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Francis Libiran designs for OUR HOME

Our Home proudly collaborates with renowned fashion designer Francis Libiran for his debut home collection. This remarkable partnership bridges the worlds of couture and interiors, offering a collection that reimagines celebrated style as functional art.

OUR HOME proudly announces its exciting collaboration with renowned fashion designer Francis Libiran for his debut home collection. Known for crafting pieces that balance beauty and functionality, OUR HOME serves as the perfect platform for Libiran’s unparalleled artistry to extend into the world of interiors. This exclusive collection epitomizes sophistication, practicality, and the distinct style that has made Francis Libiran a name synonymous with elegance.

“This partnership is a heartfelt tribute to the people who have shaped my life, with each piece telling its own unique story,” says Francis Libiran.

A graduate of Architecture, Libiran expresses his gratitude for this collaboration, stating, “I am thrilled to work with OUR HOME, a brand that aligns with my vision of blending art and functionality. This collection allows me to showcase my creativity not just in fashion but in crafting spaces that embody beauty and meaning. A true Filipino home is not merely defined by its structure but by the warmth and cultural touches that reflect our heritage and the love shared by the family within.”

This partnership seamlessly marries Libiran’s signature design sensibility with OUR HOME’s trusted reputation for curating elegant and contemporary home pieces. Francis Libiran’s debut into home design bridges the worlds of couture and interiors, offering a collection that transforms celebrated style into functional art. Homeowners can now infuse their spaces with the same elegance that graces the runway.

Libiran’s collection goes beyond décor; it’s an invitation to create spaces that reflect beauty, serenity, and individuality. From statement accent chairs to plush cushions and delicately crafted candles and scents, each piece is thoughtfully designed to inspire and elevate home living. True to his artistry, the collection features Francis Libiran’s signature elements: intricate details, timeless appeal, and impeccable craftsmanship — each piece telling a story of elegance, creativity, and joy.

A centerpiece of the collection is the six (6) accent chairs, each inspired by people close to Libiran’s heart. Combining comfort and style, these chairs create sophisticated focal points for any room and are crafted in timeless color palettes using premium materials. Complementing the chairs are soft, stylish cushions adorned with intricate patterns and textures, adding subtle elegance to any space. The collection also includes scents and candles that evoke tranquility and luxury, transforming spaces into serene retreats while embodying Libiran’s refined aesthetic with subtle fragrances and sleek designs.

This exclusive collection is a testament to Francis Libiran’s dedication to artistry and OUR HOME’s commitment to helping customers create beautiful, meaningful spaces. Together, they invite you to experience the perfect fusion of couture and interiors, where every piece tells a story and every home becomes a masterpiece.

The Francis Libiran Home Collection is available exclusively at OUR HOME stores and online in limited quantities. Only at OUR HOME — Great Designs, Great Prices!

Visit any of the 33 OUR HOME stores nationwide (www.ourhome.ph/pages/branches), shop at our website, www.ourhome.ph or contact our Call-to-Deliver hotline at 0917-831-5260.

About FRANCIS LIBIRAN

Francis Libiran is an architect and fashion designer. He is one of the Philippines’ most celebrated fashion designers, known for his innovative use of intricate patterns, clean lines, and timeless elegance. With a career spanning decades and a clientele that includes international celebrities, his designs have graced runways, red carpets, and editorials worldwide. A distinguished Filipino fashion designer, Libiran is renowned for his exquisite craftsmanship, attention to detail, and innovative designs that have captivated audiences both locally and globally. His unique blend of modern aesthetics with traditional Filipino elements has set him apart as a trailblazer in the world of fashion. The Francis Libiran for Our Home Collection marks his first venture into interior design, bringing his artistic vision into living spaces.

About OUR HOME

Since opening its doors in 1997, OUR HOME has been a trusted name in modern home furnishings and decor, offering carefully curated collections of contemporary furniture, home accents, and accessories to help customers create their dream spaces. With a commitment to great designs, affordable prices, and exceptional service, OUR HOME continues to elevate the shopping experience through innovative solutions like online shopping, personal shopper services, and expert interior design advice. The partnership with Francis Libiran highlights OUR HOME’s dedication to collaborating with visionary artists to bring exclusive and world-class designs to Filipino homes.

 

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OFW from Bicol gets dream home; Camille Villar vows to champion OFW rights, welfare

A dream come true. Camille Villar hands over the ceremonial key to Angelica Abellano and her family, marking the beginning of their new chapter in Camella Pili, Camarines Sur.

Camille Villar turned over on Tuesday the house and lot won by 26-year-old overseas Filipino worker (OFW) Angelica Abellano during simple ceremonies in Camella Pili, Camarines Sur.

A former BPO call center agent before working as a teacher in Taiwan, Abellano was very grateful when she and her family toured their new home for the first time.

“Nandito na po, nakita ko na po finally yung bahay. Wala pong mapaglagyan yung kasiyahan ko kasi wala palang imposible. Dahil po kay Ma’am Camille, ginawa niyang posible yung isang pangarap na sa tingin ko po ay ilang taon ko pong pagsisikapan,” said Abellano, fourth among eight siblings.

“Ginawa pong magic ni Ma’am Camille,” she said, referring to how Camille was instrumental in making her dream come true.

A new beginning. Angelica walks into her new Camella home, surrounded by her proud and grateful family, as they embrace this life-changing blessing with excitement and joy.

For decades, Abellano and her family lived in a modest home owned by a relative in their hometown. Winning the Camella house was a life-changing blessing for them.

“‘Ito na yung bunga ng sacrifice mo sa family‘, sabi ng papa ko. Gusto ko po mag-thank you dahil ginawa siyang instrument ni Lord pa maisakatuparan ang pangarap ko, kung bakit ako nasa ibang bansa. Sobrang thankful po ako,” she said, referring to Camille Villar.

Abellano’s father is a farmer while her mother sells rice cakes to augment the family income.

“Itong bahay po para sa family ko, hindi na po kami matutulog sa lapag. Hindi na po namin mararanasan na pag umuulan, kailangan maglagay ng balde o tabo kung saan-saan… May concrete na pong bahay kung saan mag-create kami ng new memories,” Abellano added.

Tears of joy, smiles of gratitude. Angelica and her family step into their new Camella home for the first time, overwhelmed with happiness and gratitude.

Abellano won the house and lot from Camella during the “Paskong Pinoy 2024: Piyesta, Musika at Kultura” Christmas gathering organized by the Manila Economic and Cultural Office (MECO) led by its chairperson, Cheloy Velicaria-Garafil, last December. Over 3,000 OFWs attended the event held at the Fu Jen Catholic University in New Taipei City.

Villar congratulated Abellano as she gave her the key to her dream house and lot in Camella Pili, located at Brgy. Cadlan in Pili, Camarines Sur. She also handed over to Abellano a move-in gift certificate worth P50,000 from AllHome to help her start her furnishings for her new house.

She said OFWs like Angelica continue to inspire her in continuing her advocacy to help overseas Filipinos. “Talagang gusto ko magpasalamat sa inyo dahil ikaw ang nagsilbing inspirasyon sa amin. Sobrang saya ko na kahit papaano, maalagaan mo ang pamilya mo,” Villar said.

A warm welcome home. Camille Villar congratulates and welcomes Angelica and her family, celebrating the fulfillment of a long-awaited dream.

Villar reiterated her concern for the OFWs, who sacrifice themselves just to provide for their families.

“Lagi po akong narito, kasama ang aking pamilya, sa pagtataguyod ng maayos na kabuhayan para sa ating mga kababayan, lalung-lalo na ang ating mga bagong bayani. Kasama niyo po kami sa pagkamit ng inyong mga pangarap sa buhay,” Villar said.

“Lahat ng pangangailangan niyo ay lagi ko pong inaalala. Lapitan niyo lamang po ako, at handa po akong tumulong sa inyo sa abot ng aking makakaya,” Villar also said, as she vowed to pursue legislation that would promote and ensure the welfare of OFWs around the world.

 

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COMELEC launches Kontra Bigay 2.0 against vote-buying, vote selling

photo by Edg Adrian A. Eva, BusinessWorld

by Edg Adrian A. Eva, Reporter

The Commission on Elections (Comelec) launched the “Kontra Bigay” committee on Friday to intensify its crackdown on vote-buying and vote selling ahead of the 2025 midterm elections.

The newly launched committee will be permanent and a fortified version of Kontra Bigay, which initially operated as a task force during the 2022 elections, said Comelec Chairman George Erwin M. Garcia.

“Kapag committee kasi siya permanent siya ibig saibihin kapag may mga kaso susubaybayan niya yung mga kasong maifa-file. Sapagkat (kapag) na-file na nila yan sila ang mag-poprosecute, sila rin ang magpapa-disqualify [A committee is permanent, meaning it will monitor filed cases, handle prosecutions, and facilitate disqualifications],” Mr. Garcia told reporters at the launching event on Friday.

Under the expanded Kontra Bigay, law enforcers, including the Philippine National Police (PNP), Armed Forces of the Philippines (AFP), and the National Bureau of Investigation (NBI), can conduct surveillance and validate information, reports, or complaints related to vote-buying, vote-selling, or acts of abuse of state resources.

COMELEC identified presumed acts of vote-buying and vote-selling, including the possession or distribution of money, goods, and alike, along with campaign materials, to influence voters.

It also includes the unauthorized possession or transport of over P500,000, along with campaign materials, within two days before the election and on election day.

These are some of the other acts considered as presumed vote-buying and vote-selling, according to COMELEC:

Mr. Garcia said that individuals caught in the act of committing the presumed acts of vote-buying and vote-selling can be arrested without a warrant by any law enforcement agency. 

He added that this measure is important, as it allows authorities to apprehend individuals even in a short period, preventing them from engaging in vote-buying and vote-selling.  

“Dito, pine-presume na may pamimili ng boto. Therefore, depensahan mo ang sarili mo. Ni-reverse natin para mas mapadali ang arrest at prosecution [Here, vote buying is now presumed. Therefore, it’s up to the offender to defend themselves. We’ve reversed the process to make arrests], Mr. Garcia furthered. 

Under Article 12 of the Omnibus Election Code, vote-buying and vote-selling are punishable by imprisonment of not less than one year but not more than six years.  

To file a complaint, COMELEC Commissioner Ernesto Ferdinand P. Maceda Jr. stated that individuals can submit complaints not only at COMELEC’s main office in Manila but also at their respective Kontra Bigay centers in cities, provinces, and municipalities.

 

Ayuda Ban 

Kontra Bigay’s strengthened version now includes provisions targeting the abuse of state resources (ASR), Mr. Maceda said. This includes the prohibition of using government assistance or Ayuda to influence voters.  

“This initiative is reinforced by the new provisions against abuse of state resources, a silent yet pervasive threat to the foundation of our democracy,” Mr. Maceda said.  

COMELEC has imposed a total ban on the distribution of Ayuda, starting ten days before the elections and on election day. 

This includes programs such as Tulong Panghanapbuhay sa Ating Disadvantaged/Displaced Workers (TUPAD), Angat Kabuhayan at Pag-Asa Program (AKAP), Assistance to Individuals in Crisis Situations (AICS), and the Pantawid Pamilyang Pilipino Program (4Ps). 

However, COMELEC noted that medical and burial assistance are exempted from the total ban.  

Pentagon doubles number of news outlets to ‘rotate’ out from office spaces

THE PENTAGON is seen from the air in Washington, US, March 3. — REUTERS

WASHINGTON – The U.S. Defense Department on Friday doubled the number of news organizations that must vacate their Pentagon office spaces to be replaced by other media outlets under a new “annual media rotation program.”

The department said in a memo it was adding CNN, the Washington Post, the Hill and the War Zone to the outlets that must give up their dedicated space. Those organizations did not immediately respond to requests for comment.

In the first round, the Defense Department said a week ago the New York Times, NBC News, Politico and the National Public Radio had to vacate their dedicated workspaces at the Pentagon.

Incoming media outlets include the New York Post, Breitbart, the Washington Examiner, the Free Press, the Daily Caller, Newsmax, the Huffington Post and One America News Network, most of whom are seen as conservative or favoring Republican President Donald Trump, who took office on January 20.

Outgoing outlets will remain members of the Pentagon Press Corps, the memo said, adding that the rotation expressed a desire to make room for other media outlets.

More than two dozen news organizations operate out of the Pentagon, including Reuters, reporting on the daily activities of the U.S. military.

The Pentagon Press Association, which represents journalists who cover the Defense Department, said it was “shocked and deeply disappointed by the Defense Department’s decision to double the number of news organizations it is removing in two weeks from their dedicated workspaces in the Pentagon from four to eight.”

Reuters correspondent Phil Stewart is a member of the association’s four-member board of directors. – Reuters

Taiwan’s legacy chip industry contemplates future as China eats into share​

STOCK PHOTO

TAIPEI – When Taiwan’s Powerchip Technology entered a deal with the eastern Chinese city of Hefei in 2015 to set up a new chip foundry, it hoped the move would help provide better access the promising Chinese market.

Nine years later, however, that Chinese foundry, Nexchip, has become one of its biggest rivals in the legacy chip space, leveraging steep discounts after Beijing’s localization call forced Powerchip to give up the once-lucrative business making integrated circuits for Chinese flat panels.

Nexchip is among Chinese foundries quickly winning market share in the crucial $56.3 billion industry of so-called legacy or mature node chips made on 28 nanometer technology and larger, a trend that prompted the Biden administration to initiate an investigation and is alarming Taiwanese industry.

These Chinese foundries, which include Hua Hong and SMIC, are threatening the long-held dominance of Powerchip, UMC and Vanguard International in the market for chips used in cars and display panels by slashing prices and embarking on aggressive capacity expansion plans.

Taiwanese foundries are then forced to retreat or pursue more advanced and specialty processes, executives in Taiwan said.

“Mature-node foundries like us must transform; otherwise, Chinese price cuts will mess us up even further,” said Frank Huang, chairman of Powerchip Investment Holding and its listed unit Powerchip Manufacturing Semiconductor Corporation, which the company was reorganized into in 2019.

UMC told Reuters that the expansion of capacity globally had created “severe challenges” for the industry and that it was working with Intel to develop more advanced, smaller chips and diversify beyond legacy chipmaking.

Trade tensions between Washington and Beijing may ease the pain a bit, executives in Taiwan said, as companies hoping to secure supply chains and seek chips made outside China.

U.S. President Donald Trump, however, has said he plans to impose tariffs as high as 100% on semiconductors made outside the United States.

Vanguard International declined to comment. SMIC, Nexchip and Huahong did not respond to requests for comment.

 

CHEAPER, MORE AGGRESSIVE

Blocked by the U.S. in recent years from pursuing high-end chip technology, Chinese foundries doubled down on legacy chips and have undercut Taiwanese rivals on price because of strong funding support from Beijing and their embrace of lower margins, Taiwan chip executives say.

Chinese companies dramatically increased legacy chip production capacity in recent years. According to TrendForce, in 2024, China’s share of global mature node manufacturing capacity was 34%, while Taiwan’s was 43%.

By 2027, China’s share is projected to surpass Taiwan’s, while South Korea and the U.S., with single-digit shares, are expected to decline.

Consultancy SEMI forecasts that out of 97 new fabrication plants starting production from 2023 to 2025, 57 are in China.

Although Taiwanese foundries can still compete on factors such as process stability and better production yield rates, one executive working at a Taiwanese chip designer said Chinese foundries had since 2023 become more aggressive in pitching business.

That person, and a second one working at another Taiwanese chip designer, said Chinese customers – especially in consumer-focused sectors such as panels – were increasingly asking Taiwanese chip designers to hire Chinese fabs to make the chips, in line with a call from Beijing for Chinese companies to localize supply chains.

Both people declined to be named because of the sensitivity of the matter.

Chinese government-related companies, such as China Mobile and China Telecom, have also been issuing stricter requirements on using China-made components, they said.

China Mobile and China Telecommunications Corporation, and China’s Ministry of Industry and Information Technology, did not respond to requests for comment.

 

THE TRUMP EFFECT

Galen Zeng, a senior research manager at global market intelligence firm IDC, said Taiwanese chip designers and foundries were likely to specialize their processes and diversify away from legacy chips, although their profitability would still be hit by Chinese competition in the medium-term.

Powerchip’s Huang said they plan to reduce their work on display driver and sensor chips, which are largely used in the Chinese market, and shift focus towards 3D stacking, a technique that integrates logic and DRAM memory chips to improve computing performance and reduce power consumption.

The company remains Nexchip’s second-largest shareholder, with a 19% stake, but does not play an active management role.

“For chips that will be used in China, we won’t be able to do the business… We must exit, otherwise, there’s no way to survive,” Huang said.

Some respite could come from efforts by Washington to curb China’s chip industry growth, alongside worsening relations between Beijing and other countries that force customers to split supply chains into China-for-China and non-China networks.

Huang told Reuters that they were already seeing some orders that would have gone to China being directed to their Taiwan sites and expect that to accelerate.

An executive from a chip design company in Taiwan, who spoke on condition of anonymity because of the sensitivity of the situation, said they had been receiving more orders from international customers asking to make chips outside China since 2023.

“Some customers will tell us that no matter what, they don’t want us to tape out chips in China; they don’t want ‘Made in China,'” the executive said. – Reuters

Trump to announce 25% steel and aluminum tariffs in latest trade escalation

STOCK PHOTO | Image by Abel Sanchez from Pixabay

ABOARD AIR FORCE ONE – U.S. President Donald Trump said on Sunday he will introduce new 25% tariffs on all steel and aluminum imports into the U.S., on top of existing metals duties, in another major escalation of his trade policy overhaul.

Mr. Trump, speaking to reporters on Air Force One on his way to the NFL Super Bowl in New Orleans, said he will announce the new metals tariffs on Monday.

He also said he will announce reciprocal tariffs on Tuesday or Wednesday, to take effect almost immediately, applying them to all countries and matching the tariff rates levied by each country.

“And very simply, it’s, if they charge us, we charge them,” Mr. Trump said of the reciprocal tariff plan.

The largest sources of U.S. steel imports are Canada, Brazil and Mexico, followed by South Korea and Vietnam, according to government and American Iron and Steel Institute data.

By a large margin, hydropower-rich Canada is the largest supplier of primary aluminum metal to the U.S., accounting for 79% of total imports in the first 11 months of 2024.

“Canadian steel and aluminum support key industries in the U.S. from defence, shipbuilding and auto,” Canadian Innovation Minister Francois-Philippe Champagne posted on X.

“We will continue to stand up for Canada, our workers, and our industries.”

Mr. Trump also said that while the U.S. government would allow Japan’s Nippon Steel 5401.T to invest in U.S. Steel X.N, it would not allow this to become a majority stake.

“Tariffs are going to make it very successful again, and I think it has good management,” Mr. Trump said of U.S. Steel.

Nippon Steel declined to comment on the latest announcements from Trump.

 

QUOTA QUESTIONS

Mr. Trump during his first term imposed tariffs of 25% on steel and 10% on aluminum, but later granted several trading partners duty-free exemptions, including Canada, Mexico and Brazil. Mexico is a major supplier of aluminum scrap and aluminum alloy.

Former President Joe Biden later negotiated duty-free quota arrangements with Britain, the European Union and Japan. It was not immediately clear from Trump’s announcement what will happen to those exemptions and quota arrangements.

“Quebec exports 2.9 million tons of aluminum to (the U.S.), that is, 60% of their needs. Do they prefer to get supplies from China?” Francois Legault, premier of Quebec, said on X.

“All this shows that we must begin to renegotiate our free trade agreement with the United States as soon as possible and not wait for the review planned for 2026. We must put an end to this uncertainty.”

Steel mill capacity usage jumped to levels above 80% in 2019 after Mr. Trump’s initial tariffs, but has fallen since then as China’s global dominance of the sector has pushed down steel prices. A Missouri aluminum smelter revived by the tariffs was idled last year by Magnitude 7 Metals.

 

MATCHING RATES

Mr. Trump said he would hold a news conference on Tuesday or Wednesday to provide detailed information on the reciprocal tariff plan, adding that he first revealed on Friday that he was planning reciprocal tariffs to ensure “that we’re treated evenly with other countries.”

The new U.S. president has long complained about the EU’s 10% tariffs on auto imports being much higher than the U.S. car rate of 2.5%. He frequently states that Europe “won’t take our cars” but ships millions west across the Atlantic every year.

The U.S., however, enjoys a 25% tariff on pickup trucks, a vital source of profits for Detroit automakers General Motors, Ford and Stellantis’ U.S. operations.

The U.S. trade-weighted average tariff rate is about 2.2%, according to World Trade Organization data, compared to 12% for India, 6.7% for Brazil, 5.1% for Vietnam and 2.7% for European Union countries.

 

BORDER STEPS

In a separate Fox News interview, Trump said Canada’s and Mexico’s actions to secure their U.S. borders and halt the flow of drugs and migrants are insufficient ahead of a March 1 tariff deadline.

Mr. Trump has threatened to impose tariffs of 25% on all Mexican and Canadian imports unless America’s two largest trading partners take stronger actions. He paused the tariffs until March 1 after some initial border security concessions from the two countries, with Mexico pledging to add 10,000 National Guard troops to its border and Canada deploying new technology and personnel and taking new anti-fentanyl steps.

Asked whether Mexico’s and Canada’s actions were good enough, Mr. Trump replied: “No, it’s not good enough,” Trump said. “Something has to happen, it’s not sustainable, and I’m changing it.”

Mr. Trump did not say what Canada and Mexico needed to do to avoid broad tariffs on March 1. – Reuters

In China’s export hub of Yiwu, traders shrug off Trump’s tariffs

U.S. and Chinese flags are seen in this illustration taken, April 24, 2024. — REUTERS

YIWU, China – Traders in China’s export manufacturing hub of Yiwu shrugged off U.S. President Donald Trump’s tariffs and moves against China on Sunday, with some saying they made preparations to soften the blow.

Yiwu city in eastern China’s Zhejiang province is the world’s largest wholesale hub for small manufactured items, exporting products ranging from Christmas trees to costume jewellery globally, including to the United States.

“We predicted that he would assume power,” Cheng Haodong, chairman of Beisi Group, a business which sells clothes to water bottles, told Reuters from their office in the city.

“After he assumed power, ok, how do we want to adjust? Actually it was prepared for in advance,” he said.

They monitored information on overseas social media sites, he added, which led to them establishing a new factory for producing liquid laundry detergent in the U.S. state of Tennessee in April.

Trump’s campaign promised 60% tariffs on Chinese imports before he was elected. However, he revised that to 10% after taking office, which took effect on Tuesday. He also plans to cancel duty-free treatment of low-cost packages from China.

“This time actually the shock won’t be too big for us,” said Cheng, who declined to provide detailed figures on sales.

Beisi exports to other businesses abroad, but also sells some of its products directly to U.S. consumers through online platforms such as Temu and Shein, low-priced shopping sites that analysts expect will be hard hit by Trump’s repeal of the ‘de minimis’ rule – a trade loophole that allowed low-value imports to enter the country duty-free.

Similar sentiments were shared by traders and buyers in the cavernous, sprawling market in the city, where many were just returning to work after the end of the eight-day Lunar New Year break, China’s biggest holiday.

“(Even if) you increase (the tariff) to 50% it won’t have any effect on us,” said Zeng Hao, owner of Jinqi Wanju which sells toys such as brightly-colored dinosaur figurines.

That was because the products are highly profitable and his firm could absorb some of the tariff burden, he said. Companies down the supply chain also have reason to increase their own prices, he added.

Trump’s moves have reignited fears that full-blown trade war will escalate between the world’s largest two economies, with China preparing to impose its own counter-tariffs of up to 15% on some U.S. goods.

Abby Jin, who buys products in Yiwu on behalf of other customers in markets such as the United States, Australia and the Middle East, said vendors in the city were not short of orders.

“We can respond by slighting reducing our profit margins or adjusting costs. In the end, the additional costs will be passed on to the end consumers in their country, meaning they will ultimately bear the consequences of their own economic policies,” she said.

“For the U.S., whether they can find a suitable country to replace us (as a trade partner) is a question they need to consider themselves.” – Reuters

Trump wants US to own Gaza, could let Middle East states help rebuild

WIKIMEDIA.ORG

ABOARD AIR FORCE ONE – U.S. President Donald Trump said on Sunday he is committed to buying and owning Gaza, but could allow sections of the war-ravaged land to be rebuilt by other states in the Middle East.

“I’m committed to buying and owning Gaza. As far as us rebuilding it, we may give it to other states in the Middle East to build sections of it, other people may do it, through our auspices. But we’re committed to owning it, taking it, and making sure that Hamas doesn’t move back.”

Mr. Trump made his remarks to reporters aboard Air Force One on his way to New Orleans to attend the National Football League Super Bowl championship.

“There’s nothing to move back into. The place is a demolition site. The remainder will be demolished. Everything’s demolished,” he said.

Mr. Trump also said he was open to the possibility of allowing some Palestinian refugees into the United States, but would consider such requests on a case-by-case basis.

Ezzat El Rashq, a member of the Hamas political bureau, condemned Trump’s latest remarks on buying and owning Gaza, the group said in a statement.

“Gaza is not a property to be sold and bought. It is an integral part of our occupied Palestinian land,” and Palestinians will foil displacement plans, Mr. Rashq added.

Mr. Trump has spoken of permanently displacing Palestinians who live in Gaza and would create a “Riviera of the Middle East.”

Mr. Trump last week floated the idea of the United States taking over Gaza and engaging in a massive rebuilding effort.

His statement was vague on the future of Palestinians who had endured over a year of bombardment by Israel in response to an October 2023 attack by Hamas.

It was unclear under what authority the United States would take claim of Gaza. Mr. Trump’s announcement drew immediate rebukes from several nations.

Earlier on Sunday, Israeli President Isaac Herzog said Trump was set to meet with Egyptian President Abdel Fattah el-Sisi and possibly Saudi Arabian Crown Prince Mohammed bin Salman, although he gave no dates for the talks.

The comments, delivered in an interview with Fox News’ Maria Bartiromo, came in response to a question about Mr. Trump’s recently unveiled proposal to take over and redevelop the Gaza Strip.

Mr. Herzog did not say when or where the meetings would take place, nor did he discuss their potential content. He also noted that Trump is due to meet with Jordan’s King Abdullah in the coming days, which Jordan’s state news agency has already reported.

“President Trump is due to meet with major, major Arab leaders, first and foremost the king of Jordan and the president of Egypt and I think also the crown prince of Saudi Arabia as well,” Mr. Herzog said.

“These are partners that must be listened to, they must be discussed with. We have to honor their feelings as well and see how we build a plan that is sustainable for the future,” Mr. Herzog said.

Saudi Arabia has flatly rejected Mr. Trump’s Gaza plan, as have many world leaders.

Jordan’s King Abdullah plans to tell Trump during their planned February 11 meeting in Washington that the proposal is a recipe for radicalism that will spread chaos through the Middle East and jeopardize the kingdom’s peace with Israel, Reuters reported earlier this week.

The White House did not immediately respond to requests for comment. It was not immediately possible to contact officials in Cairo and Riyadh. – Reuters

Philippines gears up to lead AI innovations, says DOST

photo by Edg Adrian A. Eva, BusinessWorld

by Edg Adrian A. Eva, Reporter

The Philippines is preparing to be one of the leaders in Artificial Intelligence (AI) innovations, with various research and development initiatives underway, according to the Department of Science and Technology (DOST). 

In 2024, the Philippines climbed nine spots in the Government AI Readiness Index, ranking 56th from 65th in 2023, according to Oxford Insights. The country scored 58.51 out of 100, significantly above the global average of 47.59. 

The index primarily assesses the government’s readiness to implement AI in delivering public services. 

Dr. Franz A. De Leon, Director of the DOST-Advanced Science and Technology Institute (ASTI), said the country’s improved ranking in the index underscores its commitment to advancing AI innovations that can drive societal and economic progress. 

“Building on this momentum, DOST is driving AI innovation through strategic investments in research, infrastructure, and real-world, impactful applications of these transformative initiatives,” Mr. De Leon said during DOST’s Elev8 launch event on Wednesday. 

One of the AI initiatives supported by DOST is the Advancing Computing Analytics, Big Data, and Artificial Intelligence in the Philippines (ACABAI-PH).  

This program aims to make AI more accessible to various stakeholders, allowing them to utilize AI solutions without requiring extensive technical expertise. 

Mr. De Leon said that ACABAI PH can address issues like supply chain inefficiencies and improve disaster response. 

“To realize this vision, ACABAI PH is building an AI virtual hub—an AI-as-a-service ecosystem—offering accessible AI tools that businesses, researchers, and even communities can now use to implement AI solutions without needing extensive technical expertise,” Mr. De Leon furthered.  

The AI virtual hub will be developed not just in Manila, but also throughout the country, Mr. De Leon added.  

Meanwhile, various AI R&D and investments activities are also being supported by DOST.  

This includes initiatives like the Computing and Archiving Research Environment (COARE), which provides researchers with high-performance computing, data storage, and analytics capabilities.  

Other projects, such as ASIMOV-HAWK, an AI solution for addressing agricultural challenges like detecting diseases on crops, and ASTI-Alam, an online repository offering free pre-trained AI models for sectors like agriculture, disaster management, and urban planning.  

DOST Secretary Renato U. Solidum Jr. told BusinessWorld that the DOST is also supporting other AI initiatives aimed at helping micro, small, and medium enterprises, like Packworks.  

The DOST is also supporting the development of “iTANONG,” a Filipino version of ChatGPT, which allows users to ask questions in Filipino, English, and Taglish (a combination of Tagalog and English).  

“We are already developing it, so we are not starting from scratch. We are making AI more accessible so that more people can actually use it,” Mr. Solidum said.

[B-SIDE Podcast] Addressing the concerns surrounding teenage pregnancy prevention bill

Follow us on Spotify BusinessWorld B-Side

The Adolescent Pregnancy Prevention Bill, or Senate Bill 1979, was introduced to address the rising cases of teenage pregnancy in the country. However, it recently became controversial after a viral video from Project Dalisay claimed that the bill undermines traditional Filipino values, sparking various conversations and even leading seven senators to withdraw their signatures from the bill.

In light of this issue, we’re joined by Maria Aurora O. Quilala, Deputy Executive Director of the Philippine Legislators’ Committee on Population and Development, as she shares her thoughts on the recent controversies surrounding the bill.

Interview by Edg Adrian A. Eva
Audio editing by Jayson Mariñas

Follow us on Spotify BusinessWorld B-Side

Should K-12 be made optional?

The new K-12 curriculum, expected to roll out for the academic year 2025-2026, is aimed at producing employable or employment-ready graduates. Should K-12 be made optional, though? BusinessWorld asks several college students their thoughts.

Interview by Almira Martinez
Video editing by Arjale Queral

BSP to cut rates by 25 bps — poll

The Philippine central bank is expected to cut rates this week as inflation remains within the 2-4% target. — PHILIPPINE STAR/EDD GUMBAN

By Luisa Maria Jacinta C. Jocson, Reporter

THE BANGKO SENTRAL ng Pilipinas (BSP) is expected to cut rates for a fourth straight meeting on Thursday, analysts said, amid within-target inflation and weaker-than-expected gross domestic product (GDP).   

A BusinessWorld poll conducted last week showed that 19 out of 20 analysts expect the Monetary Board to reduce the target reverse repurchase rate by 25 basis points (bps) at its policy review on Feb. 13.

If realized, this would bring the benchmark rate to 5.5% from the current 5.75%.

This would also mark the fourth straight meeting the BSP cut rates since it began its easing cycle in August.

In 2024, the central bank slashed borrowing costs by a total of 75 bps.

On the other hand, one analyst expects the central bank to keep interest rates steady at the meeting.

“We are expecting the BSP to cut the policy rate by 25 bps to 5.5% at its Monetary Board meeting,” Security Bank Corp. Vice-President and Research Division Head Angelo B. Taningco said.

Pantheon Macroeconomics Chief Emerging Asia Economist Miguel Chanco said monetary policy normalization is “far from over” amid elevated interest rates.

“I’m expecting the Monetary Board to cut further this week, by another 25 bps, especially with fourth-quarter GDP coming in softer than expectations and with inflation remaining firmly within the BSP’s target range,” he said.

Citi Economist for the Philippines Nalin Chutchotitham said the BSP is likely to deliver a 25-bp cut on Thursday after weaker-than-expected 2024 growth and a moderate inflation outlook.

BSP Governor Eli M. Remolona, Jr. earlier said a rate cut is still “on the table” for this week.

“The central bank might use the slower-than-expected growth last quarter as the primary justification for the cut, along with a stable inflation environment that allows the central bank to focus more on boosting the economy,” Bank of the Philippine Islands (BPI) Lead Economist Emilio S. Neri, Jr. said.

Chinabank Research said price pressures have remained “generally mild and manageable.”

“Headline inflation staying stable at 2.9% in January, and core inflation even easing slightly, will be a key input to the Monetary Board,” Nomura Global Markets Research analyst Euben Paracuelles said.

Headline inflation remained steady at 2.9% in January, within the central bank’s 2-4% target band.

HSBC economist for ASEAN Aris D. Dacanay said inflation is “not so much of a concern” as the latest consumer price index outturn was well-within target.

WEAK GROWTH
Meanwhile, analysts noted that the latest economic output data could prompt further policy easing.

“Having attained its inflation objective in 2024 alongside a target-consistent inflation outlook this year, the BSP has room to trim its policy rate following another disappointing GDP growth estimate,” Ruben Carlo O. Asuncion, chief economist at Union Bank of the Philippines, Inc., said.

Patrick M. Ella, economist at Sun Life Investment Management and Trust Corp. said that weak GDP is a “more pressing issue” for now so the BSP “needs to support growth from the monetary side.”

“The country’s subdued economic performance for both the fourth quarter and full-year 2024 likewise supports the case for less restrictive monetary policy to help meet the government’s 6-8% target for this year,” Chinabank said.

The Philippines’ GDP grew by a slower-than-anticipated 5.2% in the fourth quarter. This brought full-year 2024 growth to 5.6%, short of the government’s 6-6.5% target.

“Softer GDP data for the second straight quarter and the slowest in 1.5 years or since the second quarter of 2023 would further support local policy rate cuts,” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said.

The BSP chief earlier said the country is growing at a “little bit below capacity.” If the output gap widens further, this would call for more easing, Mr. Remolona added.

“The BSP’s sustained rate action contributes to lower costs of funding and doing business while sowing the seeds for investment-driven growth that can help create jobs and incomes,” Mr. Asuncion said.

Mr. Dacanay said loosening monetary policy will “help raise demand for credit and support growth.”

“This is an important market signal to boost business activity and spending after the disappointing GDP growth report for the last quarter of 2024,” Oikonomia Advisory & Research, Inc. economist Reinielle Matt Erece said.

PESO
Meanwhile, the peso’s recent appreciation could also allow the BSP to continue on its easing cycle.

“The recent stability of the peso could also provide the BSP with more room to consider a rate cut,” Mr. Neri said.

“The currency has strengthened in recent trading sessions following the US government’s decision to postpone its tariffs against Canada and Mexico. While a rate cut could exert pressure on the peso, improving market sentiment may mitigate this.”

The peso closed at P58.03 per dollar on Friday, strengthening by 15 centavos from its P58.18 finish on Thursday. This was its strongest close in more than a month or since its P57.91-per-dollar finish on Jan. 2.

Week on week, the peso likewise rose by 33.5 centavos from its P58.365 finish on Jan. 31.

“Moreover, the BSP might be open also to a higher exchange rate as long as inflation remains within target. A weaker peso could also benefit the economy by boosting the purchasing power of exporters and OFW households,” Mr. Neri added.

Meanwhile, Mr. Dacanay said there is also room for the BSP to narrow its interest rate differential with the US Federal Reserve.

“Currently at 125 bps, history has shown us that the spread between the BSP and the upper-end range of the Fed rate can be as narrow as 100 bps before stoking financial jitters,” he said.

Reuters reported Federal Reserve officials on Friday said the US job market is solid and noted the lack of clarity over how President Donald J. Trump’s policies will affect economic growth and still-elevated inflation, underscoring their no-rush approach to interest rate cuts.

The Fed kept its policy rate steady last month, citing economic uncertainties.

“We think the BSP could still proceed with a 25-bp cut as the resulting interest rate differential, at 100 bps, remains at a comfortable level and would likely not risk a significant depreciation of the peso against the US dollar,” Chinabank Research added.

On the other hand, Moody’s Analytics economist Sarah Tan said the BSP could keep rates on hold on Thursday, noting it seems “too soon” to cut rates amid trade war jitters.

“The BSP will be prudent in monitoring global developments that could reinflate inflation and weaken the strength of the peso,” she added.

CAUTIOUS EASING
Moving forward, analysts said the central bank will likely remain cautious and could deliver fewer than expected rate cuts this year.

“The BSP will likely maintain its cautious messaging, given persisting inflation risks and increased global uncertainties,” Chinabank Research said.

The central bank earlier warned that the risks to the inflation outlook remain tilted to the upside for this year and 2026.

“Across 2025, we expect monetary policy easing to continue but at a more moderate pace,” Ms. Tan said.

Mr. Remolona had signaled the possibility of cutting by a total of 50 bps this year, saying that 75 bps or 100 bps may be a bit “too much.”

“Although a rate cut remains on the table, we believe the extent of easing this year will be limited,” Mr. Neri said.

“The sizable current account deficit of the economy makes it more vulnerable to external shocks such as global trade tensions. A narrower interest rate differential could also drive portfolio outflows as investors seek higher returns elsewhere,” he added.

Mr. Neri expects a total of 50 bps worth of rate reductions this year.

“Front-loading Mr. Remolona’s preference for a 50-bp rate cut this year with the Fed on hold would be macro-appropriate although this would be at the price of a weaker peso,” Mr. Asuncion said.

On the other hand, Mr. Ella expects the central bank to deliver two rate cuts totaling 50 bps in the first half, keep rates steady in the third quarter before delivering another 25-bp cut in the fourth quarter.

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