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Bank Indonesia set to revamp benchmark for money market

The Bank Indonesia headquarters in Jakarta, Indonesia. — DIMAS ARDIAN/BLOOMBERG

INDONESIA is set to phase out a key money-market benchmark this week, concluding a years-long transition to align with global standards.

Bank Indonesia (BI) will retire the Jakarta Interbank Offered Rate (Jibor) and fully replace it with the Indonesia Overnight Index Average, known as Indonia, on Jan. 1, as it aims to improve transparency and deepen the domestic funding market. Local institutions have been using the alternative reference rate as part of the transition process since August 2018.

The shift comes at a timely moment, as Bank Indonesia pushes for lenders to pass through aggressive interest rate cuts to households and businesses to support growth. It also brings the Southeast Asian country in line with a global move toward transaction-based benchmarks.

Institutions use Jibor to determine interest rates for bank deposits, swaps and consumer loans, among other things. Bank Indonesia has introduced compounded Indonia to match the tenors offered by Jibor and overnight index swap as a hedging instrument after the old benchmark is retired.

“Indonia is considered to better reflect interest rate movements in the market,” said Benny Aroeman, head of markets at Citibank Indonesia.

“This supports more effective monetary policy transmission because the benchmark used is in line with the conditions and dynamics of the money market.”

Earlier this month, BI Governor Perry Warjiyo said credit demand remained weak amid persistently high borrowing costs. While the central bank has lowered the benchmark interest rate by 125 basis points (bps) so far this year, lending rates have only fallen 24 bps.

With Indonesia’s money market transactions set to rise to 81 trillion rupiah ($4.8 billion) per day by 2030, according to Mr. Warjiyo, from 54 trillion rupiah in October, a more market-driven benchmark will be key for transmission of lower interest rates.

The transition is an important step in making the money and foreign exchange markets work more efficiently and ensure they are more modern and internationally standardized, said Agustina Dharmayanti, BI’s executive director of financial market development.

Authorities around the world are moving from interbank offered rates toward benchmarks based on real transactions to improve transparency and reliability. Jibor, for instance, is determined by quotations from 17 contributing banks, while Indonia is based on all transactions that occurred in the overnight interbank money market. Average daily interbank transactions reached 15.4 trillion rupiah — or around 63.5% of total money market transactions — throughout 2025, according to the central bank.

Others in Southeast Asia have also introduced alternative market reference rates. Thailand proposed its overnight repurchase rate in 2020 before phasing out the Thai Baht Interest Rate Fixing in 2023, while Malaysia unveiled its overnight rate in 2021 with plans to stop its Kuala Lumpur Interbank Offered Rate in 2029.

While some customers still have a preference for the forward-looking reference interest rates, “the transition process is going well,” said Wiwig Santoso, head of treasury at PT Bank SMBC Indonesia. “So far, only a few clients are still in the process of finalizing the addition of a fallback clause to their current contracts.” — Bloomberg

Pump-priming industrial, leisure sectors seen to aid inclusive growth

ALEXES GERARD-UNSPLASH

PHILIPPINE PROPERTY has been experiencing some headwinds. Despite this, potential for exponential growth beyond 2025 looks promising.

Two sectors we need to focus on are hotel and industrial sectors. It can’t be denied that the country has been having a difficult time welcoming more international visitors post-covid. But the growth prospects being seen by foreign hotel brands as well as local hospitality players are immense, especially given the government’s promise of modernizing more airports. Attracting more tourists bodes well for the country, as the sector is one of the key job-generating segments  of our economy, benefiting  a souvenir seller and conglomerates building hotels.

The industrial sector, on the other hand, has shown resilience even at the height of covid restrictions. But the challenge of attracting more high-value manufacturers remains, especially if the government wants to provide more employment opportunities in the countryside. While there’s ample industrial space for locators as developed by private players, the public sector needs to do its part and improve business registration systems, further simplify tax rules, honor sanctity of contracts, efficiently build more infrastructure, and improve the Philippines’ global anti-corruption rankings.

GOVERNMENT UNLIKELY TO MEET TOURIST ARRIVAL TARGET,  AS LOCAL TRAVELERS LIFT HOTEL DEMAND
Foreign arrivals reached 4.8 million as of the first 10 months of 2025, down 2.3% year on year and behind the government’s full-year target of 7.7 million set in 2024. The Tourism department is looking at other foreign markets (India, Canada and France) to fill the void left by subpar arrivals from South Korea and China. The Philippine government’s goal is to attract 12 million international tourists in 2028.

Meanwhile, Metro Manila occupancy rates are likely to hover above 60% (vs. 72% in 2019) despite lower foreign arrivals. Local tourists are likely to partly offset lower than expected foreign arrivals. Meanwhile, in-person events will continue driving the demand for meetings, incentives, conferences and exhibition (MICE) facilities. This should also raise daily rates and occupancies.

There is a strong case for the Philippine leisure sector to diversify its tourism markets and expand MICE facilities especially now that conferences and business events continue to flourish. Colliers believes that the domestic market will likely help fill the void left by plummeting South Korean and Chinese tourists so it’s pivotal for hotel operators and other leisure-related businesses to continue innovating to corner more domestic travelers.

CENTRAL LUZON’S NEW INDUSTRIAL SUPPLY TO OUTPACE SOUTH LUZON’S
From 2026 to 2028, Colliers sees the delivery of 870 hectares of new industrial supply in Central Luzon, more than quadruple compared to the 200 hectares of expected new supply in Southern Luzon during the same period.

With an improving business environment and bullish prospects for the region, we see more high-value manufacturers locating in Central Luzon, especially in Pampanga, Tarlac, Bulacan, and Bataan.

Industrial park and modern warehouse developers in Central Luzon should be mindful of the requirements of new and expanding locators in the region. We also encourage industrial developers to build more PEZA-accredited warehouses in Central Luzon, especially in Clark in Pampanga and Capas in Tarlac due to their strategic locations and proximity to the Clark International Airport.

HIGHER-VALUE LOCATORS TO DRIVE INDUSTRIAL SPACE ABSORPTION
Colliers expects a downward pressure on pricing (land leasehold and warehouse rates) in South Luzon due to rising vacancy as a result of sizable new supply, as well as slowdown in demand for big-box warehouses. The rise in vacancy should be partly tamed by previous investment commitments likely to materialize over the next 12 months.

Overall,  we see manufacturers of semiconductors, consumer goods, cosmetics, renewable energy components and automotive firms including electric vehicles (EVs) driving industrial demand over the next 12 months.

LAND LEASE EXTENSION A BOON TO INDUSTRIAL SECTOR
In August 2025, President Marcos signed into law Republic Act (RA) No. 12252, liberalizing the lease of private lands by foreign investors. The law extends the stability of long-term lease contracts for industrial estates, factories, agro-industrial ventures, tourism, agriculture, agroforestry, and ecological conservation from 50+25 years to up to 99 years. In our opinion, the law’s implementation will be crucial in attracting more foreign manufacturers into the country.

Developers with expansive industrial footprint should also take advantage of the entry and expansion of manufacturing locators by enticing them to put up facilities within their industrial parks. With more investments in the country given the land lease term extension, Colliers sees the creation and expansion of more industrial parks in Central Luzon and the Cavite-Laguna-Batangas (Calaba) corridor.

 

Joey Roi Bondoc is the director and head of Research of Colliers Philippines.

joey.bondoc@colliers.com

Metro Manila rental yields may stay flat in 2026 — analysts

Condominium and office buildings are seen in the Ortigas Business District, April 4, 2025. — PHILIPPINE STAR/MIGUEL DE GUZMAN

By Beatriz Marie D. Cruz, Reporter

RENTAL YIELDS in Metro Manila’s residential market are expected to remain flattish next year amid weak investor demand and lingering condominium oversupply, property consultants said.

“Yields will likely remain flat for the year 2026, with core central business districts (CBDs) recovering faster,” Roy Amado L. Golez, Jr., director for research, consultancy, and valuation at Leechiu Property Consultants (LPC), told BusinessWorld in an e-mail.

“Rents in Bonifacio Global City and Taguig have already exceeded pre-pandemic numbers, while other locations remain at a significant discount. This situation will persist until supply is taken up,” he said.

Joey Roi H. Bondoc, director and head of research at Colliers Philippines, said rental yields will likely stay flattish next year as residential demand is driven mainly by end-users rather than investors.

“I think one reason why the ready-for-occupancy promos, for example, of certain developers are working is because the demand is actually end-user driven,” he said in a phone interview.

In Metro Manila, residential rental yields averaged 4.1% in the primary market, or properties sold by developers to end-users, LPC said in its fourth-quarter property market report.

Meanwhile, secondary market yields — which cover pre-owned units offered for sale or for rent by their owners — averaged 4.8%, based on LPC data.

“Secondary market units will continue to generate higher yields versus primary market units, since buyers will be acquiring units from sellers who bought these units at much lower prices,” Mr. Golez said.

Mr. Bondoc added that Metro Manila’s primary residential market continues to face an oversupply of 30,400 unsold units, equivalent to about eight years’ worth of inventory.

Most of the region’s condominium inventory falls under the affordable to lower middle-income segment, with units typically priced between P2.5 million and P6.99 million, Colliers data showed.

“Current prices of condominiums are on the high side, and with challenging rents, this results in lackluster yields. To boost rental yields, prices should remain flat — since we don’t really see widespread price cuts — to allow the market to catch up,” Mr. Golez said.

Joe Curran, chief executive officer at Savills Philippines, expects rental yields in the region to be “broadly stable to slightly firmer” next year, at around 4% to 6%.

He said lower interest rates, return-to-office mandates, and the long-term stay of expatriates and students could help lift rental demand in Metro Manila’s residential market.

To improve rental yields, developers should adopt a more disciplined launch pipeline for condominium projects, Mr. Curran said.

He also cited the need for stronger marketing and proactive maintenance to make unsold condominium units more attractive for leasing.

“While Metro Manila stock continues to grow, supply that remains aligned with genuine end-user and rental demand should support stronger pricing power over the medium term,” Mr. Curran said in an e-mailed reply to questions.

For 2026, Colliers projects residential vacancy to ease to 26% from 26.5% as of end-2025, as developers slow the launch of residential projects in Metro Manila.

WTC Manila bets on MICE growth in 2026

WTCMANILA.COM

WORLD TRADE CENTER Metro Manila (WTCMM) expects robust demand next year as the Philippines rises as a meetings, incentives, conventions, and exhibitions (MICE) destination, its chief executive officer (CEO) said.

“The year 2026 is shaping up to be a strong year for WTCMM, and we see this growth increasingly consistent in recent years,” WTCMM Chairman and CEO Pamela D. Pascual said in an e-mailed reply to questions.

For 2026, a mix of trade shows, consumer events, and industry conferences and meetings will be held at the exhibition center, she added.

“With the Philippines gaining visibility as a MICE destination and our location in Pasay giving us a clear accessibility advantage, steady growth across multiple sectors keeps us optimistic,” Ms. Pascual said.

Other demand drivers include the development of hotels and malls in Pasay City, as well as the center’s proximity to Ninoy Aquino International Airport and seaports, she noted.

According to its website, WTCMM has an 8,300-square-meter (sq.m.) ground level, 8,200 sq.m. of gated outdoor space, and a 1,400-sq.m. pre-function lobby.

Ms. Pascual said the company is investing in “targeted upgrades” to keep its facilities MICE-ready.

“Expanding the WTC brand in regional locations where there is a budding, if not ripe, market for MICE is also in the pipeline,” she said.

Since opening in 1996, WTCMM has hosted global events including the Asia-Pacific Economic Cooperation (APEC) Summit, the Association of Southeast Asian Nations (ASEAN) Summit, and the Southeast Asian Games. It also hosted the National Women’s Summit, where former US First Lady Hillary R. Clinton was the keynote speaker.

The venue has been used for major trade shows in Manila across sectors such as food and beverage, automotive, and construction.

Challenges, according to Ms. Pascual, include competition from other MICE venues, climate disruptions, and growing demand for sustainability.

“Our response is to double down on service quality, invest in resilience and reliability, and embed practical sustainability measures that matter to our clients, exhibitors, and buyers,” she said.

Ms. Pascual also serves as a board director of the World Trade Centers Association, which owns the World Trade Center trademark.

WTCMM is managed and partly owned by the Investment & Capital Corp. of the Philippines (ICCP), a medium-sized conglomerate with interests in investment banking, venture capital, industrial estate development, and township development. — Beatriz Marie D. Cruz

Your Mom and Dad are influencers now, too

AKI AND KOICHI — AKIANDKOICHI INSTRAGRAM

By Andreea Papuc

YOU MAY never have heard of Aki and Koichi, but this sartorial couple in their ’70s from California are a hit on social media. They are part of a wave of influencers who are going viral in their ’50s, ’60s and beyond.

After years of boomer-bashing, it’s the ultimate flex. From fashion to beauty to fitness and lifestyle, the rise of the silver content creator is sending a powerful message: Age is no barrier to having cachet.

These trendsetters are a much-needed counterpoint to the youth-obsessed, anti-aging culture whose overriding narrative has been that our worth diminishes with every passing year.

They are not only a potent spending force, due to the substantial net worth they’ve accumulated (Australia’s roughly $3 trillion pension pool is on track to become the second largest in the world), but are helping redefine what we associate with aging. With graduates finding it harder to get a job, perhaps it’s no surprise that after a long time of catering to Gen Z and millennials, brands are courting mature-age and retired digital creators with money in their pockets and huge online followers.

But more importantly, this phenomenon is providing an avenue for women — who continue to face gendered discrimination in employment (it’s extraordinary that we’re even debating whether they’ve ruined the workplace) — to reclaim their voice and visibility. That’s become urgent with the advent of AI. A recent study published in Nature found that large language models are perpetuating and intensifying harmful stereotypes about older women already pervasive online.

Many of these newly minted internet personalities are relatable. They might exude sass and confidence, as well as the savviness to parlay their passions into compelling content, but their backgrounds are decidedly normal: Before becoming online sensations, Aki and Koichi, who are grandparents, had careers in education and medicine; there are trained microbiologists and accountants. One of my favorite accounts on Instagram is Sciuraglam*, which celebrates Milan’s glamorous older women just going about their day (mostly shopping, lunching, and standing around chatting).

The trend was also on display at Paris Fashion Week, with celebrities including Helen Mirren (80), Jane Fonda (88), and Laura Dern (58) appearing on the catwalk.

This might all seem superficial — it will take more than a bunch of influencers to dismantle unconscious bias in the workplace that limits women’s career progression. But let’s not be too quick to dismiss the impact of the simple act of showing off daily outfits on Instagram, TikTok, and YouTube. As populations age and people delay retirement, these third-age influencers are restoring some relevance and legitimacy to age groups sidelined in many professions. And it signals to those born after 1980 that shaping tastes, sparking trends, and driving product interest online doesn’t have to fizzle out as the years pass; you can continue to have digital clout for decades to come.

Jane Evans, an advertising executive and entrepreneur in her ’60s, has been campaigning for years to bring visibility back to middle-aged women, frustrated by her own experience of trying to get a job after a hiatus. “I went to see a creative director and he was like ‘Jane, I’d give you a job, but you would end up at the back of the department doing the s–t that nobody else wants.’ The ageism was to my face,” Evans said on the Power of Women podcast. (Lately, Evans and Cindy Gallop, an advertising veteran and outspoken advocate for gender equality in business, have taken on the LinkedIn algorithm, urging females to change their profile gender to male, after they noticed that men consistently received greater engagement with fewer followers.)

Evans also co-authored a book — Invisible to Invaluable: Unleashing the Power of Midlife Women — that describes the stages of a woman’s life as little girl; troubled teenager; sex object; career woman; mum; old woman waiting to die. “We are taught to fear the passage of time, not celebrate it,” the authors wrote.

The latest crop of influencers are doing just that, despite the online hate and misogyny they experience.

Supermodel Paulina Porizkova, 60, who has become an outspoken advocate for aging authentically, has been open about the abuse she has received. Some just become disenchanted when social media commodifies them. Lyn Slater, who became widely known as the Accidental Icon, went viral about 10 years ago in her ’60s, when “the word influencer wasn’t used.” After the pandemic, the former professor of social welfare reassessed her life, stopped doing sponsored posts on Instagram (@iconaccidental), and now has a Substack documenting her reinvention.

Like youth, trends are fleeting and never more so than in the digital age. Some of you are glad when they are over — and, yes, this one might also fade away. But for now, it’s worth basking in its moment as we roll into a new year, and another, and another…

BLOOMBERG OPINION

*Sciura is the feminine form of sciur, which is the Lombard word for mister.

Yen stages partial recovery as BoJ hikes, intervention risks weighed

CULLEN CEDRIC-UNSPLASH

TOKYO — The yen recovered some ground on Monday following a steep drop at the end of last week as markets weighed the timing of more interest rate hikes in Japan and the possibility of intervention in thin end-of-year trading.

Bank of Japan (BoJ) policymakers debated the need to continue raising rates, a summary of opinions at their policy meeting in December showed on Monday. The euro was supported after US President Donald J. Trump signaled optimism in talks to reach a peace deal to end the war in Ukraine.

Japan has a free hand in dealing with excessive moves in the yen, Finance Minister Satsuki Katayama said last week. Those intervention warnings have helped keep a lid on dollar-yen positions, but pessimism about Japan’s currency is showing up in other foreign exchange crosses, said Bart Wakabayashi, Tokyo branch manager at State Street.

“I think a long position in yen is quite painful,” Mr. Wakabayashi said. “We’re seeing some expression of yen shorts against these currencies, particularly Aussie-yen.”

“The market is still trying to figure out what kind of role the yen plays now in terms of being a safe haven,” he added.

The yen strengthened 0.3% to 156.14 per dollar after a 0.5% slide on Friday. The yen traded at 105.02 versus the Aussie, just below the 17-month low of 105.08 that it touched on Friday.

The dollar index, which measures the greenback against a basket of currencies, was little changed at 98.03. The euro held steady at $1.1770. Sterling was a shade weaker at $1.3491.

The BoJ raised its policy rate to a 30-year high of 0.75% from 0.5% at its December meeting. The summary of opinions released on Monday showed many board members saw the need for further increases to the rate, which remained significantly negative in inflation-adjusted terms.

The rate hike failed to halt depreciation of the yen, which slid to as weak as ¥157.78 per dollar on Dec. 19, prompting intervention warnings. Japan last stepped into markets to defend its currency in July 2024, buying yen after the currency hit a 38-year low of ¥161.96.

With few data points this week and thin trading ahead of New Year’s holidays in many markets, geopolitical developments are taking center stage. President Trump said on Sunday that he and Ukrainian President Volodymyr Zelensky were “getting a lot closer, maybe very close” to an agreement to end the war in Ukraine, though both leaders acknowledged that some of the thorniest details remain unresolved.

French President Emmanuel Macron said in an X post that progress was made on security guarantees and that a “Coalition of the Willing” would meet in Paris in early January to finalize their “concrete contributions.”

Saber-rattling continued in Asia, with China positioning military units around Taiwan in preparation for live-fire drills on Tuesday. And North Korean state media said leader Kim Jong Un oversaw the launch of long-range missiles on Sunday, with South Korea’s Yonhap reporting that more tests could occur around New Year’s Day.

The main data focus this week will be Tuesday’s release of minutes from the Federal Open Market Committee’s meeting earlier this month. The US central bank cut rates at the gathering and projected just one more reduction for next year, but traders have priced in at least two more.

The Australian dollar was little changed at $0.6717. New Zealand’s kiwi weakened 0.2% to $0.582.

In cryptocurrencies, bitcoin jumped 2.2% to $89,463.23, while ether rose 2.6% to $3,012.41. — Reuters

Brigitte Bardot, icon of French cinema, 91

Brigitte Bardot in a scene from the 1960 film The Truth.

PARIS — Actress Brigitte Bardot shot to international fame dancing the mambo barefoot in And God Created Woman, her tousled hair and fierce energy radiating a sexual magnetism rarely before seen in mainstream cinema.

A global icon was born.

At just 21, she scandalized censors and captivated audiences. Her free-spirited performance in the 1956 film, shot by her husband Roger Vadim, marked a decisive break from the demure heroines of the previous era.

Brigitte Bardot, often referred to in France simply as “B.B.” and whose later years were marked by animal rights campaigns and far-right political sympathies, has died at the age of 91, her foundation said on Sunday. The cause was not immediately known.

“Her films, her voice, her dazzling fame, her initials, her sorrows, her generous passion for animals, her face that became Marianne — Brigitte Bardot embodied a life of freedom. A French existence, a universal radiance. She moved us. We mourn a legend of the century,” said French President Emmanuel Macron, referring to the fact that Ms. Bardot’s face was used as the model for an official bust of Marianne, an allegorical female figure who symbolizes the values of the French Republic, which was installed in town halls across the country from the late 1960s onward.

‘SHE FOLLOWS HER INCLINATIONS’
Born in Paris on Sept. 28, 1934, Ms. Bardot grew up in an upper-middle-class household. She described herself as a shy, self-conscious child who “wore spectacles and had lank hair.”

By 15, however, she graced the cover of Elle magazine, launching a modelling career that soon led to film.

Ms. Bardot’s character in And God Created Woman was the embodiment of liberated femininity. The controversy only fueled her appeal. Ms. Bardot became a symbol of 1950s and ’60s France.

Her allure extended far beyond French cinema. At 15, Bob Dylan is said to have written his first song about her, the never-released “Song for Brigitte,” while Andy Warhol painted her portrait.

Ms. Bardot’s ability to subvert traditional gender roles made her not just a sex symbol, but a pop culture icon and a touchstone for shifting social attitudes.

In 1959, Simone de Beauvoir penned an article for Esquire magazine in which she lionized Ms. Bardot’s conspicuous sense of freedom. “B.B. does not try to scandalize,” the feminist philosopher wrote. “She follows her inclinations. She eats when she is hungry and makes love with the same unceremonious simplicity.

“Moral lapses can be corrected, but how could B.B. be cured of that dazzling virtue — genuineness? It is her very substance.”

Ms. De Beauvoir concluded: “I hope she will mature, but not change.”

‘I’VE BEEN LET DOWN TOO OFTEN’
Despite her influence, Ms. Bardot found celebrity life isolating. She often spoke of being a prisoner of her own fame, unable to enjoy life’s simple pleasures.

“Nobody can imagine how horrific it was, such an ordeal,” she reflected decades later. “I couldn’t go on living like that.”

Her personal life was shaped by four marriages, widely reported affairs, and well-documented struggles with depression.

On her 26th birthday she was found unconscious at a house on the French Riviera after trying to take her own life. Rumors of another attempted suicide surfaced years later when she mysteriously canceled a 49th birthday party then appeared in hospital.

Alongside her acting, Ms. Bardot enjoyed a successful music career. Her collaborations with singer-songwriter Serge Gainsbourg, including the erotic “Je t’aime … moi non plus” (“I Love You … Neither Do I”), drew both acclaim and controversy.

In the late 1960s she modeled for a bust of Marianne, the personification of the French Republic.

But she found little satisfaction in the praise she garnered.

“I have been very happy, very rich, very beautiful, much adulated, very famous and very unhappy,” she told the magazine Paris Match around the time of her 50th birthday. “I’ve been let down too often. I’ve had really terrible disappointments in my life. That is why I’ve chosen to withdraw, to live alone.”

‘THIS IS MY ONLY BATTLE’
Ms. Bardot made the last of her 42 films in 1973. Disenchanted with the industry, she declared the world of cinema “rotten” and left public life.

“I will have given 20 years of my life to cinema, that’s enough,” she said in a TV interview at the time.

She settled in the fashionable French resort of Saint-Tropez, where she found solace among animals and the Mediterranean landscape.

There, she began a passionate defense of animal welfare. “This is my only battle, the only direction I want to give my life,” Ms. Bardot said in 2013.

Her devotion to animals became legendary. In 1986, she established the Brigitte Bardot Foundation for the Welfare and Protection of Animals, auctioning off personal souvenirs the following year to raise funds for her cause.

Ms. Bardot supported high-profile activists, such as anti-whaling campaigner Paul Watson, and campaigned vigorously against animal cruelty, at times threatening to leave France over animal welfare disputes.

When actor Gérard Depardieu accepted Russian citizenship after a public spat with French authorities, in 2013, Ms. Bardot threatened to follow suit if France euthanized two sick circus elephants.

For much of the latter part of her life, Ms. Bardot lived alone behind high walls in Saint-Tropez, surrounded by a menagerie of cats, dogs, and horses.

This passion, she often suggested, was an antidote to her disappointing relationships. “I gave my beauty and my youth to men,” she once said. “I am going to give my wisdom and experience to animals.”

“From her rescued pigeons in Saint-Tropez to her beloved dogs, PETA will miss Brigitte, an angel for animals who went to bat and to court to protect them all,” said Ingrid Newkirk, founder of People for the Ethical Treatment of Animals or PETA.

‘FEMINISM ISN’T MY THING’
As her advocacy intensified, so too did the backlash to her political statements.

Ms. Bardot’s public remarks on immigration, Islam, and homosexuality led to a string of convictions for inciting racial hatred.

Between 1997 and 2008, she was fined six times by French courts for her comments, particularly those targeting France’s Muslim community.

In one case, a Paris court fined her €15,000 ($17,000) for describing Muslims as “this population that is destroying us, destroying our country by imposing its acts.”

In 1992, she married Bernard d’Ormale, a former adviser to the far-right National Front, and later publicly endorsed the party’s successive leaders, Jean-Marie Le Pen and his daughter Marine Le Pen. Ms. Bardot called the latter “the Joan of Arc of the 21st century.”

Yet, for all her polarizing views, Ms. Bardot’s influence endured, whether in fashion — with media noting regular comebacks of her trademark hairstyle — or through regular documentaries and coffee‑table books celebrating her rare impact on French cinema.

Asked by French channel BFM TV in May 2025 if she considered herself a symbol of the sexual revolution, she said: “No, because before me, plenty of wild things had already happened — they didn’t wait for me. Feminism isn’t my thing; I like men.”

In the same interview, she was asked how often she reflected on her film career. “I don’t think about it,” she said, “but I don’t reject it, because it’s thanks to it that I’m known everywhere in the world as someone who defends animals.” Reuters

How PSEi member stocks performed — December 29, 2025

Here’s a quick glance at how PSEi stocks fared on Monday, December 29, 2025.


Philippines’ fight against illegal fishing improves

The Philippines improved one spot to 54th out of 152 coastal countries (from worst to best) in the 2025 edition of the biennial Illegal, Unreported and Unregulated (IUU) Fishing Index by the Global Initiative Against Transnational Organized Crime. This put the Philippines as the fourth best performing country among its peers in Asia. With scores ranging from 1 to 5, where 1 is best, the Philippines had an overall score of 2.34, worse than the world average of 2.27, but better than Asia’s overall score of 2.55. The index assesses the likelihood that countries are exposed to and effectively combat IUU fishing.

NFL Week 17: Eagles hold off Bills’ surge to give Pats AFC East crown

PHILADELPHIA EAGLES linebackers Jaelan Phillips (50), Zack Baun (53) and safety Reed Blankenship (32) tackle Buffalo Bills running back Ray Davis (22) during the third quarter. — REUTERS/IMAGN IMAGES/GREGORY FISHER

JAKE ELLIOTT kicked two field goals and the Philadelphia Eagles held off a frantic Buffalo rally to squeak out a 13-12 win over the Bills on Sunday at Orchard Park, New York.

Buffalo scored 12 straight fourth-quarter points, but after Jalen Carter blocked the extra point on its first touchdown (TD), Josh Allen’s two-point conversion throw to Khalil Shakir was off the mark with five seconds remaining. The Eagles (11-5) recovered the ensuing onside kick in a contest played in heavy rain to snap the Bills’ (11-5) streak of five straight AFC East titles.

Jalen Hurts misfired on all seven of his second-half pass attempts while finishing 13 of 27 for 110 yards and a touchdown pass to Dallas Goedert. Jihaad Campbell had a key first-quarter fumble recovery and Zack Baun had a critical fourth-and-goal stop for Philadelphia, which gained just 190 yards of offense.

Allen completed 23 of 35 passes for 262 yards and also rushed for both Buffalo touchdowns — including one on fourth-and-goal in the closing seconds — despite consistently hobbling because of his right foot injury.

PATRIOTS 42, JETS 10
Drake Maye completed 19 of 21 passes for 256 yards and five touchdowns to lead New England past New York in East Rutherford, New Jersey. Coupled with Buffalo’s 13-12 loss to Philadelphia later in the day, the Patriots clinched the AFC East crown for the first time since 2019.

Maye completed his first 11 attempts and tossed TD passes to tight end Austin Hooper (2 yards), running back Rhamondre Stevenson (22 yards), wide receiver Stefon Diggs (3 yards), tight end Hunter Henry (13 yards) and wide receiver Efton Chism (10 yards). It was Chism’s first NFL touchdown.

Maye, who was pulled in the third quarter after his fifth TD pass, became the fourth Patriots quarterback to pass for at least five touchdowns in a game, joining Tom Brady, Steve Grogan and Babe Parilli. Stevenson also scored on a 1-yard run to help the Patriots (13-3) improve their road record to 8-0. Breece Hall scored the only touchdown for the Jets (3-13) on a 59-yard run.

BROWNS 13, STEELERS 6
Host Cleveland made a defensive stand at its own 7-yard line and snapped a four-game losing streak to keep Pittsburgh from claiming the AFC North title.

The Steelers (9-7) went four-and-out to give the ball back to Cleveland at the two-minute warning. Andre Szmyt’s 33-yard field goal soon made it 13-6 Browns. Aaron Rodgers (21 of 39 for 168 yards) then drove Pittsburgh to the seven, but three straight incompletions handed the Browns (4-12) their first win in the division in five tries.

Shedeur Sanders went 17 for 23 for 186 yards, one TD and two interceptions but put the only TD on the board in the first quarter. Meanwhile, the Steelers will play the Baltimore Ravens next week with the winner claiming the AFC North title.

SAINTS 34, TITANS 26
Rookie Tyler Shough passed for a season-high 333 yards and two touchdowns and New Orleans won its fourth consecutive game, defeating Tennessee in Nashville, Tennessee.

Shough completed 22 of 27 passes and one of his touchdowns went to Chris Olave, who finished with eight catches for 119 yards. Juwan Johnson added four catches for a career-high 95 yards as the Saints (6-10) improved to 5-3 with Shough as a starter.

Cam Ward had his fourth consecutive two-touchdown game, passing for 251 yards for the Titans (3-13). Titans Pro Bowl receiver/return specialist Chimere Dike set an NFL rookie record for all-purpose yards, surpassing the 2,317 yards that Tim Brown had with the Raiders in 1988.

JAGUARS 23, COLTS 17
Trevor Lawrence rushed for two touchdowns and threw for 263 yards to help visiting Jacksonville come away with a win over Indianapolis.

An interception by Jarrian Jones midway through the fourth quarter — his second in as many weeks — set up Cam Little for what became a game-winning 42-yard field goal with 6:58 left to help Jacksonville (12-4) win its seventh straight game and move to the brink of clinching the AFC South. They can do so in Week 18 with a win over Tennessee or a Houston loss to Indianapolis.

The Colts (8-8) sustained their sixth straight loss after they were eliminated from playoff contention with Houston’s win on Saturday. Philip Rivers completed 17 of 30 passes for 147 yards, a touchdown and an interception. Jonathan Taylor added 70 yards and a score on 21 carries.

DOLPHINS 20, BUCCANEERS 17
Miami rookie quarterback Quinn Ewers threw the first two touchdown passes of his career and the defense forced three turnovers to lead the team to a 20-17 victory over Tampa Bay on Sunday afternoon at Miami Gardens, Florida.

Ewers completed 14 of 22 passes for 172 yards and no interceptions and finished with a 118 passer rating in his second career start after replacing Tua Tagovailoa. The Dolphins’ (7-9) defense forced a pair of fourth-quarter turnovers to narrowly protect a 10-point fourth-quarter lead.

Bucs quarterback Baker Mayfield completed 33 of 44 passes for 346 yards and two touchdowns, but threw a pair of costly interceptions and lost a fumble. Tampa Bay (7-9) lost its fourth game in a row but was not eliminated since Seattle beat Carolina on Sunday. The Buccaneers will have one final chance to make the playoffs if they can beat Carolina at home next week and thereby clinch the NFC South.

BENGALS 37, CARDINALS 14
Ja’Marr Chase made NFL history and broke a seven-game touchdown drought to lead host Cincinnati to a second straight blowout win, beating Arizona.

Chase finished with seven catches for 60 yards and two touchdowns, giving him seven touchdowns for the season. In the process, Chase became the first receiver in NFL history with at least 80 catches, 1,000 yards and seven touchdown receptions in each of his first five seasons. Chase Brown ran for 101 yards and a pair of touchdowns and Joe Burrow completed 24 of 31 passes for 305 yards and two touchdowns for the Bengals (6-10).

Jacoby Brissett completed 21 of 37 passes for 212 yards and two touchdowns for the Cardinals (3-13), who dropped their eighth straight game. Arizona tight end Trey McBride finished with 10 catches for 76 yards and a touchdown. He now has 119 catches, the most by a tight end in a single season in NFL history and became the first tight end in NFL history with at least 110 catches in multiple seasons.

SEAHAWKS 27, PANTHERS 10
Zach Charbonnet rushed for a season-high 110 yards and two touchdowns and the Seattle defense was dominant against Carolina in Charlotte, North Carolina.

The NFC West-leading Seahawks (13-3), who limited the Panthers to 139 yards of total offense, won their sixth consecutive game and improved to 7-1 on the road. Sam Darnold completed 18 of 27 passes for 147 yards with one touchdown and one interception. Jaxon Smith-Njigba had nine catches for 72 yards.

Bryce Young completed 14 of 24 passes for only 54 yards with one interception for Carolina (8-8), which leads the NFC South but will need to win at Tampa Bay in order to end its seven-year playoff drought. Rico Dowdle rushed for 59 yards on 12 carries.

GIANTS 34, RAIDERS 10
Jaxson Dart passed for 207 yards and ran for two touchdowns as New York earned a victory over host Las Vegas in a meeting of teams with the two worst records in the NFL.

Devin Singletary ran for a first-quarter touchdown and Dart added rushing TDs in the second and fourth quarters as the Giants (3-13) won the first game between teams with dueling nine-game losing streaks. Deonte Banks had a 95-yard kickoff return for a touchdown.

Geno Smith threw for 176 yards and a touchdown for the Raiders (2-14) before he departed with an ankle injury early in the fourth quarter. Smith completed 20 of 28 passes with one touchdown and two interceptions as Las Vegas gained the inside track for the No. 1 draft pick in 2026. — Reuters

Kyrgios beats Sabalenka in ‘Battle of the Sexes’

ARYNA SABALENKA (right) and Nick Kyrgios during the ‘Battle of the Sexes’ exhibition match. — REUTERS/PA

DUBAI — Nick Kyrgios beat Aryna Sabalenka, 6‑3, 6‑3 on Sunday in a “Battle of the Sexes” exhibition match billed as a modern take on Billie Jean King’s famous win over Bobby Riggs over 50 years ago, but one that ignited controversy over its relevance and meaning.

The clash between four-time Grand Slam champion Sabalenka and former world number 13 Kyrgios was billed as entertainment but critics warned that it risked reducing women’s tennis to a sideshow and trivializing its progress toward equality.

The match that gave the event its name was the 1973 “Battle of the Sexes” when women’s tennis pioneer King beat 55-year-old former Grand Slam winner Riggs, who had said that the standard of women’s tennis could never match that of the men’s game.

King told the BBC that although this year’s clash carried the same tagline, it lacked the stakes of her showdown with Riggs, a contest she described as a fight for social change in a vastly different cultural era.

“I don’t think many people would have put their hand up to be in this position, especially in my position,” Kyrgios said.

“Obviously, Aryna was up for the challenge. The scoreline was closer than it was. I was under the pump there… and then anything happens once the crowd gets behind it. I was nervous.”

Playing in front of a sold-out crowd at Dubai’s Coca-Cola Arena, Kyrgios negotiated the slightly smaller “equalizer” court on women’s world number one Sabalenka’s side to secure victory after an entertaining contest played under modified rules.

With a one-serve-per-point rule in effect, both players faltered on their deliveries in crucial moments before Kyrgios broke for a 4-3 lead and went on to take the opening set.

The maverick Australian was drenched in sweat and appeared out of breath in the second set after going 1-3 down, while his opponent danced to the music during a strategic timeout, but he persevered to make it 3-3 after Sabalenka sent a shot long.

Unlike Riggs, who had long retired from the men’s tour when he took on fellow American King, Kyrgios is an active player on the ATP Tour even though his recent seasons have been blighted by a succession of wrist and knee injuries.

The former Wimbledon runner-up, a major draw on and off the court with his natural talent and charisma, managed only five professional singles matches in 2025.

‘GREAT OPPORTUNITY’

“It was a really tough match,” Kyrgios added.

“She’s a hell of a competitor and such a great champion. Obviously, she’s a multiple Grand Slam champion. And I didn’t really know what to expect.

“As I said before this whole event, whatever role I was to play, it was another great opportunity to go out here. She broke my serve numerous times. And honestly, I had to strap it because she was putting the pressure on; hitting amazing shots. I would love to play her again and showcase her talent and also what I have left in the tank. Ultimately, it was a really hard-fought battle and there were breaks back and forth.

“Seeing someone as great as Aryna out here, and myself, it truly is a spectacle and I think this is a great moving stepping stone forward for the sport of tennis.”

Kyrgios, who shortened the points with cheeky drop shots and used variations on his serve to good effect, pulled away and sealed the victory on serve before sharing a warm embrace with Belarusian Sabalenka at the net.

“I think I put on a great fight,” Sabalenka said.

“He was struggling. He got really tight. I’m happy to see that the guy is getting tight and (after) taking away one of my serves. I think it was a great level.

“I made a lot of great shots, moved a lot to the net… great drop shots, Nick, great serving. I really enjoyed the show and I feel like the next time when I play him, I already know the tactics. I know his strengths, his weaknesses, and it’s going to be a better match for sure.” — Reuters

Thunder halt 2-game skid with huge 2nd half vs Sixers

CHET HOLMGREN scored 29 points to lead the Oklahoma City Thunder to a 129-104 home win over the Philadelphia 76ers on Sunday.

The win snapped the Thunder’s two-game skid, their first losing streak of the season.

It was also Oklahoma City’s 23rd consecutive regular-season victory over an Eastern Conference opponent.

After a back-and-forth first half, the Thunder took control after halftime, outscoring the 76ers, 65-42 to deal Philadelphia its third consecutive loss.

Shai Gilgeous-Alexander added 27 points and five assists with just one turnover while Aaron Wiggins scored 15 off the bench and starter Jalen Williams added 14.

The 76ers were without Joel Embiid, who missed the game with a right ankle sprain and right knee injury management. Embiid had played in the previous two games.

The Thunder were up two at halftime and the game remained tight until an 11-0 run midway through the third that started with Holmgren’s 3-pointer and wrapped up with Gilgeous-Alexander’s driving layup.

The 76ers, who had been hot from the field as both teams were on fire offensively early, missed six consecutive shots during the run.

Tyrese Maxey led Philadelphia with 28 points, but 15 came in the first quarter and just five came in the second half. No other 76ers player finished with more than 13 points. Maxey and VJ Edgecombe combined to go just three of 16 from the field after halftime.

Without Embiid, the 76ers struggled to defend near the basket. Oklahoma City outscored Philadelphia, 72-34 in the paint.

The Thunder shot 57.5% from the field, led by Holmgren (12 of 17) and Gilgeous-Alexander (10 of 13).

Holmgren added a game-high nine rebounds and four blocks.

Oklahoma City had lost four of six, three of those to San Antonio.

The game was the second in a five-game road trip for Philadelphia.

RAPTORS TOP WARRIORS IN OT
Scottie Barnes recorded his seventh career triple-double on Sunday, and the Toronto Raptors dominated overtime (OT) to defeat the visiting Golden State Warriors, 141-127.

Barnes had 23 points, a career-best 25 rebounds and 10 assists to help Toronto rally from a 13-point third-quarter deficit. It was the first 20-20 triple-double ever recorded by a Raptor.

Toronto scored the first 10 points of overtime in winning the opener of a five-game homestand.

Brandon Ingram scored 26 points for the Raptors. RJ Barrett contributed 12 points on his return after missing 15 games with a sprained right knee. Immanuel Quickley scored 27 points. Ja’Kobe Walter had 18 points, Sandro Mamukelashvili scored 13 points and Ochai Agbaji scored 10.

Stephen Curry scored 39 points for the Warriors, who had a three-game winning streak end in the opener of a three-game road trip. — Reuters