Starting and continuing conversations for the business community

September 29, 2025 | 12:07 am

SF_DSCF1562-OL — This year’s BusinessWorld Economic Forum was held last May 22 at Grand Hyatt Manila in Bonifacio Global City, Taguig.

By Jomarc Angelo M. Corpuz, Special Features and Content Writer

BusinessWorld has been a vanguard of Philippine business journalism since its establishment in 1987. By keeping true to its core values of accuracy and innovation, the oldest business paper in Southeast Asia has grown to become a leading authority in economic and financial reporting as well as a uniting figure for the Philippine business community.

The publication has evolved from a traditional print-based outlet to a trusted multimedia platform accessible through different mediums such as print, online, social media, and podcasts. Beyond these channels, BusinessWorld extends its role into a venue for high-level dialogue that seeps into boardrooms, policy discussions, and strategy sessions across corporations in the Philippines.

Foremost of these community-gathering fora are the Economic Forum and the Forecast conference held every May and November, respectively, coupled with Insights fora held throughout the year.

At BusinessWorld’s Economic and Forecast fora, leaders and decision-makers from both the private and public sectors are brought together to confront economic realities, as well as the gap between the Philippines’ long-standing potential and the progress that has yet to materialize.

“The theme of how to make that promise happen is the common thread of all our BusinessWorld events. Our country has also been tagged internationally as the next big thing, but midway through the 2020s it has never happened. That’s why our intent to push for economic factors to happen is the conversation of this to take the front seat,” BusinessWorld Executive Vice-President Lucien C. Dy Tioco said.

Vice-President for Sales and Marketing Jay R. Sarmiento added that these fora’s key themes consistently focus on the most pressing issues for the Philippine economy and the business community.

“While specific topics vary from year to year, some standout and recurring themes were: digitalization and technology; sustainability and the environmental, social, and governance (ESG) standard; economic resilience and recovery; green economy; and the transition to clean energy,” she explained.

She also emphasized the two fora’s ability to address the most pressing and relevant issues facing the economy, saying that stakeholders’ feedback often points to the discussions being “intelligent and thoughtful” and providing a “deeper analysis” of critical issues.

“A recurring theme in the feedback is the forum’s role in ‘bridging the gap’ between the private and public sectors. The events are valued for providing a venue where policy makers and business leaders can have a direct dialogue, identify pain points, and work together to push for solutions. This collaborative environment is highly appreciated by attendees who are keen on contributing to national development,” she said.

“The caliber of our high-level and influential speakers is the key differentiator… as they provide a rare opportunity for attendees to hear directly from and engage with the people who are shaping policy and business strategy in the country,” Ms. Sarmiento added.

This year’s BusinessWorld Economic Forum was headlined by keynote speakers (counter-clockwise from top) Economy, Planning, and Development Secretary Arsenio M. Balisacan, ASEAN+3 Macroeconomic Research Office Country Economist for the Philippines Dr. Andrew Tsang, and Special Assistant to the President for Investment and Economic Affairs Frederick D. Go.

This year’s Economic Forum, carrying the theme “Unlocking Philippines’ Potential,” gathered policy makers, economists, top executives and business leaders to discuss how the Philippines moves from potential to performance, and from promise to permanence.

The forum was headlined by Department of Economy, Planning, and Development Secretary Arsenio M. Balisacan, who delivered a keynote address regarding “The Philippines at An Inflection Point;” ASEAN+3 Macroeconomic Research Office Country Economist for the Philippines Dr. Andrew Tsang, who offered an external perspective on this current inflection point; and Special Assistant to the President for Investment and Economic Affairs Frederick D. Go, who emphasized points for optimism in the Philippine economy despite all the challenges facing the global economy.

Other topics discussed during the event included “Building an Inclusive and Resilient Future for the Philippines,” “Elevating Energy Transition in the Philippines,” and “Tariffs, Trade, and Trump: How a Second Term Could Hit the Philippines.”

Besides Economic and Forecast fora, BusinessWorld has also captured the attention of the business community, industries in particular, through its regular BusinessWorld Insights events. Recent editions of the series had topics that tackled the country’s healthcare system, stock market outlook, and energy prospects.

Last January, the Insights forum on healthcare featured Emmanuel R. Ledesma, Jr., president and chief executive officer of the Philippine Health Insurance Corp. (PhilHealth), as keynote speaker. Executives and health advocates from Philippine Alliance of Patient Organizations, The Medical City, mWell, Alaga Health, Romlas Health Group, and UP Manila Standards & Interoperability Laboratory were among the panelists.

In February, the Insights event on the Philippine stock market welcomed Department of Finance Assistant Secretary Neil Adrian S. Cabiles, who delivered a keynote address on “Strengthening Market Resilience in the Pursuit of Growth in 2025.” Experts from COL Financial Group, Sun Life Investment Management and Trust Corp., First Metro Securities Brokerage Corp., Unicapital Group, and BDO Securities Corp. shared their outlooks and insights into the local bourse.

Meanwhile, the April installment emphasized that efficiency and conservation are crucial to attaining energy security. National Electrification Administration Administrator Antonio Mariano C. Almeda and Deputy Administrator for Technical Service Engr. Ernesto O. Silvano, Jr. discussed the challenges and opportunities in the energy supply chain. Chiefs from the Philippine Energy Efficiency Alliance and Meralco PowerGen Corp. further explored the aforementioned topic.

BusinessWorld has also captured the attention of the business community, industries in particular, through BusinessWorld Insights.

Last August, BusinessWorld Insights kick-started its three-part Cybersecurity Series with a discussion on how organizations can foster a security-first culture to thrive in today’s high-risk digital environment. Through this series, which will culminate into a Cybersecurity Summit next year, BusinessWorld underscores that safeguarding information, individuals, and organizations in the digital world is just as critical as securing economic growth.

“It needs attention because cybercrime has been increasing year on year which can threaten big and small businesses and eventually the economy. BusinessWorld wants to start the conversation in securing a cybersafe environment with the active involvement of private, government, and the consumer,” Mr. Dy Tioco said.

Building on this urgency, the next phases of the series will gather key voices from both the public and private sectors to dive deeper into the nation’s cybersecurity landscape.

This November, meanwhile, the upcoming Forecast 2026 forum seeks to shed light on the global challenges the Philippine business community should brace for and the prospects to optimize for the year ahead.

The forum intends to help attendees make sense of the shifts that businesses currently undergo — from digital disruption and green transition to demographic shifts among the workforce and consumers.

Top executives are invited to discuss the future of Philippine industries and new opportunities for growth in the midst of disruptions, while industry experts and thought leaders are expected to take deep dives into the macroeconomic outlook, artificial intelligence, the local legal space, and the country’s trade landscape, among others.

As the Philippine business community navigates an ever-changing and often-disruptive landscape, BusinessWorld continues to serve as a reliable guide not only in print or online but on ground.

“Always, BusinessWorld reasserts its mighty clout within the business community, and its unparalleled business intelligence is stronger than ever,” Mr. Dy Tioco said.

Milan Fashion Week: Meryl Streep at Dolce & Gabbana as scenes shot for Devil Wears Prada sequel

September 29, 2025 | 12:07 am

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MILAN — Meryl Streep and Stanley Tucci were on the front row of Dolce & Gabbana’s Milan Fashion Week show on Saturday, in character as magazine editor Miranda Priestly and her art director as scenes were shot for The Devil Wears Prada 2.

Part of the filming for the sequel to the fashion movie will take place in Milan.

Vogue doyenne Anna Wintour, widely considered an inspiration for the Miranda Priestly character, was also at the show to see the models parade in pajama-style trousers and shirts, paired with black lace lingerie or oversized jackets.

Accessories included faux fur bags and slippers and black stiletto heel shoes worn with mid-calf socks.

The new collection by designers Domenico Dolce and Stefano Gabbana, titled PJ Obsession “celebrates the freedom to redefine the boundaries between private and public, between power and seduction,” according to the press notes.

EMPORIO ARMANI
Emporio Armani unveiled on Thursday its first collection since the death of the fashion house’s founder and designer, with models paying tribute to the man known as King Giorgio with long applause during the final walk of the show.

No one came out for the usual designer’s bow, not even Giorgio Armani’s niece Silvana, who always worked alongside him in creating the womenswear collections.

Some in the audience had tearful eyes.

Mr. Armani, who died on Sept. 4 aged 91, worked on the brand’s collection until the very end of his life, the company said earlier this month, when they confirmed the shows at the Milan fashion week.

Emporio Armani’s spring-summer collection, titled “Returns,” was dominated by neutral tones, airy garments and multicultural inspirations. (Watch the show here: https://tinyurl.com/yu3vd3cs)

“The collection is born from the desire to capture the impulse and shifting sensations that accompany a return to the city, after a journey,” the brand said in notes for the press.

Earlier on Thursday, Italian fashion house Prada presented a collection titled “body composition,” designed by Miuccia Prada and Raf Simons, which included uniform-style outfits and evening wear in a juxtaposition of contrasting elements.

“There are radical reconsiderations of the fundamental properties of clothes — skirts find their points of suspension from the shoulder, brassieres have shape without structure,” they wrote in the notes. (Watch the show here: https://tinyurl.com/mrxttetf )

FENDI
Italian luxury brand Fendi unveiled its Spring/Summer 2026 collection on Wednesday, featuring both floral designs and geometric patterns in a broad range of colors. (See the show here: https://tinyurl.com/59uy5khz)

Models walked through Fendi’s Milan headquarters, where the runway was set in a large space filled with multicolored blocks, creating a pixel-like backdrop that echoed the collection’s mix of textures and shades.

At Fendi, which was founded in Rome in 1925 and is now part of French luxury conglomerate LVMH, designer Silvia Venturini Fendi presented both the menswear and womenswear lines, saying a “shared spirit” was behind both.

It’s about a relaxed and colorful sense of ease with a romantic elegance,” she said in the press notes.

The color palette ranged from white to turquoise and bright red, along with softer pastel tones.

Also Italian fashion house Missoni presented its summer collection on Wednesday in Milan, to be followed by Etro later in the day.

GUCCI
Gucci kicked off Milan Fashion Week on Tuesday by breaking the mold: In a short dramatic film, Demi Moore, Edward Norton, and other actors wore designs by new creative director Demna as French parent company Kering seeks to revive the century-old Italian label.

The story, set in a birthday dinner celebration, replaced the traditional live runway walk.

Kering is banking on Demna, who transformed Balenciaga’s austere image to incorporate pop culture, to bring his magic to its flagship label Gucci, which accounts for the bulk of its profits, after two years of sliding sales to accelerate its recovery.

Inside Palazzo Mezzanotte, which houses the Milan stock exchange, Gucci screened The Tiger, co-directed by American Spike Jonze and Dutch Halina Reijn, and starring Ed Harris, among other actors. (Watch the movie here: https://tinyurl.com/mtve93zy)

Models draped in Demna’s new “La Famiglia” collection, including opulent fur coats and deeply plunging shirts, sat in the front rows of the makeshift movie theater.

Ms. Moore, the film’s protagonist, watched in a gleaming golden dress from the velvet seats.

“There’s only Gucci in my head,” Demna told journalists in brief remarks at the event, describing his Gucci debut as part of his process to redefine the house’s stylistic codes.

In a surprise, Gucci showed images of the Georgian designer’s styles on Instagram on Monday, ahead of Tuesday’s screening in a bold attempt to grab attention at the start of a packed fashion show season.

New Kering Chief Executive Officer (CEO) Luca de Meo, chairman and controlling shareholder Francois-Henri Pinault and newly appointed Gucci CEO Francesca Bellettini also attended the event.

Demna’s first catwalk show will be held in February. — Reuters

MGen weighs REIT option to raise funds for projects

September 29, 2025 | 12:06 am

bongabon-power-plant-solar panel — MGREEN BONGABON SOLAR in Barangay Pesa, Bongabon, Nueva Ecija. — MERALCOPOWERGEN.COM.PH

MERALCO POWERGEN CORP. (MGEN) is considering tapping the local capital market through a real estate investment trust (REIT) listing to raise funds and support its projects, its president said.

“It’s one of the options,” MGEN President and Chief Executive Officer Emmanuel V. Rubio said when asked if the company is exploring a REIT listing, speaking to reporters on Sept. 18.

A REIT is a company that owns or operates income-generating real estate assets, with a listing allowing companies to raise funds by selling shares of these assets to the public.

The possible move comes alongside the planned listing of its renewable energy unit MGEN Renewable Energy, Inc. (MGEN Renewables), which is targeted for the second half of 2026. This may involve transferring assets to its affiliate SP New Energy Corp. (SPNEC).

“We’re just beefing up MGEN Renewables with more land… We feel that the right timing is that when we deliver the first phase of Terra Solar — that’s when investors and the public will know that we’re capable of delivering on our promise,” Mr. Rubio said.

MGEN operates a portfolio of power generation assets with a total net sellable capacity of over 5,068 megawatts (MW) from both conventional and renewable sources.

The company expects to double its capacity to 10,346 MW by 2030 through growth projects such as the MTerra Solar Project.

The P200-billion MTerra Solar Project, being developed by a unit of SPNEC, consists of a 3,500-MWp solar facility and a 4,500-megawatt-hour (MWh) battery energy storage system in Nueva Ecija and Bulacan.

Once completed by 2027, the project is expected to supply clean energy to about 2.4 million households and avoid an estimated 4.3 million tons of carbon emissions annually.

Alongside this development, MGEN and SPNEC are also preparing for another project that will house a 1,500-megawatt alternating current (MWac) solar farm and up to 900 MWh of battery energy storage.

“We are looking at land for Terra Solar 2. If that about 450 hectares that we bought in Nueva Ecija will form part of Terra Solar 2, then let it be. The thing is, I don’t think Terra Solar 2 has to be in one location,” Mr. Rubio said.

MGEN, a subsidiary of power distributor Manila Electric Co. (Meralco), is expected to provide higher earnings contribution with the entry of MTerra Solar, the executive said.

“I believe that’s going to go a bit higher. But the goal really is not to be as close as we can to the distribution utility’s earnings, but to make sure that we contribute to the overall sustainability strategy of Meralco,” Mr. Rubio said.

Meralco’s controlling shareholder, Beacon Electric Asset Holdings, Inc., is partially owned by PLDT Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Sheldeen Joy Talavera

L’Oréal partners with TESDA

September 29, 2025 | 12:06 am

L'Oreal-partnership-event-photo-3 — L’ORÉAL

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BEAUTY conglomerate L’Oréal has been known for its Beauty for a Better Life program: the global initiative that helps people around the world enter the beauty industry. In the Philippines, under the program, it partners with local government units to teach skills to the underprivileged. On Sept. 24, at their headquarters at the Podium West Tower, the L’Oréal Academy announced a partnership with the Technical Education and Skills Development Authority (TESDA), promising to scale up the company’s reach throughout the Philippines.

The partnership concerns the government body, the beauty conglomerate, and corporate social responsibility (CSR) organization Philippine Business for Social Progress (PBSP). Under this partnership, L’Oréal Philippines will share beauty expertise and resources with TESDA to elevate and update the Hairdressing NC II Certification. Through training, Filipino hairdressers will be equipped with the latest hair trends and techniques and gain specialized skills to improve their craft. The updated program will also introduce the L’Oréal Color Certification — a global program designed to help hairdressers become colorists with internationally recognized skills.

Hassan Khan, general manager for L’Oréal’s professional products division in the Philippines, said in a group interview that their participation involves three things: their provision of the updated global curriculum for TESDA, use of L’Oréal products, and use of the headquarters’ academy. “We’re also providing this facility. If TESDA ever wants to use this facility, we’re also open to share that,” he said.

As part of the partnership between L’Oréal Philippines, TESDA, and PBSP, at least 50 new aspiring hairdressers will be trained this year. “This partnership demonstrates how skills development can unlock opportunities,” said Jose Francisco Benitez, secretary and director general of TESDA, in a statement. “Hairdressing is not just about styling — it is culture, livelihood, and dignity. Through this partnership with L’Oréal Philippines and PBSP, we are not only enhancing our Hairdressing NC II program to meet global standards but also empowering women, out-of-school youth, and underserved communities to turn their skills into sustainable careers. Together, we are raising the bar for the profession and giving every Filipino hairdresser the opportunity to compete on the world stage.”

Mr. Khan said that more than a corporate social responsibility program, it’s also an opportunity to change the entire beauty industry in the country. “We don’t see it as a CSR program. We think that it’s important for the existence of our industry: to really continue the growth opportunities and provide the right skillsets to our salon partners.

“As a market leader, it’s our role to uplift the overall industry,” he said.

More than the training itself, they’re also providing for future employment of the people who graduate from the program: providing internships at their partner salons, for example, but also: “What we’re also doing is track their progress and linking them to our salon partners.”

Since 2017, Beauty for a Better Life has empowered 524 Filipinos from Antipolo, Mandaluyong, Manila, Marikina, Pateros, Quezon City, and Taguig. With this new partnership, “Together, we can really reach out to people from different vicinities and different regions, and not just Metro Manila,” said Mr. Khan. — J.L. Garcia

Q&A: ‘We will not stop educating people about EVs’

September 29, 2025 | 12:05 am

VELO_PAGE1_image1 — Mr. Palanca aboard a Fangchengbao SUV at BYD’s Di-Space Museum in Zhengzhou — PHOTO BY KAP MACEDA AGUILA

BYD Cars Philippines Managing Director Bob Palanca on what to expect from the ‘new energy vehicle’ leader

Interview by Kap Maceda Aguila

IN THE ERQI District of Zhengzhou stands Di-Space, BYD’s first “national new energy vehicle science museum.” The facility not only tells of and encapsulates the auto industry’s tale as a whole but is a deep dive into the innovations and technologies that have marked the journey-to-date of the world’s leading new energy vehicle brand.

It is verily a curious juxtaposition of old and new. Zhengzhou is the capital of Henan Province located on the east-central mainland, and is said to boast history dating back to the Neolithic times and was a former ancient Shang dynasty stronghold. Di-Space is now projecting the type of cutting-edge work being done on BYD vehicles and their components — along with specimens from its affiliate marques Denza, Fangchengbao, and Yangwang.

BYD said it sunk nearly CNY200 million into establishing the four-storey, 15,000-square-meter facility (with an additional 8,500 square meters of outdoor support), which marks “an important step for BYD in the field of science education and cultural promotion of new energy vehicles.”

Speaking in front of a long-wheelbase, three-row luxury SUV Yangwang U8 (just launched this month in China), BYD Cars Philippines Managing Director Bob Palanca exclusively spoke with “Velocity” on the sidelines of last week’s BYD 2025 Philippine Media Driving Experience Day (more reportage coming soon). BYD, through local distributor ACMobility, has already established 40 dealerships in the country, and previously declared an intent to grow the network to 77 locations by yearend.

Here are excerpts from our exclusive interview.

VELOCITY: Can you share with us the message that BYD wants us to take away from our experiences in the global headquarters in Shenzhen and Di-Space in Zhengzhou? What does BYD want to convey to customers and would-be customers in the Philippines?

BOB PALANCA: We are a technology company. Our brand is not just building cars; it’s building the future — from our Blade battery, to our platforms, to our extensive technologies being offered. And BYD is not stopping. That’s the reason why there are over 120,000 engineers across the world developing technologies for BYD’s customers to experience.

Please comment on the state of BYD’s business in the Philippines.

As mentioned during our announcement last April, we’ve released a total of 10,000 vehicles from the very beginning, and we see it as a very significant volume. We’re very happy that the market has accepted BYD — its technologies and complete lineup from our BEVs (battery electric vehicles), from the Seagull, the eMax 7, the Dolphin, the Atto 3, the Seal, the Han and the Tang, to our PHEV models: the Sealion 6, the Sealion 5, the Seal 5 Premium and Dynamic, and the Shark 6. So we’re quite happy that the market has positively accepted our vehicles and technology.

At BYD, we’d like to cater to each and every segment. To date, we already have released a total of 12 models, 12 new energy vehicles since the very beginning. And we’re not stopping. We will ensure that we get to cater to each segment in the Philippine market.

Are more buyers or browsers cognizant of EVs?

The awareness of our consumers is increasing, I would say, rather quickly. A lot of car buyers in the Philippines are actually already aware of the BEV technology that BYD has, but we are not going to stop helping everyone — to educate people and tell the story about EVs (including) what benefits they can get, how they can save on the long term and, more importantly, save the environment as well.

As we progress toward the end of the year, ACMobility also is on track to release a total of 700 charging points across the Philippines that will help EV adoption (happen) faster. That’s our main objective, and we will not stop in continuously sharing more information and educating the market on the benefits of EV ownership.

How does BYD as a brand fit into the Ayala Group’s vision toward carbon neutrality in its operations? How are you leveraging your affinity or your membership in this group to give BYD sort of a leg up in terms of pushing it to the customers?

Actually, it’s a match made in heaven. I would say that the mission and objectives of Ayala, ACMobility, as well as BYD, are aligned and are moving forward rather quickly in order for us to be able to tap more of the Philippine market. Using Ayala synergies, we work closely with different groups because even Globe has a separate commitment in terms of sustainability efforts; same goes with Ayala Land and others.

So there’s an alignment within the Ayala Group?

Definitely, from the purchase of vehicles, to infrastructure, to overall sustainability of the entire group.

The rollout pace of BYD models has been brisk. Do you think that this synergy realized in the Ayala Group also benefits your sales goals in over the long term?

I think it could be a win-win for everyone within the Ayala Group. I think it’s beneficial for everyone (allowing us) to move faster and quicker. That’s happening today.

Marriott to open 3 new hotels in PHL in November

September 29, 2025 | 12:05 am

Fairfield — FAIRFIELD by Marriott Cebu Mactan — MARRIOTT.COM

By Beatriz Marie D. Cruz, Reporter

AMERICAN hospitality group Marriott International, Inc. is set to add three properties to its Philippine portfolio this November, with openings in Mandaluyong, Batangas, and Cebu.

“We have three additions to the portfolio in the month of November, taking us to 13 open and operating hotels,” Bruce Winton, area general manager – Philippines at Marriott International, told BusinessWorld on the sidelines of the Arangkada Forum last week.

Mr. Winton was referring to AC Hotel Ortigas in Pasig City, which will have 150 rooms, and Fairfield by Marriott Cebu Mactan, with 196 rooms.

AC Hotels, Marriott’s upscale business hotel brand, has over 150 hotels worldwide. Fairfield by Marriott, in the upper-midscale segment, has more than 1,000 properties globally.

Marriott is also scheduled to reopen The Farm at San Benito this November, rebranding the property as the Philippines’ first Autograph Collection resort.

The relaunch of the eco-luxury medical wellness resort was formalized through a partnership between Marriott and Nepal-based CG Hospitality Global, the companies announced in May.

The Autograph Collection, Marriott’s premium hotel brand, has a portfolio of over 100 upscale hotels globally.

Mr. Winton remains optimistic about Marriott’s performance in the Philippine market, noting year-on-year growth in revenue per available room.

He also cited strong demand at Marriott properties in key tourist hubs such as Metro Manila, Clark, Pampanga, and Cebu.

The company expects robust growth in the fourth quarter through January next year, amid the holiday season.

“Filipinos do everything in the fourth quarter, right? So, we’re looking forward to a very robust three-month period for us,” Mr. Winton said.

“We’d like to capitalize on the high occupancy that we have and capture more share and more bookings in our restaurants.”

Marriott has a portfolio of over 1.7 million rooms across 9,500 properties worldwide.

In the Philippines, it operates hotels and resorts under brands including Sheraton, Westin, JW Marriott, Courtyard by Marriott, and Four Points.

Fiction writer Greg Brillantes, 92

September 29, 2025 | 12:05 am

AWARD-WINNING fiction writer, author, essayist, and editor Greg Brillantes passed away at the age of 92 on Friday morning.

“My Tito Greg, Gregorio Concepción Brillantes, passed away at 7:24 in the morning today,” the late writer’s nephew Joey Brillantes said in a Facebook post on Sept. 26.

Born in Camiling, Tarlac, on Dec. 18, 1932, Mr. Brillantes studied literature at the Ateneo de Manila University. Over the course of his life, he published a number of short story collections, including Help, On a Clear Day in November, Shortly Before the Millennium, and Stories for a Quarter Century.

Mr. Brillantes’ most celebrated stories are “The Distance to Andromeda,” “The Apollo Centennial,” and “Faith, Love, Time, and Dr. Lazaro.” His work served as “a bridge between post-war literary modernism and the evolving concerns of late 20^th century Philippine society,” according to his nephew.

“Unlike some writers who turned to long form or overt political tract, he remained largely within the short story form — and used that constraint to distill character, mood, and moral paradox,” he said in his Facebook tribute.

Multiple literary honors had been awarded to Mr. Brillantes in his lifetime, including many Carlos Palanca Memorial Awards, which earned him a spot as a Palanca Awards Hall of Famer. His lifetime achievement awards include the Gawad CCP Para sa Sining from the Cultural Center of the Philippines and the Gawad Pambansang Alagad ni Balagtas from the Writers’ Union of the Philippines (UMPIL).

With a body of work that often tackled estrangement from family, society, and self, Mr. Brillantes was known for probing moral, existential, and spiritual questions using surreal and futuristic motifs.

He also made his mark outside of Philippine English fiction, as editor and mentor at publications like Sunburst, The Manila Review, Focus, Asia-Philippines Leader, and the Philippines Free Press.

Following a fall in 2015 and a hip injury in 2017, he remained an active writer. His last project was The Collected Stories of Gregorio C. Brillantes, published in 2023 by the Ateneo de Manila University Press, gathering his best pieces from the 1950s to the 2000s. The collection was recognized as the Best Book of Short Fiction in English by the 42^nd National Book Awards.

In a Facebook tribute, the Ateneo de Manila University Press called him one of the greatest Filipino writers, the master of the Filipino short story, and the godfather of Philippine speculative fiction.

“He will be remembered by all whose lives were touched by his stories for his immense contributions to Philippine literature,” they said. “His legacy lives on.”

The Philippines Graphic also extended its condolences to the Brillantes family, for the loss of “a dear editor, fictionist, poet, and essayist.”

Many writers mourned his passing. Jose “Butch” Dalisay said in a Facebook post: “Another great Filipino writer passed away today, one who was special to me — as hero, mentor, and friend.”

Referencing one of Mr. Brillantes’ best-known short stories, he concluded, “Here’s to faith, love, time, and Greg Brillantes.” — BHL

Enhanced alignment, broader culture for stronger cyber defenses

September 29, 2025 | 12:05 am

BusinessWorld Insight’s Cybersecurity Series kicks off with discussions on securing organizations

By Krystal Anjela H. Gamboa

As digital innovation becomes an imperative in businesses across the Philippines and the risks that accompany have never been more sophisticated, implementation of cybersecurity becomes critical. Whether it may be a multimillion corporation or a small or medium enterprise, businesses have to equip themselves against cyber threats.

Recognizing the need for heightened awareness about cyber threats and wider understanding about cybersecurity, BusinessWorld, together with the Cybersecurity Council of the Philippines (CSCP), has spearheaded a series of BusinessWorld Insights fora, kicking off with a discussion on “Fortifying Cybersecurity Among Organizations” last Aug. 22 at the SEDA Manila Bay Hotel in Pasay City.

The series is part of BusinessWorld’s and PhilSTAR Media Group’s advocacy campaign that aims to forge partnerships between the government and businesses for better cybersecurity legislation; to educate the public on cybercrime prevention; and to increase awareness among sectors of the importance of cybersecurity.

“We are raising a call for a nation more empowered to defend itself against cyberthreats and cybercriminals. Cybersecurity is not solely a concern of our IT teams, but rather a foundational business imperative and a shared national responsibility,” BusinessWorld’s Executive Vice-President Lucien C. Dy Tioco said in his welcome address.

CSCP Founding Chairman Donald Patrick L. Lim shared the same sentiments in his keynote, noting that cybersecurity is becoming the backbone of governance and corporate survival as businesses integrate advanced technology into their operations.

“There is no gray area. It’s either you’re secure or not secure,” he said.

The forum gathered business, technology, and cybersecurity experts to identify the top cybersecurity threats businesses face today and to explore the strategies that can be employed in response to these threats.

The rise of cyberthreats

As the workplace is no longer confined to office cubicles and desktop computers, there has been an ever-expanding network growth in today’s hybrid setups. If not protected, these connections can be exploited by cybercriminals.

ePLDT and PLDT Enterprise Field CISO and Cybersecurity Product Head Alexis Bernardino

“Attackers are no longer breaking in, they are just logging in,” Alexis Bernardino, Field CISO and Cybersecurity Product Head at ePLDT and PLDT Enterprise, stressed during the first panel discussion.

Such cyberattacks have risen dramatically in recent years. As technology evolves, so does the crimes. What used to be simple viruses have evolved into highly organized and well-funded operations. Hence, companies can no longer afford to treat cybersecurity as an afterthought. One breach can wipe out years of hard work, drain finances, and destroy reputations.

As the Philippines accelerates its digital transformation — from embracing cloud platforms, e-wallets, to online government services — the country has also become a growing target. Ransomware has evolved into an industry of its own. Insider threats continue to undermine security from within.

Information Security Officers Group (ISOG) President Chito Jacinto

“You don’t ask what you will do if you get breached, but what you will do when you get breached,” Chito Jacinto, president of the Information Security Officers Group (ISOG), emphasized.

On public-private collaboration

No one can stand alone against the speed of today’s cyber threats. Public and private collaboration extends beyond crisis response. It also involves long-term capacity-building such as joint training programs, research funding, and policy development.

While private sectors contribute expertise and resources, the government can craft frameworks that incentivize compliance and penalize negligence.

Police Colonel Jay Guillermo, chief of the Cyber Response Unit of the Philippine National Police Anti-Cybercrime Group, heeded the needed teamwork.

PNP Anti-Cybercrime Group Cyber Response Unit Chief Police Colonel Jay Guillermo

“We need a collaboration between private organizations and law enforcement. Investigations and police work are reactive,” he said. “Cybersecurity needs to be proactive.”

For workplaces, this will translate into strengthened protections: businesses gain access to more reliable security services and better-prepared employees. The government, then, will benefit from private sectors that are aligned with national cybersecurity goals.

Ultimately, in a digital economy where threats recognize no borders or industries, the only defense that is most effective is one built on trust and cooperation across sectors. This dual approach ensures that efforts are not fragmented, but sustainable.

Integrating AI into defenses

With its continuing relevance, artificial intelligence (AI) is positioned as a powerful defender. Since it can analyze billions of data in real time, it can flag unusual behavior such as suspicious logins or abnormal file transfers. Additionally, with its predictive systems feature, it can anticipate incoming attacks by studying existing patterns, reducing response times.

Yet, AI can also be a weapon for attackers. Cybercriminals have been utilizing it to craft phishing emails, generate deepfake voices, and deploy bots that test passwords or scan systems for vulnerabilities at scale.

“Every access point in your infrastructure is a valid entry point for cyber breaches,” Mr. Bernardino lamented. “They don’t even have to be sophisticated attacks, but simple attacks like email phishing and scams. What more with sophisticated AI?”

There had been calls for the government to pass legislations to protect the digital infrastructure, particularly in the usage of AI. As Mr. Jacinto of ISOG stated, “We don’t see much of an improvement in terms of implementation right now. The capabilities of the Data Privacy Act are not sufficient or clear enough.”

The urgency is clear: as more workplaces adopt AI and expand digital operations, legislations must also evolve just as fast. Without laws, businesses will remain vulnerable, and public trust in digital transformation could be compromised.

Cybersecurity culture

Despite advanced firewalls, AI-driven detection systems, and encryption protocols, the biggest vulnerability remains human error.

PwC Philippines Risk Services — Cybersecurity and Privacy Executive Director Mark Anthony Almodovar

To counter this, organizations are now recognizing that cybersecurity is not simply a technical issue, but a cultural one. Assessing a workforce’s knowledge and capacity with cybersecurity and equipping them with the knowledge will be key, as PwC Philippines Risk Services — Cybersecurity and Privacy Executive Director Mark Anthony Almodovar noted.

“Rather than saying people are the weakest links, think of people as the most important assets. Test your people. If you don’t test your people, they will not be able to protect against what is new to them,” he said during the second panel discussion.

GCash Chief Information Security Officer Miguel Geronilla

Companies have been investing in cybersecurity training for their employees to equip them with knowledge to identify and respond to such risks, as GCash Chief Information Security Officer Miguel Geronilla shared.

“Having a security-first mindset means always thinking of security every day,” he said. “We must be secure by default, and that means being able to do secure practices on our own. It’s not about the usual awareness, but embedding it into everyday practices.”

Carmelo Rondain Alcala, a board of trustee of ISACA Manila Chapter, reiterated the four attributes of control, which organizations should couple with their people upskilling efforts.

ISACA Manila Chapter Board of Trustee Carmelo Rondain Alcala

“Policies and procedures, configurations, monitoring, reporting — without these four attributes of control, your cybersecurity is weak,” Mr. Alcala said.

Such actions must involve education and awareness, where said training sessions keep the employees alert. Clear policies should also be held where leaders must be set as an example.

By cultivating a culture of vigilance, alongside investing in advanced technologies and preparations for inevitable threats, organizations can safeguard their digital frontlines and so gain more confidence to thrive in more digital world.

“Cybersecurity is only as tough as the people using them. This is why culture matters, from the CEO down. It’s not simply a boardroom topic,” CSCP Executive Director and Co-Founder Julian Louie Singson shared in his closing remarks synthesizing the discussions.

CSCP Executive Director and Co-Founder Julian Louie Singson

As the future brings new technology-driven opportunities, cyber threats will also come along. A secure digital environment has become more vital for organizations to gain trust from stakeholders and to build resiliency within. This calls for enhanced initiatives within organizations for firmer public-private alignment among stakeholders, stronger data protection across departments, and wider cybersecurity culture in the workplace.

Two more fora are under way for BusinessWorld Insight’s Cybersecurity Series, followed by a culminating Cybersecurity Summit in March next year.

This BusinessWorld Insights forum was presented by BusinessWorld Publishing Corp. and GCash, in partnership with the Cybersecurity Council of the Philippines, sponsored by PLDT, and supported by the Asian Consulting Group, American Chamber of Commerce of the Philippines, British Chamber of Commerce of the Philippines, Bank Marketing Association of the Philippines, CCI France Philippines, the Information Security Officers Group, Management Association of the Philippines, Philippine Chamber of Commerce and Industry, Philippine Franchise Association, Philippine Retailers Association, with official media partner The Philippine STAR.

Work from paradise: Astoria Boracay as a haven for remote work & bleisure

September 29, 2025 | 12:05 am

As remote work and hybrid setups become more common, digital nomads are transitioning from office cubicles to vibrant cafés, serene gardens, or refreshing beach views. Welcome to the bleisure life!

At the forefront of this is Astoria Boracay, a haven that perfectly blends productivity and paradise on the powdery white sand shores of Station 1. The resort provides a refreshing backdrop for remote work, combining the signature warmth of Filipino hospitality with world-class service.

A Workspace with a View

Set up your laptop in an open-air space at the resort, where the fresh island breeze and panoramic ocean views boost your creativity. Whether you are attending virtual meetings or racing against deadlines, you will find that the resort’s poolside loungers and pristine beachfront transform work into a delightful experience. For those moments when you crave tranquility, retreat to the resort’s lush garden and soak in the stunning views all around you.

Suites Designed for Every Work Style

If you prefer cozy and luxurious space, the exquisitely designed rooms and suites at Astoria Boracay are perfect for you. Each accommodation offers stable internet, spacious desks, and modern amenities tailored for today’s professionals.

Envision yourself in the Premier Room, with a private veranda that lets in gentle breezes — your tranquil oasis for uninterrupted focus. Imagine stepping straight from your Deluxe or Standard Room into the inviting pool for a refreshing break between tasks.

Crafted for Modern Meetings

When it is time to collaborate, Astoria Boracay’s meeting spaces are equipped with modern facilities that cater to both hybrid and in person gatherings. Choose from three function rooms: Cerulean Ceylon, Cerulean Blue, and Ceylon Blue. Each room is equipped with audio-visual technology and offers flexible seating options to suit your needs. Host your team meetings in comfort, accommodating groups of 30 to 80, and ensure that productivity remains a top priority.

The After Hours

After wrapping up your day’s work, let the charm of Boracay’s water sports draw you just outside the resort. If you’re someone who thrives on staying active, don’t miss a trip to Astoria’s gym, where you can enjoy stunning views of the lively surroundings. Prefer to unwind in solitude? Escape to your suite and indulge in a soothing in-room massage for a touch of luxury that will elevate your island getaway.

Wind down with a hearty buffet of international and local fresh cuisines at White Café, where acoustic nights create the perfect atmosphere for relaxation. From sunrise adventures to sunset cocktails, every moment at Astoria Boracay is crafted to recharge your spirit.

Your dream office by the sea is waiting for you!

Here, professional goals and personal fulfillment effortlessly coexist, proving that the office of the future can indeed be a beachfront suite overlooking Boracay’s legendary sunsets.

Contact the Astoria Boracay team today for reservations via email reservations@astoriaboracay.com, mobile (+63) 908-872-7922, or landline (+63 2) 8687-1111 locals 8739, 8740, 8738, and 8737.

Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by publishing their stories on the BusinessWorld Web site. For more information, send an email to online@bworldonline.com.

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PLDT Home accelerates fiber growth, delivers strong H1 performance

September 29, 2025 | 12:05 am

John_Palanca_PLDT-OL — John Y. Palanca, SVP and Head of PLDT Home Business

PLDT Home accelerated its fiber-led growth in the first half of 2025, with fiber-only revenues rising 7% year-on-year to ₱29.5 billion. Fiber now accounts for 97% of Home revenues, underscoring PLDT’s continued transition away from legacy technologies. Overall, Home revenues grew 4% year-on-year to ₱30.4 billion, driven by aggressive fiber expansion, bundled services, and enhanced customer engagement.

“Our growth reflects the increasing demand for high-speed connectivity and value-rich digital experiences,” said John Y. Palanca, SVP and Head of PLDT Home Business. “We’re expanding our fiber footprint while delivering bundled services that meet evolving customer needs.”

In the first half of 2025, PLDT Home sustained its premium ARPU and grew net additions, which highlights the value and strength of its services that drive customers’ continued trust.

The telco added 169,000 new fiber subscribers in H1, tripling last year’s net additions and bringing total connections to 3.53 million.

This growth momentum goes beyond its network expansion, but also about delivering bundled lifestyle services, superior customer care, and personalized digital engagement. Flagship bundles such as Fiber Unli All and Fiber Plus Netflix, continue to attract subscribers with their mix of broadband, mobile, and content services. Over 80% of new customers in Q2 opted for higher-value plans priced at ₱1,299 and above, helping drive the industry’s highest average revenue per user (ARPU) at ₱1,485.

Customer service innovations such as faster installations, AI-powered support, and improved repair times have strengthened retention, keeping churn at the industry’s lowest rate, 1.93%.

PLDT Home is also tapping new household segments through Fiber Prepaid, designed for families who prefer the flexibility of prepaid services. Early results show that a disciplined and selective rollout of the prepaid service is gaining traction as ARPU levels have remained healthy, indicating that growth is incremental rather than shifting away from postpaid.

PLDT Home continues to play a critical role in enabling participation in the digital economy. The ongoing expansion of its fiber footprint increases accessibility to high-speed connectivity in more parts of the country. The PLDT Group’s fiber footprint remains the most extensive in the Philippines at around 1.2 million cable kilometers. Homes passed reached 19.01 million in 74% of the country’s towns and 91% of total provinces.

Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by publishing their stories on the BusinessWorld Web site. For more information, send an email to online@bworldonline.com.

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T-bill yields may drop as market eyes BSP, Fed

September 29, 2025 | 12:05 am

RATES for the Treasury bills (T-bills) to be auctioned off this week could continue to go down to track yield movements at the secondary market as players continue to monitor statements from officials of both the Bangko Sentral ng Pilipinas (BSP) and the US Federal Reserve on their respective policy paths.

The Bureau of the Treasury (BTr) will auction off P22 billion in T-bills on Monday, or P7.5 billion each in 89-day and 182-day securities, and P7 billion in 364-day papers.

The three-month tenor’s maturity was adjusted from the usual 91-day term due to holidays.

T-bill yields could track the slight week-on-week decline seen for comparable benchmarks at the secondary market due to bets on the next moves of the BSP and the Fed, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

Last week, BSP Governor Eli M. Remolona, Jr. said they could lower benchmark rates further as early as next month if the economy shows signs of losing momentum.

The Monetary Board last month slashed borrowing costs by 25 bps for a third straight meeting to bring the policy rate to 5%. This brought cumulative cuts since August 2024 to 150 bps.

Mr. Remolona has described the policy setting as a “Goldilocks rate,” balancing inflation and growth.

“So, if the forecast stays… we’re going to stay where we are in terms of the policy rate. There may be small adjustments — a pause or an ease — but more or less, we’re going to be at the same range.”

He said 25-bp reductions at each of their October and December meetings are “possible but not likely.”

Meanwhile, the Fed this month lowered its target rate by 25 bps to the 4%-4.25% range, which was its first cut since December. This brought its total reductions since September 2024 to 125 bps. Its “dot plot” showed projections of two more rate cuts this year.

Mr. Powell said on Tuesday the central bank needed to continue balancing the competing risks of high inflation and a weakening job market in coming interest rate decisions, even as his colleagues staked out arguments on both sides of the policy divide, Reuters reported.

Market sentiment has also been affected by increased political noise due to the corruption allegations related to infrastructure projects, Mr. Ricafort added.

An ongoing Senate probe into anomalous flood control projects has led the National Bureau of Investigation to recommend the prosecution of several lawmakers and officials of the Department of Public Works and Highways.

At the secondary market on Friday, yields on the 91-, 182-, and 364-day T-bills dropped by 1.04 basis points (bps), 3.41 bps, and 4.34 bps to end at 4.9354%, 5.1635%, and 5.2607%, respectively, based on PHP Bloomberg Valuation Service Reference Rates data as of Sept. 26 published on the Philippine Dealing System’s website.

“We expect trading to consolidate at these levels towards the quarter end before players begin to pick up again,” a trader said in an e-mail on Friday.

Last week, the government raised P25 billion as planned from the T-bills it auctioned off as the offering was nearly five times oversubscribed, with total bids reaching P117.84 billion.

Broken down, the Treasury borrowed the planned P8.5 billion via the 90-day T-bills as total tenders for the tenor reached P35.805 billion. The three-month paper was quoted at an average rate of 4.883%, down by 6.7 bps from the previous auction. Yields accepted were from 4.815% to 4.924%.

The government also raised P8.5 billion as programmed from the 182-day securities as tenders amounted to P41.35 billion. The average rate of the six-month T-bill was at 5.081%, easing by 6.7 bps from the previous week, with accepted rates spanning from 5.025% to 5.11%.

Lastly, the Treasury sold P8 billion as planned in 364-day debt as demand for the tenor totaled P40.685 billion. The average rate of the one-year T-bill dropped by 7.7 bps to 5.195%. Bids awarded carried yields from 5.145% to 5.244%.

The BTr is looking to raise P180 billion from the domestic market this month, or P110 billion via T-bills and P70 billion through Treasury bonds.

The government borrows from local and foreign sources to help fund its budget deficit, which is capped at P1.56 trillion or 5.5% of gross domestic product this year. — A.M.C. Sy

Wildin’ Out

September 29, 2025 | 12:04 am

VELO_PAGE2_image1 — More aggressive than ever: The Ford Everest Wildtrak is predicated on the brand’s “Can’t Fake Tough” mantra. — PHOTO BY PABLO SALAPANTAN

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The Ford Everest Wildtrak introduced at Island Conquest

By Pablo Salapantan

FORD IS CAPITALIZING on the hype and success of the Ford Everest with the launch of a highly anticipated variant, the Wildtrak.

Ford Philippines announced a few weeks ago that the Everest Wildtrak would be making its official debut. This comes after the brand sold the Wildtrak in limited numbers a few years ago. To formalize the launch, the company used the latest installment of the Ford Island Conquest recently held in SM Megamall as an occasion for the public to see the Wildtrak in the sheet metal for the first time.

The Wildtrak’s 4×2 and 4×4 variants now take over as top-of-the-line specimens in the Everest lineup. Predicated on Ford’s “Can’t Fake Tough” mantra, the Wildtrak bears new design cues as well: A unique grille with accent colors, Wildtrak-exclusive bumpers and fender flares in Bolder Grey, and a 3D “WILDTRAK” liftgate badge. Matrix LED headlamps with adaptive front lighting, 20-inch machined alloy wheels, dual recovery hooks, and a stand-off roof rail give the Everest Wildtrak a strong, premium stance. A panoramic moonroof completes the adventurous look — admitting more natural light and expansive views in every drive.

There is new orange stitching that complements the interior, along with Wildtrak badges found on the seats as well. According to the brand, the Wildtrak aesthetic ensemble is mainly for those looking for a more rugged and adventurous look compared to the “tamer” Titanium variants.

Powering the Everest Wildtrak are the familiar choices of engine and transmission pairings, with the 2.0L Turbo variant producing 170ps and 405Nm of torque. This mill is paired with a six-speed automatic transmission in the 4×2 version. For drivers seeking maximum performance, the 2.0L Bi-Turbo pushes output to 210ps and 500Nm, matched with a refined 10-speed automatic transmission in the 4×4.

One interesting feature about the 4×2 Wildtrak variant is that it’s the only 4×2 in the whole lineup that comes standard with advanced driver assistance system features like adaptive cruise control, lane keep assist, and many more.

Prices for the 2026 Ford Everest Wildtrak start at P2.379 million for the 2.0L Turbo 4×2 and P2.64 million for the 2.0L Bi-Turbo 4×4. Its exclusive colors include Luxe Yellow (limited units available), Blue Lightning, Absolute Black, Meteor Grey, and Snowflake White Pearl (for an additional P20,000). Every Everest Wildtrak comes standard with Ford’s five-year/150,000-km warranty, whichever comes first.