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Style (03/17/25)

Filipino designer John Herrera debuts in Paris

JOHN HERRERA made his debut during Paris Fashion Week this month revealing his haute couture “Femme A La Mode” collection at the city’s historic Salle De Wagram. In creating the 10 pieces positioned as an “homage to fashionable women throughout history,” Mr. Herrera cites his creative freedom, without being constrained by a specific creative direction, as the catalyst for the collection’s conception and development. The collection features luxurious fabrics including silk duchess satin, silk-cotton velvets, glass bugle beads, and Swarovski crystals. The bridal gown, which was the finale’s look, used yards of piña seda (a silk blend with a fabric derived from Philippine pineapples) for a veil, showcasing the best of fabrics native to the Southeast Asian nation. The full collection of 10 gowns can be seen online at johnherrera.co.uk and via Instagram @johnherrera.

Converse goes into archives for latest drop

CONVERSE’S latest Retro Running Collection has the brand diving into its archives to bring back the essence of vintage running shoes. Converse is rolling out three new lifestyle silhouettes — the Wave Trainer, Omni Trainer, and Omega Trainer — each rooted in the brand’s deep history in performance footwear. Inspired by classic designs from the 1980s, these silhouettes debuted with last year’s Run Star Trainer and continue with the upcoming 1980 Collection. The Wave Trainer is a reinterpretation of Converse’s classic running style of the same name, while the Omni and Omega are new silhouettes that draw inspiration from multiple Converse running shoes of the 1980s. A throwback to its 1989 predecessor, the Wave Trainer revives a Converse classic with its premium dual-layer suede and sport mesh upper. Retro colorways from the archive, an embroidered Star Chevron, and tonal reflective overlays bring an authentic vintage feel. CX foam cushioning (CX foam sock liner and CX foam midsole) and a PU Strobel ensure all-day comfort while the traction rubber outsole, inspired by styles from the Converse archive, not only enhances grip but also adds to the shoe’s original form. Pulling from the 1984 Converse Equinox, the Omni Trainer blends durability and sport-forward design. A nylon ripstop upper and suede overlays add structure and a retro sport look, while the CX foam midsole and sock liner offer a plush ride for everyday wear. Taking cues from the 1984 Thunderbolt and 1985 Converse Gazelle, the Omega Trainer keeps things light with a woven poly sport upper, suede accents, and an EVA midsole built for all-day comfort without the bulk. In addition to reviving classics, Converse has two collaborations: an all-new drop from Golf Wang and a tribute to one of the most iconic duos in animation, Tom and Jerry. Introducing the One Star CC Slip Pro, a skate-ready slip-on in partnership with Golf Wang merges laid-back styling with performance-driven details. CONS traction rubber enhances grip and board feel, while a CX foam sock liner provides plush comfort for all-day wear. As for the Tom and Jerry collaboration, it pays homage to the classic cartoon duo with a lineup of five bold sneaker designs, along with graphic T-shirts and hoodies for fans of all ages. The collection reimagines Converse’s most beloved silhouettes, including the Chuck Taylor All Star and Chuck 70, with animated graphics that capture the slapstick spirit of Tom and Jerry. And for those who like to get creative, the Converse By You platform lets fans customize with exclusive Tom and Jerry artwork. Available in both adult and kids’ sizes. Converse is available in Powerplant mall, select Ayala Malls, SM Malls, Robinsons Department Stores.

Furla redesigns space

FURLA introduces its take on the Light Refresh Concept (LRC), a retail design approach that seamlessly blends heritage, modernity, and accessibility. Rooted in Italian elegance and minimalism, this new concept reaffirms Furla’s commitment to innovation while preserving the brand’s signature sophistication. Located at the first level of Rustan’s Shangri-La Plaza, this newly redesigned boutique embodies lightness and adaptability. Soft, refined colors, premium materials, and thoughtfully curated spaces create an inviting environment where customers can immerse themselves in the beauty of Italian craftsmanship. Natural wood, champagne-colored metal, and warm hues cultivate a refined yet welcoming atmosphere, while an intuitive layout — structured around three key engagement zones: Introduce, Explore, and Experience  — ensures a seamless and inspiring journey. Starting with the brand’s Florence and Corso Vercelli stores, the LRC ensures a consistent yet distinct execution across Furla’s global network, preserving the brand’s unique identity while allowing for local customization. In the Philippines, Furla is exclusively distributed by Stores Specialists, Inc., and has branches at Rustan’s Shangri-La, Rustan’s Makati, Rockwell, City of Dreams, Newport Mall, Rustan’s Cebu, and is available online at Trunc.ph, Rustans.com, and Zalora.

New Gap star: Parker Posey

THIS SPRING, Gap has launched the “Feels like Gap” campaign starring actor Parker Posey. Ms. Posey brings an optimistic energy and humor to each frame in support of Gap’s Spring 2025 lineup. The collection has a focus on soft fabrics, relaxed silhouettes, and versatile styling options. It expands on Gap’s bestselling fabrics including VintageSoft sweats and UltraSoft denim, made with a proprietary cotton-tencel blend — available in denim jeans, shirts and more. Gap’s Spring 2025 campaign launches globally this March, with the limited styles featured available to shop in stores and online. Gap is in Ayala Malls Manila Bay, Glorietta 4, Shangri-la Plaza Mall, SM Mall of Asia, SM Megamall, Trinoma, Alabang Town Center, and Abreeza, Davao, or shop online at gap.com.ph.

Yields inch lower on BSP rate cut signals

YIELDS on government securities (GS) dropped last week after the Bangko Sentral ng Pilipinas signaled a potential policy rate cut at its April meeting.

GS yields which move opposite to prices, went down by an average of 3.11 basis points (bps) at the secondary market last week, based on data from PHP Bloomberg Valuation Service Reference Rates as of March 14 published on the Philippine Dealing System’s website.

Rates for all benchmark tenors ended lower week on week, except for the 10-year Treasury bond (T-bond), which went up 2.04 bps to yield 6.2301%.

At the short end of the curve, yields on 91-, 182-, and 364-day Treasury bills dropped by 2.03 bps, 0.06 bp, and 0.21 bp to 5.2499%, 5.5675%, and 5.7920%, respectively.

The belly of the curve also went down as rates on two-, three-, four, five-, and seven-year T-bonds fell by 5.65 bps (to 5.8041%), 6.97 bps (5.8437%), 6.92 bps (5.8936%), 5.67 bps (5.9525%), and 2.44 bps (6.0781%), respectively.

Lastly, yields on 20- and 25-year bonds declined by 3.06 bps and 3.2 bps to 6.3153% and 6.313%, respectively.

GS volume traded amounted to P22.72 billion on Friday, down from the P27 billion recorded on March 7.

“The curve steepened somewhat [last] week after BSP Governor Eli M. Remolona, Jr. spoke on the possibility of rate cuts at the Monetary Board’s meeting next month. This was probably driven by partly by the favorable inflation print for February,” a bond trader said in a Viber message on Friday.

“Coupled with the cut in RRR (reserve requirement ratios) expected to take effect near the end of March, this should provide some support for local bonds,” the bond trader added.

Mr. Remolona last week said a rate cut is “on the table” at the Monetary Board’s policy meeting next month, which has been rescheduled to April 10 from April 3 previously.

He added that the BSP is still on easing mode and expects to slash benchmark borrowing costs by “a few more times” this year.

The Monetary Board in February unexpectedly paused its rate-cut cycle, which Mr. Remolona said was a “prudent” move amid uncertainty over the trade policies of US President Donald J. Trump and their potential impact on the Philippines.

He earlier said that the central bank will likely continue reducing interest rates by 25 bps at a time, with 50 bps in cuts still on the table this year.

The BSP last year cut benchmark rates by a total of 75 bps via three consecutive 25-bp reductions since it began its easing cycle in August, bringing the policy rate to 5.75%.

Meanwhile, the RRR of of universal and commercial banks and nonbank financial institutions with quasi-banking functions will be reduced by 200 bps to 5% from 7% effective March 28. 

The ratio for digital banks will also be trimmed by 150 bps to 2.5%, while that for thrift banks will be cut by 100 bps to 0%.

Rural and cooperative banks’ RRR has been at zero since October last year.

“On the other hand, however, the trade war and policies of US President Donald J. Trump have driven uncertainty in global markets,” the bond trader said. “This will likely continue in the near future and we could see some minor decoupling of local yields, which remain under fundamentally favorable conditions.”

“The potential uncertainty locally could come from the supply side as the market continues to gear up for the BTr’s (Bureau of the Treasury) second-quarter borrowing plan,” the trader added.

Mr. Trump on Thursday threatened to slap a 200% tariff on wine, cognac and other alcohol imports from Europe, opening a new front in a global trade war that has roiled financial markets and raised recession fears, Reuters reported.

Mr. Trump’s threat came in response to a European Union plan to impose tariffs on American whiskey and other products next month — which itself is a reaction to Mr. Trump’s 25% tariffs on steel and aluminum imports that took effect on Wednesday. The European Commission had no immediate comment on the move.

Canada, a neighbor and close ally that is the biggest aluminum provider to the US, has also announced countermeasures to Mr. Trump’s metals tariffs and has taken the dispute to the World Trade Organization. Talks between US and Canadian officials on Thursday failed to produce a breakthrough.

Mr. Trump has threatened to impose an array of trade penalties since returning to the White House in January, though he has postponed action on many of them. At an Oval Office meeting with NATO Secretary-General Mark Rutte later on Thursday, he said he would not back off from reciprocal tariffs he has vowed to impose on all trading partners on April 2.

Mr. Trump says tariffs are needed to revitalize US industries shrunken after decades of globalization, and he has stacked his administration with officials who agree with those views.

Mr. Trump’s barrage of threats has spooked investors, businesses and consumers. Producers of jets, coffee, clothing, autos and packaged foods are among the many businesses scrambling to assess their operations as Trump’s actions threaten international supply chains.

Some economists say the uncertainty threatens the health of the US economy and raises the risk of recession. A Reuters/Ipsos poll released on Wednesday found that 70% of Americans expect Mr. Trump’s tariffs to make regular purchases more expensive. — JPGV with Reuters

Biofertilizer plant opens in Laguna 

DA.GOV.PH

By Kyle Aristophere T. Atienza, Reporter

AGRI SPECIALIST, Inc. said it opened a 2,000-square meter automated manufacturing facility in Laguna with a capacity of 7,200 metric tons of biofertilizer annually. 

The facility makes fertilizer that uses the nitrogen-fixing properties of bacteria known as Bio N, a blend of Azospirillum and nutrient-rich mediums developed by the University of the Philippines Los Baños (UPLB) in 1991, its Chief Executive Officer and President Mario C. Labadan, Jr. told BusinessWorld.

“The plant’s production capacity is set to meet the country’s biofertilizer needs, with the goal of reducing dependence on imported chemical fertilizers,” the company said in a statement.

Among the staff of the P250-million Bio N facility are graduates of UPLB’s National Institute of Molecular Biology and Biotechnology.

The biofertilizer promises to increase farmer incomes, with five 200-gram packs of Bio N fertilizer sufficient for a hectare planted to rice or corn. Every kilogram of the biofertilizer can replace 100 kilos of urea, an inorganic fertilizer, Mr. Labadan said.

Bio N provides 30-50% of the total nitrogen requirement of rice and corn.

Bio N has undergone testing by rice farmers in 13 regions over the past two cropping seasons.

“Farmers have reported healthier plants — characterized by deep green leaves, sturdy stems, and robust root systems — along with fewer pests and reduced need for chemical pesticides,” the company said, citing findings from its pilot studies.

ERC finalizes rules on GEA-All charges for on-grid consumers

EVENING_TAO-FREEPIK

THE Energy Regulatory Commission (ERC) on Sunday issued guidelines for collecting tariffs on energy projects under the Green Energy Auction Program (GEAP), charged to on-grid consumers.

The ERC said it finalized the guidelines for collecting the Green Energy Auction Allowance (GEA-All) and disbursing the GEA-All Fund “to ensure fair and accurate fee collection from on-grid consumers by GEA suppliers.”

The guidelines cover emerging renewable energy (RE) technologies, including solar photovoltaic, biomass, wind, run-of-river, integrated renewable energy and energy storage systems, and other RE technologies in the GEAP, as determined by the Department of Energy (DoE).

The ERC said GEA-All is a uniform charge per kilowatt-hour billed to on-grid consumers, “distinct and separate” from the feed-in tariff allowance (FIT-All) scheme.

“While both support RE development, the FIT-All compensates RE supply under the FIT program, while the GEA-All funds payments to RE developers under the GEAP,” the ERC said. — Sheldeen Joy Talavera

The importance of colorectal cancer screening

FREEPIK

In the Philippines, colorectal cancer is the third most common cancer and the fourth leading cause of cancer-related deaths. In 2022, there were 20,736 new cases of colorectal cancer with 10,692 deaths reported in the country.

In observance of National Colorectal Cancer Awareness Month, we highlight the importance of screening in detecting colorectal cancer early and significantly lowering the risk of dying from the disease.

Colorectal cancer is a disease in which abnormal cells in the colon or rectum divide uncontrollably, ultimately forming a malignant tumor. Individuals can lower their risk for colorectal cancer by maintaining a healthy weight; engaging in regular physical activity; eating a diet rich in vegetables, fruits, and whole grains, and low in red and processed meats; and refraining from drinking alcohol and smoking cigarettes.

Most colorectal cancers begin as an abnormal growth or lesion, called a polyp, in the tissue that lines the inner surface of the colon or rectum. Colorectal polyps are common in people older than 50 years of age, and most do not become cancer. However, a certain type of polyp known as an adenoma is more likely to become a cancer, according to the National Cancer Institute at the US National Institutes of Health.

Common symptoms of colorectal cancer include a change in bowel habits; blood in or on your stool; diarrhea, constipation, or a feeling that the bowel does not empty all the way; abdominal pain, aches, or cramps that don’t go away; and unexplained weight loss. However, precancerous polyps and colorectal cancer don’t always cause symptoms, especially in the early stages of the disease. This is why individuals need to get screened even if they do not have a family history, as most colorectal cancers occur in people with no family history of the disease, the US Centers for Disease Control and Prevention (CDC) said.

With early detection, colorectal cancer is one of the most preventable and treatable of cancers. Screening helps prevent colorectal cancer by finding precancerous polyps so these can be removed before they turn into cancer. With early detection through screening, treatment can be very effective.

The Philippine Society of Gastroenterology (PSG) recommends regular screening through a fecal immunochemical test (FIT) and colonoscopy starting at age 50 for the prevention, early detection, and treatment of early-stage colorectal cancer.

FIT is a simple test that can be performed at home. Recommended yearly, it detects hidden blood in the stool, which can be an early sign of cancer. However, FIT cannot diagnose colorectal cancer and therefore individuals with positive FIT results should schedule a colonoscopy with a gastroenterologist as soon as possible.

Colonoscopy is the gold standard screening method for colorectal cancer. A colonoscopy is an exam in which a long, flexible tube (a colonoscope) is inserted into the rectum. A tiny video camera at the tip of the tube allows the gastroenterologist to view the inside of the entire colon and rectum to check for and remove precancerous polyps.

A vast majority (86%) of Filipino adults (20 years and older) are willing to participate in colorectal cancer screening programs initiated by the government, and almost half (47%) are amenable to undergoing screening tests even as an out-of-pocket expense. These are among the key findings of “Knowledge, Attitudes, and Practices in Colorectal Cancer Screening in the Philippines,” a cross-sectional study by Fernandez et al published in December 2024 in the open-access, international peer-reviewed journal Acta Medica Philippina. The study involved 288 respondents with a median age of 54 residing in both urban and rural communities in the country.

The study also revealed that public awareness about colorectal cancer and the benefits of screening remains modest. Respondents with higher household income and highest educational attainment were more knowledgeable about the benefits of colorectal screening.

While the cost of a colonoscopy is understandably an issue, screening is less expensive than treating colorectal cancer if compliance rates are high and the costs of screening tests are reasonable, writes Dr. David Beck, editor-in-chief of The Oschner Journal, in his editorial on the importance of colorectal cancer screening. “In perspective, the health advantages of screening should certainly outweigh the equivalent of several months of cable television [subscription] or expensive mobile data plans.”

Fernandez et al stated that the findings of their study can help policymakers design and implement directed educational campaigns to address knowledge gaps. They can also clarify misconceptions and overcome barriers to colorectal cancer screening with the overall goal of increasing participation rates in screening programs.

 

Teodoro B. Padilla is the executive director of Pharmaceutical and Healthcare Association of the Philippines which represents the biopharmaceutical medicines and vaccines industry in the country. Its members are in the forefront of research and development efforts for COVID-19 and other diseases that affect Filipinos.

Isuzu Philippines continues fleeting campaign

From left are Isuzu Iloilo General Sales Manager Ivan Arriola, Isuzu Iloilo Branch Manager Vanessa Lutero, Isuzu Philippines Corp. (IPC) Department Head for CV Sales Mario Ojales, Sicogon Island Estate Finance Head Steven Magbanua, and Sicogon Island Estate Operations Head Gerry Formes. — PHOTO FROM ISUZU PHILIPPINES CORP.

FOLLOWING the successful staging of the 2025 Isuzu Truck Fest, Isuzu Philippines Corp. (IPC) continues to deliver its top-selling trucks to fleet customers across the country through its extensive dealership network. In a release, IPC said that it remains to be the “preferred partner for businesses that require durable, fuel-efficient, and reliable transport solutions” in areas such as tourism estate development to nationwide product distribution and city waste management.

Through its Isuzu Iloilo outlet, IPC delivered three units of the Isuzu FTS34L to the Sicogon Island Tourism Estate Corp. These trucks, each fitted with a boom crane, water tank, and vacuum body, are specially designed to support the development of Sicogon Island, a rising tourist destination.

“Since the island currently lacks established utility lines for electricity and water, these specialized trucks play a vital role in sustaining daily operations and supporting development. The Isuzu water tanker will ensure a steady supply of fresh water by transporting it from the island’s spring site to businesses and residents,” reported IPC. “Vacuum trucks handle sewage cleaning, helping maintain proper sanitation and environmental sustainability. Meanwhile, boom cranes are essential for ongoing construction projects, assisting in the building of new resorts and infrastructure that will further boost Sicogon Island’s tourism and economic growth.”

According to Sicogon Island Estate Operations Head Gerry Formes, the company previously used trucks from different brands but encountered operational challenges due to frequent breakdowns and unreliable after-sales support.

“With Isuzu, we are confident that our operations will have minimal downtime. The trucks are known for their durability, and the after-sales support Isuzu provides is strong. This is exactly what we need to keep the island’s development on track,” maintained Mr. Formes.

Meanwhile, though Isuzu Taytay & Orix Rental Corp., IPC also delivered 54 units of the Isuzu N-Series light-duty truck with aluminum van bodies to First PGMC Enterprises, Inc., a major distributor of liquid condiments such as soy sauce and vinegar. The delivery included a mix of four-wheeler and six-wheeler Isuzu N-Series trucks, tailored to meet First PGMC’s logistics needs. The fleet is comprised of 26 units of the Isuzu NLR85, 21 units of the Isuzu NMR85H, five units of the Isuzu NPR85K, and two units of the Isuzu NQR75L.

These new trucks will be deployed nationwide to transport goods from First PGMC’s production plants to distribution centers across the provinces, continued IPC. The Isuzu N-Series “was selected for its efficient power, durability, and reliability, making it an ideal choice for businesses involved in fast-moving consumer goods (FMCG) distribution.”

Said IPC Assistant Division Head for Sales Yoshiki Sato, “The Isuzu N-Series is perfect for First PGMC Enterprises because it provides the right balance of power, fuel efficiency, and cargo space. Its reliability ensures that goods are delivered on time, making it the preferred choice for nationwide distribution.”

Last month, IPC, through Isuzu La Union, turned over 10 units of the Isuzu FVR34QS AMT with dump truck configuration to the City Government of Zamboanga. These trucks are a crucial part of the city’s initiative to improve garbage collection across all 98 barangays.

“Given Zamboanga’s proximity to coastal waters and marine ecosystems, efficient waste management is essential to prevent pollution and protect the city’s abundant reef fish population. These new Isuzu dump trucks will help ensure cleaner streets, safer waterways, and a healthier environment for the community,” said IPC. The Isuzu FVR34QS is designed for heavy-duty waste collection, boasting a payload capacity of up to 10,835kg and is powered by a 6HK1-TCN Blue Power Diesel engine that delivers 177ps and 706Nm.

At the turnover, IPC Department Head for Fleet Sales Mario Ojales reminded city officials of the importance of proper maintenance to ensure the trucks’ longevity, saying, “While Isuzu trucks are built for durability, proper maintenance and careful handling are still key to preventing breakdowns. That’s why we remain committed to providing ongoing support to ensure these units serve Zamboanga for many years. Through our dealership partners, we are always ready to assist.”

As part of every fleet purchase, IPC provides its comprehensive after-sales program, the “Isuzu Advantage,” designed to minimize downtime and maximize operational efficiency for businesses. This includes free driver and mechanic training, equipping operators with the skills needed to properly maintain their trucks and prevent breakdowns. Nationwide parts availability ensures that spare parts are easily accessible, even in remote locations, keeping fleet operations seamless.

Additionally, IPC offers on-site and roadside assistance, with quick service responses through Isuzu’s Mobile Medic Trucks and expert field engineers, providing customers with reliable support whenever and wherever they need it. For businesses operating in the provinces, these services are especially critical, ensuring that every Isuzu truck remains roadworthy and reliable for years to come.

“At Isuzu, we don’t just sell trucks — we build partnerships. Every truck we deliver is backed by our commitment to reliability and customer support. That’s why thousands of Filipino businesses continue to trust Isuzu as their ‘Responsible Partner,’” added Mr. Sato. For more information, www.isuzuphil.com or follow Isuzu Philippines on Facebook.

Philippines’ air quality worsens in 2024

The Philippines placed 74th out of 138 countries and territories in the 2024 edition of the World Air Quality Report by Swiss air quality technology company IQAir. Air quality in the country, as measured by annual average concentration of PM2.5, reached 14.8 micrograms per cubic meter (μg /m³), worse than the 13.5 µg/m³ a year earlier and the 5 μg/m³ annual average prescribed by the World Health Organization (WHO).

Philippines’ air quality worsens in 2024

How PSEi member stocks performed — March 14, 2025

Here’s a quick glance at how PSEi stocks fared on Friday, March 14, 2025.

Peso may strengthen further vs dollar

BW FILE PHOTO

THE PESO may continue to appreciate against the dollar this week before the US Federal Reserve’s policy meeting and amid the Russia-Ukraine ceasefire talks.

The local unit closed at P57.251 per dollar on Friday, strengthening by 10.9 centavos from its P57.36 finish on Thursday, Bankers Association of the Philippines data showed.

Week on week, however, the peso went down by 4.5 centavos from its P57.206 finish on March 7.

The peso strengthened on Friday amid risk-on sentiment following reports of a potentially longer ceasefire between Russia and Ukraine, a trader said in a phone interview on Friday.

The dollar was weaker early on Friday on US Federal Reserve rate-cut bets following mixed economic data, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

For this week, the trader said the peso may gain further if the peace talks among Russia, Ukraine and the United States push through. Markets will also await the results of the Fed’s meeting this week, as well as developments in the Trump administration’s trade policies, the trader added.

The Fed will meet to review its policy settings on March 18-19. Markets widely expect the US central bank to extend its pause but are awaiting fresh policy signals from Fed Chair Jerome H. Powell.

The trader sees the peso moving between P57 and P57.40 per dollar this week, while Mr. Ricafort sees it ranging from P57 to P57.50.

Russia and Ukraine continued aerial attacks on each other, inflicting injuries and damages, officials said early on Sunday, as the fate of a proposed ceasefire to the three-year-old war remained uncertain, Reuters reported.

Russian President Vladimir Putin said on Thursday he supported in principle Washington’s proposal for a 30-day ceasefire with Ukraine but that his forces would fight on until several crucial conditions were worked out. — Aaron Michael C. Sy with Reuters

Market seeks new leads to maintain momentum

REUTERS

PHILIPPINE STOCKS may move sideways this week as the market looks for fresh leads to maintain its momentum amid lingering uncertainty over the Trump administration’s tariff plans.

On Friday, the bellwether Philippine Stock Exchange index (PSEi) rose by 0.83% or 52.04 points to end at 6,294.11, while the broader all shares index increased by 0.54% or 20.2 points to 3,721.60.

Week on week, however, the PSEi slipped by 0.07% or 4.18 points from the 6,298.29 close on March 7. 

“Local equities seesawed for most of the week as sentiment weighed the impact of local political and economic headlines,” online brokerage firm 2TradeAsia.com said in a market note. “While the macro narrative continues to oscillate widely between inflation-interest rate anxieties and geopolitics, the unfolding of the earnings season shows a sharp contrast: data show outperformance in our monitored sectors, with earnings growth in the double digits.”

For this week, Philippine shares could be range-bound, Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message.

“The local market is still trying to maintain the upward momentum it started after bottoming on Jan. 31. To keep the uptrend, however, it must surpass its recent high of 6,279.42 touched last March 25. Currently, the market is testing its 50-day exponential moving average,” Mr. Tantiangco said. “At its current position, the market remains undervalued, leaving rooms of opportunities for long-term investors.”

“However, downside risks remain, mainly the global economic risks brought by the US protectionist trade policies. On a positive note, the peso has been strengthening recently. A continuation of this is expected to help in sustaining the market’s rise. Investors are also expected to watch out for the remaining fourth quarter and full-year 2024 corporate reports. Strong results are also expected to help in driving the market higher.”

Mr. Tantiangco put the PSEi’s major support at 6,000 and major resistance at 6,400.

For his part, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort placed the PSEi’s support at 6,000 and resistance at 6,300-6,530.

“The PSEi continued to gains after recent political noises remained manageable so far…However, as a matter of prudence, the markets could still be on a wait-and-see mode if there would be risk of political noises in the coming days, but would remain noises for as long as there are no large protest rallies and no other forms of destabilization that could distract the government from more important priorities,” he said via Viber.

2TradeAsia.com put the PSEi’s immediate support at 6,000 and resistance at 6,400.

“Reasons to tilt toward cautious optimism are becoming more opaque, but keep in mind that broader markets remain entrenched in macro uncertainty. March inflation data that could eventually pave way for an April rate cut might provide the escape velocity the PSEi requires to approach 6,500,” it said. — Revin Mikhael D. Ochave

Land-area minimums imposed for pharma economic zones

THE Philippine Economic Zone Authority (PEZA) said pharmaceutical economic zones (pharma zones) must be built on sites with an area of at least 10,000 square meters (sq.m.) in major cities.

According to PEZA Board Resolution No. 25-050, the minimum size applies to pharma the minimum contiguous land area for pharma zones in the National Capital Region (NCR) and other metropolitan areas.

The minimum land requirement for pharma zones outside the NCR and other metropolitan areas is 50,000 sq.m.

“The release of the guidelines provides clear direction on the establishment of pharma zones,” PEZA Director General Tereso O. Panga said in a Facebook post on Sunday.

“These zones are expected to attract substantial pharma, medical, and healthcare-related investments, advanced technology, and increase local production and research — creating numerous jobs and enhancing the country’s export potential — positioning the Philippines as a competitive player in the global pharmaceutical market,” he added.

According to the investment promotion agency, the board approved the guidelines in a meeting late last month.

“The move was in response to the directives of President Ferdinand R. Marcos, Jr. to make medicines more accessible to the Filipino people and to encourage more local producers to boost their R&D and manufacturing capabilities and lower drug costs for the general public,” PEZA said.

Aside from the land area requirements, the guidelines also outlined the preferred investments that can be registered with PEZA to avail of incentives on offer for pharma zones.

These activities include research, development, and manufacturing of medical drugs and devices, active ingredients, biologicals, vaccines, in vitro diagnostic reagents, and radiation-emitting devices or equipment.

“This shall include activities related to raw materials, packaging materials, and other pharmaceuticals, medical devices, or health products as may be certified by the FDA (Food and Drug Administration),” according to the resolution.

It added that the “pharma zone registered business enterprise (RBE) shall efficiently operate and contribute to the development of the preferred area in particular and of the national economy in general.”

Under Title XIII of the Tax Code, fiscal incentives that pharma zone RBEs are eligible for include income tax holidays, special corporate income tax, and enhanced deductions regimes, among others.

Aside from the fiscal incentives, the RBEs can also employ foreign nationals in executive, supervisory, or advisory positions, with PEZA visas allowing multiple entry issued to non-resident foreign nationals and their qualified dependents.

They can also enjoy streamlined processing of applications for environmental compliance certificates and applications for permits, licenses, or certifications, and simplified customs procedures.

However, the resolution clarified that partially developed or existing economic zones, facilities, and existing RBEs are not entitled to the incentives. — Justine Irish D. Tabile

Toll road regulator targets no-barrier toll plazas within three years

PHILIPPINE STAR/ MICHAEL VARCAS

THE Toll Regulatory Board (TRB) said it has set a target of up to three years to roll out barrierless toll plazas.

“For barrierless, we are looking at a two to three year period… Right now, we are drafting the policy document,” TRB Executive Director Alvin A. Carullo told reporters recently.

The regulator also wants to make toll road ticketing systems cashless and interoperable within the year in the face of opposition from the Department of Transportation, which has called cashless systems anti-poor.

Mr. Carullo said that once the toll concessionaires introduce cashless systems and interoperability, barrierless would be the next step.

Metro Pacific Tollways Corp. (MPTC) Chairman Manuel V. Pangilinan has said that the company remains optimistic about the potential of barrierless despite the suspension of the cashless system.

In 2024, MPTC announced that it is planning to allocate up to P10 billion for a barrierless toll system.

Tollway operators have said that cashless is needed to enable interoperability among toll wallet systems and the eventual shift to barrierless.

MPTC is the tollway subsidiary of Metro Pacific Investments Corp., one of three key Philippine units of Hong Kong-based First Pacific Co. Ltd., alongside Philex Mining Corp. and PLDT Inc.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., holds a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Ashley Erika O. Jose

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