Facebook Instagram Linkedin Twitter Youtube
Home Blog Page 596

Gallup: Filipinos Trust Law Enforcement but Safety Concerns Linger

The Philippines’ trust in the police and local institutions was moderately strong but concerns on personal safety persists, based on the 2025 Global Safety Report by Gallup. The report assesses how safe people feel in their communities and gauges their sense of security and how they trust their local police. The safety index is measured by percentage while the law and order index is scaled from 0 to 100, with higher scores indicating that people feel safer.

Filipinos Trust Law Enforcement but Safety Concerns Linger

How PSEi member stocks performed — September 23, 2025

Here’s a quick glance at how PSEi stocks fared on Tuesday, September 23, 2025.

PHL consumer-driven growth fueled by borrowing, ANZ says

PJCOMP-FREEPIK

PHILIPPINE private consumption sets it apart in a region where such spending is more muted, ANZ Research reported, warning that credit card debt and salary loans are fueling the growth more than asset-creating loans like mortgages.

In its fourth quarter report, ANZ Research said household consumption accounts for over 70% of gross domestic product (GDP), but “growth in borrowings for asset creation (that is, mortgages) has been relatively muted, underscoring household concerns over income prospects. This pattern of spending is unhealthy.”

ANZ said domestic demand across Asian economies has softened, holding back growth, but the Philippines stands out as an exception.

“Except the Philippines, the private consumption impulse or the flow of new consumption relative to GDP, has either moderated or remained static in most economies,” it said.

Philippine GDP grew 5.5% in the second quarter, supported by a rebound in agricultural production and an acceleration in household spending.

Household final consumption expenditure rose 5.5% during the period.

ANZ Research flagged sluggish retail and auto sales as “frequency indicators” of weaker domestic demand in the region.

“As we have stressed in the past, the post-pandemic nature of job creation has been concentrated in low-paying jobs in segments like food and accommodation, which in turn has impacted consumption,” ANZ Research added.

The Bangko Sentral ng Pilipinas, citing preliminary data, reported that consumer loans grew 11.8% in July, slowing from 12.1% a month earlier.

Meanwhile, credit card loans rose 29.2% year on year in July from 29.9% in June. — Aubrey Rose A. Inosante

Farmers see no improvement in farmgate price of palay after 3 weeks of rice import freeze

REUTERS

THE FARMGATE PRICE of palay (unmilled rice) has not improved despite a 60-day ban on rice imports which had been designed to provide relief for rice cultivators, a farm industry group said.

Jayson H. Cainglet, executive director for Samahang Industriya ng Agrikultura, said farmgate prices remain at P10-P12 per kilogram of palay.

In Tarlac, Pampanga, Nueva Ecija, Pangasinan, La Union, Bulacan, and Isabela, prices have even  gone down to P8 per kilo, he added.

The presence of cheap imported rice in the market is employed as leverage against domestic farmers, allowing traders to negotiate low prices to acquire the domestic harvest. The National Food Authority tries to offer palay buying prices that allow farmers to earn a return on their crop, but can only buy and store a small percentage of the domestic harvest. 

Mr. Cainglet, when asked whether he supported an extension of the ban, which started on Sept. 1, said: “Even if you extend it, peak harvest is over by the end of November.”

Farmers have begun to harvest despite the low farmgate price, he said, with such operations peaking in October, where prices could rise, he said.

He expressed support for the return of the 35% rice import tariff for Southeast Asian grain and 50% for rice originating elsewhere.

“We are also requesting a subsidy support price for palay of P5 per kilo on top of the current price, so farmers may stay competitive in the market,” Mr. Cainglet said. — Andre Christopher. H. Alampay

Flood-control contractor Hi-Tone also awarded Port of Tacloban upgrade project, regulator says

ICTSI

A LEADING flood-control contractor was also awarded a Tacloban port upgrade contract in 2024, the Philippine Ports Authority (PPA) said.

Hi-Tone Construction and Development Corp. was issued a notice of award for the P263.64-million upgrade of the Port of Tacloban on Jan. 29, 2024, the PPA said.

Hi-Tone, founded by Christopher S. Co, was among the 15 contractors that were identified cornering more than P100 billion worth of flood control projects between July 2022 and May 2025.

Mr. Co was an unsuccessful candidate for Congress in Albay in 2025. His brother is Rep. Elizaldy S. Co of the Ako Bicol party-list.

Rep. Co is himself the founder of Sunwest, Inc. another leading flood-control contractor. Rep. Co has said he has since divested from Sunwest.

Hi-Tone beat out four other bidders for the Tacloban project and passed the PPA’s post- qualification evaluation.

Asked to provide further comment, the PPA said the Tacloban Port project was 78% complete as of Aug. 25.

The contractor has completed the reinforced concrete pier component of the project, which is ready for turnover, the PPA said, Meanwhile, the roll-on/roll-off (RoRo) ramp remains under construction.

“The contractor has committed to complete the ramp within the next three months,” the PPA said.

“Amidst current challenges in flood control and infrastructure development nationwide, PPA underscores that only contractors who have passed the proper government bidding and procurement processes are awarded projects,” it said.

Nigel Paul C. Villarete, senior adviser on PPP (public-private partnership) at the technical advisory group Libra Konsult, Inc., said via Viber:

“It would certainly be advisable for closer and more serious consultations to take place, if only to further protect the integrity of the procurement process of the national government.”

Sunwest submitted bids for at least nine port projects in 2024 and 2025 including the P704.55-million Puerto Galera cruise terminal project, the P632-million Tagbilaran port expansion project, the P606.53-million expansion of the Port of Tapal in Bohol. It also bid for the Tacloban Port project  awarded to Hi-Tone.

“It would be advisable to review the award, for prudence, after Hi-Tone’s association in the flood control scandal. But if Notice to Proceed has been issued, it may be too late,” Rene S. Santiago, former president of the Transportation Science Society of the Philippines said via Viber.

Sunwest and Hi-Tone were among the top 1,000 largest companies in the Philippines, according to the 2024 edition of BusinessWorld Top 1000 Corporations in the Philippines.

Sunwest placed 286th in gross revenue in 2023, while Hi-Tone Construction ranked 642nd. — Ashley Erika O. Jose

Palace details key features of newly signed RoW law

PHILIPPINE STAR/WALTER BOLLOZOS

THE recently signed Accelerated and Reformed Right-of-Way (ARROW) will aid the Philippines in becoming an upper middle-income economy by facilitating the completion of infrastructure projects, the Presidential Communications Office (PCO) said in a statement on Tuesday.

The ARROW Act or Republic Act No. 12289, which revised key provisions of the 2016 Right-of-Way Act (R.A. No. 10752), overhauls the land acquisition process, compensation standards, expropriation and relocation rules governing infrastructure projects.

The PCO said the amended Section 10 of the law designates Republic Act No. 11966, or the 2023 Public-Private Partnership Code of the Philippines as the relevant document governing right-of-way acquisition in public-private partnership projects.

Meanwhile, compensation for affected land, structures, improvements, and immovable machinery will be determined according to the provisions of the New Civil Code, the PCO said.

The ARROW Act updates also require agencies and private concessionaires to make a deposit  on properties contemplated for acquisition, including crops, trees, and improvements, equivalent to 15% of market value.

Market value was defined as full replacement cost, accounting for depreciation.

The new law ties compensation to the schedule of market values set by the 2024 Real Property Valuation and Assessment Reform Act.

If no schedule is available, payments will instead refer to the Bureau of Internal Revenue zonal valuation and the assessed worth of improvements — such as immovable machinery, structures, crops, or trees.

For untitled land, owners or possessors must present a tax declaration, affidavits from disinterested local residents, a real property tax certificate, a certification from the Department of Environment and Natural Resources, and a technical description of the property.

The new relocation rules require the Department of Human Settlements and Urban Development to work with local governments in establishing and developing resettlement sites for informal settlers.

Section 12 holds private firms civilly or criminally accountable in the event of violations, including company presidents, managers, directors, and trustees.

President Ferdinand R. Marcos, Jr. signed into law Republic Act No. 12289 on Sept. 12. — Chloe Mari A.  Hufana

WB digital infra loan stalled by late arrival of PHL funding

REUTERS

PHILIPPINE plans to build out its public broadband infrastructure network aided by a $287.24-million World Bank (WB) loan were delayed for nearly a year while the government rounded up the funding for its share of the project cost, the bank said.

“The pace of implementation has been affected by the extended process of obtaining budget cover,” the bank said in its implementation status report dated Sept. 22.

The $287.24-million loan for the Philippine Digital Infrastructure Project has yet to be disbursed after the project was approved in October 2024.

“Preparations for key project initiatives are well advanced and are ready to move forward,” the bank said, noting that budget cover was put place on Sept. 15.

Multilateral lenders require their borrowers to partly fund joint projects to make the host government less likely to abandon projects.

In its website, the World Bank said the project aims to improve climate-resilient, secure, and inclusive broadband connectivity. Its components include the backbone network, the middle-mile network, the access network or last mile, and project management support. 

The first three components of the project will invest in the government fiber optic backbone and the middle mile segment at the national level, as well as last-mile connectivity in Mindanao.

The project’s overall risk rating remains substantial but the progress towards achievement of the project development objective and overall implementation progress were downgraded to moderately satisfactory from satisfactory.

The project is being implemented by the Department of Information and Communications Technology.

Budget Secretary Amenah F. Pangandaman has said that foreign-assisted projects funding will be covered in the budget this year and in the proposed 2026 National Expenditure Program. — Aubrey Rose A. Inosante

Industry groups propose tariff treatment of sugar, other farm products in EU FTA

WIKIMEDIA.ORG/PATRICKROQUE01

INDUSTRY GROUPS have put forward their proposals for the tariff regimes that will govern agricultural products like sugar, milk powder, beef and pork, under the European Union (EU)-Philippines Free Trade Agreement (FTA), the Tariff Commission said.

The industry proposals were released at a Tariff Commission hearing ahead of the planned exchange of market access offers between the Philippines and the EU, who are expected to wrap up negotiations next year.

The two sides are expected to exchange market access offers soon.

“Our recommendation would obviously be exclusion of sugar from the FTA for now, but then we will be studying the possibility if we could have a specific tariff line for muscovado sugar,” Rosemarie S. Gumera, representative of the Confederation of Sugar Producers, said on Tuesday.

Muscovado is an unrefined form of sugar that retains its molasses content.

Ms. Gumera, who is also a former official with the Sugar Regulatory Administration, said the market for muscovado is different from the market for raw and refined sugar.

“The EU is one of our main markets for sugar. Japan is number one. But our concern is mainly for muscovado sugar because most of our small planters are dependent on the production of muscovado,” she added.

Jesus L. Barrera, executive director of Philippine Sugar Millers’ Association, Inc., said the exclusion of raw and refined sugar from the FTA is based on the EU’s status as mainly a producer of beet sugar.

“There are only two countries in the EU that produce sugar from cane, which are Portugal and France. So even though the EU reduces the tariff on sugar, since raw sugar from cane is produced only in two countries, you have to have arrangements with certain companies in France and Portugal,” he said.

“They’re the only ones who can process your raw exports into refined sugar,” he said.

Teodoro Alexander T. Po, vice chairman, president, and chief executive officer of Century Pacific Food, Inc., said he is hoping to see the Philippines offer duty-free access for European milk powders, beef, pork, and beef offal, and for tin plates.

He said these products are produced in small quantities in the Philippines and are used by domestic manufacturers for both their local exported products.

Imelda J. Madarang, chief executive officer of Fisherfarms, Inc., said the industry wants the FTA to help exporters address non-tariff barriers, noting the EU’s rules governing packaging and ingredients, among others.

“We’re really happy about the tariff, but it is actually the non-tariff measures that we are encountering,” she said.

Lattice Angelique Andriano of the Department of Trade and Industry’s Bureau of International Trade Relations said the fourth round of the negotiations will be held on Oct. 20-24 in Cebu City.

“Chapter leads will continue with text-based negotiations with an aim to clean as many articles as possible, given the timeline [that we are working on],” she said.

“And both sides will aim to exchange market offers for goods, services, investment, and government procurement before the fourth round, if not within this month,” she added.

According to Ms. Andriano, both sides are hoping to fast-track negotiations with the aim of concluding them by mid-2026, or ahead of the expiration of the Generalised Scheme of Preferences Plus in 2027. — Justine Irish D. Tabile

Farmers in spotlight at NFA Cebu fair

PHILIPPINE STAR/MICHAEL VARCAS

THE National Food Authority (NFA) organized a fair on the grounds of its Cebu regional office to celebrate Cebu produce, which will run until Sept. 26.

Apart from rice, the fair features fresh fruit, vegetables, root crops and Cebu delicacies, the NFA said.

Department of Agriculture Regional Executive Director Angel C. Enriquez said the NFA plays a key role in ensuring food security in spite of challenges like rising prices and erratic weather.

Region VII, which includes Cebu, had the third-smallest land area dedicated to rice farming of all the regions at 47,797 hectares, according to the Philippine Rice Information System.

According to the Philippine Statistics Authority corn is the leading temporary crop in Region VII, also known as the Central Visayas, while coconut was the leading permanent crop. Hog-raising was the leading livestock industry. — Andre Christopher H. Alampay

Tech training firm AIFirst planning expanded presence in Cebu, Iloilo

FREEPIK

AIFIRST, an artificial intelligence (AI) training provider, is seeking to expand its footprint in Cebu and Iloilo, its founder said.

“The goal is to expand and see what the uptake is like there,” AIFirst Chief Executive Officer and Founder Carlo Almendral said during the launch of the AIFirst Institute on Tuesday.

AIFirst provides hands-on AI bootcamps and founder support to help individuals harness AI effectively.

With the launch of the AIFirst Institute, the organization is looking to train workers based in Cebu and Iloilo, Mr. Almendral said.

It has noted the rapid growth of office developments and educational institutions outside Metro Manila, catering to key industries like finance, healthcare, education, and business process outsourcing.

“The Institute is set to transform the landscape of professional development by offering a comprehensive suite of AI certification programs while generating sustainable funding for nonprofits and corporate social responsibility initiatives,” it said in a statement.

The AIFirst Institute offers 16 AI-specialized programs pitched to college students and professionals across all industries.

AIFirst also offers an executive and professional track with courses like an AI Engineering Bootcamp, AI for Executives and Business Owners programs, and AI courses for HR Professionals, and Data Analysis.

The training programs charge between P1,000 and P50,000, and last from one day to two weeks.

“In the future, people will have to be their own consultants. They’ll have to run their own businesses and be freelancers,” Mr. Almendral said.

“The earlier we get people to learn stuff like AI, the further they can get ahead,” he added. — Beatriz Marie D. Cruz

PSEi drops to 6,100 level amid corruption issues

BW FILE PHOTO

PHILIPPINE SHARES dropped further on Tuesday, with the main index back at the 6,100 level, as market sentiment was affected by corruption concerns.

The bellwether Philippine Stock Exchange index (PSEi) declined by 1.54% or 96.29 points to close at 6,118.54, while the broader all shares index went down by 0.95% or 35.62 points to end at 3,693.67.

“Prices declined further as investors grew more cautious about the ongoing issues facing the country, which continue to weigh on overall market confidence,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.

“The market continued to retreat to support levels as corruption hearings in the Senate resume,” AP Securities, Inc. said in a market report.

At a Senate Blue Ribbon Committee hearing on Tuesday, a former Department of Public Works and Highways official accused several legislators of receiving payoffs from flood control projects in Bulacan.

Ex-district engineer Henry C. Alcantara said project proponents got as much as 30% of funding intended for flood projects, though he admitted having no direct transactions with the lawmakers.

“Despite the optimistic outlook for additional BSP (Bangko Sentral ng Pilipinas) rate cuts and a stable inflation rate, the market still moved lower, reflecting the prevailing bearish sentiment among participants,” Mr. Limlingan added.

Last month, the Bangko Sentral ng Pilipinas (BSP) lowered borrowing costs by 25 basis points (bps) for the third meeting in a row, reducing the policy rate to 5%. Since August 2024, it has cut benchmark interest rates by a total of 150 bps.

BSP Governor Eli M. Remolona, Jr. said that they could deliver one last cut this year to support the economy if needed, depending on the data.

Most sectoral indices ended in the red on Tuesday. Financials fell by 2.42% or 51.41 points to 2,068.55; services went down by 1.47% or 33.62 points to 2,239.79; holding firms sank 1.45% or 74.20 points to 5,023.04; property dropped by 1.24% or 30.18 points to 2,403.03; and industrials declined by 0.69% or 61.89 points to 8,873.02.

Meanwhile, mining and oil jumped by 3.68% or 436.67 points to 12,293.52.

“The sector counters were all deeply in the red except for mining, which racked up a 3.68% gain on the back of surging gold prices,” AP Securities said.

The metal hit a fresh record at $3,759.02 per ounce to nearly 9% higher for the month so far, Reuters reported.

Value turnover surged to P22.69 billion on Tuesday with 2.72 billion shares traded from the P5.01 billion with 1.19 billion stocks that changed hands on Monday.

Decliners outnumbered advancers, 129 to 78, while 56 names closed unchanged.

Net foreign buying was at P7.05 billion on Tuesday, a reversal of the P343.27 million in net selling recorded on Monday. — Alexandria Grace C. Magno

DoJ seeks freeze of lawmakers’ bank accounts over flood control scandal

PHILIPPINE STAR/MIGUEL DE GUZMAN

By Adrian H. Halili, Reporter Erika Mae P. Sinaking and Kenneth Christiane L. Basilio, Reporter

THE Department of Justice (DoJ) has recommended the freezing of bank accounts of lawmakers accused of getting kickbacks from anomalous flood control projects in Bulacan, Justice Secretary Jesus Crispin C. Remulla told senators on Tuesday.

Appearing before a Senate hearing, Mr. Remulla said the Anti-Money Laundering Council (AMLC) had been given a digital copy of a sworn statement by former Department of Public Works and Highways (DPWH) district engineer Henry C. Alcantara, who earlier claimed that legislators and a DPWH undersecretary had benefitted from the scheme.

“We contacted the AMLC and gave them a digital file of the affidavit, and they started acting on this,” Mr. Remulla said.

Among those named were Senators Jose “Jinggoy” P. Estrada and Emmanuel Joel J. Villanueva, Party-list Rep. Elizaldy S. Co, former Caloocan Rep. Mary Mitzi L. Cajayon-Uy, and ex-Public Works Undersecretary Roberto R. Bernardo.

“We’ve received the referral from the DoJ and are actively working on it,” AMLC Executive Director Matthew M. David said in a Viber message. “The investigation is being fast-tracked, and we’re doing everything we can to move things forward as quickly and thoroughly as possible.”

In a 49-page sworn statement, Mr. Alcantara claimed that the lawmakers had benefitted from funds allocated for flood control projects. He also tagged former Senator Ramon “Bong” B. Revilla, Jr.

Mr. Alcantara alleged that proponents of flood control projects had received as much as 30% of the proposed funding, though he admitted he had no direct dealings with lawmakers.

He said funding for kickbacks from flood control projects came from the General Appropriations Act (GAA) and unprogrammed funds, under the orders of Mr. Bernardo.

He said he had submitted a list of projects to Mr. Bernardo worth P355 million, who then passed it to Mr. Estrada. “I did not have direct transactions or direct communications with Senator Jinggoy,” he told senators.

The former district engineer alleged that there were budget insertions worth P300 million from Mr. Revilla in 2024.

“According to Usec. Bernardo, the GAA insertions in 2024 were worth P300 million. He told me it was for Senator Bong Revilla who was then running for senator in 2025,” he said, adding that there was no direct contact between him and the senator.

Mr. Revilla denied any hand in the flood control scam. “I have nothing to do with any of that,” he said in a Viber message.

“The allegations made against me during today’s Senate hearing are false and baseless,” Mr. Co said in a statement. “I reserve my right to respond to these allegations at the proper time before the proper forum.”

Mr. Alcantara also claimed that Mr. Villanueva had requested P1.5 billion for a multipurpose building but only received P600 million.

“Senator Joel was not happy with this, so we were forced to find a way,” he said. “(He) did not ask for any specific projects or percentage, but Undersecretary Bernardo told me to give an equivalent of P150 million to (Mr. Villanueva).”

During a plenary session, Mr. Villanueva said he was fully prepared to face an investigation of his involvement in anomalous flood control projects.

“I am fully prepared to be investigated on these allegations,” he told his peers. “I have nothing to hide, and I welcome any inquiry that will bring out the truth.”

Mr. Estrada did not immediately reply to a Viber message seeking comment.

Mr. Estrada and Mr. Villanueva earlier denied pocketing flood control funds after they were tagged in a separate investigation by the House of Representatives.

Mr. Revilla and Mr. Estrada were previously implicated in the multibillion-peso Priority Development Assistance Fund (PDAF) scam.

At Tuesday’s Senate hearing, Mr. Alcantara named Ms. Co and Ms. Cajayon-Uy as among the proponents of flood control funding.

He said Mr. Co had inserted 426 projects in Bulacan worth P35 billion from 2022 to 2025, while Ms. Cayagon-Uy inserted P411 million worth of projects.

SUBSTANDARD
Committee Chairman Senator Panfilo “Ping” M. Lacson approved Mr. Alcantara’s transfer to the Department of Justice for consideration under the Witness Protection Program.

At the same hearing, ex-Public Works assistant engineer Brice P. Hernandez said all infrastructure projects in the first district of Bulacan have been substandard or “underdesigned” from 2019 to 2025.

Meanwhile, Mr. Remulla said Mr. Alcantara has committed to return the ill-gotten wealth he had amassed from flood control projects, as the DoJ builds up its cases.

He said he had met with the engineer and would meet with him again this week. “We submitted the needed documents to the Anti-Money Laundering Council so they can freeze the bank accounts,” he told reporters at the DoJ in Filipino.

Mr. Remulla confirmed Mr. Alcantara’s offer of restitution. “We haven’t gotten to the bottom of everything yet, but the gesture is there.”

He added that government prosecutors were considering other witnesses.

Also on Tuesday, Navotas Rep. Tobias Reynald M. Tiangco filed an ethics complaint against Mr. Co over his alleged role in the “insertion” of billions of pesos in unprogrammed funds and the diversion of funds to lucrative infrastructure deals.

“He masterminded, tolerated and deliberately allowed last-minute insertions and realignments,” he said in a four-page complaint. “The insertions bypassed priority projects and cast serious doubts on the legitimacy of purpose.”

Speaker Faustino “Bojie” Dy III has revoked Mr. Co’s travel clearance to seek medical treatment in the US, asking him to come home within 10 days to answer allegations linking him to questionable budget insertions and contractors in public works projects.

“The 2025 General Appropriations Act has been considered as the most scandalous, corrupt and highly irregular budget,” Mr. Tiangco said in the complaint. “Billions of pesos were inserted by the small committee up to the bicameral committee.”

This year’s budget drew criticism when the bicameral committee raised unprogrammed funds to more than P500 billion and inserted allegedly blank line items, prompting concerns that changes were made after Congress ratified the bill.

“Despite efforts to pacify the public, the public’s demand to hold liable those responsible for the insertions remains a roaring outcry of the people. However, Rep. Co remains silent and beyond reach,” Mr. Tiangco said.

Mr. Tiangco also accused Mr. Co of violating the code of conduct for public officials over his absence since the beginning of the 20th Congress and for conflict of interest.

Thousands of Filipinos marched in the capital on Sunday in the biggest protest in years against the multibillion-peso flood control scandal, turning weeks of online outrage over corruption into mass street demonstrations that rattled the political establishment.

1...595596597...13,878Page 596 of 13,878
© 2024 BusinessWorld Publishing.
All rights reserved.
Read our privacy guidelines
Facebook Instagram Linkedin Twitter Youtube