Cinnamon and Pili-based incense shows mosquito-repelling properties

March 3, 2025 | 5:03 pm

Initial tests indicate that incense derived from cinnamon bark, almaciga, and pili resin contains chemical components that can potentially repel mosquitoes, Ms. Florena B. Samiano, leader of the Institute’s Flavors and Fragrances from the Forest Technology Program (F3TP), said in an interview.

Interview by Edg Adrian Eva
Video Editing by Arjale Queral

Lack of awareness on government support hinders young innovators

March 3, 2025 | 4:38 pm

Lack of awareness is one of the hurdles for students and young innovators in the Philippines according to Pili AdheSeal, Inc. Chief Executive Officer, and Filipino inventor Mark Kennedy E. Bantugon.

“The students I’ve talked to who wanted to pursue this path always say that the government lacks support for innovators in the country,” Mr. Bantugon told BusinessWorld in Filipino.

Interview by Almira Martinez
Video editing by Jayson Marinas

Pope Francis, off ventilation and stable, rested well overnight, Vatican says

March 3, 2025 | 3:31 pm

VATICAN CITY — Pope Francis rested well overnight and is in a stable condition as he fights double pneumonia in hospital for the 18th day, the Vatican said on Monday.

The 88-year-old pontiff no longer requires the use of mechanical ventilation to breathe and has been without a fever, the Vatican said in its latest medical update on Sunday evening.

“The pope rested well all night,” said a one-line note from the Vatican on Monday morning that did not provide more details. A full medical update on the pope’s condition is expected on Monday evening.

Francis was admitted to Rome’s Gemelli hospital on February 14 with severe respiratory problems that swiftly degenerated into double pneumonia – a serious infection in both lungs that can inflame and scar them, making it difficult to breathe.

The Vatican’s updates on the pope’s condition have taken a more upbeat tone since Friday, when the pope suffered a constriction of his respiratory airways, akin to an asthma attack, that required him to be aspirated.

On Sunday evening, the Vatican said the pope’s condition was stable and he no longer required the use of what was described as “non-invasive, mechanical ventilation”.

But the statement said doctors were keeping the pope’s prognosis as “guarded” due to the complexity of his condition, meaning he is not out of danger.

Francis has experienced several bouts of ill health over the last two years and is prone to lung infections because he had pleurisy as a young adult and had part of one lung removed.

He has not been seen in public since entering hospital, his longest absence from view since his papacy started in March 2013, and his doctors have not said how long his treatment might last. — Reuters

Philippines-US defense arrangements to stay intact, ambassador to Washington says

March 3, 2025 | 3:04 pm

US_PHL-Balikatan — SOLDIERS salute the flags of the Philippines and United States at the closing of the Balikatan exercises, May 10, 2024. — PHILIPPINE STAR/WALTER BOLLOZOS

MANILA – Existing defense agreements between security allies the Philippines and the United States will remain intact under U.S. President Donald Trump, Manila’s ambassador to the United States said on Monday.

For his part, Philippine President Ferdinand Marcos Jr. is ready to travel when Trump has time for a meeting and that could be in the northern spring, Jose Manuel Romualdez told reporters on the sidelines of a forum with foreign media in Manila.

Asked about U.S. security support for the Philippines, including military financing, patrols in the South China Sea and Philippine defense facilities currently used by U.S. forces under their alliance, Mr. Romualdez said: “All of that will remain”.

The United States and former colony the Philippines are staunch defense allies, with U.S. troops rotating in and out of the Southeast Asian country regularly and dozens of joint exercises held each year.

The United States has also deployed to the Philippines a Typhon multipurpose missile system for training purposes, angering China, which has repeatedly said the move poses a threat to regional stability.

The Philippines was seeking to import liquefied natural gas from the United States as part of a “give and take” on trade, Mr. Romualdez said.

His remarks come as some countries in Southeast Asia, including Vietnam and Thailand, scramble to reduce trade surpluses with the United States following Trump’s order to his government to complete a review of all his country’s trade relationships by April 1.

“Trump’s idea of what the United States wants to do is helping other countries become a real partner,” said Mr. Romualdez, who is a cousin of the Philippine president and was posted in Washington under the previous Manila administration. – Reuters

Fuel your body right for stronger, healthier bones

March 3, 2025 | 1:35 pm

Healthy habits and smarter eating choices play a vital role in overall well-being. While diet and fitness often take center stage, one critical aspect of health is often overlooked: Bone Health.

Experts from the Bone Health and Osteoporosis Foundation predict that by 2025, osteoporosis will account for three million fractures worldwide — underscoring the importance of proactive care in maintaining strong bones.

Orthopedic Oncologist Dr. Abigail Tud highlights the vital connection between diet and bone health, emphasizing the importance of calcium intake in building and maintaining strong bones. “The simplest way to address this is by increasing calcium intake,” she explained. “For younger girls, it can be as easy as drinking fortified milk daily. Good sources of calcium are accessible even in low-resource settings, examples of which include taho, tokwa, soy milk or soya beans, cheese or dairy products, fish, sardines, nuts, and green leafy vegetables such as bok choy.”

The Food and Nutrition Research Institute (FNRI) recommends a minimum daily calcium intake of 750 mg for adult Filipinos, which can typically be achieved through a varied and balanced diet. Incorporating calcium-rich foods into daily meals is a proactive and straightforward way to strengthen bones and reduce the risk of osteoporosis.

Here are some calcium-rich foods that can seamlessly fit into daily diets:
Dairy Products: Milk, cheese, and yogurt are top sources of calcium, with an 8-ounce glass of milk providing 300 mg.
Leafy Greens: Vegetables such as kale, collard greens, and bok choy are excellent non-dairy options, offering up to 177 mg of calcium per cooked cup.
Tofu and Soy Foods: Calcium-set tofu delivers 434 mg per half-cup, with soy milk and soybeans also serving as great dairy alternatives.
Canned Fish: Sardines and canned salmon, which contain edible bones, provide up to 325 mg of calcium in a three-ounce serving.
Nuts and Seeds: Almonds, sesame seeds, and tahini (sesame butter) are nutrient-dense options. Two tablespoons of ground sesame seeds offer 128 mg of calcium.
Fortified Products: Many plant-based milks and cereals are fortified with calcium, often matching or exceeding the calcium content of dairy products.

While increasing calcium intake is crucial, it’s important to be aware of certain foods and habits that can hinder calcium absorption.

According to the Bone Health and Osteoporosis Foundation, some foods — such as beans and 100% wheat bran — contain phytates, or phytic acids, that can reduce calcium absorption in the gut. Soaking beans before cooking and consuming wheat bran separately from calcium-rich foods or supplements can help reduce this effect. Protein is another important component. While many older adults don’t consume enough protein, excessive intake, especially from high-protein diets, can lead to hypercalciuria, or increased urinary excretion of calcium.

This is why having a balanced diet that includes adequate hydration and fortified dairy products, which provide both protein and calcium, is essential for optimum nutrition. High sodium consumption especially from ultra-processed and fast food, may also contribute to increased calcium excretion.

This is why limiting these food items as well as overall sodium intake to below 2,300 mg daily is a good practice for bone health and overall well-being (as an example, some instant noodles contain as much as 1,000 mg of sodium per serving!) Even caffeinated and/or alcoholic beverages such as coffee, tea, colas and beers can reduce calcium absorption when consumed in excess, which is why health experts recommend moderating intake.

The NHS UK further emphasizes the importance of Vitamin D in supporting bone health and reducing the risk of osteoporosis. Vitamin D can be found in oily fish like salmon, sardines, and mackerel; egg yolks; and fortified foods like nut-based spreads and breakfast cereals.

Dr. Tud stresses the importance of appropriate sun exposure for natural Vitamin D synthesis. “Daily exposure ranging from 5 to 30 minutes between 10 a.m. and 3 p.m. are good for your bones, just make sure to apply sunscreen for protection,” she explained.

She also advocates for an active lifestyle to support stronger bones. “Our bones get weak when we don’t use them. Resistance exercises, 15-30 minutes a day, are an excellent lifestyle choice.” Data from the 2021 Expanded National Nutrition Survey (ENNIS) reveals that approximately 97% of Filipinos adults aged 19 to 59 years old and 96% of those above 60 are calcium-deficient. Consequently, the Osteoporosis Society of the Philippines Foundation, Inc. (OSPFI) estimates that by 2050, around 10.2 million Filipinos could face this condition.

Prioritizing bone health through a calcium-rich diet, sufficient Vitamin D, and regular resistance exercises is a resolution worth keeping this year. Small but consistent changes, along with regular checkups to assess bone health, can significantly reduce the risk of osteoporosis. With millions of fractures projected this year due to weak bones, now is the time to commit to stronger habits for a healthier future.

Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by publishing their stories on the BusinessWorld Web site. For more information, send an email to online@bworldonline.com.

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DOST eyes potential use of cinnamon, pili-based mosquito repellent

March 3, 2025 | 1:31 pm

A mosquito repellent made from forest products is being developed by the Department of Science and Technology (DOST) to support the country’s efforts against dengue.

Residual byproducts from essential oil production, such as cinnamon bark, almaciga, and pili resin are being repurposed into incense cones and sticks as insect repellents by experts from the DOST-Forest Products Research and Development Institute (DOST-FPRDI).

Resource Person: Ms. Florena B. Samiano, leader of the Institute’s Flavors and Fragrances from the Forest Technology Program (F3TP).

Interview by Edg Adrian Eva

Video Editing by Arjale Queral

USAID official warns of unnecessary deaths from Trump’s foreign aid block, then says he’s been put on leave

March 3, 2025 | 11:32 am

A senior official with the U.S. Agency for International Development in an email on Sunday warned that the Trump administration’s dismantling of the agency will result in unnecessary deaths — only to email his staff less than 30 minutes later to say that he had been placed on leave.

Nicholas Enrich, USAID’s acting assistant administrator for global health, in the seven-page memo shared with staff, and which was seen by Reuters, said “political leadership” had made it impossible to deliver lifesaving humanitarian assistance around the world, contradicting assurances from Secretary of State Marco Rubio that such aid would continue despite President Donald Trump and billionaire Elon Musk’s cost-cutting campaign.

Twenty minutes later, Mr. Enrich sent another email, which was also seen by Reuters, that he had “just received notification that I have been placed on administrative leave, effective immediately.”

A source familiar with the matter said the decision to put Enrich on administrative leave was made Wednesday, before he sent his email on the consequences of USAID’s dismantling.

Spokespeople for the State Department and DOGE did not immediately respond to requests for comment. Enrich did not respond to a query from Reuters.

The blocked USAID programs include efforts to help contain a deadly Ebola outbreak in Uganda that had killed two and infected 10, Enrich said in the memo seen by Reuters.

“This will no doubt result in preventable death, destabilization, and threats to national security on a massive scale,” Mr. Enrich wrote in the memo, which was dated Feb. 28 and shared widely with staff in the global health division on Sunday afternoon.

The Trump administration announced last week that it was canceling nearly 10,000 foreign aid grants and contracts worth almost $60 billion, ending about 90% of USAID’s global work.

The shuttering of USAID is part of an unprecedented downsizing of the federal government by Mr. Musk’s so-called Department of Government Efficiency. The agency’s sudden demise has thrown global humanitarian relief efforts into chaos.

In a separate memo seen by Reuters, Enrich estimated that a year-long pause in lifesaving aid from USAID would cause between 71,000 and 166,000 additional malaria deaths, a nearly 40% increase; an increase of between 28% and 32% in tuberculosis cases worldwide; and up to 28,000 cases of emerging infectious diseases such as Ebola.

After Mr. Trump ordered all foreign aid frozen in January pending a review, Secretary of State Marco Rubio issued a temporary waiver for lifesaving assistance, such as essential medicines, food and shelter.

But Enrich said DOGE workers and other political appointees have made it impossible to approve payments for those critical programs. According to Mr. Enrich’s memo, various officials at USAID and the State Department issued conflicting guidance on what programs would qualify for the waiver and how they would be funded.

Since February 14, Mr. Enrich said, “zero lifesaving health activities” have been approved.

Even when a program was approved under the waiver, DOGE had cut off access to the agency’s payment systems, Enrich wrote. For instance, USAID obtained permission to conduct Ebola response activities in Uganda a month ago, but partner organizations on the ground were not able to draw down funds. – Reuters

Ukraine’s Zelenskiy says he can salvage relationship with US

March 3, 2025 | 11:30 am

UKRAINE-CRISIS-ZELENSKIY-SINGAPORE — Ukrainian President Volodymyr Zelensky, June 2, 2024. — REUTERS

LONDON – Ukraine’s Volodymyr Zelenskiy said on Sunday he believed he could salvage his relationship with U.S. President Donald Trump after their explosive meeting in the Oval Office, but that talks needed to continue behind closed doors.

Mr. Zelenskiy reiterated that Ukraine would not concede any territory to Russia as part of a peace deal. He said he was still willing to sign a minerals deal with the U.S. and described a discussion on Sunday with European leaders to send a draft peace plan to the U.S. as a key development.

In an extraordinary meeting that was broadcast live on Friday, Mr. Trump accused Mr. Zelenskiy of being ungrateful for U.S. aid, of showing disrespect to his country and of risking World War Three, casting into doubt Washington’s ongoing support for Ukraine in its three-year-long war with Russia.

Mr. Zelenskiy spoke to reporters at a London airport after a summit with European leaders in London on Sunday. While he seemed in good spirits and thanked European countries for their support, the Ukrainian leader was careful to balance his dismay with the events of Friday’s Oval Office meeting with a clear desire to keep talking with Washington.

Mr. Zelenskiy said he did not think the U.S. would stop its assistance to Ukraine, because as “leaders of the civilized world” they would not want to help Russian President Vladimir Putin.

But he said he remained prepared for any outcome.

“As regards salvaging the relationship, I think our relationship will continue,” Mr. Zelenskiy told reporters via a translator after the London summit.

But he added: “I do not think it’s right when such discussions are totally open. … The format of what happened, I don’t think it brought something positive or additional to us as partners.”

A visibly shaken Mr. Zelenskiy arrived in London on Saturday where he was met with a warm embrace from British Prime Minister Keir Starmer and by cheering supporters around Downing Street.

At the summit on Sunday Mr. Starmer said European leaders had agreed to draw up a Ukraine peace plan to take to the U.S., in the hope that Washington would offer the security guarantees Kyiv says are vital to deter Russia.

Mr. Zelenskiy said Ukraine relied on the U.S. as its top military backer and that stopping the supply of weapons would only help Putin. “The U.S. are … leaders of the civilized world, and they will not help Putin,” he said.

An influential Russian parliamentarian, Konstantin Kosachev, on Sunday derided the hopes for Europe’s stepping up to forge a peace plan. “And if Ukraine should count on something, it can only be on progress (if there is any to come) in Russian-American relations,” he wrote on Telegram.

READY TO SIGN MINERALS DEAL

The abrupt ending to Mr. Zelenskiy’s Washington trip meant that the two countries failed to sign a much-vaunted minerals deal that Kyiv hoped would spur Trump to back Ukraine’s war effort, but Mr. Zelenskiy said Ukraine was still willing to sign it.

“We agreed upon signing it; and we were ready to sign it. And honestly I believe the United States would be ready as well,” he said.

Mr. Trump had sought to cast the minerals deal as a way for Ukraine, which is home to a trove of lithium deposits and rare earth minerals, to repay the U.S. for its billions of dollars in aid.

While Mr. Zelenskiy sought to avoid any further antagonism of the U.S., saying he did not want to go over what had happened, he was more forceful on any future ceasefire deal, saying Ukraine would not hand sovereignty of occupied Ukrainian land to Russia.

“Everyone needs to understand that Ukraine will never recognize whatever is occupied by Russia as Russian territories,” he said.

“We hope that these security guarantees will make it 100% impossible to give Russia the opportunity to come with another aggression”.

Mr. Zelenskiy said there had been contact between Kyiv and Washington since Friday’s bust-up, although not at his level, and asked if he had considered resigning, he showed no sign of wavering.

“As regards resignation, if I’m to be changed … to change me it will not be easy because it is not enough to simply hold elections. You would need to prevent me from participating in the elections and it will be a bit more difficult.”

Some Republican leaders had suggested that Mr. Zelenskiy needed to resign after Friday’s meeting with Mr. Trump.

Mr. Zelenskiy repeated again, however, that if Ukraine was granted NATO membership, he would have fulfilled his mission. – Reuters

UK lawmakers push for stronger regulation on forced labor in supply chains

March 3, 2025 | 11:25 am

london-parliament-palace-530055_1920 — STOCK PHOTO | Image by Adam Derewecki from Pixabay

LONDON – Britain must strengthen its safeguards against forced labour in supply chains to avoid the country becoming a dumping ground for products banned in other markets, lawmakers said in an report on Monday.

Lawmakers on the cross-party Business and Trade Committee called on ministers to update Britain’s modern slavery legislation, penalize companies that fail to publish modern slavery statements, and consider creating a criminal offence around forced labor in supply chains.

“The UK is at serious risk of becoming a ‘dumping ground’ for products made with forced labor if it does not keep up with our global partners on legislative reforms to tackle modern slavery,” the report said.

The United States has forced labor legislation in place banning products made in China’s Xinjiang region, and European Union forced labor regulation will come into effect in December 2027.

The U.S. government and non-governmental organizations accuse China of forced labor and human rights abuses targeting Uyghur people in Xinjiang, allegations Beijing denies.

Lawmakers interviewed representatives from online fast-fashion retailer Shein, which aims to list in London this year, and online marketplace Temu as part of their inquiry, as both platforms face allegations their products contain cotton from Xinjiang.

Shein’s general counsel for Europe, the Middle East and Africa, Yinan Zhu, dodged lawmakers’ questions in January about the source of cotton in products shipped to the UK, and this refusal to reply was “a source of extreme concern”, the report said.

In subsequent written replies to the committee’s questions, Zhu said Shein does not allow Chinese cotton in products sold in the U.S., and that there is no legal restriction in Britain on the origin of cotton, but in practice there is overlap between the products Shein sells in both countries.

Shein, which sells in 150 markets worldwide, says it has a zero-tolerance policy on forced labor. Temu has also said it strictly prohibits forced labor. – Reuters

Trump names cryptocurrencies in strategic reserve, sending prices up

March 3, 2025 | 11:18 am

WEST PALM BEACH, Florida – U.S. President Donald Trump on social media announced the names of five digital assets he expects to include in a new U.S. strategic reserve of cryptocurrencies on Sunday, spiking the market value of each.

Mr. Trump said in a post on Truth Social that his January executive order on digital assets would create a stockpile of currencies including bitcoin, ether, XRP, solana and cardano. The names had not previously been announced.

More than an hour later, Mr. Trump added: “And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be at the heart of the Reserve.”

Bitcoin, the world’s largest cryptocurrency by market value, was up more than 11% at $94,164 Sunday afternoon. Ether, the second-largest cryptocurrency, was up about 13% at $2,516.

The total cryptocurrency market has risen about 10%, or more than $300 billion, in the hours since Trump’s announcement, according to CoinGecko, a cryptocurrency data and analysis company.

XRP is cryptocurrency company Ripple Labs’ token. Ripple backed a so-called super PAC to influence congressional elections in November in favor of the crypto industry, Reuters reported.

“This move signals a shift toward active participation in the crypto economy by the U.S. government,” said Federico Brokate, head of U.S. business at 21Shares, a digital assets investment management firm. “It has the potential to accelerate institutional adoption, provide greater regulatory clarity, and strengthen the U.S.’s leadership in digital asset innovation.”

James Butterfill, head of research at asset manager CoinShares, said he was surprised to see digital assets other than bitcoin included in the reserve.

“Unlike bitcoin…these assets are more akin to tech investments,” Mr. Butterfill said. “The announcement suggests a more patriotic stance toward the broader crypto technology space, with little regard for the fundamental qualities of these assets.”

Mr. Trump won support from the crypto industry in his 2024 election bid, and he has quickly moved to back their policy priorities. He is hosting the first White House Crypto Summit on Friday, and his family has also launched its own coins.

Under his Democratic predecessor, Joe Biden, regulators cracked down on the industry in a bid to protect Americans from fraud and money laundering.

Under Mr. Trump, the Securities and Exchange Commission has withdrawn investigations into several crypto companies and dropped a lawsuit against Coinbase, the largest crypto exchange in the U.S.

But in recent weeks cryptocurrency prices are down sharply, with some of the biggest digital currencies erasing nearly all of the gains made after Trump’s election win triggered a wave of excitement across the industry.

Analysts say the market needs a reason to move higher, such as signs that the U.S. Federal Reserve plans to cut interest rates or a clear pro-crypto regulatory framework from the Trump administration.

Reuters has reported that Geoff Kendrick, an analyst at Standard Chartered, is targeting bitcoin to hit $500,000, against a record high of $109,071, before Trump leaves office.

Regulatory filings in the U.S. showed that while hedge funds remain the dominant crypto buyers, banks and sovereign wealth funds are buying too.

Quarterly filings showed that asset managers boosted allocations to U.S. ETFs tied to the price of spot bitcoin in the fourth quarter of 2024.

Analysts and legal experts are divided on whether an act of Congress will be necessary to set up the reserve. Some have argued the reserve could be created via the U.S. Treasury’s Exchange Stabilization Fund, which can be used to purchase or sell foreign currencies.

Trump’s crypto group had planned to look at potentially creating the stockpile with cryptocurrencies seized in law enforcement actions. – Reuters

Trump allies pressure Zelenskiy to change course or resign

March 3, 2025 | 11:13 am

Trump-Zelenskiy — Donald Trump and Ukraine’s President Volodymyr Zelenskiy meet at Trump Tower in New York City, U.S., Sept. 27, 2024. — REUTERS

WASHINGTON – Top Republicans aligned with U.S. President Donald Trump pushed Ukrainian President Volodymyr Zelenskiy on Sunday to change his position on the war with Russia or step aside, ramping up pressure on the Ukrainian leader after a contentious White House meeting last week.

European leaders gave a show of support to Mr. Zelenskiy at a meeting in London on Sunday, with British Prime Minister Keir Starmer urging his counterparts to step up their defense efforts, just two days after Trump and Vice President JD Vance clashed with Zelenskiy in the Oval Office, spurring him to leave early without signing a planned minerals deal.

The blowup, which showcased Mr. Vance in an attack dog role for his boss, stunned leaders around the world and raised questions about the next phase of the war, which Russia started by invading Ukraine three years ago, and Trump’s efforts to end it.

Mr. Zelenskiy argued in the meeting that Russian President Vladimir Putin had not honored a 2019 ceasefire agreement and described him as a killer and a terrorist.

Mr. Trump’s national security adviser, Mike Waltz, said it was not clear to the administration that Mr. Zelenskiy was ready to negotiate an end of the war. Mr. Waltz underscored Mr. Trump’s goal for a permanent peace between Moscow and Kyiv involving territorial concessions in exchange for European-led security guarantees.

Asked whether Mr. Trump wanted Mr. Zelenskiy to resign, Mr. Waltz told CNN’s “State of the Union” program: “We need a leader that can deal with us, eventually deal with the Russians and end this war.”

“If it becomes apparent that President Zelenskiy’s either personal motivations or political motivations are divergent from ending the fighting in his country, then I think we have a real issue on our hands,” Mr. Waltz added.

U.S. Senator Lindsey Graham of South Carolina, a top Trump ally and also an advocate for Ukraine, questioned whether the United States could still work with Mr. Zelenskiy following the White House clash in remarks to reporters on Friday.

House of Representatives Speaker Mike Johnson issued a similar message on Sunday.

“Something has to change. Either he needs to come to his senses and come back to the table in gratitude, or someone else needs to lead the country to do that,” the top congressional Republican told NBC’s “Meet the Press” program, referring to Mr. Zelenskiy.

“I’d like to see Putin defeated, frankly. He is an adversary of the United States. But in this conflict, we’ve got to bring an end to this war.”

‘ABSOLUTELY SHAMEFUL’

U.S. Senator Bernie Sanders, an independent from Vermont aligned with the Democrats, dismissed suggestions that Mr. Zelenskiy should resign.

“I think that is a horrific suggestion. Zelenskiy is leading a country, trying to defend democracy against an authoritarian dictator, Putin, who invaded his country,” Sanders said on “Meet the Press.” Republican U.S. Senator James Lankford of Oklahoma said on the same program that he did not agree with calls for Mr. Zelenskiy to resign.

Democrats have expressed disgust over the tenor of Trump’s meeting with the Ukrainian leader.

U.S. Senator Chris Murphy of Connecticut lambasted the White House for drawing closer to Russia than to fellow democracies.

“It is absolutely shameful what is happening right now. The White House has become an arm of the Kremlin,” he said on CNN’s “State of the Union” program. “The entire pretext for that meeting… was an attempt to rewrite history in order to sign a deal with Putin that hands Putin Ukraine. That is disastrous for U.S. national security.”

Mr. Waltz called it “absolutely false” that the Oval Office meeting was an ambush, and the Trump administration put the onus on the Ukrainians to shift their position.

“We’ll be ready to reengage when they’re ready to make peace,” Secretary of State Marco Rubio said on ABC’s “This Week” program. He said he had not spoken to Mr. Zelenskiy or Ukrainian Foreign Minister Andrii Sybiha since the Friday meeting.

“No one here is claiming Vladimir Putin is going to get the Nobel Peace Prize this year,” Rubio said, while arguing that negotiations with Moscow were required. “You’re not going to bring them to the table if you’re calling them names, if you’re being antagonistic.”

Democrat Amy Klobuchar, a U.S. senator from Minnesota, said on “This Week” that she was “appalled” by the clash in the Oval Office and that she had met with Mr. Zelenskiy before he went to the White House on Friday.

“There is still an opening here” for a peace deal, she said. – Reuters

Global Dominion recognized as Fastest Growing Business Financing Nonbank in the Philippines

March 3, 2025 | 9:30 am

By Jay Ann Bonghanoy

Global Dominion has once again proven its industry leadership, earning the prestigious Fastest Growing Business Financing Nonbank-Philippines award at the International Finance Awards 2024. The ceremony, held at the Waldorf Astoria Bangkok, celebrated companies that have demonstrated excellence in financial services, innovation, and customer commitment.

Chairman Ruben Y. Lugtu II personally received the award, a testament to Global Dominion’s remarkable impact on the Philippine financial sector. The company has been instrumental in providing accessible, flexible, and innovative business financing solutions to entrepreneurs and small-to-medium enterprises (SMEs) across the country.

Expressing his gratitude, Chairman Lugtu II commended the team’s dedication: “Congratulations to all of you — the team who made this possible. Cheers to our success! Thank you!”

The “International Finance Awards 2024” recognizes outstanding companies worldwide that set industry benchmarks in financial services, customer-centric solutions, and groundbreaking innovation. Global Dominion’s impressive growth in the non-bank financing sector has helped shape the entrepreneurial landscape in the Philippines, supporting businesses in securing the capital they need to thrive and expand.

Global Dominion is transforming the future of Filipino entrepreneurs by breaking financial barriers and empowering thousands of SMEs. With accessible and innovative financial solutions, the company has helped businesses achieve independence, boost productivity, and fuel economic growth. This award is not just a recognition — it’s a testament to Global Dominion’s mission to make financial support more inclusive for every aspiring business owner.

More than a milestone, this achievement reinforces the company’s relentless pursuit of innovation and sustainable growth. Global Dominion is dedicated to delivering cutting-edge financial solutions tailored to the ever-changing needs of businesses, ensuring that entrepreneurs have the resources to build, expand, and thrive with confidence.

This recognition is both a celebration of success and a driving force to push boundaries in the non-bank financing industry. As Global Dominion continues to grow, it remains committed to setting new standards, leading the sector, and creating meaningful opportunities for businesses across the country.

At its core, Global Dominion believes financial success isn’t just about numbers — it’s about empowering dreams, unlocking potential, and making a lasting impact on the lives of Filipino entrepreneurs. The journey doesn’t stop here. With an unwavering vision and a customer-first approach, Global Dominion is shaping a brighter, more financially inclusive future for all.

Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by publishing their stories on the BusinessWorld Web site. For more information, send an email to online@bworldonline.com.

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