Gov’t eyes bidding for LRT-2, MRT-3 contracts in early 2026

September 29, 2025 | 12:32 am

By Ashley Erika O. Jose, Reporter

THE Department of Transportation (DoTr) aims to start the bidding process for the operations and maintenance (O&M) of Light Rail Transit Line 2 (LRT-2) and Metro Rail Transit Line 3 (MRT-3) within the first half of 2026.

“The bidding of LRT-2 (O&M contract) will definitely be by the first half of next year. We will be submitting it to DEPDev (Department of Economy, Planning, and Development) simultaneously with the bidding of MRT-3,” Transportation Undersecretary for Railways Timothy John R. Batan told reporters on the sidelines of Arangkada Investments Forum 2025 last week.

The government is adopting a dual track for the privatization of the MRT-3, he said, noting the DoTr will not turn away any unsolicited proposals while it is soliciting bids.

The government is targeting to implement the solicited bidding process for the MRT-3 project by early next year, Mr. Batan said.

“We are on dual track for MRT-3. We are pursuing a solicited together with the ADB (Asian Development Bank). But we are also open to unsolicited proposals,” he said.

The Transportation department has also hinted at receiving an unsolicited proposal for the operations and maintenance of MRT-3, though Mr. Batan declined to name the proponent, referring only to the group as one of the “usual suspects.”

“We actually think that a proposal, an unsolicited proposal will be submitted very soon. So, once that is submitted, we will definitely look at that seriously,” he said.

Mr. Batan said a proponent has expressed interest, but a formal proposal has yet to be submitted.

The Public-Private Partnership (PPP) Center has said that the Transportation department rejected Metro Pacific Investments Corp.’s (MPIC) unsolicited proposal for the MRT-3 project in December 2024.

BusinessWorld sought comment from MPIC on whether it would revive its submission for the MRT-3 project but had yet to receive a response by the deadline.

Earlier this year, MPIC Chairman Manuel V. Pangilinan said the company is unlikely to resubmit its unsolicited proposal for the MRT-3 project.

Rene S. Santiago, former president of the Transportation Science Society of the Philippines called the DoTr’s move as indecisive, adding that the government should not have rejected the MPIC-Sumitomo proposal.

“In the first place, they should not have rejected the MPIC-Sumitomo unsolicited proposal last December. By this time, a Swiss Challenge would have been received, compared and awarded,” Mr. Santiago said in a Viber message.

Aside from the group, San Miguel Corp. has also previously submitted an unsolicited proposal for the MRT-3 project.

Mr. Batan likened the DoTr’s dual track for MRT-3 project to that of Ninoy Aquino International Airport (NAIA) rehabilitation and operations project where the government accepted unsolicited proposals before ultimately taking the solicited route.

“You have to remember when we did NAIA, we also had non-solicited and solicited. We do an evaluation. So, until we receive it (unsolicited proposal), we do not know what it looks like,” he said.

For Nigel Paul C. Villarete, senior adviser on PPP at the technical advisory group Libra Konsult, Inc., unsolicited proposals are usually only accommodated when agencies do not have a definite intention of proceeding with a solicited route.

“Shifting from one mode to another is uneconomical and may result in confusion. It would be in the government’s best interest to finalize the mode of procurement first, and proceed from that,” Mr. Villarete said in a Viber message.

A solicited mode is likely more advantageous to the government as it explicitly specifies the terms and coverage of the concession agreement, Mr. Villarete said,

“Solicited bids will always be superior to unsolicited ones, in terms of covenants because the government prepared it in accordance with what it wants,” Mr. Villarete said.

“In other words, don’t do a dual track. If there’s an unsolicited proposal, work on that. But if there is none, proceed with the solicited mode,” he said.

The DoTr had initially aimed to initiate the bidding process for the operations and maintenance of the MRT-3 before the expiration of its build-lease-transfer (BLT) agreement with the Sobrepeña-led Metro Rail Transit Corp. (MRTC) in July 2025.

Under the BLT concession, the DoTr holds the franchise and manages operations and fare collection, while MRTC builds and maintains the system in exchange for regular payments from the government. Following the contract’s expiration, the ownership and operations of MRT-3 have been transferred to the government.

Further, Mr. Batan said the government is also planning to start the bidding process for the operations and maintenance of LRT-2 by the first half of 2026.

The DoTr is working with the International Finance Corp. for the planned privatization of LRT-2, which is currently operated and managed by Light Rail Transit Authority.

The plan to privatize LRT-2 via public-private partnership aims to increase its ridership and extend its rail line.

Artificial intelligence gives Philippine entrepreneurs a competitive edge

September 29, 2025 | 12:31 am

AI-Artificial Intelligence — Words reading “Artificial intelligence AI” of miniature robot and toy hand are pictured in this illustration taken on Dec. 14, 2023. — REUTERS/DADO RUVIC/ILLUSTRATION

By Beatriz Marie D. Cruz, Reporter

AMARI NEIL B. DIMAFELIZ, 18, first turned to artificial intelligence (AI) in 2023 when his small 3D-printing business started growing faster than he could manage.

Running a youth-led enterprise with limited manpower, he struggled to find employees willing to work for someone still in college. “My age has been an obstacle to hiring people, so I turned to AI because it’s not selective in who it’s performing for,” he said by telephone.

Instead of hiring extra staff, Mr. Dimafeliz invested in a P100,000 printer with AI features that automatically checks the quality of his customized products, which include keychains, figurines, thesis prototypes, coasters, ballpens and pencil cases.

“On the operational side, our printers use artificial intelligence for precautionary measures when there are failures in printing,” he said.

AI also helps market his products. He uses it to generate captions and images for his small business’ social media pages, a task that once ate up hours of his time. For a full-time mechanical engineering student at Mapua University, AI has become a crucial tool for balancing academics with entrepreneurship.

Stories like Mr. Dimafeliz’s illustrate how AI could reshape the way micro, small and medium enterprises (MSME) operate.

MSMEs account for about 99% of all businesses in the Philippines, yet adoption of advanced digital tools remains low. As of 2021, only 14.9% of firms had integrated AI, according to the government think tank Philippine Institute for Development Studies (PIDS).

AI has the potential to transform these businesses, said Ian Jester M. De Vera, head of the research division at the University of the Philippines Institute for Small-Scale Industries (UP ISSI). “Some of the tasks of MSMEs are just repetitive, so if they’re going to leverage AI, they will do away with these tasks,” he told BusinessWorld by telephone.

AI can also help smaller firms scale operations and compete with larger corporations, said John Paolo R. Rivera, a PIDS senior research fellow. “By using AI, MSMEs can better compete with larger firms and participate in digital trade,” he said in a Viber message.

Among its practical benefits: AI can forecast demand, analyze customer behavior, and reduce overstock or shortages. It can personalize marketing strategies and improve logistics efficiency.

Beyond operations, AI can handle invoicing, payroll and appointment scheduling, reducing costs and human error. Virtual assistants and chatbots can also take over routine customer service inquiries, saving time for owners and staff.

AI may even help protect businesses from rising cyberthreats. MSMEs are often prime targets for ransomware and phishing attacks, noted Bambi Escalante, country manager at Fortinet Philippines.

STEEP CHALLENGES
“Most small and medium businesses don’t have dedicated IT security teams, making it difficult to keep up with evolving threats,” she told BusinessWorld in an e-mailed reply to questions. “This is where AI becomes a game-changer — it automates routine security tasks and helps businesses stay ahead of cyber risks without needing extensive resources.”

A joint study by Google and Access Partnership estimates that if widely adopted, AI-powered products and solutions could unlock as much as P2.8 trillion in economic benefits for Philippine businesses.

Despite its promise, AI adoption among MSMEs faces steep challenges.

For one, resources remain tight. “Let’s face it, MSMEs have limited resources, and some of them are even cash-strapped,” Mr. De Vera said. “If AI would just add to their costs, maybe they would think twice about adopting it.”

Generational gaps also play a role. Many first-generation business founders remain hesitant to use AI themselves. “When I talk about AI, of course they’re amazed, but they instead want their children to learn how to use it, because they don’t know how to use it,” said Reynaldo C. Lugtu, Jr., president and chief executive officer (CEO) at consulting firm Hungry Workhorse.

Digital infrastructure is another major hurdle. Reliable internet access is still uneven across the country. “The foremost barrier is infrastructure, because it’s still a problem, especially in a developing country like the Philippines, to have a reliable internet connection,” Mr. De Vera said.

The Philippines ranked 56^th out of 77 countries in Huawei Technologies’ 2024 Global Digitalization Index, classifying it as a “starter” in digital transformation.

MSMEs also often lack the data needed to fuel AI systems. “AI requires large datasets to function effectively, but many MSMEs struggle with limited or unstructured data,” Mr. Rivera said. This data gap also affects their access to credit, marketing insights and long-term planning.

To address these challenges, organizations are working to strengthen MSMEs’ digital skills. The UP ISSI offers training and mentorship programs, guiding entrepreneurs on responsible AI use, strategy development and data-driven decision making. It has also rolled out a business course covering AI systems, analysis tools and ethical frameworks.

Private firms are innovating as well. Peddlr, a smart point-of-sale (POS) app for small businesses, plans to integrate AI into its analytics and reporting features.

“It is on our product roadmap to incorporate this technology with our POS app, starting with the reports and analytics module,” Peddlr founder and CEO Nel Laygo said in an e-mailed reply to questions.

Mr. Laygo added that MSMEs should begin embedding AI proficiency into their workforce development. “They should start incorporating AI proficiency into internal training to upskill staff and include this as a requirement when hiring new talent, alongside proficiency in Microsoft Word, PowerPoint and Excel,” he said.

Experts say both the government and private sector need to step in by subsidizing AI tools, improving internet infrastructure, and promoting digital literacy. “Both sectors can also invest in digital literacy and training, so this will upskill MSME employees through courses and workshops that will improve their competence in using AI,” Mr. De Vera said.

While MSMEs worldwide are beginning to integrate AI into their operations, many owners remain cautious about overreliance.

Mr. Dimafeliz, whose 3D-printing business continues to grow alongside his studies, sees AI as a helpful partner but not a substitute for creativity.

“AI is not perfect,” he said. “We still have to apply our personal touch to ensure originality. We still need the intervention of human beings.”

BusinessWorld @ 38: Strengthening the legacy of print media and beyond

September 29, 2025 | 12:15 am

By Bjorn Biel M. Beltran, Special Features and Content Assistant Editor

For decades now, legacy media companies around the world have been confronting a flurry of challenges from declining print revenues, shifting audience behaviors, and disruptive technologies. Survival in this industry, let alone growth, is something of an anomaly.

And yet, against this backdrop, BusinessWorld has not only withstood the pressures reshaping the media landscape, it has emerged bigger and better than it ever was during the heyday of print.

As President and Chief Executive Officer Miguel G. Belmonte noted, “It may sound unusual, but BusinessWorld is actually doing better post-pandemic than during the heyday of newspapers.”

BusinessWorld President and CEO Miguel G. Belmonte

“What is good is that in terms of net profit, we are actually showing better bottom lines now than during the pre-pandemic years. Clearly, in terms of success as a corporation, BusinessWorld is possibly even top three now among the print companies. I believe we’re doing a good job.”

Mr. Belmonte explained that the publication’s continued relevance has been the result of deliberate strategy based on a sharpened understanding of the business community it serves. On its 38^th year, BusinessWorld still puts significance on the value of print newspapers, but the brand itself has gone beyond that as a multi-platform provider of business information, insight, and analysis — a platform still trusted by decision-makers, yet one steadily adapting to reach the next generation of readers.

“I think that we’re still pretty much using the same strategy as before a few years prior to the pandemic. We’ve diversified our mix with other revenue streams such as digital and events, but our print has held its own,” he said.

In fact, to speak on BusinessWorld’s print readership, Mr. Belmonte noted that the company “continues to have a considerable readership and even more so have maintained influence on society.”

“Fact is, decision-makers of today are still reading BusinessWorld,” he said. “We acknowledge that print is under great pressure, so we really have to do our best to come up with the best product we can come up with. The challenge for us is to be better than our competitors, and again, I believe that we are doing very well in the race and that we’re doing better than all our competitors.”

BusinessWorld Executive Vice-President Lucien C. Dy Tioco

Lucien C. Dy Tioco, executive vice-president of BusinessWorld, explained that as today’s media landscape becomes more muddied with the proliferation of disinformation, toxicity, and closed-minded biases, print media retains its value as a beacon of integrity.

“If you assess where this is headed, there comes a point where you start to value things that have been lost along the way. Newspapers bring a needed relevance in the mix because of its presentation of news, unbiased reporting and journalistic integrity,” he said.

Vice-President for Sales and Marketing Jay R. Sarmiento further noted that while digital media offers immediacy, interactivity, and widespread accessibility, print media maintains certain advantages such as a physical, lasting experience that digital isn’t able to fully replicate.

BusinessWorld Vice-President for Sales and Marketing Jay R. Sarmiento

Ms. Sarmiento said print can provide “credible and trustworthy content especially for in-depth journalism, academic content, or official documentation and serves as a crucial source of information where internet access remains limited.”

Navigating ever-changing landscapes

Still, acknowledging the enduring value of print is not the same as resisting change. BusinessWorld’s leadership has their eyes open to the demographic and behavioral shifts shaping the future of media consumption.

While its print edition remains a trusted source for policy makers and executives, the next generation of decision-makers who are digital natives shaped by algorithmic feeds and mobile-first platforms require a different approach.

BusinessWorld Editor-in-Chief Cathy Rose A. Garcia

Cathy Rose A. Garcia, editor-in-chief of BusinessWorld, pointed out that according to Reuters’ latest Digital News Report, video has overtaken print and radio as the preferred medium for news in the Philippines, as more people now prefer to watch than listen or read the news.

“This shift compels us to rethink the traditional model for print media. In recent months, BusinessWorld has been introducing more video reports,” she said. “Our online team has come out with more video reports about small businesses as well as legacy businesses. We have also increased our presence in YouTube, Instagram, Facebook and TikTok, as a way to boost our multimedia offerings.”

Mr. Dy Tioco shared his insights: “Digital transformation is a continuum, as newer technologies enhance the things we do and consume. It is therefore expected that this progression has a perpetual effect on the media landscape as technology always changes behavior.”

“With rapid digitalization and evolving audience behaviors, BusinessWorld is also reshaping its vision to leverage these changes and solidify its position as the leading source of credible business news and analysis, not just in print, but across all platforms. This involves adapting its business model, content strategy, and technological infrastructure to remain relevant and sustainable for the future,” Ms. Sarmiento also explained.

According to Ms. Garcia, the goal then is for BusinessWorld to become a multi-platform media brand.

“We have to focus on meeting the audiences where they are. BusinessWorld has to embrace digital formats while leveraging our legacy of credibility,” she said.

Rethinking in an AI-driven future

Emerging technology like generative artificial intelligence (Gen AI) pushes the future of media further into ambiguity. The rapid proliferation of deepfakes and fake news, alongside growing public distrust in journalism, presents yet another challenge that publications like BusinessWorld must confront.

In this environment, relevance demands so much more than credibility. To find purchase in the minds of the new generation, a publication must be accessible, agile, and have a voice that can cut through the noise. For BusinessWorld, that has meant rethinking not just how news is delivered, but who it is ultimately for.

“I believe journalism should still be reported and written by humans. AI tools can be used in aid of journalism, like summarization and transcription. However, we have to make sure there is always human oversight and review when it comes to using AI in the newsroom,” Ms. Garcia noted.

“There’s no doubt that Gen AI is disrupting the media landscape. AI is a tool that has the potential to boost productivity of journalists. But I do not think AI will replace journalists.”

At the same time, she pointed out that Gen AI has made it easier to spread misinformation and disinformation over the internet, highlighting the role of integrity and transparency in journalism more than ever to maintain the audience’s trust in the media.

“Generative AI is groundbreaking because it can drastically improve systems and processes on the way we do things in a more efficient and scalable manner. We are right now at the cusp of another major digital transformation because the augmentation of AI into business and media is going to change our behavior and actions. It is therefore important for us to recognize these inevitable changes and how will we manage them,” Mr. Dy Tioco said.

Ms. Sarmiento added that the advent of AI brings with it both exciting opportunities and significant challenges for the industry as a whole. For its positives, she sees AI enabling more personalized content delivery, faster news generation, and innovative storytelling formats. It can also enhance productivity and help media organizations analyze large datasets to better understand audiences.

However, these advancements also raise concerns about misinformation, deepfake misuse, bias in algorithms, and the potential for job displacement. “Overall, AI serves as a powerful tool that, if managed responsibly, can greatly enrich media experiences and democratize information access,” she said.

“It’s very hard to predict exactly what the future holds, but we have an idea of where we’re headed given where we’ve come from and what we’re experiencing today,” Mr. Belmonte said.

“But for the short term, and maybe up to midterm, I think BusinessWorld has the right strategy moving forward. Given what we’ve achieved thus far and the plans we have in line, BusinessWorld will continue to be a force to reckon with.”

At 38, that strategy of being the ever-reliable provider of trusted business and industry news in the Philippines remains tried and true. Towards the nationwide effort of recalibrating the Philippines’ path forward, BusinessWorld’s part has become indispensable.

Even as its platforms evolve, BusinessWorld’s commitment remains the same: to solid and reliable economic journalism that helps the Philippine business community navigate what comes next. Whether in print, on-screen, or through new formats shaped by AI and data, that mission endures.

Charting BWorld’s multimedia future

September 29, 2025 | 12:13 am

By Bjorn Biel M. Beltran, Special Features and Content Assistant Editor

Over the past several years, BusinessWorld has been undergoing a transformation. Much of this shift began in 2015, when The Philippine STAR acquired the business newspaper and began applying its multimedia strategies to a brand that had long relied on its legacy as a print publication.

“When The STAR bought BusinessWorld in 2015, we immediately implemented our multimedia strategies into the paper, which had been bleeding for more than a decade,” Lucien C. Dy Tioco, executive vice-president of BusinessWorld, had said previously. “In just one year, BusinessWorld was taken out of the red by strengthening its hold on the business community and emphasizing the strength of its content.”

This transition involved expanding BusinessWorld’s platforms to reach readers beyond print, including online, social media, podcasts, and events, framing the brand as a holistic business information and insights provider.

Aren Mae M. Cayetano, BusinessWorld social media specialist, described it as a transition leveraged on the brand’s credibility and reputation in the business community.

“Our ability to simplify complex topics and adapt content for our different audiences helps us stay relevant in a noisy online ecosystem,” she said.

These changes positioned BusinessWorld to remain competitive in an increasingly digital-first media environment.

In fact, BusinessWorld is stronger than it has ever been, as President and CEO Miguel G. Belmonte noted in a recent interview.

“BusinessWorld is possibly among the top three now among the print companies in the country,” he said.

“But things are always evolving — technology changes so fast as does the environment — and we also have to evolve and adapt with all the changes that are happening. It’s really very hard to predict.”

Mr. Belmonte expressed his concerns about the uncertainty in a media landscape rife with disruption, but he believes in the current trajectory of the company.

“We really have to build further on our digital presence. There’s a lot of room for growth but exactly how we’re going to achieve that, we’re still searching for answers. That’s why we’re constantly trying and putting a lot of effort and resources into that.”

“We just have to accept that we live in the digital age; and if we want to still exist in the future, we have to be relevant to the new decision-makers in the future. These are the young people now — the millennials, the Gen Zs — so we have to try to get them engaged somehow as readers and future clients. Digital being their world, we just have to be there, too,” he said.

According to Mr. Dy Tioco, BusinessWorld’s continued relevance rests on three factors: its established credibility, its long-standing connection with the business community, and a content strategy aligned with the needs and concerns of that audience.

Ms. Cayetano echoed this sentiment: “We may not be the loudest player in the digital space, but we have carved out a steady, respected presence, particularly among business-minded Filipinos. Our strategy leans more on trust, quality, and clarity than viral tactics.”

This adaptability became especially critical during the pandemic, which accelerated the shift to digital platforms. The paper launched a number of virtual initiatives, including the BusinessWorld Insights series, which began in 2020 as a response to COVID-19’s disruption of the economy and business operations. Insights, which started out in a virtual format, brought together executives, experts, and policy makers for discussions on how industries could adapt to the crisis and what long-term lessons might emerge. The series has since become a continuing platform for in-depth dialogues on topics ranging from healthcare and energy to market outlooks and sustainability.

Alongside Insights, BusinessWorld also launched BusinessWorld One-on-One, an interview series aimed at spotlighting perspectives from industry leaders and government officials. Other event-based initiatives include the BusinessWorld Economic Forum and Forecast, both designed to serve as platforms for strategic discourse between the public and private sectors.

“For all the events that BusinessWorld has mounted, it has been a continuing conversation for all industry sectors that are vital to our economic growth,” Mr. Dy Tioco said. “These events help keep BusinessWorld on track in understanding progress and identifying the issues we still need to address.”

Beyond its growing library of events and video content, BusinessWorld’s Digital Services team has also begun to push the boundaries of how stories are told.

One of its latest innovations includes the launch of interactive parallax-style features, or web-native longform articles designed with scroll-triggered animations, embedded videos, data visualizations, and dynamic layouts.

The first such feature published in 2023 revolved around the “Parol: The Symbol of a Filipino Christmas,” which traced the history and cultural meaning of the iconic Christmas lantern. Another multimedia report the same year, “Letters to the Mountains: A day in the life of a Cordillera mailman,” featured the postal service challenges in the country.

Two other features published in 2024 explored the lives of motorcycle taxi drivers and Manila’s flower trade.

The BusinessWorld B-Side podcast is also going from strength to strength as it establishes itself as a popular source of business and economic information. Recent topics have ranged from the rise of content creation and the shifting algorithms that define it, to debates on amending or revising the Philippine Constitution, to the continued importance of cash on delivery in an increasingly cashless economy, and the ripple effects of US tariffs on global trade.

Building on this direction, the Top 1000 Corporations in the Philippines magazine has since been adapted into a digital platform, Top 1000 Premium (top1000.bworldonline.com), offering subscribers access to a decade’s worth of financial and sectoral data in a searchable and interactive format.

“The first of its kind delivered by a multimedia content provider, Top 1000 Premium… brings all the details you need to know about the country’s leading corporations, conglomerates, and sectors in a seamless and immersive platform,” Mr. Dy Tioco said at its launch during the 2024 Forecast forum.

To complement these initiatives, BWorldX (www.bworld-x.com) stands as the top platform that brings together all of BusinessWorld’s range of digital content, including the exclusive digital magazine BusinessWorld In-Depth, which conducts a deep dive into various industries and issues.

This year, In-Depth featured recent developments in fintech, sustainability, and healthcare. Special editions of digital magazine, meanwhile, also served as means to feature industry-specific events, namely the Trust Consciousness Week, led by the Trust Officers Association of the Philippines, last March and the 33^rd convention of the Bankers Institute of the Philippines last May. Also, Quarterly Banking Reports, initially released in the print issue of BusinessWorld, are also available on BWorldX as special In-Depth issues.

The website also collates all of BusinessWorld’s e-paper editions, Top 1000 Corporations in the Philippines magazine issues, the B-Side podcast, and various event recordings, among others. The platform is designed to provide users with a more organized and accessible experience across BusinessWorld’s offerings.

“BWorldX intends to be a comprehensive and accessible space that allows you to consume BusinessWorld’s content based on your preferences or interest,” Mr. Dy Tioco had said at the platform’s launch in 2022.

Across these efforts, the emphasis has been on expanding BusinessWorld’s utility beyond daily reporting, toward becoming a long-term resource for analysis, insight, and strategic reference.

BusinessWorld Vice-President for Sales and Marketing Jay R. Sarmiento said she envisions BusinessWorld moving beyond just reporting the news in the future, from a traditional publisher to a multifaceted business information and insights platform.

“Leveraging its historical data and industry reputation, I see BusinessWorld deepening its analytics and research capabilities offering more sophisticated and premium reports and data-driven insights. Instead of being just a media company, it can offer consultative services or bespoke reports to help companies navigate complex market challenges,” she said.

Mr. Dy Tioco echoed her vision. As digital technologies move ever forward enhancing everyday living and behavior, so too must media adapt.

“As we approach to 40^th year, we are already working for BusinessWorld’s future by reinventing and redefining its role in the business community, a future where it will be a reference for economic progress and international recognition. Imagine the innovation of its content that will go along with it,” Mr. Dy Tioco said.

BizLife: Timely inspiration for executives and entrepreneurs

September 29, 2025 | 12:11 am

By Mhicole A. Moral, Special Features and Content Writer

For almost four decades, BusinessWorld has earned the trust of corporate executives, policy makers, and entrepreneurs through accurate reporting and detailed analysis. Now, the business newspaper and multimedia content provider goes beyond the daily broadsheet to bring to the Philippine business community not just timely information but also much-needed inspiration.

BusinessWorld has started doing this with the launch of BizLife, a new publication catering to modern business leaders and entrepreneurs. It aims to provide stories and features that go beyond traditional business news, focusing instead on leadership styles, workplace culture, and the ideas shaping the future.

“BizLife is a magazine that showcases the next-generation management and how their mindset will influence the future of business. It is poised to be the BusinessWorld of millennials and Gen Z,” BusinessWorld Executive Vice-President Lucien C. Dy Tioco shared in an email to BusinessWorld.

According to BizLife Editor-in-Chief Katherine L. Magsanoc, the magazine’s concept started from the aspiration of the company’s leadership to revive High Life — a former BusinessWorld title catered to fine living — but turning it into a format that speaks to today’s generation of executives and entrepreneurs.

“The pandemic gave rise to more self-made and brave entrepreneurs across different age groups, and not all have a Business degree,” Ms. Magsanoc observed. “Their stories are also worth telling.”

BizLife intends to highlight a wider view of leadership through stories that combine business and lifestyle, showing both the professional and personal lives of leaders.

“The name itself combines ‘Business’ and ‘Life,’” Ms. Magsanoc said. “We know, for them, business is life. But, we are also sure they have a life outside their business. And we want to tell these stories, too.”

Consequently, BizLife is written with a specific readership in mind. The magazine is aimed, first, at executives at the highest level of their organizations, those whom Ms. Magsanoc described as “the leader’s leader.”

Beyond executives, Ms. Magsanoc adds, BizLife also targets “the changemakers who challenge the status quo, implementing better ideas and processes that drive progress; the visionaries who chart a course for the future, inspiring others to join them on the journey; and the catalysts who push for progress, driving change and inspiring action within their spheres of influence.”

The editor also explained that the goal of BizLife is to let readers see business leaders in a new way. The stories show different sides of executives, beyond what is seen inside offices and boardrooms.

“We hope our readers can get inspired by ideas that can make money but also help others or make the lives of people better. We hope our readers who dream of starting or having their own business find the courage through the stories of success in every page,” Ms. Magsanoc added.

The launch of BizLife is part of BusinessWorld’s effort to connect with audiences who are looking for stories about leadership, innovation, and lifestyle.

Bannering the inaugural issue of BizLife, themed “The Changemakers,” is the next-generation leadership at the Filinvest Group, namely Isabelle Therese Gotianun Yap, vice-president and chief strategy and transformation officer of EastWest and director of Filinvest Development Corp.; and Francis Nathaniel Consunji Gotianun, first senior vice-president of Filinvest Hospitality, who shared how the companies they lead are building a better future for their respective industries and the nation overall.

In the cover story, Mr. Gotianun shared that the most fulfilling aspect of his work at Filinvest Hospitality extends beyond financial success — knowing that the company is helping to make dreams come true.

“There’s something special about creating moments that delight our customers while also supporting communities and jobs around the country,” he said.

Ms. Yap, meanwhile, expressed her passion to create a more inclusive and equitable environment at EastWest and Filinvest where women are not limited by societal expectations.

“I hope that my work inspires more women to feel empowered — we are a meritocratic and resilient organization. We recognize performance and reward for everyone,” she said.

Also featured in the first issue are key people within the MVP Group, among them Belen M. Al-Humayed of Multisys and Bison Management Corp., Menardo G. “Butch” Jimenez, Jr. of PLDT, Jovy I. Hernandez of Metro Pacific Agro Ventures, and Erickson Y. Manzano of Landco Pacific Corp.

Leaders and movers in the Philippine startup ecosystem are also profiled in a story about IdeaSpace Ventures, a pioneering firm in the startup space, with stories and recollections from Executive Director Alwyn Joy E. Rosel, Betterteem Chief Executive Officer (CEO) Bo Discarga, and Flying Tigers Express CEO Shad Roi de la Cruz.

Another highlight from the issue is a first-person account from Athenna Ordoña, the young marketing and corporate communications lead at Multisys, on being a millennial in the boardroom, present at board meetings with PLDT executives, including Manuel V. Pangilinan.

Other executives and entrepreneurs featured in the issue are Eric Puno of Army Navy and Pizza Telefono, Kayla Sayson of mobility business Popcycle Ebike Center, Engr. Marlon Pabustan of Bataan-based Khalimah Handicrafts & Souvenirs, Camille Escudero of femtech company Lily of the Valley, and Kat Erro of homegrown leather brand Katre.

The first issue of BizLife already shows how the magazine intends to move forward, with leaders who are not confined to boardrooms. The magazine highlights that leadership is also about impact, values, and innovation that reach beyond numbers.

Moving forward, Ms. Magsanoc said, the team behind BizLife plans to create multimedia content that will be available on BusinessWorld’s website and other digital platforms. Readers can expect features that connect the magazine to BusinessWorld’s online channels, with the possibility of crossover stories appearing in the main newspaper as well.

Such approach shows how the content provider is responding to the changing habits of its readers, especially as people today look for information in different formats. BizLife offers a bridge between these platforms, allowing the publication to reach more audiences without abandoning its traditional readers.

“We just started, so we will keep doing what we have done in the first issue: celebrate all kinds of leaders in business, and spread the word about the good they do with their business,” said Ms. Magsanoc.

The first issue of BizLife can be purchased at BWorldX. Visit www.bworld-x.com.

Reliable guides in navigating economic activity

September 29, 2025 | 12:09 am

By Krystal Anjela H. Gamboa

In an increasingly volatile global economy, the Philippines sits at a crossroads. On one hand, it benefits from a young workforce and growing digital adoption. On the other, it faces persistent risks: geopolitical challenges, technical and trade disruptions, and inflationary pressures. Business leaders and policy makers have one question in mind: How do we move forward with confidence?

Information is thus crucial for companies, organizations, and industries, as they make their next decisions in moving forward. This comes with awareness of the benefits and consequences of every decision made in the past, improving operational efficiency, enabling them to move forward through innovation.

For almost 40 years, BusinessWorld has guided business leaders in looking for where growth can be found. The Top 1000 Corporations in the Philippines magazine and the Quarterly Banking Reports, published by its Research Department, stand out as essential guides for business firms and banks in the country.

Through providing verified data, executives, investors, and other target readers are equipped with information necessary to glean insights and make decisions.

The annual Top 1000 magazine has long been regarded as a definitive scoreboard for Philippine businesses. It offers more than a ranking of the country’s most competitive industries; it paints a detailed picture of how Philippine businesses navigate economic headwinds.

BusinessWorld’s Deputy Research Head Abigail Marie P. Yraola explains, “The magazine gives an overview of how companies in the country thrive amidst trade disruptions and geopolitical tensions, among others. At the same time, it also shows the overall ‘financial health’ of a company.”

In the 2024 edition of Top 1000, the list revealed remarkable resilience throughout 2023. Despite inflation averaging 6% and gross domestic product growth moderating to 5.5%, the Top 1000 companies grew aggregate revenues by 7.2% to P17.8 trillion, while combined net income surged by 13.3% to P2.04 trillion.

Petron Corp. takes the top spot with P440.6 billion in gross revenue; followed by Meralco with P399.36 billion; BDO Unibank, Inc. with P283.75 billion; Shell Pilipinas Corp. with P256.2 billion; Toyota Motor Philippines Corp. with P216.18 billion; TI (Philippines), Inc. with P181.22 billion; Bank of the Philippine Islands with P166.92 billion; and Globe Telecom, Inc. with P157.04 billion.

Sectoral performances also diverged: the services sector continued to power the economy, contributing 55.2% of combined gross revenues; manufacturing retained its role with P5.76 trillion in revenues; while mining and quarrying posted double-digit declines.

Beyond numbers, the magazine also features a competitor table and sectoral ranking that allow businesses to scale their standing against their peers.

“This part of the publication features how companies dominated their respective sectors based on their gross rankings,” Ms. Yraola explained.

Moreover, the magazine offers detailed insights that can sharpen strategy for companies to reassess their competitive edge through distinguishing between parent-only and consolidated financials.

By showing which sectors thrive and which ones lag, the magazine allows firms to identify new opportunities, benchmark performance against competitors, and help industries and organizations recalibrate their paths with confidence.

Beyond this print publication, the Top 1000 Premium platform (top1000.bworldonline.com) harnesses up to 10 years of Top 1000 data to present how a corporation, a conglomerate, or sector has performed in the previous year, alongside previous years. The content ranges from basic company profiles to comprehensive income statements and balance sheets. Presented in an interactive and user-friendly format, the platform enables subscribers to easily navigate and analyze information according to their needs.

While the Top 1000 highlights corporate performance, the Quarterly Banking Reports (QBR) provide a timely window into the country’s financial institutions.

According to the most recent QBR, shares of banks showcased strong growth in the second quarter of 2025 with the financial subindex climbing by 18.4% by the end of June. Out of 13 listed universal and commercial banks, 11 recorded higher share prices compared with the same period last year.

Top gainers were Philippine National Bank, which rose 142.3%; Asia United Bank, 75.6%; China Banking Corp., 69.9%; Philippine Bank of Communications, 37.6%; and BDO Unibank, 19.2%.

During the first quarter, the combined assets of 44 universal and commercial banks grew 9.5% year on year in the first quarter of 2025 to P26.84 trillion, while total loan portfolios expanded by 13.5%, supported by easing inflation and policy rate adjustments.

Overall, the sector’s financial health improved. Combined net income of universal and commercial banks climbed by 3.1% to P184.46 billion, while total loan portfolios expanded by 11% to P14.7 trillion. Nonperforming loans (NPL) dropped to 3.05% from 3.21% last year, reflecting better asset quality. Margins also improved, with net interest margin at 4.13%. Meanwhile, provisions for credit losses jumped to 68%, reaching P71.81 billion, as banks remained cautious of potential risks.

Beyond financial metrics, each QBR focuses on the most pressing or timely developments concerning the financial space. The most recent edition looked into the latest findings on the spending and saving behavior of Filipino consumers, the impact of the Bangko Sentral ng Pilipinas’ (BSP) rules on regulations for online gambling payment services, and how the Capital Markets Efficiency Promotion Act (CMEPA) is changing the game in the Philippine banking landscape.

The first QBR for this year, meanwhile emphasized the sector’s digital shift, noting regulatory milestones such as the BSP’s guidelines for Virtual Asset Service Providers and the pilot Project Agila on wholesale digital currency to improve interbank payments.

Last year, QBRs highlighted the industry’s investments in cybersecurity, such as BSP’s Anti-Financial Account Scamming Act (AFASA) Law. Under the law, the industry has been strengthening defenses against scams and building more resilient digital platforms. The adoption of neobank models in rural banks and the use of artificial intelligence (AI) in reducing risks and consumer redress mechanisms were also discussed.

By presenting such developments in both numbers and context, the QBRs help businesses anticipate changes in credit conditions, liquidity, and consumer sentiment — critical factors in mitigating risks.

Credibility measures and AI

BusinessWorld’s Research Department upholds strict standards of accuracy, going beyond basic fact-checking. Every dataset is drawn from verified filings, cross-checking against multiple sources through established research protocols.

For Top 1000, stock corporations in the Philippines are ranked and measured based on their gross revenues from the most fiscal year. Metrics include the audited financial statements from the Securities and Exchange Commission for private companies, Commission on Audit for government-owned and -controlled corporations, and the Philippine Stock Exchange for publicly-listed companies.

Meanwhile, through tracking the Statements of Condition (SoCs) from universal and commercial banks, the QBRs track key indicators such as capital adequacy, loan growth, liquidity, and profitability. Discrepancies are clarified together with the banks themselves.

While overreliance on AI raise concerns about information consumption, its true value is shown in its efficiency.

“The use of generative AI can only be of help when we want to maximize the time and maybe [for tasks] such as quick analysis. But it should not be used when we make or generate tables for the Top 1000 and the banking tables,” Ms. Yraola pointed out.

At their very core, Top 1000 and QBRs are not just mere compilations of numbers; they are decision-making tools. For corporate leaders, they point to opportunities for expansion. For financial institutions, they highlight risks and innovations shaping the industry. For policy makers, they provide a factual basis for crafting responsive strategies.

In a time of uncertainty, these publications reaffirm a simple but powerful truth: reliable data leads to more informed decisions; and informed decisions, in turn, build the foundations of sustainable growth for the Philippine economy.

Starting and continuing conversations for the business community

September 29, 2025 | 12:07 am

SF_DSCF1562-OL — This year’s BusinessWorld Economic Forum was held last May 22 at Grand Hyatt Manila in Bonifacio Global City, Taguig.

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

BusinessWorld has been a vanguard of Philippine business journalism since its establishment in 1987. By keeping true to its core values of accuracy and innovation, the oldest business paper in Southeast Asia has grown to become a leading authority in economic and financial reporting as well as a uniting figure for the Philippine business community.

The publication has evolved from a traditional print-based outlet to a trusted multimedia platform accessible through different mediums such as print, online, social media, and podcasts. Beyond these channels, BusinessWorld extends its role into a venue for high-level dialogue that seeps into boardrooms, policy discussions, and strategy sessions across corporations in the Philippines.

Foremost of these community-gathering fora are the Economic Forum and the Forecast conference held every May and November, respectively, coupled with Insights fora held throughout the year.

At BusinessWorld’s Economic and Forecast fora, leaders and decision-makers from both the private and public sectors are brought together to confront economic realities, as well as the gap between the Philippines’ long-standing potential and the progress that has yet to materialize.

“The theme of how to make that promise happen is the common thread of all our BusinessWorld events. Our country has also been tagged internationally as the next big thing, but midway through the 2020s it has never happened. That’s why our intent to push for economic factors to happen is the conversation of this to take the front seat,” BusinessWorld Executive Vice-President Lucien C. Dy Tioco said.

Vice-President for Sales and Marketing Jay R. Sarmiento added that these fora’s key themes consistently focus on the most pressing issues for the Philippine economy and the business community.

“While specific topics vary from year to year, some standout and recurring themes were: digitalization and technology; sustainability and the environmental, social, and governance (ESG) standard; economic resilience and recovery; green economy; and the transition to clean energy,” she explained.

She also emphasized the two fora’s ability to address the most pressing and relevant issues facing the economy, saying that stakeholders’ feedback often points to the discussions being “intelligent and thoughtful” and providing a “deeper analysis” of critical issues.

“A recurring theme in the feedback is the forum’s role in ‘bridging the gap’ between the private and public sectors. The events are valued for providing a venue where policy makers and business leaders can have a direct dialogue, identify pain points, and work together to push for solutions. This collaborative environment is highly appreciated by attendees who are keen on contributing to national development,” she said.

“The caliber of our high-level and influential speakers is the key differentiator… as they provide a rare opportunity for attendees to hear directly from and engage with the people who are shaping policy and business strategy in the country,” Ms. Sarmiento added.

This year’s BusinessWorld Economic Forum was headlined by keynote speakers (counter-clockwise from top) Economy, Planning, and Development Secretary Arsenio M. Balisacan, ASEAN+3 Macroeconomic Research Office Country Economist for the Philippines Dr. Andrew Tsang, and Special Assistant to the President for Investment and Economic Affairs Frederick D. Go.

This year’s Economic Forum, carrying the theme “Unlocking Philippines’ Potential,” gathered policy makers, economists, top executives and business leaders to discuss how the Philippines moves from potential to performance, and from promise to permanence.

The forum was headlined by Department of Economy, Planning, and Development Secretary Arsenio M. Balisacan, who delivered a keynote address regarding “The Philippines at An Inflection Point;” ASEAN+3 Macroeconomic Research Office Country Economist for the Philippines Dr. Andrew Tsang, who offered an external perspective on this current inflection point; and Special Assistant to the President for Investment and Economic Affairs Frederick D. Go, who emphasized points for optimism in the Philippine economy despite all the challenges facing the global economy.

Other topics discussed during the event included “Building an Inclusive and Resilient Future for the Philippines,” “Elevating Energy Transition in the Philippines,” and “Tariffs, Trade, and Trump: How a Second Term Could Hit the Philippines.”

Besides Economic and Forecast fora, BusinessWorld has also captured the attention of the business community, industries in particular, through its regular BusinessWorld Insights events. Recent editions of the series had topics that tackled the country’s healthcare system, stock market outlook, and energy prospects.

Last January, the Insights forum on healthcare featured Emmanuel R. Ledesma, Jr., president and chief executive officer of the Philippine Health Insurance Corp. (PhilHealth), as keynote speaker. Executives and health advocates from Philippine Alliance of Patient Organizations, The Medical City, mWell, Alaga Health, Romlas Health Group, and UP Manila Standards & Interoperability Laboratory were among the panelists.

In February, the Insights event on the Philippine stock market welcomed Department of Finance Assistant Secretary Neil Adrian S. Cabiles, who delivered a keynote address on “Strengthening Market Resilience in the Pursuit of Growth in 2025.” Experts from COL Financial Group, Sun Life Investment Management and Trust Corp., First Metro Securities Brokerage Corp., Unicapital Group, and BDO Securities Corp. shared their outlooks and insights into the local bourse.

Meanwhile, the April installment emphasized that efficiency and conservation are crucial to attaining energy security. National Electrification Administration Administrator Antonio Mariano C. Almeda and Deputy Administrator for Technical Service Engr. Ernesto O. Silvano, Jr. discussed the challenges and opportunities in the energy supply chain. Chiefs from the Philippine Energy Efficiency Alliance and Meralco PowerGen Corp. further explored the aforementioned topic.

BusinessWorld has also captured the attention of the business community, industries in particular, through BusinessWorld Insights.

Last August, BusinessWorld Insights kick-started its three-part Cybersecurity Series with a discussion on how organizations can foster a security-first culture to thrive in today’s high-risk digital environment. Through this series, which will culminate into a Cybersecurity Summit next year, BusinessWorld underscores that safeguarding information, individuals, and organizations in the digital world is just as critical as securing economic growth.

“It needs attention because cybercrime has been increasing year on year which can threaten big and small businesses and eventually the economy. BusinessWorld wants to start the conversation in securing a cybersafe environment with the active involvement of private, government, and the consumer,” Mr. Dy Tioco said.

Building on this urgency, the next phases of the series will gather key voices from both the public and private sectors to dive deeper into the nation’s cybersecurity landscape.

This November, meanwhile, the upcoming Forecast 2026 forum seeks to shed light on the global challenges the Philippine business community should brace for and the prospects to optimize for the year ahead.

The forum intends to help attendees make sense of the shifts that businesses currently undergo — from digital disruption and green transition to demographic shifts among the workforce and consumers.

Top executives are invited to discuss the future of Philippine industries and new opportunities for growth in the midst of disruptions, while industry experts and thought leaders are expected to take deep dives into the macroeconomic outlook, artificial intelligence, the local legal space, and the country’s trade landscape, among others.

As the Philippine business community navigates an ever-changing and often-disruptive landscape, BusinessWorld continues to serve as a reliable guide not only in print or online but on ground.

“Always, BusinessWorld reasserts its mighty clout within the business community, and its unparalleled business intelligence is stronger than ever,” Mr. Dy Tioco said.

Milan Fashion Week: Meryl Streep at Dolce & Gabbana as scenes shot for Devil Wears Prada sequel

September 29, 2025 | 12:07 am

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MILAN — Meryl Streep and Stanley Tucci were on the front row of Dolce & Gabbana’s Milan Fashion Week show on Saturday, in character as magazine editor Miranda Priestly and her art director as scenes were shot for The Devil Wears Prada 2.

Part of the filming for the sequel to the fashion movie will take place in Milan.

Vogue doyenne Anna Wintour, widely considered an inspiration for the Miranda Priestly character, was also at the show to see the models parade in pajama-style trousers and shirts, paired with black lace lingerie or oversized jackets.

Accessories included faux fur bags and slippers and black stiletto heel shoes worn with mid-calf socks.

The new collection by designers Domenico Dolce and Stefano Gabbana, titled PJ Obsession “celebrates the freedom to redefine the boundaries between private and public, between power and seduction,” according to the press notes.

EMPORIO ARMANI
Emporio Armani unveiled on Thursday its first collection since the death of the fashion house’s founder and designer, with models paying tribute to the man known as King Giorgio with long applause during the final walk of the show.

No one came out for the usual designer’s bow, not even Giorgio Armani’s niece Silvana, who always worked alongside him in creating the womenswear collections.

Some in the audience had tearful eyes.

Mr. Armani, who died on Sept. 4 aged 91, worked on the brand’s collection until the very end of his life, the company said earlier this month, when they confirmed the shows at the Milan fashion week.

Emporio Armani’s spring-summer collection, titled “Returns,” was dominated by neutral tones, airy garments and multicultural inspirations. (Watch the show here: https://tinyurl.com/yu3vd3cs)

“The collection is born from the desire to capture the impulse and shifting sensations that accompany a return to the city, after a journey,” the brand said in notes for the press.

Earlier on Thursday, Italian fashion house Prada presented a collection titled “body composition,” designed by Miuccia Prada and Raf Simons, which included uniform-style outfits and evening wear in a juxtaposition of contrasting elements.

“There are radical reconsiderations of the fundamental properties of clothes — skirts find their points of suspension from the shoulder, brassieres have shape without structure,” they wrote in the notes. (Watch the show here: https://tinyurl.com/mrxttetf )

FENDI
Italian luxury brand Fendi unveiled its Spring/Summer 2026 collection on Wednesday, featuring both floral designs and geometric patterns in a broad range of colors. (See the show here: https://tinyurl.com/59uy5khz)

Models walked through Fendi’s Milan headquarters, where the runway was set in a large space filled with multicolored blocks, creating a pixel-like backdrop that echoed the collection’s mix of textures and shades.

At Fendi, which was founded in Rome in 1925 and is now part of French luxury conglomerate LVMH, designer Silvia Venturini Fendi presented both the menswear and womenswear lines, saying a “shared spirit” was behind both.

It’s about a relaxed and colorful sense of ease with a romantic elegance,” she said in the press notes.

The color palette ranged from white to turquoise and bright red, along with softer pastel tones.

Also Italian fashion house Missoni presented its summer collection on Wednesday in Milan, to be followed by Etro later in the day.

GUCCI
Gucci kicked off Milan Fashion Week on Tuesday by breaking the mold: In a short dramatic film, Demi Moore, Edward Norton, and other actors wore designs by new creative director Demna as French parent company Kering seeks to revive the century-old Italian label.

The story, set in a birthday dinner celebration, replaced the traditional live runway walk.

Kering is banking on Demna, who transformed Balenciaga’s austere image to incorporate pop culture, to bring his magic to its flagship label Gucci, which accounts for the bulk of its profits, after two years of sliding sales to accelerate its recovery.

Inside Palazzo Mezzanotte, which houses the Milan stock exchange, Gucci screened The Tiger, co-directed by American Spike Jonze and Dutch Halina Reijn, and starring Ed Harris, among other actors. (Watch the movie here: https://tinyurl.com/mtve93zy)

Models draped in Demna’s new “La Famiglia” collection, including opulent fur coats and deeply plunging shirts, sat in the front rows of the makeshift movie theater.

Ms. Moore, the film’s protagonist, watched in a gleaming golden dress from the velvet seats.

“There’s only Gucci in my head,” Demna told journalists in brief remarks at the event, describing his Gucci debut as part of his process to redefine the house’s stylistic codes.

In a surprise, Gucci showed images of the Georgian designer’s styles on Instagram on Monday, ahead of Tuesday’s screening in a bold attempt to grab attention at the start of a packed fashion show season.

New Kering Chief Executive Officer (CEO) Luca de Meo, chairman and controlling shareholder Francois-Henri Pinault and newly appointed Gucci CEO Francesca Bellettini also attended the event.

Demna’s first catwalk show will be held in February. — Reuters

MGen weighs REIT option to raise funds for projects

September 29, 2025 | 12:06 am

bongabon-power-plant-solar panel — MGREEN BONGABON SOLAR in Barangay Pesa, Bongabon, Nueva Ecija. — MERALCOPOWERGEN.COM.PH

MERALCO POWERGEN CORP. (MGEN) is considering tapping the local capital market through a real estate investment trust (REIT) listing to raise funds and support its projects, its president said.

“It’s one of the options,” MGEN President and Chief Executive Officer Emmanuel V. Rubio said when asked if the company is exploring a REIT listing, speaking to reporters on Sept. 18.

A REIT is a company that owns or operates income-generating real estate assets, with a listing allowing companies to raise funds by selling shares of these assets to the public.

The possible move comes alongside the planned listing of its renewable energy unit MGEN Renewable Energy, Inc. (MGEN Renewables), which is targeted for the second half of 2026. This may involve transferring assets to its affiliate SP New Energy Corp. (SPNEC).

“We’re just beefing up MGEN Renewables with more land… We feel that the right timing is that when we deliver the first phase of Terra Solar — that’s when investors and the public will know that we’re capable of delivering on our promise,” Mr. Rubio said.

MGEN operates a portfolio of power generation assets with a total net sellable capacity of over 5,068 megawatts (MW) from both conventional and renewable sources.

The company expects to double its capacity to 10,346 MW by 2030 through growth projects such as the MTerra Solar Project.

The P200-billion MTerra Solar Project, being developed by a unit of SPNEC, consists of a 3,500-MWp solar facility and a 4,500-megawatt-hour (MWh) battery energy storage system in Nueva Ecija and Bulacan.

Once completed by 2027, the project is expected to supply clean energy to about 2.4 million households and avoid an estimated 4.3 million tons of carbon emissions annually.

Alongside this development, MGEN and SPNEC are also preparing for another project that will house a 1,500-megawatt alternating current (MWac) solar farm and up to 900 MWh of battery energy storage.

“We are looking at land for Terra Solar 2. If that about 450 hectares that we bought in Nueva Ecija will form part of Terra Solar 2, then let it be. The thing is, I don’t think Terra Solar 2 has to be in one location,” Mr. Rubio said.

MGEN, a subsidiary of power distributor Manila Electric Co. (Meralco), is expected to provide higher earnings contribution with the entry of MTerra Solar, the executive said.

“I believe that’s going to go a bit higher. But the goal really is not to be as close as we can to the distribution utility’s earnings, but to make sure that we contribute to the overall sustainability strategy of Meralco,” Mr. Rubio said.

Meralco’s controlling shareholder, Beacon Electric Asset Holdings, Inc., is partially owned by PLDT Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Sheldeen Joy Talavera

L’Oréal partners with TESDA

September 29, 2025 | 12:06 am

L'Oreal-partnership-event-photo-3 — L’ORÉAL

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BEAUTY conglomerate L’Oréal has been known for its Beauty for a Better Life program: the global initiative that helps people around the world enter the beauty industry. In the Philippines, under the program, it partners with local government units to teach skills to the underprivileged. On Sept. 24, at their headquarters at the Podium West Tower, the L’Oréal Academy announced a partnership with the Technical Education and Skills Development Authority (TESDA), promising to scale up the company’s reach throughout the Philippines.

The partnership concerns the government body, the beauty conglomerate, and corporate social responsibility (CSR) organization Philippine Business for Social Progress (PBSP). Under this partnership, L’Oréal Philippines will share beauty expertise and resources with TESDA to elevate and update the Hairdressing NC II Certification. Through training, Filipino hairdressers will be equipped with the latest hair trends and techniques and gain specialized skills to improve their craft. The updated program will also introduce the L’Oréal Color Certification — a global program designed to help hairdressers become colorists with internationally recognized skills.

Hassan Khan, general manager for L’Oréal’s professional products division in the Philippines, said in a group interview that their participation involves three things: their provision of the updated global curriculum for TESDA, use of L’Oréal products, and use of the headquarters’ academy. “We’re also providing this facility. If TESDA ever wants to use this facility, we’re also open to share that,” he said.

As part of the partnership between L’Oréal Philippines, TESDA, and PBSP, at least 50 new aspiring hairdressers will be trained this year. “This partnership demonstrates how skills development can unlock opportunities,” said Jose Francisco Benitez, secretary and director general of TESDA, in a statement. “Hairdressing is not just about styling — it is culture, livelihood, and dignity. Through this partnership with L’Oréal Philippines and PBSP, we are not only enhancing our Hairdressing NC II program to meet global standards but also empowering women, out-of-school youth, and underserved communities to turn their skills into sustainable careers. Together, we are raising the bar for the profession and giving every Filipino hairdresser the opportunity to compete on the world stage.”

Mr. Khan said that more than a corporate social responsibility program, it’s also an opportunity to change the entire beauty industry in the country. “We don’t see it as a CSR program. We think that it’s important for the existence of our industry: to really continue the growth opportunities and provide the right skillsets to our salon partners.

“As a market leader, it’s our role to uplift the overall industry,” he said.

More than the training itself, they’re also providing for future employment of the people who graduate from the program: providing internships at their partner salons, for example, but also: “What we’re also doing is track their progress and linking them to our salon partners.”

Since 2017, Beauty for a Better Life has empowered 524 Filipinos from Antipolo, Mandaluyong, Manila, Marikina, Pateros, Quezon City, and Taguig. With this new partnership, “Together, we can really reach out to people from different vicinities and different regions, and not just Metro Manila,” said Mr. Khan. — J.L. Garcia

Q&A: ‘We will not stop educating people about EVs’

September 29, 2025 | 12:05 am

VELO_PAGE1_image1 — Mr. Palanca aboard a Fangchengbao SUV at BYD’s Di-Space Museum in Zhengzhou — PHOTO BY KAP MACEDA AGUILA

BYD Cars Philippines Managing Director Bob Palanca on what to expect from the ‘new energy vehicle’ leader

Interview by Kap Maceda Aguila

IN THE ERQI District of Zhengzhou stands Di-Space, BYD’s first “national new energy vehicle science museum.” The facility not only tells of and encapsulates the auto industry’s tale as a whole but is a deep dive into the innovations and technologies that have marked the journey-to-date of the world’s leading new energy vehicle brand.

It is verily a curious juxtaposition of old and new. Zhengzhou is the capital of Henan Province located on the east-central mainland, and is said to boast history dating back to the Neolithic times and was a former ancient Shang dynasty stronghold. Di-Space is now projecting the type of cutting-edge work being done on BYD vehicles and their components — along with specimens from its affiliate marques Denza, Fangchengbao, and Yangwang.

BYD said it sunk nearly CNY200 million into establishing the four-storey, 15,000-square-meter facility (with an additional 8,500 square meters of outdoor support), which marks “an important step for BYD in the field of science education and cultural promotion of new energy vehicles.”

Speaking in front of a long-wheelbase, three-row luxury SUV Yangwang U8 (just launched this month in China), BYD Cars Philippines Managing Director Bob Palanca exclusively spoke with “Velocity” on the sidelines of last week’s BYD 2025 Philippine Media Driving Experience Day (more reportage coming soon). BYD, through local distributor ACMobility, has already established 40 dealerships in the country, and previously declared an intent to grow the network to 77 locations by yearend.

Here are excerpts from our exclusive interview.

VELOCITY: Can you share with us the message that BYD wants us to take away from our experiences in the global headquarters in Shenzhen and Di-Space in Zhengzhou? What does BYD want to convey to customers and would-be customers in the Philippines?

BOB PALANCA: We are a technology company. Our brand is not just building cars; it’s building the future — from our Blade battery, to our platforms, to our extensive technologies being offered. And BYD is not stopping. That’s the reason why there are over 120,000 engineers across the world developing technologies for BYD’s customers to experience.

Please comment on the state of BYD’s business in the Philippines.

As mentioned during our announcement last April, we’ve released a total of 10,000 vehicles from the very beginning, and we see it as a very significant volume. We’re very happy that the market has accepted BYD — its technologies and complete lineup from our BEVs (battery electric vehicles), from the Seagull, the eMax 7, the Dolphin, the Atto 3, the Seal, the Han and the Tang, to our PHEV models: the Sealion 6, the Sealion 5, the Seal 5 Premium and Dynamic, and the Shark 6. So we’re quite happy that the market has positively accepted our vehicles and technology.

At BYD, we’d like to cater to each and every segment. To date, we already have released a total of 12 models, 12 new energy vehicles since the very beginning. And we’re not stopping. We will ensure that we get to cater to each segment in the Philippine market.

Are more buyers or browsers cognizant of EVs?

The awareness of our consumers is increasing, I would say, rather quickly. A lot of car buyers in the Philippines are actually already aware of the BEV technology that BYD has, but we are not going to stop helping everyone — to educate people and tell the story about EVs (including) what benefits they can get, how they can save on the long term and, more importantly, save the environment as well.

As we progress toward the end of the year, ACMobility also is on track to release a total of 700 charging points across the Philippines that will help EV adoption (happen) faster. That’s our main objective, and we will not stop in continuously sharing more information and educating the market on the benefits of EV ownership.

How does BYD as a brand fit into the Ayala Group’s vision toward carbon neutrality in its operations? How are you leveraging your affinity or your membership in this group to give BYD sort of a leg up in terms of pushing it to the customers?

Actually, it’s a match made in heaven. I would say that the mission and objectives of Ayala, ACMobility, as well as BYD, are aligned and are moving forward rather quickly in order for us to be able to tap more of the Philippine market. Using Ayala synergies, we work closely with different groups because even Globe has a separate commitment in terms of sustainability efforts; same goes with Ayala Land and others.

So there’s an alignment within the Ayala Group?

Definitely, from the purchase of vehicles, to infrastructure, to overall sustainability of the entire group.

The rollout pace of BYD models has been brisk. Do you think that this synergy realized in the Ayala Group also benefits your sales goals in over the long term?

I think it could be a win-win for everyone within the Ayala Group. I think it’s beneficial for everyone (allowing us) to move faster and quicker. That’s happening today.

Marriott to open 3 new hotels in PHL in November

September 29, 2025 | 12:05 am

Fairfield — FAIRFIELD by Marriott Cebu Mactan — MARRIOTT.COM

By Beatriz Marie D. Cruz, Reporter

AMERICAN hospitality group Marriott International, Inc. is set to add three properties to its Philippine portfolio this November, with openings in Mandaluyong, Batangas, and Cebu.

“We have three additions to the portfolio in the month of November, taking us to 13 open and operating hotels,” Bruce Winton, area general manager – Philippines at Marriott International, told BusinessWorld on the sidelines of the Arangkada Forum last week.

Mr. Winton was referring to AC Hotel Ortigas in Pasig City, which will have 150 rooms, and Fairfield by Marriott Cebu Mactan, with 196 rooms.

AC Hotels, Marriott’s upscale business hotel brand, has over 150 hotels worldwide. Fairfield by Marriott, in the upper-midscale segment, has more than 1,000 properties globally.

Marriott is also scheduled to reopen The Farm at San Benito this November, rebranding the property as the Philippines’ first Autograph Collection resort.

The relaunch of the eco-luxury medical wellness resort was formalized through a partnership between Marriott and Nepal-based CG Hospitality Global, the companies announced in May.

The Autograph Collection, Marriott’s premium hotel brand, has a portfolio of over 100 upscale hotels globally.

Mr. Winton remains optimistic about Marriott’s performance in the Philippine market, noting year-on-year growth in revenue per available room.

He also cited strong demand at Marriott properties in key tourist hubs such as Metro Manila, Clark, Pampanga, and Cebu.

The company expects robust growth in the fourth quarter through January next year, amid the holiday season.

“Filipinos do everything in the fourth quarter, right? So, we’re looking forward to a very robust three-month period for us,” Mr. Winton said.

“We’d like to capitalize on the high occupancy that we have and capture more share and more bookings in our restaurants.”

Marriott has a portfolio of over 1.7 million rooms across 9,500 properties worldwide.

In the Philippines, it operates hotels and resorts under brands including Sheraton, Westin, JW Marriott, Courtyard by Marriott, and Four Points.