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PHL banking on halal to cushion US tariff blow

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THE Department of Agriculture (DA) said new markets for Philippine farm exports, including halal-certified products, will help mitigate the uncertainty generated by the US tariffs.

Agriculture Secretary Francisco Tiu Laurel, Jr. has been pursuing negotiations to widen the access of Philippines farm exports, DA spokesman and Assistant Secretary Arnel V. de Mesa said at a briefing.

Currently, the Philippines is working to boost its halal exports to the Middle East, he said, while targeting Italy and Spain among European markets.

Mr. De Mesa noted that Mr. Laurel has also visited Japan and South Korea to seek lower tariffs for Philippine agriculture products.

He said the Japanese government has agreed to review — and potentially lower —tariffs imposed on Philippine bananas, which are charged an 18% duty between April 1 and Sept. 30 and 8% between Oct. 1 and March 31 under the Japan-Philippines Economic Partnership Agreement (JPEPA).

Mr. De Mesa reitared that the 17% tariff to be imposed by the US on Philippine goods will not have a major impact on domestic agriculture.

After the US, Japan and China are the next largest markets for Philippine exports, he noted

“Also, our goods are exported to many Asian markets,” he said in Filipino.

The US, which accounts for about 17% of total Philippine agricultural trade, has paused its plan to impose additional tariffs on most countries except China.

In Southeast Asia, Cambodia faces the steepest tariff at 49%, followed by Laos (48%), Vietnam (46%), Myanmar (44%), Thailand (36%), Indonesia (32%), Malaysia (24%) and Brunei (24%). Singapore will be imposed a baseline tariff of 10%. — Kyle Aristophere T. Atienza

Budget releases nearly 81% at end of March

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THE Department of Budget and Management (DBM) said 80.7% of the 2025 national budget has been disbursed as of the end of March.

According to its Status of Allotment Releases report, the DBM said it released P5.11 trillion of the P6.326-trillion budget, with a P1.22-trillion balance.

The release rate was behind the 83.2% pace at the end of March 2024.

Of the released funds, P3.43 trillion went to government agencies and departments, leaving P540 billion still undisbursed.

The Department of Public Works and Highways received P1.11 trillion or 96.6% of its P1.09 trillion allotted funds.

Meanwhile, Special Purpose funds releases amounted to P246.76 billion.

Automatic appropriations release totaled P1.39 trillion, with a P719.79 billion balance.

These included P1.03 trillion for the National Tax Allotment, P152.88 billion for interest payments, P83.42 billion for the Block Grant, and P75.59 billion for government agencies’ retirement and life insurance premiums.

Unprogrammed appropriations (UA) worth P7.51 billion were also released.— Aubrey Rose A. Inosante

Developers urged to allocate more space to favor pedestrian traffic

INTERAKSYON — FACEBOOK/MACKY FERNANDO

DEVELOPERS need to allocate more space to ensure commuter safety and promote inclusive mobility, mobility advocates said.

“The land use plan only allocates, as per our HLURB (Housing and Land Use Regulatory Board) guidelines, 30% for open spaces for a big parcel of land,” Jose Ramon Carunungan, principal architect at Carunungan & Partners Co., told BusinessWorld on the sidelines of a briefing Thursday.

“I think we have to look into increasing (open spaces) so we can prioritize pedestrians instead of vehicles” he said, citing Presidential Decree No. 1216.

“A proper land use plan will also ensure that important services are accessible and within a reasonable commuting distance,” Move As One Coalition Co-convenor Robert Y. Siy, Jr. said after the briefing.

“There are many different approaches to working out a proper land use arrangement, but what’s important is that there should be a right fit between transportation and land use.”

Some 94% of Filipinos commute, while only 6% own four-wheeled vehicles, according to a 2022 survey by the Social Weather Stations.

Commuters face inconveniences like narrow sidewalks, car-centric infrastructure, and the lack of inclusive mobility infrastructure especially for the elderly and persons with disabilities (PWD).

About 35% of all fatal crashes in Metro Manila involve pedestrians, according to Antonio Pagulayan, who heads the traffic education unit of the Metro Manila Development Authority.

“In road safety, we do not call these catastrophic events ‘accidents’ or ‘mishaps,’ because a road crash occurs as a result of risks ignored and bad decisions made,” Dinna Louise C. Dayao, communications consultant at Move As One Coalition, said at the briefing.

The Philippines loses about $11 billion from deaths and injuries caused by road crashes, the Asian Transport Observatory reported.

Mr. Siy also called Metro Manila’s footbridges “hostile infrastructure,” citing the recent death of a 75-year-old PWD who died of a brain hemorrhage after slipping on the stairs of a footbridge.

Maureen Ava Mata, accessibility and inclusivity co-convenor at the Move As One Coalition, said inclusivity is an afterthought during fatal accidents involving pedestrians.

She also called for the full implementation of the Accessibility Law to ensure PWDs have more mobility options. — Beatriz Marie D. Cruz

Peso slips vs dollar as BSP resumes easing cycle

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THE PESO slipped against the dollar on Thursday as players took positions following the Bangko Sentral ng Pilipinas’ (BSP) move to resume its easing cycle.

The local unit closed at P57.35 per dollar on Thursday, weakening by four centavos from its P57.31 finish on Tuesday, Bankers Association of the Philippines data showed.

The peso opened the session sharply stronger at P57.18 against the dollar. Its worst showing was at P57.355, while its intraday best was at P57.14 versus the greenback.

Dollars exchanged went down to $1.48 billion on Thursday from $1.97 billion on Tuesday.

“The dollar-peso initially traded higher on improving risk sentiment after US President Donald J. Trump announced the 90-day tariff pause,” a trader said in a phone interview.

“However, it [dropped] on expectations that the BSP will cut rates, which it did, and after the BSP signaled further rate cuts for the rest of the meetings,” the trader added.

The peso’s rally lost steam as players positioned before the BSP’s announcement of its policy decision later in the session, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort likewise said in a Viber message.

The Monetary Board on Thursday cut benchmark interest rates by 25 basis points (bps) to bring the policy rate to 5.5%, as expected by all 17 analysts in a BusinessWorld poll.

BSP Governor Eli M. Remolona, Jr. said expectations of easing inflation support the shift to a more accommodative monetary policy stance.

He added that the Monetary Board is considering further rate cuts but maintained that these will be delivered in “baby steps” of 25 bps at a time.

“For now, what we’re looking at is a few more cuts, but we have more meetings than the number of cuts we are thinking about,” Mr. Remolona said.

The Monetary Board has four meetings left this year, which are scheduled for June 19, Aug. 28, Oct. 9, and Dec. 11.

For Friday, the trader expects the peso to move between P57.10 and P57.50 per dollar, while Mr. Ricafort sees it ranging from P57.25 to P57.45. — Aaron Michael C. Sy

Stocks climb as Trump pauses reciprocal tariffs

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PHILIPPINE STOCKS climbed on Thursday as the United States suspended the implementation of most “reciprocal” tariffs it had imposed on its trading partners.

The benchmark Philippine Stock Exchange index (PSEi) rose by 1.19% or 71.48 points to close at 6,077.82, while the broader all shares index increased by 1.12% or 40.14 points to end at 3,622.94.

“The market closed higher on the back of a relief rally in reaction to President Donald J. Trump’s decision to temporarily pause most reciprocal tariffs, including those on the Philippines,” China Bank Capital Corp. Managing Director Juan Paolo E. Colet said in a Viber message.

“The benchmark index opened strongly in the morning, but some of those gains melted away over the trading session as investors took profits and trimmed positions to hedge against the escalating trade war between the US and China. Nonetheless, market optimism was partly sustained by traders placing bets that the Bangko Sentral ng Pilipinas (BSP) would cut its policy rate,” he added.

Mr. Trump said he would temporarily lower the hefty duties he had just imposed on dozens of countries while further ramping up pressure on China, sending global stocks rocketing higher, Reuters reported.

The turnabout on Wednesday came less than 24 hours after steep new tariffs kicked in on most trading partners.

A 10% blanket duty on almost all US imports will remain in effect, the White House said.

Meanwhile, the Monetary Board on Thursday cut benchmark interest rates by 25 basis points, the BSP announced at the stock market’s close. This brought the policy rate to 5.5%.

“The PSEi rose this Thursday, taking cues from Wall Street’s rally overnight. The local market continued with its run as investors appreciated Mr. Trump’s move to temporarily drop tariff rates for most of its trading partners with higher tariffs to 10% to give room for negotiations,” Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message.

Overnight, the Dow Jones Industrial Average surged by 7.87% or 2,962.86 points to 40,608.45; the S&P 500 went up by 9.52% or 474.13 points to 5,456.90; and the Nasdaq Composite climbed by 12.16% or 1,857.06 points to 17,124.97.

At home, all sectoral indices closed higher. Mining and oil surged by 6.44% or 561.79 points to 9,276.33; holding firms climbed by 3.76% or 184.15 points to 5,074.22; industrials went up by 1.27% or 107.55 points to 8,545.6; property increased by 1.08% or 23.50 points to 2,181.57; financials rose by 0.11% or 2.83 points to 2,373.37; and services inched up by 0.01% or 0.25 point to 1,916.63.

Value turnover surged to P13.31 billion on Thursday with 951.3 million shares traded, from the P6.42 billion with 1.22 billion issues exchanged on Tuesday.

Advancers outnumbered decliners, 129 versus 72, while 46 names were unchanged.

Net foreign selling went down to P110.26 million on Thursday from P427.75 million on Tuesday. — Revin Mikhael D. Ochave with Reuters

Smart scores big with NBTC, shapes future of PHL basketball

THE SMART-NBTC NATIONAL FINALS, supported by Smart Sports and Puso Pilipinas, featured thrilling matches that captivated basketball fans nationwide.

MOBILE services provider Smart Communications, Inc. (Smart) successfully concluded the 2025 Smart-National Basketball Training Center (NBTC) National Finals. This year’s event brought together the best Filipino high school basketball teams, both local and international, to compete for the championship title, showcasing the exceptional talent and dedication of young athletes from across the country.

The Smart-NBTC National Finals, supported by Smart Sports and Puso Pilipinas, featured thrilling matches that captivated basketball fans nationwide. All games were livestreamed on PusoP.Com, allowing fans to watch their favorite teams and players in action.

Jude Turcuato, PLDT and Smart Head of Sports, expressed his pride in the continued partnership with NBTC. “Smart is committed to empowering young athletes from the grassroots level. Through our support for the NBTC, we aim to provide these talented individuals with the resources and opportunities they need to excel in their sport and achieve their dreams. The success of the 2025 Smart-NBTC National Finals is a testament to our dedication to nurturing the next generation of Filipino basketball stars.”

In an interview with Puso Pilipinas, former Los Angeles Lakers shooting guard and NBA coach Byron Scott spoke about his experience coaching young athletes in this year’s NBTC. “The passion here in the Philippines about basketball is unmatched. It really is something special to watch, they play it with such a passion, and they play so hard, and they have very high basketball IQs, too. It’s really good to see the revolution of basketball here from when I was here eight to ten years ago till now has really developed.”

The NBTC has a rich history of producing prominent names in basketball, including Houston Rockets guard Jalen Green, Gilas Pilipinas center Kai Sotto, Kamaka Hepa, Kihei Clark, Jeron Artest, Kai Ballungay, Jared Bahay, and Kieffer Alas. Their participation in previous NBTC tournaments highlights the event’s significance in developing future basketball talents. Also present at the finals is Filipino-American comedian Jo Koy, who sponsored Fil-Nation Jo Koy, an under-19 girls squad in the finals.

Smart remains steadfast in its mission to promote sports development and inspire young athletes to reach their full potential. All these initiatives highlight PLDT and Smart’s continuing contribution to the United Nations Sustainable Development Goals (SDGs), particularly SDG 3: Good Health and Well-Being.

PBA’s 50th Anniversary offering teeming with nostalgia

THE Philippine Basketball Association’s (PBA) Philippine Cup offering on its 50th Anniversary bash on Wednesday was teeming with nostalgia.

San Miguel Beer put on the classic white top with red trunks uniforms worn by the likes of the late Yoyong Martirez in the early 80s PBA. The Beermen’s rival, Meralco, also went “retro,” using the orange jerseys Robert Jaworski and Company donned during the club’s MICAA days in the 70s.

Jimmy Noblezada, the original “Ironman” who saw action in the very first PBA game half a century ago, intensified the “throwback” atmosphere at the historic Rizal Memorial Coliseum (RMC) with his presence, even jokingly banging his body with SMB’s June Mar Fajardo and Meralco’s Raymond Almazan before the tipoff of the retro game.

Elmer Cahabug, one of the league’s greatest shooters, joined Mr. Noblezada and thousands of fans wearing “PBA 50” shirts in the celebration.

For San Miguel coach Leo Austria, there’s an extra nostalgic feeling in leading his team at the RMC.

“When I got here, I have goosebumps reminiscing. Before this game, I really wanted to win because there’s something special in this place,” he added.

And thanks to the Beermen’s vengeful 110-98 romp over Season 48 All-Filipino finals tormentor Meralco in this anniversary day tussle, Mr. Austria, the 1985 PBA Rookie of the Year, had one more happy experience at the RMC to cherish. — Olmin Leyba

International Series Philippines to feature LIV Golf League and Asian Tour big-name players

PRIME MOVERS of The International Series Philippines presented by BingoPlus brim with excitement as they talk about the anticipated staging of the landmark event on Oct. 23 to 26 at the Sta. Elena Golf Club in Sta. Rosa, Laguna.

Offering a prize purse of $2 million and tipped to feature some big-name players from the LIV Golf League and the Asian Tour, this will be the International Series’ maiden gig on Philippine soil.

“We’re still six months out from the event but I think the public, golf fans and all stakeholders can look forward to some really world-class golf and world-class entertainment,” said Rahul Singh, Head of The International Series, as he and Vicky Jones, Managing Director of 54 Asia-Pacific, briefed select reporters on ongoing preparations yesterday.

“It’s a given they can expect fantastic golf at an incredible facility but what the International Series will also bring is that sense of fun and entertainment. It’s an event for everyone — for families, golf fans, casual fans. We’re looking at creating a great experience for all ages. We’ll have our traditional audience who will be on the fairways watching play but we’re also looking at incorporating family activities on the side at the venue,” said Ms. Jones.

Mr. Singh declined to name the big guns expected to fly in but assured Pinoy fans of “an array of international stars.”

“The event sits at such a crucial time. It’s right towards the end of the season and players from LIV will be jockeying for position, players from the Asian Tour will be trying to get Order of Merit points. They’re playing for a lot in that final stretch which always is a good sign for players who are looking to come in to play so that would be another factor we hope will drive greater participation,” he said.

Mr. Singh and Ms. Jones are grateful to BingoPlus for making the first Philippine stop of the International Series a reality.

“They’ve been incredible. I think the limited interaction we’ve had so far has all been very positive, very driven at success and very clear on what they would like. I continue to be grateful for them for their participation and for bringing such a large event into the Philippines,” said Mr. Singh.

“I think also being able to create an incredible experience for their customers is going to be a key focus for us and that’s going to be critical to this great partnership,” Ms. Jones added. — Olmin Leyba

LPU Lady Pirates keep Final Four hopes alive in beating Lady Bombers

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Game on Friday
(SSC-R Gym)
9 a.m.- Letran vs SSC-R (M)
11 a.m.- Letran vs SSC-R (W)

LYCEUM of the Philippines University (LPU) routed Jose Rizal University, 25-22, 25-17, 25-19, on Thursday to continue to fight for dear Final Four life in NCAA Season 100 women’s volleyball at the San Sebastian College Gym.

The Lady Pirates used Joan Doguna and Johna Dolorito as its double-headed battering ram in posting their third victory against six defeats that somehow pumped some life to their dying campaign.

LPU hopes to turn things around in the second round unfurling after the Lenten break and surpass, if not replicate, its Final Four appearance a season ago.

The Lady Bombers fell to 1-8.

Earlier, LPU also resuscitated its bid in the men’s division after it survived JRU, 25-23, 25-18, 21-25, 18-25, 15-13, and improved to 2-17.

The Bombers slumped to 0-9. — Joey Villar

NBA playoff positioning stakes remain sky-high as Memphis Grizzlies host Minnesota Timberwolves

IF the Memphis Grizzlies want to avoid falling into the NBA’s postseason play-in tournament — for those teams finishing seventh through 10th in the Western Conference — the instructions are clear cut.

Close the season with three consecutive wins.

The Grizzlies (47-32) play visiting Minnesota (46-33) Thursday night, and both teams will be in similar positions. If the Grizzlies can win out, they will finish no worse than fifth.

As the final few days of the season play out, there is a logjam of teams in the Western Conference jockeying for a top-six finish. Only two games separate the third-place Los Angeles Lakers (48-31) from the eighth-place Timberwolves.

“We’re in a tough, tough battle with some other teams,” said Memphis interim coach Tuomas Iisalo. “And I couldn’t ask for more from (our) guys. They are doing everything they can, and we will keep working one day at a time to secure the best possible seeding for the postseason.”

Memphis will start the regular-season ending three-game stretch with momentum. The Grizzlies have won three straight road games, including a 124-100 victory Tuesday at Charlotte.

“It’s very hard to say if we are peaking or not,” Iisalo said. “I think we are playing very solid basketball at the moment.”

Memphis dealt the Hornets their fourth straight loss, but suffered a loss of its own. Rookie forward Jaylen Wells sustained a broken right wrist late in the first half when he was undercut on a dunk attempt by KJ Simpson. It’s a significant blow. Wells had started 74 games and averaged 10.4 points while often drawing the assignment of guarding the opposition’s top scorer.

The Grizzlies may call upon another rookie starter, 7-4 big man Zach Edey, to cushion the blow. Edey has had a strong late-season surge. After a franchise rookie record 21-rebound effort at Detroit Saturday, he followed with 17 points and 19 rebounds against Charlotte.

“I just feel like I’m in a rhythm,” Edey said. “Rebounding is kind of like scoring; you can get in a rhythm on the glass. I’m feeling contact, feeling the ball and reading the ball off the rim. It’s all rhythm.”

Edey played a team-high 31 minutes against Charlotte.

“He’s really putting a great stretch of games together and it actually looks sustainable because the things he’s doing are not really tied to luck,” Iisalo said. “He is playing with great confidence. He is playing with great poise and physicality. And he’s doing a lot of other things that are not showing up on the box score.”

Minnesota will attempt to regroup following a disheartening loss to Milwaukee. The Timberwolves built a 24-point lead with 10 minutes to play but were unable to hold on. The Bucks rallied behind a 40-13 fourth quarter in a 110-103 win.

The Timberwolves had won five straight entering their game against Milwaukee, and despite the loss, they can still finish as high as third in the conference race.

Minnesota coach Chris Finch called the loss a “tough one.”

“We’ve got to shake it off,” he said. “I have every confidence we’ll be able to fight back. We didn’t expect to go undefeated over our last 10 games. We have to get the ones that are there to be gotten.”

Timberwolves star Anthony Edwards had 25 points but was just 10 of 27 from the field against Milwaukee. — Reuters

Lakers win as Luka Doncic nets 45 in return to Dallas

LUKA DONCIC scored 31 of his 45 points in the first half of his highly anticipated Dallas homecoming as the visiting Los Angeles Lakers defeated the Mavericks 112-97 on Wednesday.

Doncic’s 46th career 40-point game was complemented by eight rebounds and six assists, while connecting on 16 of 28 from the floor and 7 of 10 3-pointers.

LeBron James posted 27 points and seven boards, and Rui Hachimura added 15 points as the Lakers (49-31) bolstered their grip on the third spot in the Western Conference.

Naji Marshall contributed 23 points and eight assists for Dallas, P.J. Washington scored 14, and Anthony Davis — in his first game for Dallas against his old side — finished with 13 points, 11 rebounds and six assists.

The result leaves Dallas (38-42) still requiring one more win to secure the 10th position in the West.

Doncic, traded from Dallas to Los Angeles for Davis as part of a blockbuster deal on Feb. 2, became emotional during a pregame video tribute, before receiving a deafening applause when his name was called during the starting lineup announcements.

Doncic, who averaged a franchise-record 28.6 points in 422 games for Dallas, received rousing cheers with every possession or score, particularly early.

His 14 first-quarter points were offset by five Los Angeles turnovers, as the Marshall-led Mavericks moved ahead 30-26 at the first break.

Doncic dominated the second period, draining 3 of 3 treys and scoring 17 of his team’s 34 points, as Los Angeles took a 60-57 lead at halftime.

James, who had just eight first-half points as he played second fiddle to Doncic, came alive in the third and helped the Lakers’ cushion balloon to 78-65, before Marshall single-handedly weathered the storm for Dallas and trimmed the gap back to 83-76 with a quarter to play.

Max Christie’s tip-dunk edged the Mavs in front 84-83, but their time ahead was brief as James spearheaded a 9-0 Los Angeles response inside 90 seconds, and the Lakers were never remotely threatened again.

Doncic’s stepback 3-pointer and strong drive blew the margin out to 110-94 before the five-time All-NBA First-Team selection substituted out with 1:34 remaining to a standing ovation. — Reuters

Nuggets fire coach

“Shocked” is by far the best way to describe the reaction pro hoops habitues had to the news that the Nuggets gave head coach Michael Malone the pink slip. It wasn’t simply that he had paced the sidelines for the blue and yellow over the last decade, or that he was just two years removed from giving the mile-high franchise its first National Basketball Association championship since it set up shop in 1967. More than anything else, the timing of the decision of the principals at Kroenke Sports & Entertainment had pundits looking in askance, what with the regular season about to end in five days.

All things considered, the only plausible reason for the Nuggets deciding to move on from Malone pronto stems from their desire to go deep in the 2025 Playoffs. Clearly, they saw the alarming swoon — a mere six wins in 15 matches through the last month, with four straight losses and counting — and figured a change was necessary to salvage the season. And, yes, they had cause to act with dispatch, especially with reigning Most Valuable Player awardee Nikola Jokic putting up career-best numbers and yet seeing little in return.

To be fair, the head honchos likewise fired general manager Calvin Booth, with whom Malone was at odds in regard to the Nuggets’ roster makeup. Not that the front office had much leeway to operate following their title run in 2023; as with all others in the league, the new collective bargaining agreement severely crimped options insofar as personnel movement was concerned. Still, there could be no denying the quality — or lack thereof — of the product on the floor, Jokic’s consistent brilliance notwithstanding.

Whether the Nuggets will be able to reap the intended benefits of the change remains to be seen. The good news is that erstwhile lead assistant David Adelman can best be described as both sharp and respected, and will, if nothing else, not be wanting in terms of Xs and Os. That said, it’s hardly fair to expect miracles from a late fill-in. Systemic infirmities never get solved quickly, and the very manner in which the divorce with Malone was handled underscores a dearth of patience from ownership.

The Nuggets have their work cut out for them. Their strength of schedule is among the worst in the NBA, and they’re on the losing end of tiebreakers vis-a-vis the rest of the contenders. True, there is always a chance of success whenever Jokic suits up. On the other hand, he can do only so much to make up for the shortcomings of those around him. Malone or no, they need no small measure of luck to avoid the play-in tournament, let alone go far in the postseason.

 

Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994. He is a consultant on strategic planning, operations and human resources management, corporate communications, and business development.