Home Blog Page 638

PHL pushes ASEAN for a sustainable “one tourism destination”, unified visa 

Tourism Secretary Ma. Esperanza Christina G. Frasco — FACEBOOK.COM/DEPARTMENTOFTOURISM

The Department of Tourism (DoT) said on Thursday that the Philippines is advocating for a “one tourism destination” for sustainability and the establishment of a unified visa for the Association of Southeast Asian Nations (ASEAN). 

“We are really pushing for regional cooperation for ASEAN as one tourism destination for sustainability in tourism development,” Tourism Secretary Ma. Esperanza Christina G. Frasco told reporters in an interview. 

“ASEAN working as one region and one unified tourism destination could really invigorate all of our tourism economies,” she added. 

Data from the 2025 Sustainable Travel Survey by travel platform Agoda found that sustainability is among the top priorities considered by travelers in the region when making travel decisions. 

The survey revealed that 86% of Filipinos value sustainability in travelling, while other neighboring countries, such as Malaysia (80%) and Vietnam (77%), trailed behind. 

“The manner by which we value tourism is not limited to a physical count of visitors alone,” Ms. Frasco said. “But more of the valuation of tourism in terms of livelihood, in terms of economy, and in terms of its ability to sustain the local economies of our destination.” 

She noted that the country has also expressed its interest in establishing a unified visa to help boost tourism across the region. “Since our first participation in the ASEAN under this administration, that is an advocacy that we have propounded among our ASEAN neighbors.” 

“The Philippines continues to express its desire for this. We anticipate that this can really help us in terms of driving the numbers to the region,” she added. 

2026 ASEAN CHAIRMANSHIP
The Philippines, as the 2026 chair of ASEAN, will host the ASEAN Tourism Forum (ATF) in Cebu from Jan. 26 to 29, along with the ministerial meeting of ASEAN Tourism Ministers. Among the expected outcomes from the events is the launch of the ASEAN Tourism Strategic Action Plan. 

“We hope that with that launch, all countries in ASEAN will continue to firmly commit to the strategic goals that have been identified for us to work together in the years to come,” Ms. Frasco said. 

The tourism chief added that the department is responsible for handling hospitality, cultural events, and tours related to the said events. 

“Our preparations for that have already begun and are continuing together with our other member government agencies, as well as our coordination with our local government units and our stakeholders.” 

The chairmanship of ASEAN, which rotates annually based on alphabetical order of its member states, was passed from Malaysia to the Philippines in October. 

The ASEAN chair is expected to lead the ASEAN Summit and related summits, the ASEAN Coordinating Council, the three ASEAN Community Councils, relevant ASEAN Sectoral Ministerial Bodies, and senior officials, and the Committee of Permanent Representatives – Article 31 of the ASEAN Charter. 

The Office of the President has requested a P17.5 billion budget from Congress for hosting duties related to the ASEAN events and summits throughout 2026. — Almira Louise S. Martinez

Global goods trade slows as tariff frontrunning ends, WTO says

Containers at the Port of Los Angeles in Los Angeles, California, May 12, 2025. — BLOOMBERG

Global merchandise trade slowed last quarter as the boost seen earlier this year from front-loading of orders ahead of US tariffs faded, the World Trade Organization said. 

The WTO’s goods barometer dropped to 101.8 in September from 102.2 for June, the Geneva-based organization said on Friday. The baseline of 100 indicates growth over the next quarter that’s in line with medium-term trends.

The data for air freight and container shipping “continue to signal expansion,” even as they weakened from June, “indicating a cooling-off in the transportation of goods worldwide,” the report said. The barometer’s automotive and electronics indexes stabilized and agriculture stayed in contraction, while new export orders showed improvement.

“On balance, the indices show signs of moderation in global trade growth,” the WTO said. 

US President Donald Trump’s tariffs of 10% or higher on imports from most major trading partners disrupted international commerce through much of the year, spurring many American importers to front-load orders to avoid paying the import taxes, as well as shifting demand away from markets where the duties are the highest. 

US goods imports from China, for instance, sank 22% through August this year, but year-to-date shipments from markets including Vietnam, India, Thailand, Malaysia and Taiwan all gained more than 20%, according to data released in Washington this month. 

According to the WTO’s most recent forecast, made on Oct. 7, world trade volume growth this year is expected to be 2.4%, slower than the 2.8% pace posted in 2024. The outlook for next year anticipates a sharp slowdown, to 0.5% growth, the organization said. — Bloomberg 

Detained Philippine ex-leader Duterte loses appeal

FORMER PRESIDENT RODRIGO R. DUTERTE — INTERNATIONAL CRIMINAL COURT / COUR PÉNALE INTERNATIONALE

THE HAGUE — The International Criminal Court ruled on Friday that the Philippines’ 80-year-old former President Rodrigo Duterte must remain detained despite a defense appeal for his release on grounds of age and declining health.

Mr. Duterte, president from 2016 to 2022, was arrested and taken to The Hague in March over murders during his war on drugs when thousands of alleged narcotics peddlers and users were killed.

The appeals judges shot down a request for provisional release on health grounds, meaning he will have to stay in court detention to await a possible trial.

“The Appeals Chamber found that the defense failed to identify errors” in a lower court decision that Mr. Duterte should stay in detention, presiding judge Luz del Carmen Ibanez Carranza said.

Mr. Duterte was not in court to hear the ruling.

His grandson Omar Mr. Duterte told reporters after the ruling that his grandfather was not a flight risk and should have been released. “Half the time, while we are talking, he doesn’t even know why he’s in there, in detention,” he said.

In the Philippines’ capital Manila, victims’ families watched the hearing together holding signs saying: “Duterte’s detention is our safety, no to interim release”. One person jumped for joy and others clapped as the ruling was read out.

THOUSANDS OF DEATHS

“The trial must go on. It must continue until it is proven that Duterte is guilty,” said Sheerah Escudero, whose brother was killed in 2017 during the drugs war.

The ICC arrest warrant says Mr. Duterte created, funded, and armed death squads.

According to police, 6,200 suspects were killed during anti-drug operations under Mr. Duterte’s presidency. But activists say the real toll was far higher and the ICC prosecutor has said as many as 30,000 people may have died.

Mr. Duterte has long insisted he instructed police to kill only in self-defense and has always defended the crackdown, repeatedly telling his supporters he was ready to “rot in jail” if it meant ridding the Philippines of illicit drugs.

In a statement from Manila, the Mr. Duterte family said they accepted Friday’s court decision with peaceful hearts.

Mr. Duterte’s lawyers have filed several other motions to get the entire case dismissed. — Reuters

LANDBANK advances sustainable, inclusive agri growth at Terra Madre 2025

LANDBANK President and CEO Lynette V. Ortiz (left photo) engages local enterprises and food sustainability advocates while highlighting the Bank’s P2M QR payment facility and AGRISENSO Plus program during Terra Madre Asia & Pacific 2025 event from November 19 to 23, 2025 in Bacolod City.

LANDBANK reaffirmed its commitment to fostering a sustainable and resilient food system across the country by showcasing its integrated financing programs, capacity-building initiatives, and digital solutions through its support of the inaugural Terra Madre Asia & Pacific 2025, held from Nov. 19 to 23, 2025 in Bacolod City.

Terra Madre Asia & Pacific, part of the global Slow Food Movement, brought together over 2,000 farmers, fishers, international chefs, indigenous leaders, and advocates from across the region to promote “good, clean, and fair” food, biodiversity conservation, and sustainable food systems.

“LANDBANK and Slow Food aligns with sustainable and inclusive agriculture. Through this partnership, we aim to further strengthen local food systems, empower our farmers and fishers, and help ensure that every Filipino has access to nutritious, clean, and fairly produced food,” said LANDBANK President and CEO Lynette V. Ortiz.

Reena Gamboa, Slow Food advocate and Executive Director of Terra Madre Asia & Pacific, emphasizes her commitment to good, clean, and fair food for all—advocating for active support for farmers and safeguarding our environment to ensure everyone has access to proper, sustainable food.

The Slow Food movement, founded in Italy in 1989, is dedicated to protecting local food cultures, traditional farming practices, and biodiversity. It champions food that is good in quality and taste, clean in its respect for the environment, and fair in terms of pricing and conditions for producers. Today, Slow Food is a global network present in more than 160 countries, working with diverse communities to promote sustainable, community-centered food systems.

“Good, clean, and fair food for all is a universal right. To achieve this, we must protect our biodiversity and environment, as this principle is inseparable from supporting our farmers and ensuring everyone has access to proper, quality food,” said Reena Gamboa, Terra Madre Executive Director.

Building on these principles, LANDBANK’s agricultural programs aim to strengthen connections across the value chain. The Bank’s financial and digital services complement community-led efforts by providing stakeholders—from producers to processors to markets—with the tools and support that they need to thrive.

LANDBANK’s participation as a key sponsor of Terra Madre Asia & Pacific 2025 further reflects its support for Slow Food initiatives, underscoring the Bank’s commitment to promoting sustainable agriculture, food security, biodiversity conservation, and climate-resilient, community-driven value chains.

Integrated support for farmers and fishers

LANDBANK First Vice President Allan R. Bisnar

On Nov. 20, LANDBANK First Vice President Allan R. Bisnar introduced AGRISENSO Plus, the Bank’s flagship lending program which delivers comprehensive value-chain support by integrating credit, technical assistance, and digital solutions, along with free life and credit life insurance. The program is designed to empower small farmers and fishers, offering customized financing, market linkages, and data-driven insights to boost productivity and efficiency.

AGRISENSO Plus features a reduced fixed interest rate of 3% per annum for small farmers, fishers, and agrarian reform beneficiaries (ARBs), with competitive rates for associations, cooperatives, micro, small, and medium enterprises (MSMEs), large enterprises, anchor firms, and agriculture graduates.

“AGRISENSO Plus reflects our commitment to strengthening the entire agricultural value chain. By combining accessible financing, capacity-building, and digital solutions, we are enabling our farmers and food producers to thrive in a rapidly changing environment and ensuring that local food systems remain resilient and sustainable,” LANDBANK PCEO Ortiz emphasized.

Complementing the Program is the LANDBANK ASCEND (Agri-Fishery Support through Capability Enhancement for Nationwide Development), a capacity-building initiative that provides training in digital financial literacy, sustainable agriculture, and enterprise development.

As of September 2025, LANDBANK has released over P1.96 billion in loans under the AGRISENSO Plus Lending Program, supporting more than 12,300 borrowers nationwide, most of whom are small farmers and fishers, following successful rollouts in key agricultural hubs across Pampanga, Cagayan, Isabela, Batanes, Bukidnon, Iloilo, Palawan, and Negros Occidental.

Driving inclusion and digital adoption

LANDBANK also showcased its digital innovations, particularly the P2M (Person-to-Merchant) QR payment facility recently launched in Negros Occidental. This interoperable solution allows consumers to enjoy waived transfer fees for purchases of ₱500 and below using QRPh-P2M via the LANDBANK Mobile Banking App, other banking apps, or digital wallets.

LANDBANK P2M merchants, on the other hand, benefit from waived transaction fees, which encourages the adoption of digital payments. This provides farmers, MSMEs, and local enterprises with a faster, more secure, and more convenient way to receive payments—reducing cash-handling risks and expanding digital inclusion in agricultural communities. Business owners can simply enroll their existing LANDBANK accounts, with activation completed within 24 to 48 hours.

 


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.

Join us on Viber at https://bit.ly/3hv6bLA to get more updates and subscribe to BusinessWorld’s titles and get exclusive content through www.bworld-x.com.

Funds lost to flood control could have funded entertainment industry, says film workers group

Members of the Film Workers Against Corruption (FWAC) at the press briefing held in UPFI Film Center in Diliman, Quezon City on Nov. 28. — EDG ADRIAN A. EVA

The billions of pesos that may have been siphoned due to the flood control scandal anomalies could have been used to fund the country’s entertainment industry, helping to improve the conditions of undercompensated workers, according to the Film Workers Against Corruption (FWAC) on Friday.

“Filipino filmmakers are no different from workers in other industries—they’re also overworked and underpaid,” JL T. Burgos, Chairperson of Surian ng Sining, said in Filipino during the sidelines of the Film Workers Against Corruption press briefing.

“When funds are corrupted, only a few benefit. If arts and culture were given higher funding, it would greatly help below-the-line workers,” he added.

Mr. Burgos said that most independent entertainment industry workers depend on government grants, as they do not have financial backing from big media companies to produce content.

Through increased government funding, below-the-line workers, who usually work behind the scenes and are often overlooked, would receive fairer compensation, he said.

According to the National Expenditure Program (NEP), for the 2026 fiscal year, P1.8 billion is being allocated to cultural agencies like the National Commission for Culture and the Arts (NCCA) and the National Museum of the Philippines, among other relevant agencies.

For filmmaker Joanne Marian B. Cesario, filmmaker, the budget allocated for cultural agencies is only a fraction of the P100 billion alleged to have been siphoned off through corruption.

“Just compare it to the P100 billion that was pocketed and put in suitcases. The disparity is clear,” she said in Filipino during the briefing.

The insertion was allegedly included in the 2025 national budget, greenlighted by President Ferdinand R. Marcos Jr., according to former lawmaker Elizaldy S. Co.

The group also called for accountability for everyone proven to be involved in the flood control anomaly, including President Ferdinand R. Marcos Jr. if evidence confirms his involvement, as well as for other alleged corruption cases, such as the supposed misuse of confidential funds by Vice President Sarah Jane I. Duterte.

“We are being confronted with two faces of corruption,” Mr. Burgos said, referring to the Marcos and Duterte factions.

“Both are thieves. There is no difference between stealing from the flood control fund and the confidential funds,” he added.

The alliance also urged better implementation of the “Eddie Garcia Law,” which is intended to protect workers’ welfare.

They called for proper enforcement of work hours, fair wages, benefits, and regularization, and for the law to detail standardized salaries for below-the-line workers.

Under Republic Act 11961, employers must provide workers or contractors with a copy of their contracts, specifying their work hours, job position and description, length of employment, and details of their compensation in a language both parties can understand.

The law also requires the provision of wage-related benefits, overtime pay, and social security along with other government-mandated benefits.

The group also called for a reduction of the 30 percent amusement tax on movie and television ticket sales, which is mandated under the Local Government Code (RA 7160), noting that the high rate exacerbates the financial strain of the industry amid limited government funding and alleged misuse of public funds.

The Film Workers Against Corruption said it will join the anti-corruption rally, dubbed “Baha sa Luneta 2.0,” on Nov. 30, to seek accountability for corruption in the government. — Edg Adrian A. Eva

Nord Anglia International School Manila introduces the International Primary Curriculum, a first for Philippine international schools 

From January 2026, Nord Anglia International School Manila will introduce the International Primary Curriculum (IPC), making it the first international school in the Philippines to implement the programme for primary students.

Created by leading educators in the UK, the IPC at NAIS Manila will build on the foundations of the English National Curriculum for core subjects while strengthening students’ inquiry and conceptual understanding.

“We’re incredibly proud that Nord Anglia International School Manila is the only school in the Philippines to offer such a globally respected framework as the International Primary Curriculum,” said Mrs. Alison Fox, Principal of Nord Anglia International School Manila. “This reflects our commitment to leading education innovation.”

Having been benchmarked against 20 international education systems, its learning goals are equivalent to, and often more challenging than national standards. Today, more than 1,000 international schools worldwide use the IPC to deliver a future-ready education.

What sets the IPC apart is its international focus. It encourages curiosity, cultural awareness, and a deeper understanding of the world. Students explore global themes, ask big questions, and learn to appreciate both differences and common ground.

“The IPC nurtures creativity and a genuine love of learning. It empowers our students to think critically, act compassionately, and approach the world with curiosity and confidence,” Mrs. Fox added. “It’s more than a curriculum; it’s a foundation for shaping adaptable, future-ready global citizens.”

Photo from Nord Anglia International School Manila

By introducing the IPC, Nord Anglia International School Manila is preparing students for a global future. The programme goes beyond academic excellence, equipping learners with the skills, mindset, and perspective to navigate an interconnected world. Students develop adaptability, curiosity, and cultural awareness, allowing them to engage meaningfully with diverse communities. They learn to think critically, collaborate effectively, and approach challenges with empathy and creativity, ensuring they are ready not only for future careers but for life as responsible, globally minded citizens.

The IPC is also implemented in other Nord Anglia schools around the world, reinforcing a shared commitment to global education and consistent learning outcomes across the group.

 

About Nord Anglia Education:

As a leading international schools organisation, we’re shaping a generation of creative and resilient global citizens who graduate from our schools with everything they need for success, whatever they choose to be or do in life.

Our strong academic foundations combine world-class teaching and curricula with cutting-edge technology and facilities, creating learning experiences like no other. Inside and outside of the classroom, we inspire our students to achieve more than they ever thought possible.

No two children learn the same way, which is why our schools around the world personalise learning to what works best for every student. Inspired by our high-quality teachers, our students achieve outstanding academic results and go on to study at the world’s top universities.

Our Nord Anglia global family includes 89 day and boarding schools in 37 countries, teaching over 100,000 students from ages 3 to 18.

To learn more or apply for a place for your child at one of our schools, go to https://www.nordangliaeducation.com/nais-manila.

 


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.

Join us on Viber at https://bit.ly/3hv6bLA to get more updates and subscribe to BusinessWorld’s titles and get exclusive content through www.bworld-x.com.

Ex-DPWH engineer Henry Alcantara turns over P110 million in cash to the nation’s coffers

Former DPWH Bulacan first district engineer Henry C. Alcantara has turned over P110 million in cash to the Department of Justice on Nov.28.— PHILIPPINE STAR/EDD GUMBAN

Dismissed Bulacan District Engineer Henry C. Alcantara on Friday turned over P110 million in cash to the government as partial restitution after admitting to authorizing payments for non-existent “ghost” infrastructure projects.

Acting Justice Secretary Fredderick A. Vida said Mr. Alcantara’s turnover, made through his lawyer, is part of the restitution process linked to his application to the Justice Department’s Witness Protection Program (WPP) amid the ongoing flood control investigation.

“This is a demonstration of good faith. As a state witness, he is saying, ‘Mr. DOJ, we want to help the government because we regret our actions. And if we profited from it, we are returning it to the public.’ This is a step toward achieving justice,” Mr. Vida told a press briefing in Filipino.

He added that the Bureau of the Treasury (BTr) and Land Bank of the Philippines (LandBank) will jointly conduct the necessary procedures before the money is officially recognized. “If there is a counterfeit, if data is missing, everything is verified. Once counted, they will certify the amount, and the Bureau of Treasury will issue an official receipt.”

Mr. Alcantara earlier admitted that, while serving as Bulacan’s first district engineer, he signed completion certificates for multiple non-existent flood control and infrastructure projects. The total ill-gotten amount from alleged kickbacks and anomalous projects is estimated at P300 million from Mr. Alcantara’s tenure alone.

The cash turnover coincided with the DOJ’s preliminary investigation into the Bulacan flood control project cases on Friday — Erika Mae P. Sinaking

Puregold Hakot Relay Run sparks frenzy among running communities

All participants that completed the Puregold Hakot Relay Run received medals to commemorate the occasion.

The Puregold Hakot Relay Run recently became the event du jour among both seasoned and amateur runners when it sparked the adrenaline rush of a competitive race combined with the exciting giveaways of the classic “hakot experience.

Held at Burnham Green Park on Nov. 22, the Puregold Hakot Relay Run had attendees gushing over the exhilarating experience of grabbing grocery items while competing in the three-kilometer run.

For one, avid runner Sheila Obregon, who joined the event with her husband and 10-year-old child, has been singing the event’s praises online since she completed the three-kilometer run. “Sa lahat ng run, ito ang pinaka-MASAYA!” she wrote on Facebook. “Ganito pala ang feeling ng STRESS-FREE GROCERY.”

Shiela Obregon (left) was one of up to 8,000 attendees to the first-ever Puregold Hakot Relay Run.

In a photo she shared with the UP Running Community, Sheila displayed an array of groceries that included bottled water, soft drinks, biscuits, potato chips, detergent, bath soap, and more. “Muntik na kami walang matulugan,” she jestingly declared. Meantime, in the comments to her post, other runners shared photos of their own grocery hauls from the event. Even more comments, however, expressed eagerness for the chance to participate in future runs.

“Memorable talagayung adrenaline na makahakot at sana ‘wag maubusan,” said Sheila. “Andami namin nahakot na freebies at groceries… kaya laking tipid sa budget ngayong taon. Sabi nga ng anak ko, ‘Mi, hanggang new year na stocks natin!’”

Shiela Obregon posted pictures to Facebook of her massive haul from the Puregold Hakot Relay Run.

Puregold Hakot Relay Run participants competed in teams of three that tagged each other at predetermined points in the race, triggering the “hakot” segment wherein runners could seize grocery items to fill up their sling bags with before tagging their next teammate. To participate, attendees only had to meet a minimum purchase requirement at select Puregold branches, then pay a P500 registration fee.

The prospect of joining a challenging three-kilometer run plus the chance to snatch free groceries drew up to 8,000 quick-footed participants at Burnham Green Park, turning the Puregold Hakot Relay Run into a can’t-miss activity for both individuals and families who had frenzied fun with friends and family.

On his Facebook page, seasoned runner Mac Crisostomo laid out the unforgettable experience he had at the event as he listed the freebies that were up for grabs. “In terms of loots, medal, singlet, and program…hands down, Puregold wins,” he wrote. “Puregold just changed the game in grocery-run events — and raised the bar for years ahead.”

Participant Jericha Llaneta affirmed the same sentiments in a Facebook post that displayed her bountiful haul. “Pinakamasayang fun run/relay run na nasalihan ng family ko,” she wrote. “May pa 25kg na bigas pa… ang swerte!”

With her 25-kg sack of rice and other grocery items she received at the event, Jericha believes that her family brought home two months’ worth of household supplies. “It’s a big help to us po talaga!”

The Dominguez family stands by their groceries grabbed from the “hakot segments” of the Puregold Hakot Relay Run.

Like Sheila, Lheo Dominguez was another Puregold Hakot Relay Run attendee that competed with his family, though the Dominguez clan came out in full force. “Three teams kame, tatlo kaming magkakapatid kaya bawat family kasali,” Leo said. “In addition, kasama din ang baby naming eight-month-old, karga ni wife.”

In Leo’s own Facebook post, eight-month-old Marielle is shown — front and center — surrounded by her family’s grocery haul: assorted canned goods, toiletries, and snacks.

Apart from providing a backdrop for Marielle’s adorable photo on Facebook, Lheo’s “loot” from the Puregold Hakot Relay Run is actually a timely aid for a family in difficult economic times. “Sobrang importante [ang nakuha namin] due to inflation nowadays. Sa ngayon yung worth 500 mo na mga ilan pirasong groceries lang, di pa puno ung basket. Pero dito sa Puregold Hakot Relay, yung 500 mo halos tatlong pushcart na.”

Otp Mar Man (back) posing with his teammates at the Puregold Hakot Relay Run.

The prizes so overflowed that some runners were spurred to be generous themselves. Netizen Otp Mar Man chose not to keep much of the haul he picked up. “Most, if not all, of my hakot items, I sent to the province sa biyenan ko,” he said. “Kasi nakita nila mga post ko and I promised that I will give all the prizes na makukuha ko. Bicol-bound na ang mga hakot ko.”

On top of the groceries and the heart-pumping exercise of the Puregold Hakot Relay Run, participants also got to enjoy a memorable concert experience at no additional cost. PPop icons KAIA, G22, Press Hit Play, and the duo of Brent Manalo and Mika Salamanca sang their hearts out for all the attendees, adding an additional rush of excitement to the proceedings.

Malakas at malinaw ang sounds kaya feel na feel,” said Sheila. “Mika and Brent talaga ang inabangan ko!”

Puregold Price Club, Inc. President Vincent Co, who sprinted alongside his loyal customers and members at the event, spoke on the overwhelmingly positive feedback. “It’s humbling to see how much our local running clubs and communities came out in force to support our first running initiative. Our Puregold employees really strived to put together an exciting, competitive day where everyone could share the panalo spirit.”

The gratitude went both ways as the participants also expressed their thanks for the grand event. “Gusto po namin magpasalamat sa lahat ng bumuo ng idea at effort para mag-organize ng run na to,” said Sheila. “Hindi pa kami tumatakbo may pa-grocery na. Sana po hanggang sa mga susunod na Hakot Relay Run, ganito pa rin kasaya.”

“Thank you sa mga nag-uumapaw na mga freebies, pati mga pasabog. Sana mas lalong marame pa sa mga susunod na Puregold Hakot Relay Run,” said Lheo.

For the multitudes in attendance, the only question that matters now is, When’s the next one?

Stay in the loop. Subscribe to the Puregold Channel on YouTube, like @puregold.shopping on Facebook, and follow @puregold_ph on Instagram and Twitter and @puregoldph on TikTok.

 


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.

Join us on Viber at https://bit.ly/3hv6bLA to get more updates and subscribe to BusinessWorld’s titles and get exclusive content through www.bworld-x.com.

Rescuers step up recovery operations as Southeast Asia flood deaths cross 160

STOCK PHOTO | Image by Tapani Hellman from Pixabay

JAKARTA/BANGKOK — The death toll from floods across large swathes of Southeast Asia rose to at least 161 on Friday, with authorities in the region working to rescue stranded citizens, restore power and communications and coordinate recovery efforts as the waters began to recede.

Large parts of Indonesia, Malaysia, and Thailand have been stricken by cyclone-fueled torrential rain for a week, with a rare tropical storm forming in the Malacca Strait.

Another 46 people were killed by a cyclone in the South Asian island nation of Sri Lanka, authorities said.

On badly hit Sumatra in Indonesia, 72 people had been confirmed dead by Friday morning, said Abdul Muhari, spokesman for Indonesia’s national disaster mitigation agency.

In the Padang Pariaman region of Sumatra, where a total of 22 people died, residents had to cope with water levels at least one meter high, and had still not been reached by search and rescue personnel on Friday.

“We’re running out of supplies and food,” said Muhammad Rais, a 40-year old resident who was forced to move to the second floor of his home on Thursday to escape the rapidly rising waters.

Communications remained down in some parts of the island, and authorities were working to restore power and clear roads that have been blocked by landslide debris, he said.

Indonesia will continue to airlift aid and rescue personnel into stricken areas on Friday, he added.

The Thai government said in a statement that 87 people had been killed by floods across eight southern provinces. It said a total of more than 3.5 million people had been affected.

In the southern city of Hat Yai, the hardest hit part of Thailand, the rain had finally stopped on Friday, but residents were still ankle-deep in flood waters and many remained without electricity as they assessed the damage done to their property over the last week. One said he had “lost everything”.

In Malaysia, where two people have been confirmed dead, tropical storm Senyar made landfall at around midnight and has since weakened. Meteorological authorities are still bracing themselves for heavy rain and winds, and warned that rough seas could pose risks for small boats.

A total of 30,000 evacuees remain in shelters, down from more than 34,000 on Thursday.

Malaysia’s foreign ministry said on Friday that it had already evacuated 1,459 Malaysian nationals stranded in more than 25 flood-hit hotels in neighboring Thailand, adding that it would work to rescue the remaining 300 still caught up in flood zones. — Reuters

Manhit to Zaldy Co: Time to come home, show proof

“Former lawmaker Elizaldy S. Co should go back in the country to prove all his series of allegations against Philippine President Ferdinand R. Marcos Jr. and the first family, Victor Andres D. Manhit, president of Stratbase ADR Institute, said.

“”So maybe it’s time for him to come home, show the documents if there are any, and really help go after the bigger fish above him, as he keeps saying,”” Mr. Manhit said.

Appetite for PHL bonds stays strong despite corruption concerns – nat’l treasurer

REUTERS

THE Bureau of the Treasury (BTr) said appetite for Philippine government securities (GS) remains upbeat, even as capital markets have seen volatility due to concerns arising from alleged corruption in state infrastructure projects.

“The GS market is actually rallying while the stock market is down. The GS market is very robust, so we haven’t seen (the impact). Even our spread is still very tight,” National Treasurer Sharon P. Almanza told reporters on the sidelines of an event on Nov. 26.

“The spread of our domestic curve vis-à-vis US Treasuries and even our RoP (Republic of the Philippines) is still very tight. Our CDS (credit default swap) is still at its tightest,” she said.

Ms. Almanza said they don’t expect the scandal to materially dampen investor sentiment on Philippine government issuances.

“I think the investigation has been progressing. So, we’re really hoping that will address some of the concerns of people, of our investors.”

The government has raised P2.08 trillion from domestic sources as of Nov. 24, close to the full-year program of P2.11 trillion, the Department of Finance said. Its weekly Treasury bills and bonds auctions have been mostly oversubscribed, leading to a steady decline in yields, and its commercial issuances have also have also seen strong demand.

Based on the 2026 Budget of Expenditures and Sources of Financing, the government plans to borrow P2.6 trillion this year, with bulk to be raised from domestic sources to minimize foreign exchange risks. This will rise to P2.68 trillion next year.

Analysts said investors see government debt as safer assets compared to stocks during times of stress.

“(There is) increased market appetite for safer or even the safest investments such as government securities amid the volatility in the local stock market in recent months,” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message on Friday.

“We may see stronger demand in the short term as investors see bonds as a safer option to park money rather than equities, [and] also as investors see rate cuts happening, which may cause them to flock to bonds to lock in returns,” Oikonomia Advisory and Research, Inc. Economist Reinielle Matt M. Erece said in a Viber message.

A widening graft scandal stemming from corruption linked to government flood control works has affected Philippine economic prospects as it hit both public and household spending due to weakening confidence, with gross domestic product growth slowing to an over four-year low of 4% in the third quarter. This brought the nine-month average to 5%, putting the government’s 5.5-6.5% full-year target further out of reach.

Economic managers have said that the growth goal could be challenging to reach, but stressed that they expect public spending to pick up as they work to address governance concerns.

The softening growth outlook and fragile sentiment have also caused the Bangko Sentral ng Pilipinas (BSP) to be more dovish. In October, it delivered a fourth straight 25-basis-point (bp) cut and said it sees the need for a more accommodative policy stance to help stimulate the economy due to the impact of the corruption scandal. It has also signaled further easing until next year.

As the mess continues to unravel, domestic markets have been volatile. The bellwether Philippine Stock Exchange index earlier this month sank to an over five-year low as it fell to the 5,600 level, and only returned to the 6,000 mark this week after languishing below this line since late October.

Meanwhile, the peso also posted a new record low of P59.17 a dollar on Nov. 12 and has been trading at the P58 to P59 level in the past two months, with uncertainty regarding the US Federal Reserve’s monetary policy trajectory also contributing to its slide. — Aubrey Rose A. Inosante

Trump says US will permanently pause migration from ‘Third World Countries’

US PRESIDENT Donald Trump said on Thursday that his administration will work to “permanently pause” migration from all “Third World Countries” to allow the US system to fully recover.

Mr. Trump did not identify any countries by name or explain what he meant by third-world countries or “permanently pause”. He said the plan would include cases approved under former President Joe Biden’s administration.

“I will permanently pause migration from all Third World Countries to allow the US system to fully recover, terminate all of the millions of Biden illegal admissions, including those signed by Sleepy Joe Biden’s Autopen, and remove anyone who is not a net asset to the United States,” he said on his social media platform, Truth Social.

Mr. Trump said he would end all federal benefits and subsidies for “noncitizens”, adding he would “denaturalize migrants who undermine domestic tranquility” and deport any foreign national deemed a public charge, security risk, or “non-compatible with Western civilization.”

White House and US Citizenship and Immigration Services did not immediately respond to Reuters’ requests for comment.

Mr. Trump’s comments followed the death of a National Guard member who had been shot near the White House in an ambush investigators say was carried out by an Afghan national.

Earlier, officials from the Department of Homeland Security officials said that Mr. Trump had ordered a widespread review of asylum cases approved under Mr. Biden’s administration and Green Cards issued to citizens of 19 countries.

The alleged gunman was granted asylum this year under Mr. Trump, according to a US government file seen by Reuters.

The US Citizenship and Immigration Services on Wednesday stopped processing all immigration requests relating to Afghan nationals indefinitely.

“These goals will be pursued with the aim of achieving a major reduction in illegal and disruptive populations,” Mr. Trump said. — Reuters

ADVERTISEMENT
ADVERTISEMENT