnold P. Ardiente, director of the Police Regional Office 12, said Mr. Melocotones and his subordinates in the Matalam Municipal Police Station, intelligence agents from the Cotabato Provincial Police Office and local officials are cooperating in identifying the two men behind the bombing for prosecution.

Army Brig. Gen. Ricky P. Bunayog, commander of the 602nd Infantry Brigade, and his superior, Major Gen. Jose Vladimir R. Cagara, commander of the 6th Infantry Division, separately said plainclothes operatives from their intelligence units in the province are helping the police put a closure to the incident. — John Felix M. Unson

Colliers says housing prices may have recovered in Q4

The Veranda at Arca South

RESIDENTIAL property prices may have picked up in the fourth quarter after the slump a quarter earlier, Colliers Philippines said.

“Similar to what we have seen previously, the fourth quarter is traditionally a strong quarter for residential take-up whether within or outside Metro Manila, whether it’s condominiums or horizontal,” Joey Roi H. Bondoc, director and head of research at Colliers Philippines, told BusinessWorld by telephone.

The Bangko Sentral ng Pilipinas (BSP) Residential Property Price Index indicated that housing prices nationwide posted its weakest growth ever in the third quarter at 1.9%.

This was a sharp slowdown from the 7.5% growth posted in the three months to June and the year-earlier 7.6%.

The BSP also reported that lower real estate investment brought banks and trust entities’ real estate exposure down to 19.54% at the end of September from 19.61% at the end of June and 19.55% a year earlier.

Real estate loans climbed 8.9% year on year to P3.096 trillion at the end of September, but real estate investment slipped 5.75% to P354.749 billion.

Mr. Bondoc said yearend bonuses and inflows of remittances from overseas Filipino workers could have spurred demand for residential property in the fourth quarter.

He also noted that the peso’s recent weakness may prompt migrants, especially those from North America, to send more money home.

The peso has been trading between P58 to P59 to the dollar since October, hitting a fresh record low of P59.22 on Dec. 9.

However, Mr. Bondoc said elevated mortgage rates may still continue to dampen housing price growth in the near term, but any potential rate reduction could help property take up and price growth by this quarter next year.

“I think we need to watch out for the… possible reduction in mortgage rates, given that there has been a substantial decline in basic policy rates by the central bank,” he added. “And if that happens, that will provide a better impetus for a spike in residential demand, and therefore residential prices, starting (in the) first quarter of 2026.”

The BSP ended the year with a fifth straight 25 basis-point (bp) cut on Dec. 11, bringing its total reductions on key borrowing costs to 200 bps since August 2024. The benchmark policy rate is currently at an over three-year low of 4.5%. 

Mr. Bondoc said lowering the mortgage rate between 6% and 6.5% from the current 7.8% could help the property industry by raising confidence among buyers.

“But the concern is that they have not been lowering their mortgage rates,” he added. “If they start doing that next year, 2026, I think (that will be) a very good sign that demand and then prices might recover faster because of this lower mortgage rate.” — Katherine K. Chan

Balance of CARS program funding worth P3.99 billion due for release this year — BoI

REUTERS

THE Board of Investments (BoI) said it expects to fulfill its remaining P3.99-billion obligation to fund the Comprehensive Automotive Resurgence Strategy (CARS) program within the year.

Under the CARS program, the government provides participating automotive firms with fixed investment support and production volume incentives. Of the P5.43-billion total commitment, P1.44 billion has been released so far.

BoI Managing Head Ceferino S. Rodolfo expressed confidence that the government’s obligations will be fulfilled this year. 

“In 2026, it’ll be finished… it is not dependent on savings before it can be issued,” he told reporters.

Mr. Rodolfo said the BoI has begun releasing tax payment certificates (TPC) to program participants.

Participants can use the TPC at the Bureau of Internal Revenue (BIR) or the Bureau of Customs (BoC) to offset their duties, Mr. Rodolfo said.

The BIR and the BoC will then bill the BoI for the amount equivalent to the TPC presented, and the Department of Budget and Management will issue the necessary Special Allotment Release Order to cover the payment. — Vonn Andrei E. Villamiel

PPA awards contract to expand Bohol port

THE Philippine Ports Authority (PPA) said it awarded the P501.95-million Getafe Port Expansion project in Bohol to BNR Construction and Development Corp.

The regulator awarded the contract to the Mandaue-based construction company, which submitted the low bid among 11 contenders, PPA said in a notice of award dated Dec. 18.

BNR Construction will have 660 calendar days to complete the project, the PPA said. The project includes construction of the port operational area.

Getafe port in northern Bohol is opposite Cebu City on the Cebu Strait.

In 2024, the PPA said it earmarked up to P16 billion for infrastructure projects until 2028. The funds will be allocated for enhancing port efficiency and capacity, including 14 big-ticket projects targeted for completion within the period.

The PPA said cargo and passenger traffic last year have been stronger than expected, with targets expected to be exceeded due to the demand peak in the fourth quarter of 2025.

The regulator had targeted cargo throughput of 301.47 million metric tons, while container volume is anticipated to top eight million twenty-foot equivalent units. — Ashley Erika O. Jose

Asian airlines seen leading industry’s growth in 2026

BW FILE PHOTO

THE International Air Transport Association (IATA) expects the airline industry, particularly in Asia, to sustain growth in 2026, driven by strong demand across both passenger and cargo segments.

“The air transport industry continues to demonstrate resilience amid persistent non-fuel cost pressures and operational constraints,” IATA said in a report.

The airline trade association projects stronger revenue growth in 2026, as carriers adapt to softer yields by expanding ancillary services and sustaining high load factors through efficient fleet utilization.

“Cost discipline is central to sustaining profitability in this low-margin business. While fuel prices have stabilized, non-fuel costs, particularly labor and maintenance, are rising due to pilot shortages, wage inflation, and aging fleets,” IATA said.

Airlines in the Philippines continue to recover, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said, noting higher domestic passenger tariffs even with foreign tourist arrivals yet to return to pre-pandemic levels.

Passenger fuel surcharges have remained steady, with the Civil Aeronautics Board (CAB) maintaining the surcharge at Level 4 for the sixth month in January.

Jet fuel prices declined 3.8% to $86.73 per barrel for the week ending Dec. 26; on a year-on-year basis, the global average jet fuel price dropped 12.4%.

IATA projects the Asia-Pacific to lead global growth, as regional airlines report rising passenger traffic. For the nine months ending September, the CAB said air passenger volume rose 6.247% to 46.84 million driven by growth in domestic passenger traffic.

Domestic passenger volume was 24.95 million, up 5.36% from a year earlier. International passengers were up 7.25% at 21.89 million.

PAL Holdings, Inc., the operator of flag carrier Philippine Airlines, reported a rise in attributable net income of 33.58% to P9.03 billion for the first nine months, supported by passenger revenue of P116.56 billion, up from P115.66 billion.

Cargo and ancillary revenue contributed P6.71 billion and P12.67 billion, respectively.

Meanwhile, Cebu Air, Inc., the operator of budget carrier Cebu Pacific, recorded an attributable net income of P5.03 billion for the nine months, reversing a net loss of P12.05 billion a year earlier.

Consolidated revenue for the period climbed 78.3% to P66.90 billion.

Passenger revenue for the first nine months rose to P46.13 billion, more than double the P22.48 billion previously. — Ashley Erika O. Jose

PHL food service sales seen rising 10% this year

CUSTOMERS eat at a restaurant in a mall in Quezon City. — PHILIPPINE STAR/ MICHAEL VARCAS

FOOD SERVICE sales in the Philippines are projected to increase 10% in 2026 to $15.4 billion, building on the sector’s recovery to pre-pandemic levels in 2025, according to the US Department of Agriculture (USDA).

In a report, the USDA said food service revenue in 2025 was estimated to have risen 8% to $14 billion from $13 billion in 2024. If realized, this would bring industry sales back to the levels recorded in 2019, before the COVID-19 (coronavirus disease 2019) pandemic.

For 2026, sales of full-service restaurants are projected to increase 3.23% to $2.18 billion.

The projected growth in full-service restaurant sales is attributed to the arrival of new international entrants, the development of innovative restaurant concepts, and increasing consumer demand for unique dining experiences.

The sales of limited-service restaurants are also projected to rise 10.23% to $9.52 billion this year.

According to the USDA, chicken-focused chains are driving growth in the limited-service sector. Asian, including Filipino, limited-service restaurants, as well as bakery, burger, and convenience store formats, are also showing strong performance.

The sales of street stalls and kiosks are also expected to grow 4.68% to $1.97 billion this year.

“Fueled by strong demand for quick, affordable food and beverage options, the enduring popularity of milk tea and grab-and-go coffee kiosks, and the widespread adoption of franchising models enable rapid expansion,” the USDA said.

Sales of cafés and bars are projected to rise 7.13% to $1.74 billion this year. If realized, this would represent a rebound from the 5.9% decline in sales last year.

According to the USDA, growth in the café and bar sector is driven by rising consumer mobility, the popularity of specialty coffee and tea shops, and the rising demand for innovative beverages and café experiences. — Vonn Andrei E. Villamiel

Raising quality of labor-intensive jobs in services seen as key to growth, equity

PHOTO BY BERNARD HERMANT

THE Philippine Institute for Development Studies (PIDS) said the government needs to channel its support to raising the quality of labor-intensive service jobs in retail, transport and hospitality to spur growth and improve equity.

In a Dec. 23 report, the government think tank said services, the largest contributor to gross domestic product and employment, have expanded mainly through subsectors with low productivity and wages.

“Enhancing productivity in labor-absorbing services is an essential priority for both growth and equity,” PIDS said.

The services sector expanded by 5.5% in the third quarter, against 6.3% a year earlier, the Philippine Statistics Authority said.

Wholesale and retail trade, transport and storage, accommodation and food services, and other low-productivity industries account for 73.6% of total services employment.

These subsectors are dominated by low- to medium-skilled jobs and pay below-average wages, it added.

PIDS also noted that 68% of female workers are in services, especially in the wholesale and retail trades, accommodation and food service activities.

“Improving the productivity of these sectors while ensuring women benefit from, rather than are disadvantaged by, productivity gains is essential to closing the gender gap,” it added.

“Services that are not necessarily big employers, but have high forward linkages, especially to the manufacturing sector, should also be a focus of policy reforms, as productivity improvements in these subsectors have positive spillover effects to the rest of the economy,” PIDS said.

In addition, the think tank said companies can lift productivity by improving management practices, investing in innovation, upgrading workforce skills and adopting new technologies.

Broader structural reforms, though outside the control of individual firms, are needed to create an operating environment that supports sector-wide upgrading, it said.

“A strategic framework that integrates key policy areas — labor market, enterprise and industry development, technology, innovation, and structural reform — can help maximize the impact of public interventions towards increasing productivity in services,” it said.

To address these challenges, PIDS said the government should use a Theory of Change framework to map how labor productivity in services can be improved.

This approach would guide the design and implementation of specific interventions.

“A logic model, such as a theory of change, provides the government a strategic framework to more effectively identify pathways to connect interventions to desired outcomes, rationalize its investments to assist firms and workers, and adopt appropriate policy levers,” PIDS said.

The paper “Increasing Labor Productivity in the Services Sector: Towards a Theory of Change and Some Design Options” was written by Ramonette B. Serafica, Queen Cel A. Oren, Emmanuel F. Esguerra, and Aniceto C. Orbeta, Jr. — Aubrey Rose A. Inosante

PCC opens online reporting system to boost antitrust enforcement

THE Philippine Competition Commission (PCC) said it has opened its case reporting system to the public, allowing individuals and businesses to submit reports of suspected anti-competitive conduct directly through its website.

In a statement, the PCC said the online platform, which opened to the public in December, allows users to file complaints and securely upload supporting documents without staff-assisted processing.

Developed with support from the Korea International Cooperation Agency, the system was unveiled in April last year to replace a multi-step process that required users to request access and wait for staff assistance before submitting reports.

PCC Chairman Michael G. Aguinaldo said the platform is intended to encourage public participation in competition enforcement by making reporting more accessible and secure.

“This system empowers the public to take part in safeguarding competition. By making reporting faster, simpler, and more secure, we are strengthening our collective effort to ensure fair markets for all,” Mr. Aguinaldo said in a statement.

The PCC enforces Republic Act No. 10667, or the Philippine Competition Act, which prohibits anti-competitive agreements, abuse of dominance, and mergers and acquisitions that substantially lessen competition.

The commission said opening the system to the public is expected to improve the detection of potential violations while reducing administrative barriers for complainants. — Vonn Andrei E. Villamiel

Choco Mucho signs up Eya Laure

EYA LAURE — ONE SPORTS/ART BY MITZI SOLANO

THE CHOCO MUCHO Flying Titans have caught one of the biggest, if not the biggest, fish in the Premier Volleyball League (PVL) pool — Eya Laure.

Ms. Laure officially signed with the Flying Titans right on the break of dawn on Thursday to usher in 2026, a year after parting ways with her former team, the disbanded Chery Tiggo.

The power-hitting Alas Pilipinas standout was acquired along with Jaila Atienza, setter Alina Bicar and Choco Mucho returnee Caitlin Viray that highlighted the popular club’s complete rebuild.

“A new era begins,” said the team on its social media account.

Choco Mucho is also expecting the return of its most dangerous weapon in Sisi Rondina, who took a leave and won the beach volley gold in the Southeast Asian Games a month ago in Thailand.

The four, along with Ms. Rondina, will join an already loaded roster headed by Maddie Madayag, Kat Tolentino, Des Cheng, Isa Molde, Deanna Wong and Tia Andaya.

Their arrival came after letting go of Royse Tubino, Bia General, Cherry Nunag and Aduke Agunsanya.

The retooled lineup should boost Choco Mucho’s stock as it aims to bounce back from a pair of forgettable performances — 10th in the PVL on Tour and ninth in the Reinforced. — Joey Villar

Sister teams set to clash in either bracket of PBA semis

SAN MIGUEL BEERMEN — FACEBOOK.COM/PBAOFFICIAL

THE CHASE for the coveted Philippine Cup title in the PBA’s golden season is down to four.

And all that’s left are heavyweights that have taken turns ruling the centerpiece competition in the last five years.

On one side, it’s San Miguel Beermen (SMB), the defending champion and also the winner in 2022, taking on Barangay Ginebra, the kings of the 2020 All-Filipino.

On the other, it’s TNT, the 2021 rulers and runners-up in Season 49, and Meralco, the 2023 titlists.

It’s a pair of explosive best-of-seven affairs beginning on Sunday at the Smart Araneta Coliseum, pitting sister teams but fierce rivals from the MVP Group on one hand and sibling rivals from San Miguel Corp. on the other.

The Final Four also features a squad that made the most of its win-once advantage in the quarterfinals against an opponent that pulled off a twice-to-win reversal to get to this stage — No. 1 SMB versus No. 5 Ginebra and No. 3 TNT against No. 7 Meralco.

“In front of us is TNT. You know they’ve had their number quite a lot last year, they’ve won two championships (Season 49 Governors’ Cup and Commissioner’s Cup), very solid. It’s going to be a battle for us,” said Bolts coach Luigi Trillo after forging a date with the Tropang 5G with a 98-89 win over No. 2 Rain or Shine in the quarterfinal sudden death.

“And I think this is what they (players) want, they want to go through the best. So ngayon andun ’yung TNT. And I feel it’s also going to be a good series on the other side, ’yung Ginebra-San Miguel,” he added.

The Gin Kings took virtually the same path as the Bolts, beating No. 4 Converge a second time, 99-98 in overtime on Stephen Holt’s buzzer-beating winner from three-point arc, to advance.

Revenge may well be added motivation for the crowd darlings with their 4-3 loss to SMB in the same stage last season still fresh.

“We know them. They know us. And we took them to seven games last time. We’re going to try to flip the script this time around,” said Ginebra mentor Tim Cone. — Olmin Leyba

Wembanyama downplays knee injury

VICTOR WEMBANYAMA — NBA.COM/SAN ANTONIO SPURS/REGINALD THOMAS II

SAN ANTONIO star center Victor Wembanyama hyperextended his left knee in the Spurs’ home victory over the New York Knicks on Wednesday, but he doesn’t expect to miss any additional time.

Wembanyama came down awkwardly with 10:32 to play in the game as he attempted to secure an offensive rebound. He stayed down until teammate Stephon Castle helped him up, then hobbled straight to the locker room while giving fans reassurance and saying, “I’m fine. I’m fine.”

He later came back to the bench but didn’t return to action.

After the Spurs rallied for a 134-132 win, Wembanyama said he would have tests done on Thursday, but, “I expect to be back the next game.”

He added, according to ESPN, “I was confident. I was this close to coming back in the game. (They) had to hold me back. It was just a hyperextension, so it should be minimal. We’ve got to do everything tomorrow still to check that everything’s OK.”

San Antonio coach Mitch Johnson said following the game, “I have no idea what to say, but it was good to see him walk back out and be able to finish the game on the bench with his teammates.”

Wembanyama amassed 31 points and 13 rebounds in 24 minutes before leaving the game with the Spurs down, 102-96.

In 21 games this season, Wembanyama is averaging 24.3 points, 11.7 rebounds and 3.4 assists. He was sidelined for 12 games from Nov. 16-Dec. 10 due to a left calf strain. Upon his return, he spent six games coming off the bench on a minutes restriction before rejoining the starting lineup last weekend. — Field Level Media via Reuters

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