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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

Cristiano Ronaldo confident of reaching target of 1,000 goals, keen to keep playing

CRISTIANO RONALDO said his passion for the game remains undimmed and that he is still motivated to reach his target of 1,000 career goals after the Portuguese forward was named Best Middle East Player at the Globe Soccer Awards in Dubai on Sunday.

Ronaldo’s double for Saudi side Al-Nassr on Saturday took his tally to 956 goals for club and country, and with the 40-year-old set to play on for “one or two more years” his target looks achievable.

“It’s hard to continue playing, but I am motivated,” he said after receiving the award for the second consecutive year.

“My passion is high and I want to continue. It doesn’t matter where I play, whether in the Middle East or Europe. I always enjoy playing football and I want to keep going.

“You know what my goal is. I want to win trophies and I want to reach that number (1,000 goals) that you all know. I will reach the number for sure, if no injuries.” — Reuters

PHL tax system seen benefiting from AI audits, lower CTA fees

FREEPIK

By Aubrey Rose A. Inosante, Reporter

THE GOVERNMENT has been urged to harness artificial intelligence (AI) to overhaul the tax audit system and lower Court of Tax Appeals (CTA) filing fees.

Raymond Abrea, chairman and chief executive officer of the Asian Consulting Group, said the Bureau of Internal Revenue’s (BIR) recent audit reset should shift to a technology-driven approach that protects honest taxpayers while deterring corrupt actors.

“This audit reset is a welcome development, but real reform requires an AI-driven, risk-based audit that targets high-risk taxpayers — especially corrupt politicians and government contractors — while protecting compliant taxpayers and restoring trust in the system,” Mr. Abrea said in a statement on Monday.

BIR Commissioner Charlito Martin R. Mendoza recently ordered the suspension of field audits, following complaints from business groups over alleged extortion linked to letters of authority.

At the same time, Finance Secretary Frederick D. Go proposed creating a centralized digital platform to check the authenticity of these documents, alongside restricting the number of BIR offices authorized to issue them, as part of broader efforts to tighten oversight and prevent misuse.

Eleanor L. Roque, tax principal at P&A Grant Thornton, called for the lowering of CTA filing fees, warning that the current system can open the door to corruption.

“If the amount assessed is unreasonably huge, the BIR examiner already has the leverage. They can inform the taxpayers to just pay the BIR personnel instead of paying the CTA filing fees,” she said via Viber. 

Ms. Roque said the filing fees, which are based on the amount assessed by the BIR, pose a “huge roadblock for taxpayers wanting to exercise their rights.”

She also argued against BIR regulations and circulars that create gray areas, which examiners may exploit to justify unreasonable assessments.

“Even if the taxpayers have valid defenses, the only route is through the CTA which is expensive and time-consuming. Hence, instead of protesting the assessment, the taxpayer becomes victim of extortion just to decrease the tax payable,” she said.

Ms. Roque noted that while stories of extortion hounded the agency, only a few BIR personnel have been jailed for such offenses.

“The BIR can look at highlighting what they are doing in punishing the abusive examiners who issue jeopardy assessments. This will send a good signal to the taxpayers that BIR is no longer tolerating this practice,” she said.

PSE index closes lower on last-minute selling

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

THE MAIN INDEX ended lower on Monday — the last trading day of 2025 — on last-minute selling as investors positioned before the holiday break, with most players also preferring to stay on the sidelines as they remain cautious on the Philippine economy’s prospects.

The bellwether Philippine Stock Exchange index (PSEi) went down by 0.21% or 12.72 points to end at 6,052.92. Meanwhile, the broader all shares index increased by 0.24% or 8.58 points to 3,473.24.

Year on year, the stock benchmark went down by 7.29% or 475.87 points from its end-2024 finish of 6,528.79.

“The benchmark index ended the year on a negative note amid holiday-thinned trading, with the last session for 2025 dropping to 6,052.92 for a year-to-date loss of 7.29%,” China Bank Capital Corp. Managing Director Juan Paolo E. Colet said in a Viber message. “This caps the most challenging trading year since the pandemic crash of 2020 as the index underperformed most analysts’ initial base case targets and also relative to other regional stock markets. Foreign investors were net sellers by around P51 billion for the year due to a mix of trade, economic, and governance concerns.”

“Philippine equities closed the year with a last-minute sell-off as investors cashed out early, effectively switching to a wait-and-see stance ahead of 2026 as fresh leads are nowhere to be found,” AP Securities, Inc. said in a market note.

Philstocks Financial, Inc. said in a market note that the PSEi was in the green for most of the day on bargain hunting.

“However, last-minute selling sent the market lower. Investors’ cautiousness prevailed amid the lingering uncertainties over the local economy’s outlook in 2026,” it added.

The PSEi opened Monday’s session at 6,073.90, higher than Friday’s close of 6,065.64. It climbed to an intraday high of 6,100.71, a near two-week peak for the benchmark, but selling pressure caused it to close at its low for the session.

Most sectoral indices closed in the red. Mining and oil went down by 1.16% or 177.83 points to 15,059.80; property dropped by 1.08% or 24.86 points to 2,276.14; financials decreased by 0.88% or 18.21 points to 2,048.47; and services fell by 0.13% or 3.18 points to close at 2,378.54.

Meanwhile, holding firms went up by 1.09% or 51.62 points to 4,787.66, and industrials rose by 0.43% or 37.61 points to 8,620.59.

“Alliance Global Group, Inc. was the day’s index leader, jumping 6.36% to P8.19. SM Prime Holdings, Inc. was the worst index performer, dropping 3.6% to P22.75,” Philstocks Financial said.

Advancers outnumbered decliners, 139 to 75, while 56 names closed unchanged.

Value turnover rose to P4.29 billion on Monday with 727.82 million shares traded from P2.77 billion with 1.04 billion issues that changed hands on Friday.

Net foreign selling increased to P168.74 million from P34.57 million. — A.G.C. Magno

124 projects added to PPP pipeline led by school-construction program

Students walk inside the campus of a high school in Quezon City, April 18, 2024. — REUTERS

THE GOVERNMENT added 124 projects to its public-private partnership (PPP) pipeline since December 2024, bringing the total to 251, valued at P2.81 trillion.

In a statement on Monday, the PPP Center said the overall pipeline consisted of 166 national projects and 85 local projects.

Of the 251 projects, 194 were solicited and 57 unsolicited.

The additional projects include the PPP for School Infrastructure Project (PSIP) Phases IV and V, and PSIP Connect, both of which address classroom shortages and enhance digital readiness in public schools, it said.

The PPP Center noted that the full implementation of the PPP Code took effect in 2025, following its passage in December 2023.

“The country is already seeing the impact, with a growing number of implementing agencies, especially local government units (LGUs) initiating projects,” it said.

The PPP Center said it received more unsolicited private-sector proposals from non-traditional industries such as information and communication, energy, property, and health.

At the same time, project review, approval, and award timelines have also accelerated.

The PPP Center said 13 projects were awarded this year — 11 of which were local and two national.

These include the National Single Window, implemented through the Integrated Trade Facilitation Platform Project, which aims to streamline and digitize import, export, and trade-related regulatory processes.

Other awarded projects included the Bataan Single Ticketing System, the South Luzon Integrated Terminal Exchange, the Mangatarem Water Supply System in Pangasinan, and the Palayan City Hospital PPP project in Nueva Ecija.

As such, the number of PPP projects under implementation and monitoring rose to 288, comprising 184 national and 104 local projects.

As of Dec. 21, the PPP Center said it had received a total of 98 proposals from the private sector, of which 31 are complete and endorsed to implementing agencies for detailed evaluation.

The Project Development and Monitoring Facility (PDMF) Committee approved projects for advisory support, including the Operation and Maintenance of Panguil Bay Bridge Project for the Department of Public Works and Highways, PSIP Connect, PSIP Phases IV and V of the Department of Education, and the Fuel Marking Program PPP and the Cross-Border Electronic Invoicing projects.

PDMF-supported projects that completed their pre-feasibility studies this year were the North Integrated Transport System, Mindanao Railway Phase III, and San Mateo Railway Project.

These projects will soon proceed to the feasibility study stage, moving them closer to implementation, the PPP Center said. — Aubrey Rose A. Inosante

P1.5B allocated for Basco port upgrades

ARMY.MIL

THE Philippine Ports Authority (PPA) is investing nearly P1.5 billion to build a new port and upgrade existing facilities in Basco, Batanes. 

In a bid notice, the regulator invited interested parties for the P698.46-million new port development project in San Joaquin, Basco; and P706.69-million port upgrade and rehabilitation of the current Basco port.

According to the bid invitation, interested parties have until Jan. 27 to submit proposals for the new port development project.

It said that the winning contractor will be given 900 calendar days from the receipt of the award to complete the project, which includes construction of the port operational area and reinforced concrete pier.

Bidders can also submit proposals for the Basco port improvement and rehabilitation project until Jan. 27, the PPA said, noting that interested parties must have completed a similar project to qualify for the bidding.

Basco port serves as the gateway for trade, tourism and connectivity in Batanes province, the PPA said.

The PPA said cargo and passenger traffic this year have been stronger than expected, with targets expected to be exceeded when demand peaks in the fourth quarter.

The regulator is targeting cargo throughput of 301.47 million metric tons, while container volume is anticipated to top eight million twenty-foot equivalent units by year’s end.

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.

For this year, the PPA expects to complete at least four port projects valued at a combined P1.56 billion. These include the P426.18-million Salomague Port expansion project in Cabugao, Ilocos Sur; the P155.96-million San Andres, Quezon port expansion and improvement project; the upgrade of the Banago, Negros Occidental port; and the expansion of Cagayan de Oro’s Balingoan Port. — Ashley Erika O. Jose

PHL, UAE economic partnership deal set for signing in January

REUTERS

THE PHILIPPINES and the United Arab Emirates (UAE) are due to sign a Comprehensive Economic Partnership Agreement (CEPA) in January, the Department of Trade and Industry (DTI) said.

Trade Secretary Ma. Cristina A. Roque told reporters that a Philippine delegation, led by President Ferdinand R. Marcos, Jr., will travel to the UAE in mid-January to sign the CEPA, which would be the Philippines’ first free-trade agreement (FTA) with a Middle Eastern country.

She added that the delegation will also arrange meetings with UAE companies to attract investments, particularly in manufacturing.

“Usually, when we go there, we always try to do other activities. We really want (to attract) manufacturing,” Ms. Roque said.

The UAE is the Philippines’ 18th largest trading partner and its top export market within the Gulf Cooperation Council. The Philippines’ major exports to the UAE include electrical equipment, food products, iron and steel, mineral fuels, and machinery.

The CEPA, for which negotiations started in 2022, is expected to expand market access and encourage more UAE companies to invest in the Philippines.

Aside from the UAE, the Philippines is also looking to conclude free trade agreements (FTAs) with Chile and the European Union (EU) next year.

“I worked on the EU FTA when I spoke to the EU trade minister in Davos in January. We had a good conversation, so we can really proceed,” Ms. Roque said.

Ms. Roque added that the President supports the government’s push to pursue more FTAs to lower tariffs on Philippine goods and improve global competitiveness. — Vonn Andrei E. Villamiel

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