DigiPlus to enter offline casino via P12-B deal

November 19, 2025 | 12:09 am

Roulette wheel and croupier hand with white ball in casino — STOCK PHOTO | Image by YuliiaKa from Freepik

DIGIPLUS Interactive Corp. (PLUS), a listed digital entertainment provider behind BingoPlus, ArenaPlus, and GameZone, has signed a convertible notes agreement granting it the rights to acquire a controlling stake in International Entertainment Corp. (IEC), which owns and operates New Coast Hotel Manila, an integrated hotel and casino complex.

“This move marks a defining step toward DigiPlus’ long-term goal to create the most innovative and enjoyable experiences through an entertainment ecosystem, powered by cutting-edge technology and localized products for different cultures,” DigiPlus Chairman Eusebio H. Tanco said in a statement on Tuesday.

The subscription for convertible notes totals HK$1.6 billion (approximately P12 billion) and will be issued in two tranches.

The first tranche, worth HK$800 million, will be completed upon satisfaction of customary conditions, while the second tranche will follow within three months, subject to mutually agreed terms.

“Through this transaction, we are expanding our omnipresent ecosystem — bridging digital innovation with real-world experiences — to create a new era of entertainment that is engaging, responsible, and globally competitive,” Mr. Tanco said.

DigiPlus has the option to convert the notes into shares to acquire about 53.89% of IEC’s issued capital stock at an agreed initial conversion price of HK$1 per share, with a 3% annual interest rate. If DigiPlus does not convert, the notes will be redeemable at 108% after five years.

Upon conversion, the acquisition will “strengthen DigiPlus’ omnipresent entertainment ecosystem by adding a strategic offline platform that seamlessly connects with its digital network, enhancing brand activation, player engagement, and customer experience across both physical and online touchpoints,” the company said.

“The potential acquisition allows DigiPlus to optimize its group structure by combining IEC’s expertise in hospitality and gaming management with DigiPlus’ leadership in digital entertainment and technology,” it added.

The transaction is subject to approval by IEC shareholders at an Extraordinary General Meeting after execution of the convertible notes subscription agreement, as well as clearance from the Securities and Futures Commission of Hong Kong and the HKEx.

Conversion of the notes is also subject to approval by the Philippine Competition Commission.

DigiPlus reported a net income attributable to the parent company of P1.71 billion for the third quarter (Q3), down 51% from P3.52 billion in the same period last year.

The decline was primarily driven by higher operating expenses, including a 50% increase in depreciation and amortization, as well as a foreign exchange loss of P69.4 million. Finance income of P48.7 million and a decrease in finance expenses partially offset the impact. Earnings before interest, taxes, depreciation, and amortization (EBITDA) for the quarter fell 47% to P2.04 billion.

For the first nine months, DigiPlus posted an attributable net income of P10.11 billion, up 16% from P8.74 billion a year ago. EBITDA for the nine-month period rose 19% to P11.13 billion.

Revenue for the quarter remained essentially flat at P19.05 billion, versus P19 billion in Q3 2024, with retail gaming revenue holding steady at P18.76 billion and rental income from casinos rising 11% to P145.9 million. Other income streams, including service and hosting fees, declined 38% to P65.4 million.

Over the first nine months, DigiPlus achieved consolidated revenue of P66.83 billion, up 30% from P51.56 billion a year ago.

On Tuesday, DigiPlus shares fell by 4.94% or P1.30 to close at P25 apiece. — A.G.C. Magno

Coming of age: 40 years later, Bagets returns

November 19, 2025 | 12:09 am

The-cast-of-Bagets-The-Musical-2026 — THE CAST of Bagets The Musical

The musical looks at how boys — and their mothers — grow up

FOUR DECADES after the movie Bagets captured the spirit of Filipino youth, a musical adaptation will be mounted for generations both young and young at heart to relive the fun onstage. The experience will come to the Newport Performing Arts Theater from Jan. 23 to March 2026.

The original coming-of-age comedy revolved around five young men entering their senior year in a new high school after having been kicked out of their previous school. Like in the film, the stage version will follow their adventures and misadventures, alongside their complex family issues.

Bagets The Musical is helmed by PETA Plus and produced by Viva Communications, Inc., and the Philstar Media Group through its entertainment arm, Philstar Next.

“It’s going to be fun, meaningful, and heartfelt, about the roots of youth culture,” said director Maribel Legarda, at a press conference in Pasay City on Nov. 14. “The focus here is the way mothers take care of their sons, that relationship growing up, the formation or making of these men. Where does the macho quality come in? That’s all deep-rooted stuff in our culture which maybe we take for granted. This is a fun way of looking at that.”

She added that Bagets The Musical will “tackle the male psyche” in a fun way, as PETA is known for. “It’s going to be set in the relationships between mothers and their sons, and of course the barkada themselves, that extended community that helps us survive life,” she said.

Supporting Ms. Legarda in the creative team is writer J-mee Katanyag, musical director Vince Lim, and choreographer JM Cabling. They are also joined by Norbs Portales as assistant director and Michael Que as assistant choreographer.

THE NEW BAGETS
Bringing to life the characters of Bagets The Musical are Jeff Moses and Sam Shoaf who play Topee, the martial arts ace and athletic heartthrob originally portrayed by JC Bonnin in the film. Then, Migo Valid and Milo Cruz take on Tonton, the barkada’s daredevil who was first played by William Martinez.

Noel Comia, Jr. and Tomas Rodriguez portray Gilbert, the class clown made memorable by Herbert Bautista. KD Estrada and Ethan David step into the role of Arnel, the well-mannered, uptight boy originally played by Raymond Lauchengco. Completing the barkada are Mico Hendrix Chua and Andres Muhlach as Adie, the baby-faced charmer and resident romantic first brought to life by Aga Muhlach — who happens to be Andres Muhlach’s father.

The project is a full-circle moment for the younger Mr. Muhlach, the only cast member with any relation to someone involved in the 1984 film.

“Years ago, when I was a boy, watching Bagets for the first time with my dad and my family, we never imagined that I’d be Adie, too. I’m really proud,” he said.

On his observations having watched the film many times, he said: “I realized that the original film is almost like a musical because throughout the film it’s really about the music being played, and it’s blocked like a musical.

“The essence of it is the ensemble, the group of friends, and the ups and downs that come with their life stories. We want to portray that barkada feeling,” Mr. Muhlach added.

As for Mr. Estrada, who is playing Arnel, it was clear that they had to respect the time period.

“This is nostalgic for people who grew up with this. It’s a story about five boys in high school, learning what it actually is to be a man, to grow up. I’ve gotten messages from titos and titas about how much it has shaped them,” he said.

Mr. Comia, a young theater veteran playing Gilbert, added that it will also resonate with people “whose family is not their home.”

“For these bagets, their home is their barkada. It’s for people who aren’t connected with their families, who have found a stronger bond with other people,” he explained.

With this, the ermats of the boys have bigger roles in the musical than they had in the film, as mothers concerned for their growingly distant sons. Neomi Gonzales plays Ana, the mother of Topee; Kakai Bautista and Natasha Cabrera alternate as Delia, the mother of Tonton; Mayen Cadd portrays Ditas, the mother of Arnel; Ring Antonio takes on Luz, the mother of Gilbert; and finally, Carla Guevara Laforteza plays Virgie, the mother of Adie.

For Mr. Valid, who plays Tonton, the musical offered him a new perspective on what it must have been like for his parents.

“Nothing has really changed for kids then and now,” he said. “Akala namin pinapagalitan kami kasi hindi nila ito ginagawa noon. ’Yon pala, ganito din sila noon! (When our parents scolded us, we used to think it’s because they didn’t do the things we do now. It turns out, they were also once like us!)”

A SPOONFUL OF SUGAR
As for what Bagets The Musical offers to generations today, Mr. Moses, taking on the role of Topee, said that it glimpses a life beyond social media.

“The youth now are mainly exposed to social media. The bagets before, their only entertainment was hanging out with each other, with the barkada. We still relate to that, but I hope we can inspire younger generations to get off their phone to physically be with their friends,” he said.

Director Ms. Legarda added that “they’re in the ’80s, but also ‘in the present,’ in terms of current discourse.”

“We’re balancing that with humor and a lot of fun, because a play should always be entertaining. Whatever discourse you want to inject should not be a burden on the audience. It should be with a spoonful of sugar,” she said.

For the writer Ms. Katanyag, Bagets The Musical has come at the best time, 40 years after the original film. Ultimately, it’s about “different forms of coming of age.”

“This adaptation isn’t just about the literal growing up of these boys, but also mothers trying to grow up beyond their careers, as mothers and as women. It’s for the boys learning how to be men, and in general for us to learn how to be a Filipino in this time. It’s a coming of age for all of us,” she explained.

“What’s interesting about 1984 is that it’s a transition period, before MTV, nearing post-Martial Law, and the emergence of working women. It’s the perfect time and milieu for us in 2025 to examine its character — its passion, its ferocity, and all its neon colors.”

Bagets The Musical is set to run from Jan. 23 to March 2026 at the Newport Performing Arts Theater in Pasay City. Tickets, ranging in price from P1,000 to P4,000, are now available at the Newport World Resorts Box Office and via TicketWorld. — Brontë H. Lacsamana

SM Prime sets Q1 2026 target for P2.3-B SM City Iloilo revamp

November 19, 2025 | 12:08 am

SY-LED property developer SM Prime Holdings, Inc. said it targets to complete the P2.3-billion redevelopment of SM City Iloilo by the first quarter of 2026.

The redevelopment will add 7,900 square meters (sq.m.) of gross leasable area (GLA) to the mall, which will house expanded retail and dining options, the company said in a statement on Tuesday.

The expansion will feature upgraded mall interiors, new zones for athleisure and entertainment, and concepts such as Game Park, Fantasy World, Decathlon, TGI Friday’s, and Chili’s.

Infrastructure enhancements include motion sensor escalators, an expanded skylight, a multi-level car park, and improved access to the SM Strata office building.

Around 23,670 sq.m. of GLA will be allocated to a new National University campus beside the mall, which is expected to boost foot traffic.

The upgraded mall will also include eco-friendly features such as rooftop solar panels and advanced daylighting systems, the company said, in line with its sustainability initiatives.

“SM Iloilo has always been a regional growth driver for SM Prime, and we believe that it has the potential to grow even more,” SM Prime President Jeffrey C. Lim told reporters last week.

“That’s why we are investing to support that progress… we think that it (SM City Iloilo) can become a more integrated and future-ready destination for the province of Iloilo,” he added.

SM City Iloilo, which first opened in 1999, was the eighth SM Supermall built by the company. It underwent expansions between 2009 and 2016 and has since become the second-largest shopping mall in the Western Visayas region.

SM Prime has earmarked P150 billion for 16 mall redevelopments and 12 new lifestyle malls. Other malls in its redevelopment pipeline include SM Megamall, SM North EDSA, SM City Seaside Cebu, SM Lanang in Davao City, and SM City Clark in Pampanga.

The company reported an 8% increase in third-quarter net income to P12.8 billion, with its malls posting 7% growth to P61 billion, accounting for 59% of consolidated revenues.

On Tuesday, SM Prime shares rose 4.65% or 95 centavos, closing at P21.40 apiece. — Beatriz Marie D. Cruz

What AI earbuds can’t replace: The value of learning another language

November 19, 2025 | 12:08 am

language-concept-with-speech-bubbles — FREEPIK

YOUR HOST in Osaka, Japan, slips on a pair of headphones and suddenly hears your words transformed into flawless Kansai Japanese. Even better, their reply in their native tongue comes through perfectly clear to you.

Thanks to artificial intelligence (AI), neither of you is lost in translation. What once seemed like science fiction is now marketed as a quick fix for cross-cultural communication.

Such AI-powered tools will be useful for many people, especially for tourists or in any purely transactional situation, even if seamless automatic interpretation remains at an experimental stage.

Does this mean the process of learning another language will soon be a thing of the past?

As scholars of computer-assisted language learning and linguistics, we disagree and see language learning as vital in other ways. We have devoted our careers to this field because we deeply believe in the lasting and transformative value of learning and speaking languages beyond one’s mother tongue.

LESSONS FROM PAST LANGUAGE ‘DISRUPTIONS’
This isn’t the first time a new technology has promised massive disruption to learning languages.

In recent years, language learning startups such as Duolingo aimed to make acquiring a language easier than ever, in part by gamifying language. While these apps have certainly made learning more accessible to more people, our research shows most platforms and apps have failed to fully replicate the inherently social process of learning a language.

One thing’s clear: The massive popularity of language apps shows there’s still strong demand for language learning, despite a sharp decline in formal education settings. Duolingo alone had 113.1 million monthly active users around the world at the end of 2024, a 36% increase over the prior year. This is about 10 times more than the number of students who take languages other than English in US schools.

THE MEANING OF LEARNING A LANGUAGE
Numbers aside, the gold standard of language learning is the ability to follow and contribute to a live group conversation.

Since World War II, government departments and education programs recognized that text-centered grammar-translation methods did little to support real interaction. Interpersonal conversational competence gradually became the main goal of language classes. While technologies you can put in your ear or wear on your face now promise to revolutionize interpersonal interaction, their usefulness in such conversations actually falls along a spectrum.

At one end, you have simple tasks you have to navigate while visiting a city where they speak a different language, like checking out of a hotel, buying a ticket at a kiosk, or finding your way around town. That is, people from different backgrounds working together to achieve a goal — a successful checkout, a ticket purchase, or getting to the famous museum you want to visit. Any mix of languages, gestures or tools — even AI tools — can help in this context. In such cases, where the goal is clear and both parties are patient, shared English or automated interpretation can get the job done while bypassing the hard work of language learning.

At the other end, identity matters as much as content. Meeting your in-laws, introducing yourself at work, welcoming a delegation, or presenting to a skeptical audience all involve trust and social capital. Humor, idioms, levels of formality, tone, timing, and body language shape not just what you say but who you are.

The effort of learning a language communicates respect, trust, and a willingness to see the world through someone else’s eyes. We believe language learning is one of the most demanding and rewarding forms of deep work, building cognitive resilience, empathy, identity, and community in ways technology struggles to replicate.

The 2003 movie Lost in Translation, which depicts an older American man falling in love with a much younger American woman, was not about getting lost in the language but delved into issues of interculturality and finding yourself while exposed to the other.

Indeed, accelerating mobility due to climate migration, remote work, and retirement abroad all increase the need to learn languages — not just translate them. Even those staying in place often seek deeper connections through language as learners with familial and historical ties.

WHERE AI FALLS SHORT
The latest AI technologies, such as those used by Apple’s newest AirPods to instantly interpret and translate, certainly are powerful tools that will help a lot of people interact with anyone who speaks a different language in ways previously only possible for someone who spent a year or two studying it. It’s like having your own personal interpreter.

Yet relying on interpretation carries hidden costs: distortion of meaning, loss of interactive nuance, and diminished interpersonal trust.

An ethnography of American learners with strong motivation and near limitless support found that falling back on speaking English and using technology to aid translation may be easier in the short term, but this undercuts long-term language and integration goals. Language learners constantly face this choice between short-term ease and long-term impact.

Some AI tools help accomplish immediate tasks, and generative AI apps can support acquisition but can take away the negotiations of meaning from which durable skills emerge.

AI interpretation may suffice for one-on-one conversations, but learners usually aspire to join ongoing conversations already being had among speakers of another language. Long-term language learning, while necessarily friction-filled, is nevertheless beneficial on many fronts.

Interpersonally, using another’s language fosters both cultural and cognitive empathy.

In addition, the cognitive benefits of multilingualism are equally well documented: resistance to dementia, divergent thinking, flexibility in shifting attention, acceptance of multiple perspectives and explanations, and reduced bias in reasoning.

The very attributes companies seek in the AI age — resilience, lifelong learning, analytical and creative thinking, active listening — are all cultivated through language learning.

RETHINKING LANGUAGE EDUCATION IN THE AGE OF AI
So why, in the increasingly multilingual UK and US, are fewer students choosing to learn another language in high school and at university?

The reasons are complex.

Too often, institutions have struggled to demonstrate the relevance of language studies. Yet innovative approaches abound, from integrating language in the contexts of other subjects and linking it to service and volunteering to connecting students with others through virtual exchanges or community partners via project-based language learning, all while developing intercultural skills.

So, again, what’s the value of learning another language when AI can handle tourism phrases, casual conversation, and city navigation?

The answer, in our view, lies not in fleeting encounters but in cultivating enduring capacities: curiosity, empathy, deeper understanding of others, the reshaping of identity, and the promise of lasting cognitive growth.

For educators, the call is clear. Generative AI can take on rote and transactional tasks while excelling at error correction, adapting input, and vocabulary support. That frees classroom time for multiparty, culturally rich, and nuanced conversation.

Teaching approaches grounded in interculturality, embodied communication, play, and relationship building will thrive. Learning this way enables learners to critically evaluate what AI earbuds or chatbots create, to join authentic conversations and to experience the full benefits of long-term language learning. — The Conversation via Reuters Connect

Gabriel Guillén is a Professor of Language Studies at Middlebury College. Thor Sawin is a Professor of Linguistics at Middlebury College. He has received funding for teacher development projects through the State Department Fulbright Specialist and English Language Specialist program, as well as the US Air Force and LCC International University in Lithuania.

Prime Infra appoints new leaders for gas, water businesses

November 19, 2025 | 12:07 am

RAZON-LED Prime Infrastructure Capital, Inc. (Prime Infra) has named Jose Victor Emmanuel “Jocot” A. de Dios as president and chief executive officer (CEO) of its gas unit Prime CoreGen, effective Jan. 1, 2026, as the company expands its footprint in the energy sector.

Mr. De Dios will retire as president and CEO of east zone concessionaire Manila Water Co., Inc. on Dec. 31. He will be succeeded by Roberto Jose “Boj” R. Locsin, currently Prime Infra’s chief administrative officer and chief operating officer for international business.

Before joining Manila Water, Mr. De Dios served as undersecretary of the Department of Energy from 2001 to 2004.

He later chaired the Philippine National Oil Company – Exploration Corp. and led Australian oil exploration company Nido Petroleum Ltd. He was also CEO of GE Philippines, managing businesses in power generation, industrial solutions, and aviation.

At Prime CoreGen, Mr. De Dios will oversee the company’s recently acquired gas assets, following Prime Infra’s P50-billion purchase of stakes in several power plants from Lopez-led First Gen Corp. The portfolio includes a 60% stake in the 1,000-MW Santa Rita Power Plant, 500-MW San Lorenzo Power Plant, 450-MW San Gabriel Power Plant, 97-MW Avion Plant, and the proposed 1,200-MW Santa Maria Power Plant.

Mr. Locsin will handle corporate administration and Manila Water’s global expansion strategy.

Prior to joining the water utility, he served as CEO of Philippine Growth Terminals under global ports operator International Container Terminal Services, Inc., managing operations in Subic and Cagayan de Oro.

“These strategic leadership changes ensure we have the right team in place to drive growth across our water and gas portfolio. Our focus remains on running strong operations and delivering essential infrastructure that supports the country’s development,” said Prime Infra President and CEO Guillaume Lucci. — Sheldeen Joy Talavera

Arts & Culture (11/19/25)

November 19, 2025 | 12:07 am

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SinagLarawan’s top prizes for 2025 photo contest

SINAGLARAWAN has concluded its 2025 photo contest with the Isa sa Isla photo exhibit opening and awarding ceremony. The annual nationwide photo competition had over 480 entries this year by photographers from all over the Philippines. An initiative of JTI Philippines Community Investment, it awarded the grand prize to the evocative image Patron Saint of the Mariners by Kurt Austin Garcia of photo club Raw and Untitled PH. He took home P150,000 and a trophy, as well as P30,000 and a certificate for his photo club. Jessie Eno’s Harvest from the Crown Jewel was named first runner-up, receiving P120,000 and a trophy, with P25,000 and a certificate for their photo club Putowalkers. The Current’s Common Ground by Missy Keith Acbang was second runner-up, with a P100,000 cash prize and trophy, and with the photo club Samahan ng mga Litratista sa Rizal receiving P20,000 and a certificate.

News anchor guidebook released

THE BOOK On Air Na! Pinoy News Anchors Live!, the first comprehensive guidebook on news anchoring in the country, has been released by its publisher, the University of Santo Tomas (UST). Written by Jose Maria G. Carlos, former Assistant Vice-President for News at CNN Philippines, the book traces the evolution of news anchoring in Philippine media, delving into the ethical, editorial, and production challenges that news anchors face today. It also examines the critical success factors behind building an effective and credible career in news broadcasting, drawing from over 40 years of experience in broadcast journalism and insights from 31 past and present news anchors representing leading networks. More information can be found on the UST Publishing House’s pages.

National Poetry Challenge runs this week

A DAILY national poetry challenge is ongoing until Nov. 20, giving writers a chance to win cash prizes and get published. Now on its fourth year, the competition, spearheaded by the poets’ organization Linangan sa Imahen, Retorika at Anyo, book publisher San Anselmo Publications, Inc., and the Quezon City Local Government, is open to all Filipino poets and poetry-lovers. The 2025 edition runs until Nov. 20, two days before the birthday of Jose Corazon de Jesus, or Huseng Batute, king of the balagtasan (poetry joust). To join, visit the Facebook page of San Anselmo Publications, Inc., and look for the daily poetry prompt and guidelines. Poems can be commented on the post. Five shortlisted winners can win P1,000 each. For more information about the National Poetry Challenge, visit https://www.facebook.com/sananselmopress.

Modified Signals concert at The M

AS PART of the experimental sound scene, Jigger Cruz, Seething Mass (Arvin Nogueras + Maia Reyes), and Pow Martinez are converging for a night of original compositions and improvised collisions on Nov. 22 at The Metropolitan Museum of the Philippines (also known as The M), at 30^th St., BGC, Taguig. Through a hybrid mix of synthesizers, drum machines, and analog tools, the artists will “sculpt an atmosphere that slips between clarity and distortion, with interplay between machine-driven precision and human expression.” The night begins at 6 p.m. Ticket details can be found at The Metropolitan Museum of Manila’s site and pages. The concert coincides with Jigger Cruz’s ongoing mid-career exhibit, Hail Holy Eyes at The M.

Filipinas Heritage Library hosts book hunt challenge

THE FILIPINAS Heritage Library is holding a book hunt challenge until next month. It invites visitors to pick a question from their display to become a book detective. Answers to the questions can be hunted down in the library’s featured books section. The hunt is open to anyone at the Ayala Museum Lobby. No admission fee is required. It runs until Dec. 20. The Ayala Museum is at Greenbelt at Makati Ave., Makati.

2 exhibits opening at Silverlens

SILVERLENS MANILA is presenting lumalalim sa kababawan, lumulutang sa kalaliman (deep in the shallows, afloat in the depths), Poklong Anading’s solo exhibition, and Eight Views From The Border, Carina Santos’ solo exhibition. Both open on Nov. 20. Mr. Anading’s show features the intermingling of upcycled materials with new art expressions, combining discoveries from his diving forays with initiatives to restore coral reefs and their habitats, and his own exploration of materials — objects, video, photographs, and drawings. Meanwhile, Ms. Santos’ show features eight of her “pour paintings,” or abstract paintings that conjure up memories of terrains and skies, echoing her background as a graphic designer with a collage-like approach to magazine layout and as a visual communicator that delved into oil painting. Both exhibitions run until Dec. 20 at Silverlens Manila, 2263 Chino Roces Ave., Makati City.

Manila House mounts concert for HearLife-Verein

ON Dec. 1, Manila House Private Members Club will host A Christmas Overture, a fundraising concert in support of HearLife-Verein. Featured artists are singers Evangeline Ng Lao, Lucia Caterina J. Boschi, Tara Bahukhandi, Mavis Jane Tan, Sherine Ann Koa, and pianist Sharlene Morta, a MED-EL Cochlear implant user. Accompanying them are violinist Mary Joyce San Juan, viola player Lauro Valentino Cad, cellist Irvin Roie So, flutist Raymundo O. Sison, and international concert pianist Dr. Abelardo Galang II. Proceeds will benefit HearLife-Verein, a nonprofit organization supporting the hearing and speech rehabilitation of children with cochlear implants, as well as deaf and hard-of-hearing individuals, through professional development offerings to their medical carers and comprehensive support to their families. Tickets are priced at P2,700 for members and P3,000 for guests. For reservations, e-mail reservations@manilahouseinc.com.

Sandbox reveals cast of Spring Awakening

OPENING in February 2026, Spring Awakening will mark The Sandbox Collective’s first production under Sab Jose-Gregorio’s leadership. With book and lyrics by Steven Sater, music by Duncan Sheik, and based on the play by Frank Wedekind, this adaptation will mix Philippine theater veterans and rising stars, 20 years after the play’s first premiere on Broadway. Menchu Lauchengco-Yulo and Ana Abad Santos will share the role of Adult Woman. Audie Gemora will step into the role of Adult Man. Taking the stage alongside them are Nacho Tambunting and Alex Diaz who share the role of Melchior Gabor; Nic Chien and Omar Uddin who alternate as Moritz Stiefel; and Sheena Belarmino who will play Wendla Bergmann. The creative team includes director Andrei Nikolai Pamintuan, musical director Ejay Yatco, and choreographer Nunoy Van Den Burgh. Spring Awakening is set to be the inaugural show of The Black Box at The Proscenium Theater in Rockwell, Makati. The show will run from Feb. 13 until March 22. Tickets are now available on Ticket2Me (tinyurl.com/SandboxSpring2026).

Treasury fully awards dual-tenor T-bonds at mixed yields at auction

November 19, 2025 | 12:06 am

THE PHILIPPINE government fully awarded its dual-tranche Treasury bonds on Tuesday, raising P35 billion as total bids hit P107.6 billion, almost three times the offer, amid concerns that the peso’s extended weakness could fuel inflation.

The Bureau of the Treasury (BTr) sold the programmed P20 billion in reissued 10-year bonds with a remaining maturity of six years and 10 months. Demand reached P70.7 billion, or 3.5 times the allotment.

The bonds carried an average yield of 5.74%, ranging from 5.72% to 5.758%, slightly below 5.798% at the auction on Oct. 21 and about a percentage point below the original 6.75% coupon.

The 10-year yield was 3.6 basis points (bps) higher than the closest benchmark seven-year bond and 2.4 bps above the pre-auction secondary market rate, according to PHP Bloomberg Valuation (BVAL) service data provided by the BTr. The sale increased the outstanding volume of the series to P525.6 billion.

Meanwhile, the government raised the planned P15 billion from 20-year T-bonds, with 18 years and six months remaining to maturity. Total bids reached P36.86 billion, 2.46 times the offer.

The bonds were awarded at an average rate of 6.51%, with accepted yields from 6.4% to 6.6%, up 8.9 bps from the auction on Sept. 23 and 36.5 bps below the original 6.875% coupon. The issuance brought the outstanding stock of the series to P244.6 billion.

A trader said demand was concentrated on the shorter to mid-maturity tenors.

“Lower yield on the seven-year bonds reflects generally lower yields across the board last month,” the trader said. “The 20-year yields were largely unchanged due to weaker interest at the long end.”

Yields finished mixed, with the long end anchored by investor caution amid inflation concerns linked to the peso’s sustained depreciation, Rizal Commercial Banking Corp. Chief Economist Michael Ricafort said in a Viber message.

The Treasury plans to tap the domestic market for P158 billion this month — P88 billion in T-bills and P70 billion in bonds — to fund a budget deficit capped at P1.56 trillion or 5.5% of gross domestic product. — A.M.C. Sy

AirAsia X opens Kuala Lumpur-Istanbul route for travelers from Manila, Cebu

November 19, 2025 | 12:06 am

FILIPINO TRAVELERS can now reach Istanbul with a single stop in Kuala Lumpur following AirAsia X’s (AAX) launch of its new Malaysia-Türkiye service.

The medium-to-long-haul carrier of Capital A said the route provides seamless connectivity for passengers flying from Manila and Cebu.

“The launch of our inaugural service to Istanbul is a bold, yet long awaited step in AirAsia X’s long-haul growth strategy. Türkiye represents a strong and dynamic market with immense potential for both leisure and business travel,” Capital A Executive Chairman Datuk Kamarudin Meranun said in a statement on Tuesday.

“With this new connection, Filipino travelers can now conveniently fly via Kuala Lumpur to explore Istanbul, a dynamic metropolis bridging Europe and Asia,” the Malaysian carrier noted.

AAX will operate the Kuala Lumpur-Istanbul flights four times weekly, every Monday, Wednesday, Friday, and Saturday. The service is part of AirAsia X’s broader expansion in long-haul routes, aimed at strengthening network connectivity between Southeast Asia and Europe.

“This new route not only enhances our network connectivity between Southeast Asia and Eurasia but also reinforces our position as a key player in affordable long-haul travel, as demand for international travel to major cities in Europe continues to grow,” Mr. Meranun said.

AirAsia X Chief Executive Officer Benyamin Ismail said: “With this new direct service, we are not just launching a route; we are opening a vital bridge between Southeast Asia and Europe.”

The launch comes amid Capital A Berhad’s restructuring plan, which focuses on non-aviation businesses while retaining an 18% stake in its aviation operations. AAX continues to manage the group’s medium-to-long-haul flights under this new structure. — Ashley Erika O. Jose

France’s Louvre Museum closes gallery due to structural weakness

November 19, 2025 | 12:06 am

PARIS — France’s Louvre Museum on Monday closed a gallery hosting Greek vases and office spaces as its structures designed in the 1930s are in a dire state, the world’s most visited museum said, less than a month after a daring heist exposed its vulnerabilities.

A new technical report showed weakness in the beams under the second floor of the Sully wing, making it necessary to close the Campana gallery on the first floor and relocate 65 museum staff from the second, the Louvre said in a statement.

The Campana gallery is adjacent to the Apollo gallery, home to the French crown jewels which were targeted in last month’s heist.

“Staff representatives have been warning about the condition of the building for years, because it affects working conditions and visitors,” said Valerie Baud of the CFDT union.

“But we didn’t realize it was this bad,” she said. “It is a major deterioration in the situation.”

After a heist carried out with relative ease, the closure of the gallery is another sign of the museum’s dereliction as highlighted by a state auditor’s report which said the management had neglected security and infrastructure in favor of artwork acquisitions and post-pandemic relaunch projects.

On Oct. 19, two men parked a movers’ lift outside the building, rode up to the second story, smashed a window, cracked open display cases with angle grinders, and drove away on motorbikes with historical jewels worth $102 million.

The jewels have not yet been recovered, though four suspects are being investigated.

Originally built in Paris in the late 12^th century, the Louvre Palace was for centuries the official residence of the kings of France, until Louis XIV — weary of rebellious crowds in Paris — abandoned it for Versailles, after which it became a museum for the royal art collection in 1793. — Reuters

Santolan Town Plaza shines bright for the holidays

November 19, 2025 | 12:05 am

The Christmas season officially began at Santolan Town Plaza on Nov. 17, 2025, as the community came together at The Pavilions for its annual Tree Lighting Ceremony. Now in its fifth year, this well-loved tradition has become a favorite for San Juan residents, bringing families, friends, and neighbors together to celebrate the joy of the holidays.

Rockwell executives — Mike Lopez, Senior Vice-President for Office Commercial Development; Christine Coqueiro, Vice-President for Retail Development; Tracey Castillo, Vice-President and Chief Marketing Officer; and Jesse Tan, Vice-President for Office Commercial Development — were joined by local officials including Mayor Francis Zamora, Vice-Mayor Angelo Agcaoili, along with members of the San Juan City Council and valued tenants who helped make the event possible.

The evening opened with a performance by Serenade Society, filling the air with festive melodies that set the tone for the night.

Mayor Francis Zamora brought words of appreciation and seasonal cheer to the celebration.

Before the countdown, Mayor Zamora shared a few words of gratitude and holiday cheer. Soon after, the much-awaited moment arrived — the lighting of the 25-foot Christmas tree, adorned with 250 ornaments and 45,000 LED lights, all completed in just two nights. As the tree lit up, the plaza sparkled with warmth and color, a truly memorable start to the season at Santolan.

From L-R: Vice-Mayor Angelo Agcaoili; Mike Lopez, Senior Vice-President for Office Commercial Development; and Mayor Francis Zamora

The evening also celebrated Santolan Town Plaza’s milestones and new openings this year, with exciting additions such as as Wahunomi, a café and bar; Mid Kid, serving hearty sandwiches; Café Mary Grace, known for its comforting classics; A1 Family Shabu Shabu, perfect for shared meals; Lulou Wellness, a space for older adults to stay active; Babymama, a trusted stop for new parents; and Browza, offering expert beauty services.

Looking ahead, a range of new wellness concepts is set to open soon, bringing more experience-led offerings to the town. These additions promise even more to discover at the retail hub, offering fresh ways for patrons and visitors alike to connect, dine, and unwind.

From everyone at Santolan Town Plaza, here’s to a joyful season filled with light, love, and holiday cheer — right here in the heart of San Juan.

For more updates and holiday happenings, visit Santolan Town Plaza’s Facebook and Instagram pages.

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The Philippines’ expanding mall experience

November 19, 2025 | 12:05 am

By Jomarc Angelo M. Corpuz, Special Features and Content Writer

Malls are undeniably a deeply embedded part of the Philippine social and cultural fabric. What’s supposed to be a place to shop has been transformed by Filipinos into a place of leisure, entertainment, and bonding. Aside from the usual branded stores, malls in the country can contain meeting halls, churches, and even government satellite offices, making the properties truly complete institutions by themselves.

Despite the dominance of e-commerce and the digital economy, Filipinos are still in love with the mall. According to the Philippine Retailers Association (PRA), the growth of the country’s retail industry is expected to reach up to 15% in revenue this year to around P5.4 trillion, driven by healthy remittances and a growing population.

“They say that people won’t come to malls anymore [because of AI], but Filipinos as a whole are still very social creatures. We’re all social citizens, and we go to malls to truly interact with one another. Although some purchases may shift online, we believe malls will continue to be places where people will still congregate,” PRA President Alice T. Liu was quoted as saying in a BusinessWorld report.

This powerful counter-narrative of malls as a societal place, rather than their often-considered consumer-driven nature, has allowed the retail scene to develop a batch of community-driven establishments in the midst of Metro Manila’s urban ecosystem. This new breed places its focus on experiences and interactions compared to profit and transactions in usual malls.

“Today’s mall-goers gravitate toward spaces that feel purposeful, interactive, and emotionally engaging. They’re no longer just looking for places to shop — they’re looking for places that add value to their day. Dining continues to be a major draw, but it’s the concepts with strong identity, thoughtful design, and a sense of discovery that resonate most. People want to ‘feel’ the brand the moment they step in,” Rockwell Land Vice-President for Retail Development Tin Coqueiro said in an email interview with BusinessWorld.

Colliers, an international real estate services firm, also notes that community-driven malls have the potential to redefine urban spaces in the Philippines by prioritizing community, creativity, and authentic experiences.

“The Philippine urban landscape is experiencing a vibrant transformation, with the rise of new concept community malls injecting fresh energy into the bustling commercial business districts (CBDs). Spaces like The Corner House in San Juan, Comuna PH, and Karrivin Plaza in Makati, and First United Building in Escolta are at the forefront of this evolution, redefining the very essence of the commercial experience,” the report said.

Aside from redefining the way consumers shop, malls are rapidly transitioning to become vibrant hubs for young, trend-conscious creatives. More and more malls serve as dynamic platforms where emerging artists, designers, and entrepreneurs can showcase their work, supported by flexible pop-up spaces and incubators for independent brands and startups.

Recent examples of these initiatives include Rockwell’s occasional exhibitions at the Power Plant Mall and a recent month-long “Art for Everyone” celebration across SM Supermalls.

These new developments show how malls in the Philippines are evolving into spaces that reflect the country’s social nature and creative energy. By supporting local talent and fostering community interaction, they rode the escalator to go beyond commerce and arrive at a new purpose as centers of culture, connection, and everyday life.

“There’s a growing demand for experiential concepts — boutique fitness, wellness clinics, specialty dining, concept stores, and immersive entertainment, that offer something you simply cannot replicate online,” Ms. Coqueiro said.

Retail in 2025

The Philippine retail sector took a huge blow both in revenue and in the number of visitors in 2020, mostly due to the effects brought by the pandemic. However, results from services firm Leechiu Property Consultants, Inc. show that the retail industry is gaining momentum, led by strong growth in the food and beverage (F&B) segment.

Current data shows F&B revenues are now 11% higher than pre-pandemic levels, outperforming other retail categories and reinforcing the sector’s position as a main driver of recovery in retail real estate. Similarly, Leechiu reports that the nation’s three largest mall operators reported a 19% rise in total revenues compared to 2019.

One possible rationale for this growth is the sector’s ability to foster ambiance, social connection, and lifestyle experiences that may be difficult to do online. Additionally, cashless payments, online reservations, loyalty apps, and integrated delivery platforms have become standard features, streamlining operations while improving customer engagement.

“The Filipino consumer has become significantly more sophisticated and globally attuned in recent years. You see this clearly in F&B — Filipinos are more adventurous, more discerning, and more willing to spend for elevated concepts. The arrival of the Michelin Guide has further validated the country’s culinary landscape and raised the bar for both local and international operators, proving that Filipino dining can compete on the world stage,” Ms. Coqueiro said.

As of early 2025, around 105 new malls are being developed nationwide, many featuring larger F&B components in their layouts and tenant plans. These areas are also benefiting from population growth, better infrastructure, and rising consumer spending.

“The continued expansion of malls into provincial areas is driven by the growth of the middle class, strong OFW-driven income, and increasingly sophisticated consumers who want access to the same quality of retail, dining, and lifestyle experiences found in major urban centers. These markets are no longer secondary — they have the spending power and lifestyle aspirations to support well-curated developments,” Ms. Coqueiro said.

While Metro Manila remains the primary hub for flagship dining concepts, developers are increasingly introducing food-focused areas in emerging regions such as Central Luzon, CALABARZON, Visayas, and Davao. According to Ms. Coqueiro, Rockwell studies how people live, socialize, and move within a city to understand whether the market is ready for a Rockwell development and what kind of experience would feel authentic to them.

“In Angeles, Pampanga, for example, we saw a vibrant community with a strong appreciation for good food, elevated environments, and quality retail. This insight guided how we designed Rockwell Center Nepo and shaped the retail concepts we’re introducing to ensure that what we build enhances and complements the Kapampangans’ lifestyle,” Ms. Coqueiro added.

All these indicators point to a retail landscape that is not just recovering, but actively expanding, signaling renewed consumer confidence and a strong return to physical shopping and dining experiences.

“But Philippine consumers are coming out. The malls are full again. The average purchasing amount may be lower, but people are coming out. So, we see a retail industry that will continue to grow, especially over the next two years,” PRA Chairman Roberto S. Claudio, Sr. said in a report.

Another strong statistic that shows how retail is doing concerns the occupancy levels of malls in the country. As with every other aspect of retail, vacancy rates plummeted during the pandemic, dipping to as low as 9.7% in the first quarter of 2020. However, recent numbers by Colliers show that the vacancy rate of malls in Metro Manila currently stands at 11.4%.

Despite this telling result, the firm still forecasts that mall vacancy in Metro Manila will decline to 9.5% by the third quarter of 2026. By the first quarter of 2027, the vacancy rate is projected to further drop to 8.2%, improving on the 9.3% level recorded in the third quarter of 2019.

“The Philippine retail scene continues to innovate, effectively exciting mallgoers and foreign brands. With retail spaces becoming more experiential, more Filipinos now go to brick-and-mortar malls and are enticed to stay longer and spend more,” Colliers Philippines Director and Head of Research Joey Roi H. Bondoc previously said.

Aside from this, Colliers notes that easing inflation, policy rate cuts, and the fast-approaching holiday season should support faster consumer spending in malls and other areas of the economy.

“In our view, the lower-than-expected inflation, holiday-induced spending, slightly improving consumer outlook, and the projected rise in remittances should support retail demand growth,” Colliers said.

Overall, the Philippine retail sector is entering a new phase of steady growth, driven by resilient consumer activity, expanding F&B developments, and a renewed enthusiasm for in-person experiences.

Smart rolls out robotic arms in cell towers for real-time network optimization

November 19, 2025 | 12:05 am

SMART COMMUNICATIONS, INC., the wireless unit of PLDT Inc., has deployed remote-controlled robotic arms in its cell site towers to enable real-time network optimization and improve coverage in underserved areas.

“By leading the adoption of advanced technologies like Optical Compass and Robot Arm (OCRA), we are shaping a future where every Filipino has access to reliable, high-quality connectivity, wherever they are,” PLDT Chief Operating Officer and Network Head Menardo G. Jimenez said in a media release on Tuesday.

The system allows operators to move and control antennas remotely, enabling real-time adjustments.

Through its collaboration with OCRA manufacturer HUMAX Networks and system integrator Telkha, PLDT and Smart launched a proof-of-concept trial to test how the technology can boost coverage in target areas while lowering costs and enhancing network performance.

For the pilot, OCRA was installed on existing cell sites targeting two locations, with initial results highlighting the need for smarter, more flexible antenna solutions.

“Enabling remote antenna adjustments also reduces the need for physical site visits and helps telcos avoid unnecessary base station installations, saving time and expense. These efficiencies allow Smart to reinvest in expanding and enhancing its network,” PLDT and Smart Head of Network Quality Radames Vittorio B. Zalameda said.

At the Philippine Stock Exchange on Tuesday, PLDT shares rose P16, or 1.25%, closing at P1,294 apiece. — Ashley Erika O. Jose