PHILIPPINE COMPANIES should boost investments in mobile app security as cybercriminals increasingly exploit artificial intelligence (AI) tools to bypass traditional defenses, according to cybersecurity firm Appdome, Inc.
“Recent studies have shown that the Philippines is pretty much the biggest market in Southeast Asia for fraudulent activity,” Jan Sysmans, Appdome mobile app security evangelist, said in a video interview.
“In the past, security and information technology (IT) budgets focused on protecting the perimeter. In a mobile-first world, the focus has to shift to protecting the mobile business,” he added.
Filipino consumers downloaded 3.39 billion mobile apps in 2024, ranking the Philippines among the top 10 globally in app downloads and usage hours, according to a 2025 report by analytics firm SensorTower, Inc.
The surge in mobile banking, e-commerce and digital entertainment has also widened the attack surface for cybercriminals.
Advances in AI have rendered traditional biometric authentication such as facial recognition and fingerprints less secure, Mr. Sysmans said, citing remarks from OpenAI Chief Executive Officer Sam Altman.
AI-driven deepfakes can now generate hyper-realistic data, effectively defeating identity-based security, he pointed out.
Cyber-incidents in the Philippines have accelerated alongside digital adoption. Data breaches jumped 49% in the third quarter, compromising more than 52 million credentials in just three months, based on a report by Viettel Cyber Security.
“What we’re seeing already is criminal organizations hacking into AI agents, presenting themselves as customer support agents,” Mr. Sysmans said, noting that such tactics exploit user trust and the growing sophistication of conversational AI.
He urged Philippine companies to prioritize securing mobile application programming interfaces (API) and user identity data — areas often neglected in traditional cybersecurity frameworks.
“If the mobile device or the APIs that the mobile app uses to connect to the backend are unprotected, then a criminal organization can leverage those connections to access resources or websites and try to inflict damage,” he said.
Despite rapid growth in mobile use, cybersecurity spending across Southeast Asia remains uneven. Industry analysts say organizations still allocate the bulk of IT budgets to legacy systems and network firewalls rather than app-layer protections.
The shift to mobile-first business models means companies can no longer afford to treat app security as an afterthought because the threat has moved to where the users are — on mobile.
PHILIPPINE BANKS expect to keep their lending standards largely unchanged this quarter as they expect steady credit demand from both businesses and households, a survey by the Bangko Sentral ng Pilipinas (BSP) showed.
According to the BSP’s latest Senior Bank Loans Officers’ Survey (SLOS) published on Monday, 86% of banks expect to keep their standards for business loans this quarter, higher than the 78.9% seen in the July-September period, based on the modal approach.
“The rest of the respondents are split between easing (3.5%) and tightening (10.5%),” the BSP added.
For households, 87.5% of banks also expect to keep the same lending standards, up from 77.5% last quarter.
“Around 10% expect to tighten standards, while 2.5% may ease them.”
Lending standards are used by banks when approving loans. These include interest rates, loan size, collateral, loan conditions, and repayment terms.
Through the SLOS, the BSP analyzes the quarter-on-quarter changes in banks’ loan officers’ perceptions of their overall credit standards and the factors affecting loan supply and demand. It uses both the modal approach, which requires a categorical response, and the diffusion index (DI) method, which reflects the net difference between the respondents’ answers.
The BSP surveyed 58 banks in the country for the latest SLOS from Sept. 11 to Oct. 21, translating to a 96.7% response rate.
Meanwhile, under the DI method, the survey showed that a net 7% and 7.5% of banks said they expect to tighten rather than loosen standards for business loans and household credit, respectively, in the period.
“This indicates that any future change in credit standards is more likely to reflect tightening than easing,” the BSP said.
LOAN DEMAND This comes as 73.7% of banks surveyed said they see steady demand for business loans this quarter, based on the modal approach, slightly lower than the 75.4% in the third quarter.
“Meanwhile, 1.8% of banks anticipate a decline in loan demand, compared to 5.3% in the previous quarter. About 24.6% of banks expect loan demand to increase, up from 19.3% in the third quarter,” the central bank said.
For household loans, 65% of the respondent banks said they see stable demand for credit, lower than the 75% recorded in the third quarter.
Meanwhile, some 25% said they anticipate higher demand, up from 17.5% previously, and 10% expect a decline, up from 7.5% last quarter.
Bank lending increased by 11.2% year on year to P13.62 trillion at end-August, slower than the 11.8% growth in July, latest BSP data showed. — K.K. Chan
NEGROS OCCIDENTAL — LANDBANK continues to make agricultural financing more accessible with the integration of online applications under the AGRISENSO Plus Lending Program, allowing farmers to conveniently apply for loans anytime and anywhere, underscoring the Bank’s commitment to simplify access to affordable credit.
LANDBANK President and CEO Lynette V. Ortiz and Department of Agriculture (DA) Secretary Francisco P. Tiu Laurel, Jr. led the launch on Oct. 30, 2025 at the Cadiz City Arena, attended by more than 1,700 farmers from Cadiz and neighboring towns.
They were joined by Philippine Crop Insurance Corporation (PCIC) President Atty. Jovy C. Bernabe, Agricultural Credit Policy Council (ACPC) Deputy Executive Director Ma. Cristina G. Lopez, Cadiz City Mayor Salvador G. Escalante, Jr. and Vice-Mayor John Vincent I. Escalante, EB Magalona Mayor Matthew Louis Malacon, Sagay City Mayor Leo Rafael M. Cueva, Silay City Mayor Joedith C. Gallego, and Valladolid Mayor Ricardo P. Presbitero, Jr.
“Sa pamamagitan ng pakikipagtulungan sa LANDBANK at iba pa nating katuwang, titiyakin natin na ang benepisyo ng AGRISENSO Plus ay makarating sa lahat ng magsasaka at mangingisda, saan mang sulok ng bansa,” said DA Sec. Laurel.
In 2024, Mayor Escalante shared his vision of transforming Cadiz and its neighboring towns into a primary agricultural hub in Negros Occidental, with the AGRISENSO Plus Program expected to play a vital role in realizing this vision by improving farmers’ access to affordable financing and agribusiness support.
“LANDBANK has seen how our farmers continue to face so many challenges — from the recent eruption of Mt. Kanlaon, to the impact of climate change, unstable farmgate prices, and market access. This is why we designed AGRISENSO Plus to provide holistic and practical solutions to the challenges faced by our farmers and fisherfolk,” LANDBANK President and CEO Ortiz emphasized.
Inclusive and holistic agri financing
The Program, developed in partnership with the DA, ACPC, Department of Agrarian Reform (DAR), National Irrigation Administration (NIA), and private sector partners, is a value chain-based financing initiative that provides holistic support to agricultural stakeholders, with simplified documentary requirements, free life and credit life insurance, and expanded access to technical and market support to help boost productivity and profitability.
It offers a lowered fixed interest rate of only 3.0% per annum — down from 4.0% — for small farmers, fishers, and agrarian reform beneficiaries (ARBs), with competitive rates for their associations, cooperatives, micro, small, and medium enterprises (MSMEs), large enterprises, anchor firms, and agriculture graduates.
Complementing the Lending Program is the LANDBANK ASCEND (Agri-Fishery Support through Capability Enhancement for Nationwide Development), a capacity-building initiative that equips farmers and fishers with training in digital financial literacy, sustainable agriculture, and enterprise development.
As of August 2025, LANDBANK has released P1.78 billion in loans under the AGRISENSO Plus Lending Program, supporting over 12,000 borrowers nationwide. The Negros Occidental rollout follows successful launches in Pampanga, Cagayan, Isabela, Batanes, Bukidnon, Iloilo, and Palawan.
Expanding digital convenience for farmers and MSMEs
Further advancing its digitalization efforts, LANDBANK successfully piloted the first provincial rollout of its Person-to-Merchant (P2M) QR payment facility in Negros Occidental.
The P2M facility delivers a two-fold benefit for both consumers and LANDBANK-accredited merchants. It is an interoperable payment channel that allows consumers to avail of free transfer fees for purchases worth P500 and below when paying via QRPh-P2M using the LANDBANK Mobile Banking App (MBA), other banking apps, or digital wallets. Meanwhile, participating merchants benefit from waived merchant fees for every transaction.
This digital innovation further empowers farmers and MSMEs by offering a faster, more convenient, and secure way to receive payments, while reducing their reliance on cash transactions and promoting wider digital adoption across agricultural communities. Business owners can enroll their existing LANDBANK accounts, with P2M activation completed within just 24 to 48 hours.
Enhanced reach in Negros Occidental with new one-stop hub
LANDBANK also strengthened its presence in Southern Negros with the opening of the Negros Occidental South Corporate Center in Kabankalan City, highlighting the Bank’s commitment to accessible and inclusive financial services.
The new facility will serve as a one-stop hub for farmers, fishers, cooperatives, micro, small and medium enterprises (MSMEs), local government units (LGUs), and private depositors from the cities of Kabankalan, Sipalay, and Himamaylan, and the municipalities of Ilog, Cauayan, Candoni, Hinoba-an, Hinigaran, and Binalbagan.
LANDBANK President and CEO Ortiz and Negros Occidental 6th District Rep. Mercedes K. Alvarez led the inauguration ceremony on Oct. 29, 2025, joined by Kabankalan City Mayor Benjie M. Miranda and Vice-Mayor Divina Gracia S. Miranda, Candoni Mayor Ray R. Ruiz, Sipalay City Mayor Maria Gina M. Lizares, other local partners, and LANDBANK senior officials.
“Today’s inauguration of the LANDBANK Negros Occidental South Corporate Center reaffirms our deep commitment to stand with Kabankalan and the entire Negros Occidental. This new facility strengthens our presence in Southern Negros — so that together, we can continue providing every Negrense with better, more efficient, and more inclusive financial services,” said LANDBANK President and CEO Ortiz.
LANDBANK President and CEO Lynette V. Ortiz (middle) and Negros Occidental 6th District Rep. Mercedes K. Alvarez (3rd from left) lead the ribbon-cutting ceremony for the inauguration of the LANDBANK Negros Occidental South Corporate Center on Oct. 29, 2025 in Kabankalan City. They are joined by Kabankalan City Mayor Benjie M. Miranda (rightmost), Vice-Mayor Divina Gracia S. Miranda (2nd from right), Sipalay City Mayor Maria Gina M. Lizares (3rd from right), Candoni Mayor Ray R. Ruiz (2nd from left), and LANDBANK First Vice-President Vivian M. Cañonero (leftmost).
Located along Justice JY Perez Highway, the center houses the upgraded LANDBANK Kabankalan Branch — the first “phygital” branch in Negros Occidental, with modern facilities and ample space that offers a comfortable environment for clients and staff.
It combines physical and digital banking, featuring LEA (LANDBANK Easy Access) for paperless queuing, the LANDBANK Digital Online Banking System (DOBS) for faster account opening, four ATMs, a cash deposit machine, and meeting pods for client consultations.
The second floor hosts the LANDBANK Negros Occidental South Lending Center, offering easier access to loans and credit assistance, eliminating the need to travel to Bacolod City. Other LANDBANK units such as the Loan Operations Field Unit (LOFU), Field Support Services Center (FSSC), and Field Legal Services (FLS) are also housed in the building to provide integrated services.
LANDBANK currently operates 16 branches, two lending centers, 76 ATMs, four CDMs, and 51 LANDBANKasama partners in Negros Occidental, plus 80 ATMs in 7-Eleven stores where customers can withdraw cash free of charge.
ABOUT LANDBANK
LANDBANK is the largest development financial institution in the country promoting financial inclusion, digital transformation, and sustainable national development. Present in all 82 provinces in the county, the Bank is committed to provide accessible and responsive financial solutions to empower Filipinos from countryside to countrywide.
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YUCHENGCO-LED Bugallon Green Energy Corp. has secured a P826-million loan from Rizal Commercial Banking Corp. (RCBC) to fund the construction of its 25-megawatt (MW) solar power project in Bugallon, Pangasinan.
In a statement on Monday, Bugallon said it had signed an omnibus loan and security arrangement with RCBC to support the development of the Bugallon Solar Power Project, which is slated for completion within the year.
Once operational, the facility is expected to generate about 36 gigawatt-hours (GWh) of electricity annually — enough to supply power to more than 15,000 households — and offset about 25,000 metric tons of carbon emissions each year.
Bugallon is a unit of Rizal Green Energy Corp., a joint venture between Japan’s Taisei Corp. and PetroGreen Energy Corp., which is part of the Yuchengco Group of Companies.
“This financing milestone reflects our unwavering commitment to increase the country’s power supply from indigenous energy sources,” PetroGreen President and Chief Executive Officer Francisco G. Delfin, Jr. said in the statement.
RCBC Executive Vice-President and Head of Institutional Banking Group Elizabeth E. Coronel said the loan was undertaken under the bank’s sustainable finance framework, reinforcing its role in promoting climate-resilient and environmentally responsible investments.
The Bugallon Solar Power Project forms part of Rizal Green Energy’s pipeline of four utility-scale, ground-mounted solar projects with a combined capacity of 111.58 MW. — Sheldeen Joy Talavera
EAST WEST Banking Corp.’s (EastWest Bank) net income climbed by 14% year on year to P6.6 billion in the first nine months on higher revenues from its core businesses.
This translated to a return on equity of 11.6%, the bank said in a disclosure to the stock exchange on Monday.
Its financial statement was unavailable as of press time.
“Our core consumer banking business is thriving, aligning perfectly with the evolving needs of our customers. Our strategic funding initiatives are likewise effectively supporting our growth plans and fortifying our funding structure. These critical components have significantly contributed to our steady revenue generation. At the same time, we continue to manage risks actively and ensure that provisions are adequate. Combined with our operational efficiencies, these have resulted in robust and sustainable profitability,” EastWest Bank Chief Executive Officer Jerry G. Ngo said.
The bank’s revenues rose by 16% year on year to P37.3 billion in the nine-month period.
This was mainly driven by an 18% growth in net interest income to P29.7 billion, which was backed by the 17% growth of its consumer lending business.
It added that consumer credit now makes up 85% of its loan portfolio.
EastWest Bank’s fee income also jumped by 27% to P5.3 billion.
Its double-digit revenue growth more than offset the 7% increase in its operating expenses to P19.2 billion in the period, which it said went to “investments in people and business expansion.”
As a result, the bank’s cost-to-income ratio improved by 412 basis points to 51.4%, “supported by the faster growth of revenues, productivity gains, and digital efficiencies.”
On the funding side, total deposits rose by 12% to P415.8 billion at end-September, 81% of which are current account, savings account or CASA deposits.
EastWest Bank’s priority banking business also grew as its assets under management breached the P100-billion mark at end-September, it added.
These supported its asset base, which grew by 11% to P552.9 billion.
“Meanwhile, capital ratios remain strong and supportive of future growth, with capital adequacy ratio at 13.6% and common equity Tier 1 ratio at 12.7%, well above regulatory standards,” the bank said.
EastWest Bank’s shares went down by six centavos or 0.52% to close at P11.44 apiece on Monday. — A.M.C. Sy
FULL HOUSE at the show of Alex Calleja and The Comedy Crew at 19 East in February 2024. — FACEBOOK.COM/19EAST
ONE VENUE immediately comes to mind for those recalling enjoying live music in the southern part of Metro Manila. Standing tall after over two decades of welcoming artists, bands, and music lovers with open arms (and a killer sound system!) is 19 East, which is turning 22 this month.
“We’re passionate about the art of sound,” owner and musician Wowee Posadas told BusinessWorld in a Facebook message. “We constantly find ways to improve our already impressive audio quality.”
This explains 19 East’s stacked lineup every month, showing how the guest performers themselves can never really stay away from the magic of this venue.
October alone saw a number of familiar names grace the stage — MYMP, Side A, Apo Hiking Society, Freestyle, 6cyclemind, Imago, Moonstar88, and Gracenote — the majority of whom will return in November as well. Unbeknownst to many, 19 East also hosts comedy gigs, with Alex Calleja and The Comedy Crew coming over this month.
Located at Km 19, East Service Road, Muntinlupa, the physical space itself is clearly thoughtfully planned. From sound absorbers in the ceiling to acoustic panels on the walls to the impeccable lighting that elevates the atmosphere of every show, it’s easy to see how this venue has stood the test of time.
We asked Mr. Posadas how 19 East has kept itself afloat over the years — notwithstanding the universal challenge that was the pandemic.
Surprisingly, despite the venue’s impressive audio mixer and the well-maintained speaker system, his response focused more on the people behind the equipment rather than the equipment itself.
“It’s the top-of-the-line gear as well as the know-how to use it. Great tools are nothing without the proper skill set,” he said. “Huge thanks to our staff who’ve worked very hard, all the brilliant artists who’ve shared their talent, and, most of all, our beloved customers who’ve patronized 19 East throughout the years. We couldn’t have reached these milestones without them.”
He added that, though bands play in other bars, many customers prefer catching them at 19 East for the “unmatched aural experience.”
“I was a keyboard player for various bands for more than 30 years, and I had the pleasure of performing in a number of bars. In designing 19 East, I learned from those venues’ strengths and weaknesses,” he said.
CHANGES Since the venue opened in 2003, there have been a lot of changes in the Philippines’ live music culture, especially after the COVID-19 pandemic. Mr. Posadas discussed some of them.
“We’re exerting effort to discover and promote new acts that will cater to a much younger crowd,” he said, referring to the shifting age demographics of music lovers — many of whom are better equipped to spread the word about live gigs online.
“Another is operating hours,” he added.
Thanks to the change in sleeping habits brought about by the pandemic, he observed that guests aren’t willing to stay up too late anymore.
“When we started, shows [would] usually last until 2 a.m. Nowadays, customers tend to go home after midnight,” he said.
This has also led to the opening of 19 Inn, a quaint space by the entrance of the bar’s front lawn. A boutique hotel with three stories and 10 rooms, its location just a few steps from the music venue, allows patrons who come from faraway places to stay the night.
Prices range from P1,300 to P1,800 a night, depending on the room size.
TRY AGAIN Not all of 19 East’s ventures outside of the music hall have been successful, though. Mr. Posadas said that they tried offering curbside pick-up service during the pandemic, when the quarantines and lockdowns were in place, but it never really took off.
Operations were temporarily stopped, as with all live music bars, and employees had to work elsewhere while 19 East was closed.
“Actually, we survived the pandemic only because we own the lot on which 19 East sits. It would have been impossible to still be here if such was not the case,” he said.
Thankfully, once things eased again, the staff returned, and so did the market — lasting even beyond the “revenge spending” phase.
Just a cursory look at their Facebook page, which boasts nearly a million followers, will reveal how the music hall reaches full capacity at least every few weeks. Whenever this happens, 19 East welcomes guests to stay in the al fresco dining area, where a large video wall is installed so that they can still watch the show going on inside.
Back in 2023, they even expanded the hall to accommodate the crowds when popular acts come on.
‘I’M STILL STANDING’ We talk about the demand for live shows even with the advent of online platforms and digital streaming. “It is definitely there,” he noted.
“We often have sold-out nights. As long as new exciting bands continue to emerge, music venues will thrive,” he said.
“In my long experience in the music industry, I’ve never witnessed a shortage of musical talent in this country. Just browse YouTube and you’ll know what I mean.”
A musician himself when he’s not being a lawyer, Mr. Posadas heaped praise on the younger generation: “The dedication, creativity, and emotion poured by young artists into their craft are just remarkable.”
There’s a 1983 song sung by Elton John called “I’m Still Standing,” which Mr. Posadas cited as an encapsulation of 19 East’s journey over the years. Here, Elton John sings, “Don’t you know that I’m still standin’ better than I ever did? /
Lookin’ like a true survivor, feelin’ like a little kid.”
Like the song says, 19 East has been a true survivor among live music bars, standing tall and proud in the south of Metro Manila, with artists and bands coming back regularly.
“We had our share of struggles. We’re just grateful to be around after 22 years,” said Mr. Posadas who noted: “We’ll celebrate our 22nd anniversary this Nov. 27.” — Brontë H. Lacsamana
19 East is at Km 19, East Service Road, Muntinlupa. Its gigs for the month can be found on its Facebook page, with admission fee details varying per show.
THE most important question that companies face in deploying Artificial Intelligence (AI) is not technological but organizational: Should they use AI to increase the power of high-up managers or liberate frontline workers? I suspect that the bulk of them will give the wrong answer to the question — and that we will be dealing with the consequences of their mistakes for decades to come, not just economically, as companies lose their creative flair, but also politically, as professional elites join the ranks of the angry and alienated.
Companies will evolve in radically different directions according to the answer that they give to this question. Choose the first answer and they will evolve into “panopticons.” Managers will use AI’s growing powers to divide jobs into identical units, monitor and measure workers in terms of their ability to fulfill their assigned roles, and get rid of surplus workers. The faster you work, the more you will be rewarded.
This type of organization is hardly new. The father of utilitarianism, Jeremy Bentham, coined the term “panopticon” in 1791 to describe his ideal prison in which a few managers could monitor everything that their inmates did. The father of scientific management, Frederick Taylor, taught employers the importance of standardization and measurement of workflows in the early 20th century. But today’s digital Taylorism takes all this to a new level. It ensures that the managerial eye is all-seeing, enabling employers to monitor not just your every movement but your fleeting emotions. And it hands enormous power to algorithms that are untouched by human emotion.
Choose the second, however, and you will evolve into a human-centric organization. Put the power of AI into the workers’ hands and they will be able to use it to do remarkable things: improve the quality of their jobs by automating routine tasks (organizing their diaries or booking travel) but also improve the quality of their organizations by collaborating with other employees. AI makes it easier for teams to organize themselves by setting collective goals and breaking them down into individual tasks. It also helps senior managers to devolve tasks to frontline workers without losing the power of control and coordination.
The first approach is superficially much more appealing than the second because it provides companies with lots of low-hanging fruit. You can get rid of surplus employees: This week, Amazon.com, Inc., one of the most enthusiastic practitioners of digital Taylorism, announced that it is cutting its corporate workforce by 14,000. You can satisfy your worry that too many workers are skiving by monitoring their comings and goings. You can reward “performance” rather than “presence” by measuring workers’ precise contribution.
Yet these low-hanging fruit will eventually prove to be rotten. Studies of human motivation are remarkably consistent about what people want from organizations: They want to feel that they belong to a community, that their contribution is valued, that they can grow in their jobs, that they have a chance to exercise their creative faculties and that they are not constantly being micro-managed by higher-ups. Most people are willing to sacrifice a certain amount of pay if they can get these things.
There is evidence that these soft values are becoming more important in an age of digital atomization. A survey of Glassdoor LLC entries by Phanish Puranam, of INSEAD Business School, found that the most important thing that employees want is a sense of community (“collegiality” and “relatedness” in the surveys). The World Values Survey found that people of all ages are putting increasing value on autonomy in decision-making (i.e., not being told what to do by distant managers).
But can companies resist plucking low-hanging fruit even if they are rotten? Management gurus predicted that the digital age would lead to the triumph of a new age of entrepreneurial capitalism — challengers would shake up incumbents and incumbents would respond by delayering. In the new edition of Humanocracy, Gary Hamel and Michele Zanini demonstrate that we got the opposite — the triumph of top-down managerialism. The number of people classified as “managers” or “administrators” doubled from 1983 to 2024 even as the rest of the workforce increased by 40%. The proportion of US employees working for companies with more than 5,000 employees increased from 28.8% in 1987 to 36.4% in 2021. The result of growing bureaucratization: 51% of US employees claim that they are not engaged with their work while 16% claim that they are “actively disengaged.”
So far, this pattern is being repeated with AI. The companies that have made the running — platform capitalists such as Uber Technologies, Inc. and digital giants such as Amazon — have invariably used the technology to create panopticons. The platform companies promised that they would give workers more control over their own lives. In reality, workers complain that their every move is monitored by algorithms — and that they lack even the compensation of being able to complain to co-workers.
Amazon has been dogged by accusations of insensitive management despite paying higher than average wages. The pace of activity can be relentless: A 2020 study found that Amazon warehouse workers suffered from almost twice the rate of serious injuries as the industry average. But even more dispiriting is the monitoring of every tiny detail of your daily routine, including the amount of time that you spend in the bathroom.
Similar complaints follow wherever the algorithms are unleashed. Truck drivers complain that their employers use AI-enabled tracking tools to spy on them. Fast-food employees complain that their schedules are being determined by algorithms, which measure demand, rather than by conventions such as regular hours. A 2024 review of 172 academic articles on “algorithm-driven management” found that what employees found most galling is that algorithms know almost everything about them, but they know nothing about the algorithms.
Perhaps there is a limit to how much autonomy you can enjoy in providing taxi services or stacking boxes. But management by algorithm is being introduced into professional services that have traditionally placed a premium on self-management and self-improvement.
The same pattern is being repeated. Companies are exerting ever more minute control over employees: They can measure your keystrokes per minute, figure out how “collegial” you are in Zoom calls, and bundle dozens of different performance measurements to determine your pay. Companies are also extending automation into intimate human judgments. JPMorgan Chase & Co., which is the pacemaker in using AI in the banking sector with an AI budget of $2 billion a year, allows managers to use AI to write performance reviews.
There are some sparks of resistance. Young workers can vote with their feet by choosing companies that use AI to empower them rather than turn them into cogs in a machine. Some companies are recognizing the dangers of, say, automating entry-level jobs that provide you with your future stars. Yet the race to adopt AI is so fast-paced and the FOMO so all-consuming that companies, in their obsession with hitting the metrics, are forgetting about subtle things such as creativity. And AI-driven management is self-reinforcing: The more the smart machines take over, the more skills atrophy and self-direction withers, creating yet more demand for smart machines.
The walls of the Panopticon are closing all around us — and the managerial eye is becoming at once ever more penetrating and ever less discerning.
MANILA ELECTRIC CO. (Meralco) has upgraded its substation in Laguna to improve the reliability and stability of electricity supply in parts of the province and neighboring Batangas.
The project includes the installation of a third 400-megavolt ampere transformer, along with 115-kilovolt (kV) and 230-kV gas circuit breakers and protection and control panels, the utility said in a statement on Monday.
Meralco said the upgrade would support rising power demand from major establishments such as SM City Calamba, SM City Sto. Tomas, Mariwasa-Siam Ceramics, Inc., Calamba Doctor’s Hospital, Philippine Manufacturing Co. of MURATA, Inc., STMicroelectronics, Inc. and Samsung Electro-Mechanics Philippines Corp., as well as surrounding communities.
“As part of its commitment to delivering high-quality, stable and reliable service, Meralco continues to invest heavily in upgrading and modernizing its electricity distribution system,” the company said.
Meralco spent P281 million in the third quarter for capacity addition and reliability improvement projects across Metro Manila, Laguna, Batangas and Rizal.
Meralco’s majority owner, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT, Inc. Hastings Holdings, Inc., a unit of the PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Sheldeen Joy Talavera
THE ONE-MONTH securities offered by the Bangko Sentral ng Pilipinas (BSP) fetched a lower average rate on Monday amid strong demand despite the larger offer volume.
The 28-day BSP bills attracted bids amounting to P111 billion on Monday, higher than the P100 billion placed on the auction block and also well above the P49.635 billion in tenders attracted for the tenor for a P35-billion offer on Oct. 24. The BSP made a full P100-billion award.
The central bank did not offer two-month bills this week for the first time since June 2023, which was when it began selling the tenor at its weekly auctions of short-term securities.
At the Oct. 24 auction, the total offer volume including the 56-day papers was at P85 billion, which drew P125.798 billion in bids.
On Monday, accepted rates for the one-month securities were from 4.945% to 5.1%, narrower than the 4.9% to 5.16% margin seen previously. This caused the weighted average accepted rate of the 28-day bills to decline by 4.7 basis points to 5.0714% from 5.1184%.
The central bank uses the BSP securities and its term deposit facility to mop up excess liquidity in the financial system and to better guide short-term market rates towards its policy rate.
The BSP bills also contribute to improved price discovery for debt instruments while supporting monetary policy transmission, the regulator has said.
The central bank started auctioning off short-term securities weekly in 2020, initially offering only a 28-day tenor and adding the 56-day bill in 2023.
Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort noted that the total volume of the 28-day papers offered on Monday was more than doubled from the previous week to make up for the non-offering of the 56-day tenor.
“Since there is a higher yield over the key BSP overnight rate of 4.75%, more pesos would be invested elsewhere and some of the funds freed up would find their way in other local fixed income or money market instruments and also through more loans by banks,” he said.
In August, BSP Governor Eli M. Remolona, Jr. said they are gradually shifting away from the issuance of short-term papers to manage liquidity as they want to boost activity in the money market.
Data from the central bank showed that around 50% of its market operations are done through its short-term securities. — Katherine K. Chan
LUCCA, ITALY — Fans can expect more action and plenty of emotion in the highly anticipated fifth and final season of Stranger Things, which will wrap up the Netflix phenomenon after nine years, its creators said on Friday.
Speaking at the first global promotional event for season five in the Italian city of Lucca, brothers Matt and Ross Duffer said they were anxious and excited for fans to see the final installment after working on it for three years.
“Bringing it out in the world is nerve-wracking, but we’re ready to finally show it,” Ross Duffer told Reuters.
“The scale of it is bigger… it’s more action and more special effects, but it’s also by far the most emotional season because it’s the end of the story for all of these characters,” Matt Duffer added.
SHOW BECAME MASSIVE HIT IN 2016 The Duffer brothers were attending the Lucca Comics & Games convention, taking part in a press conference as well as fan Q&A. The first-ever Stranger Things episode was also scheduled to screen on the convention’s movie section program.
Set in the 1980s in the fictional Indiana town of Hawkins, Stranger Things follows a group of young friends battling supernatural horrors from the Upside Down alternate dimension.
The Emmy Award-winning show became a massive hit upon its release in 2016, gaining a loyal following around the world and spawning video games, merchandise, cosplay, immersive experiences and a Tony Award-winning play.
Starring Winona Ryder and David Harbour, the show catapulted its young cast, led by Millie Bobby Brown who plays a girl called Eleven with psychokinetic powers, into the global spotlight.
“You work on something for a decade and we become a family and saying goodbye to it, it’s full of emotions, it’s not just sad it’s just overwhelming in general,” actor Gaten Matarazzo, who plays Dustin Henderson, said.
“That last day (on set) was certainly a big one. Certainly lots of tears and giggles and hugs.”
Season five will be split into three parts, with the first four episodes airing on Nov. 26, the next three on Dec. 25 and the finale on Dec. 31. The last episode will also screen in select cinemas in the United States and Canada. — Reuters
The existing world order has been with us for so long that we have grown indifferent, even callous and unappreciative of its beauty and effectiveness. That apathy began to change when America elected Donald J. Trump as President.
During his first term in office, from 2017 to 2021, President Trump was aptly labeled “The Great Disruptor.” His policies and directives were so extreme that observers often wondered whether he was posturing, bluffing, or merely joking.
Barely a year into his second term in 2025, we realized the joke was on us all along. The radical policies he is now dictating are even more aggressive and disruptive — particularly regarding tariffs and international alliances.
Wittingly or unwittingly, President Trump has undermined, if not dismantled, the existing world order. Whether it can still be salvaged after his time in office is anyone’s guess. But for sure, like Humpty Dumpty, it will never be the same again.
What could have motivated President Trump to implement such sweeping changes, even at the risk of alienating US’s long-time allies? Is this the dawn of a Lone Ranger-style leadership?
To answer these questions, we must examine the historical underpinnings of the world order that emerged after World War II — and the latent sentiments of the American people who elevated a figure like Trump to the highest office in the land.
Closely linked to this is the philosophy of isolationism, deeply rooted in the American psyche, which appear to be influencing much of President Trump’s agenda.
Historically, America’s inward-looking tendencies stemmed from the circumstances that attended its birth as a new nation. The American Revolution was justified as a struggle to free the colonies from British control and interference.
Upon achieving independence, Americans became increasingly focused on their own self-interests and cautious about entangling themselves in foreign affairs. Hence, their initial reluctance to join both World Wars, until fate intervened.
In World War I, it was Germany’s unrestricted submarine warfare against commercial shipping that forced the US’s hand. In WWII, it was Japan’s attack on Pearl Harbor.
The end of WWII marked a dramatic shift in the global landscape. The US supplanted Great Britain as the undisputed leader of the Free World, while the Soviet Union emerged as the dominant force of the Communist Bloc.
What followed was a prolonged struggle for global supremacy between these two superpowers — what came to be known as the Cold War. Over time, America’s isolationist instincts gave way to internationalism.
Having fully embraced the mantle of world leadership, the US spearheaded institutions and programs designed to rehabilitate war-torn economies and preserve global peace. Among them were:
1. The World Bank and the International Monetary Fund in 1944;
2. The United Nations in 1945;
3. The General Agreement on Tariffs and Trade in 1947, which later transformed into the World Trade Organization in 1995; and,
4. The Marshall Plan in 1948.
The American-led world order lasted for nearly eight decades with the following key achievements:
1. Preventing the outbreak of WWIII;
2. The eventual defeat of the Soviet Union; and,
3. Unprecedented prosperity in most US-aligned nations.
A pivotal factor in the economic revival of the Free World was access to the American market — the most dynamic and lucrative in the world.
It was not only its allies that benefitted but also the US, which posted consistent economic growth and expansion during the period, avoided the recurrence of another Great Depression, and — following the collapse of the Soviet Union — emerged as the world’s sole superpower.
After their Cold War victory, Americans anticipated a “peace dividend.” They expected a portion of the huge defense budget could be redirected toward social services.
That expectation, however, never fully materialized. Why?
Because global demand for US power has not declined. Moreover, it has expanded. Whether in the Middle East, greater Asia, Africa, and even Europe, the clamor for US support has only grown louder.
Consequently, America’s dormant isolationist instincts began to re-awaken. These found expression in questions like: Why must we be the world’s policeman — at great financial and human cost? Why can’t we enjoy the social benefits that befit the world’s largest economy?
These were difficult questions — ones often swept under the rug. But the sense of unfairness and neglect festered, and eventually made its way into the political mainstream.
George W. Bush, Jr. was the first presidential candidate since WWII to acknowledge this growing discontent. Unlike his opponent, Al Gore, Bush promised a shift toward international disengagement, which resonated with the electorate.
But 9/11 happened and Bush’s plans were shelved. Motivated by revenge, the US doubled down on its role in global affairs, with a renewed focus on combating terrorism. The result was the Afghanistan and Iraq wars.
Meanwhile, America’s liberal trade policies — combined with improvements in the quality of foreign-made goods — produced an unintended consequence: a ballooning trade deficit, which has since swelled to $1.13 trillion in 2024.
Regardless of its root causes, President Trump portrayed the deficit as proof the other countries were exploiting America’s generosity. His response: impose unilateral tariffs to restore the balance. Whether this approach will prove effective remains to be seen, but the magnitude of the problem is undeniable.
Domestically, the US budget deficit reached a staggering $37.3 trillion in 2025 — 124% of its GDP (far above the ideal threshold of 60%). To finance these deficits, the US turned to foreign and local lenders. Alarmingly, the funds required just to service this debt now exceed the entire US defense budget.
Exacerbating the situation is the seemingly insensitive behavior of US allies, particularly in the European Union, where defense spending averages just 2% of GDP (compared to 13% for the US). Yet these nations continue to rely on American security protection, while allocating nearly 50% of global social welfare spending within their own borders.
Though America remains a formidable military and economic power, it is beset with serious concerns that it must resolve soon or be weakened by them. The consequences would be dire — not just for the US, but for the entire world.
The allies of the US must therefore begin to understand its vulnerabilities and support the reforms necessary to address those head-on. It’s time for wealthier allied nations to contribute their equal share in preserving the peace and prosperity that America has shouldered for so long.
To dream of preserving the status quo of the current world order — the very system that led to America’s current predicament — may no longer be tenable.
Something has got to give.
This article reflects the personal opinion of the author and does not reflect the official stand of the Management Association of the Philippines or MAP.
Edgardo “Ed” C. Amistad is a member of the MAP Agribusiness Committee. He is an adviser of the Philippine Disaster Resilience Foundation (PDRF) and former president of the UCPB-CIIF Finance and Development Corp., and UCPB-CIIF Foundation.
SEMIRARA MINING and Power Corp. posted a 53% year-on-year decline in third-quarter net income to P1.48 billion, as weaker global coal and electricity prices offset higher production and sales volumes.
Consolidated revenues fell 9% to P11.93 billion, with lower selling prices across both coal and power segments despite improved operating performance, the Consunji-led company said in a stock exchange filing on Monday.
Coal revenues slipped 1% to P8.04 billion, as a 27% increase in production to 3.8 million metric tons (MT) helped cushion the impact of lower selling prices. Shipments rose 23% to 3.6 million MT, supported by stronger exports amid steady domestic demand.
The company cited a 23% drop in the Newcastle Index to $108.50 and a 19% decline in the Indonesian Coal Index 4 to $42.10, reflecting weaker benchmark prices for both high- and low-grade thermal coal.
As a result, the average Semirara selling price slid 20% to P2,249 per MT, driven partly by a higher share of lower-grade output.
In the power business, revenues declined 5% to P5.54 billion, as spot market prices softened.
Total energy sales rose 9% to 1,324 gigawatt hours (GWh), but the average selling price of electricity dropped 7% to P4.44 per kilowatt-hour (kWh). Contracted power prices increased 11% to P5.19 per kWh, while spot rates plunged 23% to P3.73 per kWh.
For the nine months to September, Semirara’s net income slid 37% to P9.89 billion, while revenues fell 13% to P43.26 billion, reflecting weaker market prices and higher operating costs.
Capital expenditures are expected to reach P5.9 billion this year, up 11% from 2024, mainly for coal fleet expansion and equipment upgrades under the company’s plan to raise annual mining capacity to 20 million MT.
“This has been a more difficult year operationally, but we continue to adapt,” Semirara President and Chief Operating Officer Maria Cristina C. Gotianun said in a statement. “Our priority is to strengthen reliability, manage costs and preserve financial flexibility to navigate changing market and operating conditions.”
Semirara remains the country’s only vertically integrated power producer, supplying coal to its own plants as well as to cement and industrial facilities in the Philippines and key export markets including China, South Korea and Brunei.
Semirara stocks dropped 3.33% to close at P31.95 on Monday. — Sheldeen Joy Talavera
The Program, developed in partnership with the DA, ACPC, Department of Agrarian Reform (DAR), National Irrigation Administration (NIA), and private sector partners, is a value chain-based financing initiative that provides holistic support to agricultural stakeholders, with simplified documentary requirements, free life and credit life insurance, and expanded access to technical and market support to help boost productivity and profitability.
LANDBANK also strengthened its presence in Southern Negros with the opening of the Negros Occidental South Corporate Center in Kabankalan City, highlighting the Bank’s commitment to accessible and inclusive financial services.
