THE DEPARTMENT of Agriculture (DA) said it delivered a P1.27-billion farm aid package to Zamboanga del Sur (Zambo Sur), led by P968 million for road projects connecting farmers to their buyers.
In a statement, the DA said P803 million will go towards the construction of farm-to-market roads and P165 million to complete ongoing road projects.
The Bureau of Fisheries and Aquatic Resources (BFAR) will also invest P26.6 million in seaweed farming projects, including a warehouse and drying facility, and five deep-sea nursery modules with boats and fishing equipment.
Zamboanga del Sur will get cacao processing and marketing enterprise projects worth P67.6 million as well as P6.4 million in livelihood projects for the municipalities of Dumingag and Lakewood.
The Coconut Farmers Marketing Cooperative in the municipality of Ramon Magsaysay will be provided a P46.7-million copra drying and coconut oil processing facility by the Philippine Center for Postharvest Development and Mechanization, the DA said.
The Philippine Coconut Authority provided P2.24 million for hybrid seedlings and fertilizer.
The Swine Industry Recovery Project will give beneficiaries P9 million worth of housing, feed, piglets, medicine, and insurance support through local cooperatives.
The Upgraded Swine Artificial Insemination project in Guipos municipality will get P4.75 million for breeder housing and a swine AI laboratory.
Dairy farmers in Mahayag and Molave will also receive P1.17 million from the National Dairy Authority to improve dairy cow genetics.
Unconditional cash assistance worth P23 million will be distributed to 3,258 rice farmers from the Rice Competitiveness Enhancement Fund. Additionally, 945 farmers in six towns will receive P3,000 in fuel assistance .
Agriculture Secretary Francisco P. Tiu Laurel, Jr. said the aid package was granted in connection with President Ferdinand R. Marcos, Jr.’s birthday. — Andre Christopher H. Alampay
THE PESO could continue to sideways against the dollar this week as investors remain cautious as they await further policy guidance from US Federal Reserve officials.
On Friday, the local unit closed at P57.15 per dollar, weakening by nine centavos from its P57.06 finish on Thursday, data from the Bankers Association of the Philippines showed.
Meanwhile, week on week, the peso went up by five centavos from its P57.10 close on Sept. 12.
The local unit dropped as the dollar was generally stronger on Friday following a stronger-than-expected US jobless claims report, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.
“The dollar-peso closed lower, tracking the dollar’s recovery overnight on a less dovish Fed and lower than expected initial jobless payments,” a trader likewise said in a phone interview.
Early on Friday, the US dollar rose against major peers on news that fewer Americans filed new applications for unemployment benefits in the prior week, Reuters reported.
The number of Americans filing new applications for unemployment benefits fell, but the labor market has softened as both the demand for and supply of workers have diminished.
Though the report from the Labor department on Thursday confirmed layoffs remained relatively low, the hiring side of the labor market has almost stalled. Demand for workers has slowed, with economists blaming uncertainty stemming from tariffs on imports. At the same time, an immigration crackdown has reduced labor supply, creating what Federal Reserve Chair Jerome H. Powell on Wednesday described as a “curious balance.”
Economists welcomed the decline in applications as a sign of the economy’s resilience. Some even suggested that the US central bank’s concerns about the labor market were probably overblown and further interest rate cuts were unwarranted.
Initial claims for state unemployment benefits decreased 33,000 to a seasonally adjusted 231,000 for the week ended Sept. 13. Claims in the prior week had jumped to 264,000, a level last seen in October 2021.
Economists polled by Reuters had forecast 240,000 claims for the latest week.
The US central bank on Wednesday cut its benchmark overnight interest rate by a quarter of a percentage point to the 4%-4.25% range and projected a steady pace of reductions for the rest of 2025 to help the labor market.
The Fed paused its policy easing cycle in January because of uncertainty over the inflationary impact of President Donald J. Trump’s import tariffs.
For this week, the trader said the market remain cautious before the release of a fresh batch of US economic data, including reports on the final gross domestic product (GDP) estimate for the second quarter, mortgage applications, and the August personal consumption expenditures price index.
Several Fed officials, including Mr. Powell, are also scheduled to speak this week, which markets will monitor for policy guidance, the trader added.
The trader sees the peso moving between P57 and P57.40 per dollar this week, while Mr. Ricafort expects it to range from P56.90 to P57.40. — A.M.C. Sy with Reuters
DIGIPLUS Interactive Corp. rose last week on updates about its overseas expansion and player protection initiative.
DigiPlus was the eighth-most actively traded stock at the Philippine Stock Exchange (PSE), with P1.22 billion worth of 55.40 million shares traded from Sept. 15 to 19.
Shares in the Tanco-led company closed at P23.65 apiece on Friday, up 18.8% from P19.90 a week earlier. The services index gained 5.1%, while the benchmark PSE index rose 2.5%.
Year to date, DigiPlus shares were down 12.9%. The PSE index fell 4% in the same period, while the services index grew 8.9% year on year.
The jump in DigiPlus’ share price was significantly influenced by news of its plan to diversify into traditional casinos and upcoming operations in Brazil, Jash Matthew M. Baylon, equity analyst at The First Resources Management and Securities Corp., said in a Viber message.
He said the index rose as investors hunted for bargains when it reached the 6,000 level, while optimism from Wall Street spilled over to the local market after the US Federal Reserve cut interest rates by 25 basis points for the first time this year.
Last week, DigiPlus said it would launch operations in Brazil on Sept. 22, marking its first international expansion. GamePlus will be the initial platform, offering 150 games in free-to-play and real-money formats.
The company said it is entering Latin America’s fastest-growing iGaming market after the Brazilian government approved regulations for online betting and gaming this year, allowing the entry of foreign players. By 2026, DigiPlus plans to launch BingoPlus in Brazil.
“[The] expansion in Brazil showed the firm’s goal to achieve its global growth strategy… and will introduce its entertainment services to new community which may attract new users and increase its user base,” Mr. Baylon said.
He added the launch aligns with DigiPlus’ plan to expand into other markets, including its recent move to divest in South Africa.
DigiPlus also partnered with Philippine First Insurance Co., Inc. to launch a surety bond program providing up to P1 million in coverage for verified players’ wallet balances, without requiring users to buy separate insurance.
“The surety bond will strengthen its user base as it will bring more confidence among its users. This move may also be aligned with the regulatory issues of online gaming in the country,” Mr. Baylon said.
Meanwhile, Reuters reported the US Federal Reserve lowered its policy rate by 25 basis points to a range of 4%-4.25% and signaled further easing but warned of sticky inflation.
For the second quarter, DigiPlus’ net income rose 30.2% to P4.2 billion from P3.23 billion a year earlier. Revenues climbed 30.6% to P24.71 billion from P18.93 billion.
For the first half, net income surged 60.9% to P8.4 billion from P5.22 billion a year earlier, while consolidated revenues jumped 46.7% to P47.78 billion from P32.56 billion.
Mr. Baylon attributed the growth to new games that boosted its user base and margins. He said the resolution of regulatory issues would help provide more clarity on the stock’s direction.
He said he sees “the P20 per share as the support, while the P25 and P30 level are the key resistance level.” — Abigail Marie P. Yraola
LONDON — From her dazzling jewels and silk footwear to modern interpretations of her extravagant gowns, a new exhibition exploring the style of France’s doomed 18th century queen Marie Antoinette opened in London last week.
Running at the V&A Museum, Marie Antoinette Style is the UK’s first exhibition dedicated to the queen, a member of the Austrian royal family who wed French King Louis XVI.
She became a fashionable and contentious figure, known for her opulent taste, before she and her husband were overthrown during the French Revolution and executed in 1793. Marie Antoinette was 37 years old.
“(The exhibition is) about the style shaped by the most fashionable queen in history, Marie Antoinette,” exhibition curator Sarah Grant said in an interview.
“We look at the style that she shaped from 1770 until her death and then the legacy of that style.”
Some 250 objects are on display in the exhibition, including Marie Antoinette’s footwear, jewels, and other personal belongings, including an eau de cologne bottle and porcelain dinner service.
Fashions from that period as well as portraits of the queen and her furniture are also on display, including items on loan from the Palace of Versailles. Her chemise, or underwear, from when she was in prison, and a final note written before her execution, are featured.
The contemporary section features an array of designer frocks and shoes looking at the influence Marie Antoinette has had on fashion and film. These include costumes made for Sofia Coppola’s 2006 film Marie Antoinette, starring Kirsten Dunst in the titular role.
“What’s incredible is that her influence has been so continuous,” Ms. Grant said. “It’s continued … really ever since her death and continues now.”
Marie Antoinette Style runs until March. — Reuters
On Saturday, Sept. 20, President Ferdinand Marcos, Jr. announced that the P60 billion diverted from the Philippine Health Insurance Corp. (PhilHealth) to the National Treasury in 2024, which was strongly opposed by civil society and challenged in a Supreme Court petition (GR 274778, Pimentel vs. House of Representatives), would be returned to PhilHealth.
He cited savings from Department of Public Works and Highways (DPWH) projects as the reason the P60 billion would be returned to PhilHealth.
President Marcos’ decision to return the P60 billion that the National Government took away from PhilHealth is the result of relentless, sustained, and immense public pressure, which started in July 2024. It is the result of the coming together of diverse segments of society: healthcare workers, labor groups, youth groups, patients’ groups, and government workers, among many others. It is thus the people’s victory.
But if the intent of the Marcos administration is to placate an angry nation and defuse a political crisis in the wake of the controversy surrounding anomalous flood control projects and massive corruption in the General Appropriations Act, its pivot is clumsy. And its concessions — e.g., throwing former Speaker Martin Romualdez, the president’s cousin and strategic political ally, under the bus and returning the seized PhilHealth funds — are too little, too late.
“Tinimbang ka ngunit kulang (you’ve been weighed and found wanting).” We explain why.
Accountability does not end in rearranging the leadership in Congress. Let us not forget that the corrupted budgets in 2024 and 2025 were the handiwork of both Congress and the Executive.
Congress — through a special provision in the 2024 General Appropriations Act (GAA), which the President signed — enabled the unconstitutional transfer of funds from PhilHealth and the Philippine Deposit Insurance Corp. (PDIC) to the National Government.
The coup de grâce, following Congress authorization, was the memorandum circulars released by the Department of Finance (DoF) that directed PhilHealth and PDIC to remit P89.9 billion and P107.23 billion to the National Treasury, respectively. (PhilHealth actually ended up transferring P60 billion of the P89.9 billion, for the Supreme Court issued a temporary restraining order that stopped the final installment from being remitted to the National Treasury.)
It is ironic, therefore, that the DoF issued a statement welcoming the return of PhilHealth’s P60 billion when the fund transfer was ordered by the Finance department in the first place. Just a few months ago, in April, Finance Secretary Ralph Recto himself delivered an impassioned speech at the Supreme Court oral arguments, defending the fund transfer and claiming that the diverted PhilHealth funds used for infrastructure were still beneficial to health, given that new roads facilitate access to healthcare.
Moreover, the defunding of PhilHealth is not limited to the illegal transfer of its exclusive funds. In the 2025 national budget that Congress and the President both approved, PhilHealth received a budget of zero. This is a blatant violation of the Sin Tax Law (Republic Act 10351), which provides the earmarking of sin tax revenues for PhilHealth and the Universal Health Care Act (Republic Act 11223), which ensures government funding for the annual premiums of the indirect contributors (i.e., mainly the poor).
For the proposed 2026 budget of PhilHealth, the subsidy is a pitiful P53.3 billion, an amount way below the earmarked revenues from sin taxes and an amount that is woefully inadequate to cover the contributions of indirect contributors.
In light of all this, the return of P60 billion does not fully account for the egregious defunding of PhilHealth. The Supreme Court oral arguments on the PhilHealth case debunked the misconception that PhilHealth had excess funds, rather, it exposed the Commission on Audit findings over the past years: that PhilHealth’s finances have been in the red. In a Sept. 8 Yellow Pad column by Dr. Jeepy Perez, he noted that with new benefits on the way (mostly a result of political pressure), PhilHealth faces both a financial and technical crisis, and that it will exceed its benefit budgets of P271 billion by over P34 billion by the end of the year.
Worse, the gesture of returning the P60 billion is deceptive. It is heavily outweighed by PhilHealth’s zero budget in 2025 and the pittance of PhilHealth funds in the 2026 National Expenditure Program.
Still and all, the return of the P60 billion to PhilHealth is a significant victory for the people, for those who fought to protect the integrity of PhilHealth funds, which belong to its members and must only be used for their main purpose: life-saving healthcare services.
We must continue demanding full accountability. The PhilHealth fund transfer was not just done by Congress — those in the Executive responsible for the reprehensible diversion of people’s healthcare funds must also be held accountable for their actions.
We ask the government to own up to its mistakes, and to apply the consequences of its irresponsible, nay, illegal, acts. Finally, we hope that the Supreme Court releases its decision on GR 274778 at the soonest possible time and that it rules the fund transfer unconstitutional to avoid its reoccurrence.
Filomeno S. Sta. Ana III coordinates the Action for Economic Reforms. Pia Rodrigo is strategic communications officer at Action for Economic Reforms.
AGRARIAN REFORM BENEFICIARIES (ARBs) in Nueva Vizcaya received a P20-million irrigation project from the Department of Agrarian Reform (DAR) and the National Irrigation Administration (NIA), the agencies said.
Completed earlier this year in June, the Namamparan-Bungol Communal Irrigation Project was turned over to 23 ARBs. Featuring a diversion dam, lined canals, farm-level turnout structures, and access roads, it will irrigate 23 hectares.
“This project is not only an investment in infrastructure but also in the future of our farmers. It is aligned with the nine-Point Agenda of DAR Secretary Conrado M. Estrella III and highlights the importance of collaboration with NIA to sustain farm productivity and improve the lives of our agrarian reform beneficiaries,” DAR Regional Director Primo C. Lara said. — Andre Christopher H. Alampay
A snap from the Manila International Auto Show 2017. The auto industry is still expected to break half-a-million units in sales this year. — PHOTO BY KAP MACEDA AGUILA
Last month was an expected bump in the road for auto sales, but there were other things at play
THE HUNGRY ghosts came to roost. This year, the so-called “ghost month” fell from Aug. 23 through to Sept. 21; the Hungry Ghost Festival itself was on Sept. 6. This is a traditional Chinese occasion when ghosts and spirits — including those of deceased ancestors — are said to rise from the lower realm to visit family or seek victims among the living. To promote good luck and harmony during this period, some practices are observed, such as avoiding the start of construction, signing of contracts, undergoing major surgery, and the purchase of condos — or automobiles.
New vehicle sales reports for August seem to suggest that many car buyers may have had their “third eye” on the observance of the ghost month. In my many years in the automotive industry, this tradition has been a go-to reason by auto dealers and salespeople for low sales. In fact, it is already incorporated into the seasonality of the sales cycle.
The Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI), Truck Manufacturers Association (TMA), and the Association of Vehicle Importers and Distributors (AVID) reported total sales of 35,944 units in August. This is the second-lowest monthly sales turnover for 2025, higher only than April. This is 8.4% lower than sales in August last year, and represents a 6.6% decline compared to July 2025. This tells quite a tale. It did not help that the ghost month started on the last week of the month when car deliveries usually peak — accounting for 30% to 40% of the month’s sales. Buyers may have opted to push back deliveries to September to be on the safe side of tradition. On top of that, the two national holidays also resulted to a shorter sales month than usual.
If unofficial reports by non-member importers and distributors are considered, sales in August 2025 are at 37,444 units, which is a lesser drop of 6% versus the same month last year.
The ghost month’s effects notwithstanding, the biggest contributor to the sales slack in August 2025 versus the same month last year is the pickup segment. As will be recalled, the Capital Markets Efficiency Promotions Act (CMEPA) was signed by President Ferdinand Marcos, Jr. last June. Among the provisions in the law was the imposition of an excise tax on double-cab pickup trucks effective last July 1. This raised prices of some pickup variants by more than P200,000. The drop in sales was not immediately reflected in July due to carry-over inventories by some distributors, imported prior to the effectivity of the excise tax. The full impact was felt in August, thus the significant drop in total market sales.
As mentioned above, the total market dropped 6% versus August 2024 — if including sales of non-member auto distributors. Sales of pickup trucks, on the other hand, declined by almost 1,800 units or 34%. Only Isuzu did not experience a contraction in sales in August, presumably because it still has stocks that can be offered at pre-excise tax prices. If we add back the lost pickup sales, total August sales would have been almost at par (98%) with 2024. So there. The ghosts may have given us a scare, but the sales numbers do tell their own story.
Undoubtedly, growth percentages are starting to regularize this year versus last. In the first half of 2024, supply disruptions were still evident and new model launches were continuing to hit the market in quick succession. As we enter the second semester of 2025, growth rates will start to abate due to the higher sales base in the same period last year. This will become even more apparent in Q4 as the plug-in hybrid electric vehicle (PHEV) segment started recording volume sales last year. At the current pace, the market is on track to exceed 490,000 units. But with the usual strong sales takeup in the last quarter, breaking the 500,000 unit sales level is still very much in play.
On a year-to-date basis, total market sales of CAMPI, TMA, and AVID are reported at 306,378 units — just about even with the sum over the same period in 2024. Passenger-car sales dropped by 21.5% due to a fall in the small subcompact sedan market by 30%, primarily on the back of a decline in Vios sales. The supply of Vios was managed down by Toyota Motor Philippines (TMP) to give way to the production of the Tamaraw at its Santa Rosa factory. Making up the slack is a growth in the entry hatchback segment, which saw a growth of 13% led by the Suzuki Espresso (up 42%) and the Toyota Wigo (up 11%).
Meantime, sales of commercial vehicles were reported to have grown by 7.3%, mainly on the strength of the light commercial multi-purpose vehicle segment that includes the Toyota Tamaraw, Mitsubishi L300, Suzuki Carry, and Isuzu Travis. This segment reported a growth of 48% versus the same period last year. This growth is consistent with the sustained demand for versatile workhorse vehicles needed to drive economic activity, especially for use by micro, small, and medium enterprises (MSME) that comprise 99% of businesses in the Philippines. Though year-to-date pickup sales grew by 4%, this is due to pull forward demand and is expected to lag in the coming months.
If we include sales of non-member distributors, total auto sales are estimated at around 320,000 units, up 4% versus the same period last year. This is almost at pace with the gross domestic product (GDP) growth of 5%. Outside of the growth segments mentioned above, another driver is the electrified vehicle (xEV) segment whose sales breached 32,000 units as of August. This accounts for 10.1% of total vehicle sales compared to the whole of 2024 with annual sales of almost 25,000, accounting for 5.1% of the automotive market. Hybrid electric vehicle (HEV) sales are still preferred among the new electrified drivetrains, accounting for almost half of the xEV segment. PHEVs have grown significantly to 37% of the segment while battery electric vehicles (BEV) make up 15%.
Geo-political and geo-economic events continue to cast uncertainty on the economy. The impact of increased tariffs on exports to the USA are also expected to manifest more in the second semester of the year. Furthermore, fiscal and trade deficits continue to climb. Nonetheless, GDP is on a stable trajectory, inflation continues to abate, the Philippine peso remains reasonably strong, interest rates are lowering, and OFW remittances are holding ground. If things stay the course, auto sales should be able to sustain growth and, hopefully, shatter the 500,000 sales mark.
A woman buys food items at a supermarket in Quezon City, March 4, 2022. — PHILIPPINE STAR/ MICHAEL VARCAS
THE BANGKO SENTRAL ng Pilipinas (BSP) may cut benchmark interest rates again in December to prop up the economy as consumer sentiment remains weak and with fiscal support expected to be limited as the government continues its consolidation plan, Deutsche Bank Research said.
“Downside risks to the Philippine economy have not faded in our view, despite BSP suggesting that it has reached the policy rate ‘sweet spot’ of 5%. The real rate remains high, and with fiscal constraints and subdued economic sentiment, we think that BSP still has some room to further ease,” Deutsche Bank Research economist Junjie Huang said in a Sept. 19 report.
“The Philippine economy’s current ‘Goldilocks’ state is fairly delicate… We maintain our call for another 25-bp (basis point) rate cut in its December meeting.”
Last month, the BSP lowered benchmark interest rates by bps for a third straight meeting to bring the policy rate to 5%. It has now reduced borrowing costs by a cumulative 150 bps since it began its rate-cut cycle in August 2024.
BSP Governor Eli M. Remolona, Jr. said the policy rate is now at their “Goldilocks” rate or “sweet spot” for both inflation and output.
Still, he left the door open to one more reduction within this year to support the economy if needed, which would likely mark the end of its easing cycle.
The Monetary Board’s last two meetings this year are scheduled for Oct. 9 and Dec. 11.
Philippine gross domestic product (GDP) grew by 5.5% in the second quarter, supported by a rebound in agriculture production and faster household spending.
Economic expansion averaged 5.4% in the first semester, just a tad below the government’s 5.5% to 6.5% growth target.
Mr. Huang said the country’s real rate is at 3.5% and would only reach around 2% in mid-2026, which shows that there is space for a looser monetary stance.
While trade has been driven by strong demand for electronics products from Asian economies, the frontloading done by exporters before the US’ “reciprocal” tariffs kicked in last month was also a strong driver of outbound sales, he noted.
“That said, the imposition of semiconductor tariffs could weigh heavily on the Philippines. Electronics comprise ~60% of its total exports, while semis (semiconductors) alone accounts for 40%.”
The country’s trade deficit narrowed to $28.46 billion in the first seven months from the $29.93-billion gap a year ago, government data showed. Exports increased by 13.9% to $48.62 billion as of end-July.
Mr. Huang added that monetary support for the economy may be needed as public spending is only expected to increase “marginally” next year as the government continues its fiscal consolidation path, albeit at a slower pace than initially planned.
“Its target deficit for 2026 is now 5.3%, 0.6 percentage point wider than the 4.7% initially planned, but nonetheless still lower than the 5.5% projected in 2025. Moreover, projected spending in 2026 at 21.5% of GDP is only marginally higher than the 21.4% in 2025, suggesting limited fiscal impulse next year,” he said.
“This in turn may require continued support from BSP to anchor growth at a time when consumer sentiment remains subdued.”
The Development Budget Coordination Committee in June revised the medium-term fiscal program amid global uncertainties.
Based on the revised fiscal plan, government spending is programmed at P6.63 trillion next year or 21.5% of GDP from this year’s P6.082 trillion (21.4% of GDP).
Meanwhile, revenues are projected to reach P4.983 trillion in 2026 or 16.2% of economic output from P4.52 trillion this year or 15.9% of GDP. — Katherine K. Chan
PHILIPPINE COMPANIES need to improve how they track and manage their data to get the most out of their artificial intelligence (AI) investments, according to Kyndryl Holdings, Inc., a US-based IT infrastructure services provider.
“You need to have the data so that you can have data lineage, which means you can follow where the data comes from so you can trust it,” Kyndryl Strategic Markets President Petra Goude said in an interview with BusinessWorld.
Data lineage refers to the ability to track how company data is created, transformed, and consumed across systems. This allows companies to integrate data properly into AI tools and troubleshoot issues or security risks.
“Some data don’t need to be used in real-time — it’s enough to use it overnight, while some data is very critical,” Ms. Goude said. “So, it’s really about having all of those mappings and understand how you can leverage it.”
Proper data lineage would also help companies avoid hallucinations in AI systems, she added.
“If you’re a healthcare provider and you want to leverage AI on a diagnosis, it comes back to the data that the models are using,” she said.
Ms. Goude also cited the importance of having a strong data infrastructure to ensure data lineage and proper integration in AI systems.
According to Kyndryl’s People Readiness Report, 29% of business leaders globally said their workforce is ready to successfully leverage AI. However, about 71% of leaders said their workforce is not prepared to use AI effectively.
“I had the same conversation with the customers that I met in the Philippines, that things are moving forward a lot, but there’s resistance in some of the workforce,” Ms. Goude said.
Kyndryl, which operates in more than 60 countries, designs, builds, and manages technology systems to help companies modernize their IT infrastructure.
Deon Del Mundo, managing director at Kyndryl Philippines, said the country remains a significant growth market as more firms seek to modernize IT systems to adopt AI at scale.
“We see strong growth potential in the Philippines, fueled by the same forces driving transformation across ASEAN (Association of Southeast Asian Nations). AI is at the center of nearly every customer conversation, with business leaders seeking guidance not only on how to adopt generative AI but also how to deploy it securely, responsibly, and at scale,” Mr. Del Mundo said in an e-mailed reply to questions.
In the Philippines, Kyndryl serves industries such as banking, financial services, healthcare, manufacturing, and telecommunications.
“Kyndryl already partners with leading organizations across these sectors in the ASEAN, and we see continued opportunities to extend this expertise to Philippine enterprises as they advance their digital transformation journeys,” Mr. Del Mundo said.
AI technologies could boost the Philippine economy by P1.8 trillion, according to a report by Google Philippines and consulting firm Public First.
CHANGHUA, Taiwan — Entrepreneur Nelson Yang is reaching back into Taiwan’s history to turn the humble banana plant into an unlikely sustainable textile.
Taiwan is now the world’s dominant producer of advanced semiconductors but the yellow fruit, still widely grown on the island, was once a source of patriotic pride.
Mr. Yang’s Farm to Material, headquartered in the central Changhua rural belt, is turning banana fiber into textiles he hopes will one day supply global sneaker brands.
“Back in 2008, European (sneaker) brands told us that they were hoping to find a way for food and materials to be produced in parallel, meaning that food and materials are yielded from the same land,” he told Reuters.
“So we’ve been working based on that concept. What we’re doing now is making sure that all our material sources come from food or leftovers from agriculture or the food industry. We then transform those leftovers into usable materials.”
Under Japanese colonial rule from 1895-1945, Taiwan was renowned for its fruit, especially pineapples and bananas, and in the 1960s, the island branded itself the “banana kingdom” to boost exports, now long since overtaken by the tech industry.
Mr. Yang’s company takes the middle section of the banana plant, known as the pseudostem and normally abandoned in the field after harvest, then crushes and dries it to produce the fibers that can make clothing.
Some of the fibers are turned into yarn that can be blended with cotton for socks and can also be turned into vegan leather.
The business is still in its infancy with no orders from apparel companies.
“Banana fiber actually performs better than regular cotton in terms of water consumption, absorbency, and supply stability, making it highly promising for future applications,” said Charlotte Chiang, director of the innovation and sustainable design department at the Taiwan Textile Federation.
“Banana fiber could become a new highlight for Taiwan in the field of biomass fiber in the textiles industry.” — Reuters
PORTRAIT of Niccolò Machiavelli by Santi di Tito. — EN.M.WIKIPEDIA.ORG
PORTRAIT of Niccolò Machiavelli by Santi di Tito. — EN.M.WIKIPEDIA.ORG
Niccolò Machiavelli was a Florentine diplomat, author, philosopher, and historian who lived during the Italian Renaissance. He is best known for his political treatise, The Prince (Il Principe), published in 1532, for which he has often been called the “father of modern political philosophy and political science” by modern-day political thinkers.
Such an honorific was earned by this self-made political philosopher who strategized his own survival and positioning in the shifting politics of his time. Historian Maurizio Viroli, in his biography of Machiavelli, relates that Machiavelli was born in a tumultuous era. As a secretary (historian) in the court, Machiavelli witnessed firsthand the state-building methods of Pope Alexander VI (head of the Catholic Church, ruler of the Papal States, and leader of the Holy League with European rulers) and his son, Cesare Borgia. Note that Rodrigo Borgia was appointed cardinal when he was barely in his twenties by his uncle, Pope Callixtus III, and he rose to the papacy after the death of Pope Innocent VIII as the most senior, most powerful cardinal, aligned with the emperors of Europe at that time. As Pope Alexander VI, he made his son, Cesare, cardinal and supreme military commander of papal forces that conquered opposing regimes. These nepotistic appointments by dynastic rulers were characteristic of the era.
Machiavelli personally witnessed the brutal retribution Cesare Borgia inflicted on his rebellious commanders and emphasized “the danger of offending a ruler and then expecting to trust him afterward.” Rodrigo and Cesare Borgia may have set the prototype for Machiavelli’s The Prince — of “political leaders by birth and destiny” who ruled by “the end justifying the means” on subjects who were cowed into submission by fear more than love and allegiance.
When Pope Alexander VI died, a proper papal conclave ultimately selected Julius II — who was a bitter rival of the Borgia family — as pope. Machiavelli still tried to ingratiate himself with the new “Princes,” the Medicis. He redirected his already-started The Prince, and dedicated it to Guiliano de Medici, the new co-ruler of the Florentine Republic with his brother, Lorenzo the Magnificent. Guiliano was “The Prince” to whom Machiavelli wrote his radical political prescriptions for tyrannical, amoral, and enduring power in position. It is said that Guiliano never read Machiavelli’s The Prince.
Changing loyalties of both ruler and the ruled is one of the political realities exposed and warned against in The Prince. “People are loyal only when it suits them,” Machiavelli cautioned. In reality, self-interest drives allegiances and alliances; beware of appearances and false declarations of love and admiration.
Is it better for a “prince” to be feared or to be loved? Machiavelli’s reply: “Since it is difficult for a ruler to be both feared and loved, it is much safer to be feared than loved, if one of the two must be lacking. For this can generally be said of men: that they are ungrateful, fickle, liars and deceivers, avoiders of danger, greedy for profit; and as long as you serve their welfare, they are entirely yours, offering you their blood, possessions, life and children… when the occasion to do so is not in sight; but when you are faced with it, they turn against you…For men are less concerned with hurting someone who makes himself loved than one who makes himself feared, because love is held by a link of obligation which, since men are wretched creatures, is broken every time their own interests are at stake; but fear is held by a dread of punishment which will never leave you.” Always remind everyone of your power.
So, “Prince,” go ahead with whatever you need to do, to keep yourself in power, Machiavelli exhorts. In chapters three, five, and eight,, he explicitly says that fraud and deceit are necessary for a prince to use. Violence is needed for the stabilization of power and the introduction of new political institutions. Force may be used to eliminate political rivals, destroy resistant populations, and purge the community of other men strong enough of a character to rule, who will inevitably attempt to replace the ruler. Politics have no relation to morals, Machiavelli infamously said.
In 1559, the Catholic Church (Pope Paul VI) banned The Prince, putting it on the Index Librorum Prohibitorum, the list of publications that Catholics were forbidden to read. In the 16th century, Catholic writers “associated Machiavelli with the Protestants, whereas Protestant authors saw him as Italian and Catholic.” In fact, he was apparently influencing both Catholic and Protestant kings, Robert Bireley analyzed in his book, The Counter Reformation Prince (1990). The Prince was spoken of highly by Thomas Cromwell in England and had influenced Henry VIII in his turn towards Protestantism and his serial divorce, beheading, or otherwise disposing of six wives.
“Why are we still reading this book called The Prince, which was written 500 years ago,” a Yale University essay asks? (Jan. 1, 2011). Machiavelli is not interested in talking about ideal republics or imaginary utopias, as many of his predecessors had done: “There is such a gap between how one lives and how one should live that he who neglects what is being done for what should be done will learn his destruction rather than his preservation.” This is Machiavelli’s political realism — his intention to speak only of the “effectual truth” of politics, “so that his treatise could be of pragmatic use in the practice of governing.”
Are we still focused on the opportunistic use of power and influence in position? That is exactly the definition of “Machiavellianism” as “the name of a personality trait construct characterized by manipulativeness, indifference to morality, lack of empathy, and a calculated focus on self-interest,” as described by psychologists Daniel and Delroy Paulhus in Machiavellianism (2009).
Machiavellianism is the antithesis of good governance in today’s rights-focused democracies. Yet it thrives, perhaps because of the realities of shifting economics, and the overriding need to “maximize scarce resources” for individual survival and improvement, as espoused by the economist Adam Smith (1776).
It is said that there are almost 250 political families, referred to as “political dynasties,” that control all 82 provinces of the Philippines at all levels. The “taipans,” the cartel of mixed political and business oligarch families which control politics and own various crony capitalist businesses, has reshaped political alliances, according to the Manila Times of Sept. 16, 2020. (Recall the nepotism and dynastic rule in Machavelli’s time.)
According to a Philippine Star editorial on July 15, 2024: “Dynasty building undermines the criminal justice system, with clans controlling the police, prosecution, judiciary and jail facilities in their turfs. This has engendered impunity, as the nation has seen in so many brazen political killings.” There are many unresolved cases of stolen wealth and plunder, extrajudicial killings, oversized confidential funds, pork barrel, and bribery scams pending or still unfiled.
During his fourth State of the Nation Address (SONA) on July 28, President Ferdinand Marcos, Jr. ordered an audit of flood control projects under his administration, as he denounced the corruption that caused people to suffer from recurring flash floods during heavy rains.
Between July 2022 and May 2025, the first three years of the Marcos Jr. presidency, the government funded 9,855 flood-control projects worth over P545 billion. Massive flooding in recent months has brought these projects under the harsh glare of public scrutiny, with allegations of substandard work and links to corrupt practices.
An initial audit flagged projects collectively worth more than P350 billion ($7.11 billion) which did not specify the exact flood control structure built or repaired, as well as several projects at different locations which disclosed identical designs and materials. Ghost projects were revealed.
The Department of Public Works and Highways (DPWH) identified a total of 2,409 contractors for both local and national flood control projects.
President Marcos Jr. disclosed that an initial review found that P100 billion worth of projects — 20% of all flood control projects in the past three years — were undertaken by only 15 contractors.
Senator Panfilo Lacson said as much as 60% of infrastructure funds could go to “commissions” and off-the-books payments to legislators, public works officials, auditors, and others. “The pie-sharing varies depending on the level of greed,” he said.
The Machiavellian level of greed was first unmasked by a rerun of a video by Korina Sanchez on Korina Interviews and another by Julius Babao for his YouTube channel which both showcased the fantabulous house and 40 luxury cars of the couple Sarah and Curlee Discaya. It seemed to be a feel-good, rags-to-riches story, until Korina asked Sarah, “Where did all this wealth come from?” “From the DPWH,” was Sarah’s forthright reply, as she explained that the reason why they have this many cars is also to show their clients their “capacity to execute a project” (Philippine Star, Aug. 8).
It is, again, the Machiavellian model of power through structured interdependencies and rewarded allegiance to the “princes,” the powers-that-be in the self-centered bureaucracy that tapers to the top. In the Senate Blue Ribbon Committee that is building up the facts of the flood control projects issue, bigger and bigger names are being implicated, as selected witnesses tell on each other and insinuate the Machiavellian ruthlessness towards self-aggrandizing wealth and continued power. Those high-ranking officials who might be connected to the DPWH anomalies have resigned or were quietly relieved of their positions.
“You can always be a generous giver when what you give is not yours,” Machiavelli says of the sharing of what is plundered by princes. But you should not “load your people with exorbitant taxes and squeeze money out of them” to fund your generosity, Machiavelli warns.
The Filipino people are angry with the greed and corruption in government. The people know that it is their tax money that has been stolen in this systemic plunder of the flood control funds. A big protest rallies were held at the Luneta and the historic EDSA monument beside Camp Aguinaldo yesterday, Sept. 21, the anniversary of Marcos Sr.’s Martial Law which was declared 53 years ago.
Floods are upon Machiavelli’s new “princes.”
Amelia H. C. Ylagan is a doctor of Business Administration from the University of the Philippines.
