Author: Nouman Ali

An unexpected power interruption affected parts of Olongapo City on Thursday after a snake came into contact with electrical equipment at a local substation.

In an advisory, Olongapo Electricity Distribution Company (OEDC) reported that the reptile had climbed onto a gantry structure within one of its substations.

The animal’s contact with energized components caused a line-to-ground fault, prompting protective systems to activate and automatically shut down the affected power feeders, the OEDC explained.

The shutdown, while disruptive to residents and businesses, was a safety measure designed to prevent further damage to the electrical network and ensure public safety, it added.

Utility personnel immediately responded to the incident, clearing the obstruction and conducting necessary inspections before restoring power to the affected areas.

OEDC confirmed that electricity service has since been fully restored.

The company apologized for the inconvenience caused by the sudden outage and expressed appreciation for the public’s patience and understanding.

Total insured deposits in the banking system posted a double-digit growth in 2025, which state-run insurer Philippine Deposit Insurance Corp. (PDIC) attributed to expanded protection for depositors.

PDIC data showed insured deposits had climbed to P5.2 trillion last year, an increase of P1.5 trillion, or 40.9 percent, from P3.7 trillion in 2024.

The agency said most of the gain stemmed from the doubling of maximum deposit insurance coverage to P1 million from P500,000 on March 15, 2025. This policy shift accounted for P1.3 trillion, or 86.1 percent, of the rise.

Fully insured accounts increased to 169.2 million at end-2025, up 20.9 percent from 140 million a year earlier, representing 98.8 percent of all deposit accounts nationwide in the Philippines.

Total deposits

Total domestic deposits reached P21.7 trillion at year-end, rising 7.1 percent, or P1.4 trillion.

Individual depositors drove the expansion, contributing P812.1 billion, or 56.4 percent of the increase, followed by private corporations with P334.8 billion, or 23.2 percent.

‘This sharp increase not only reflects sustained public confidence in the banking system but also signals a significantly stronger financial safety net for depositors,’ the PDIC said.

The PDIC has tapped the World Bank to study the possibility of implementing a ‘risk-based’ pricing mechanism for fees that banks pay to insure deposits, in a bid to deter lenders from making risky investment moves.

Premium cost

At present, the PDIC collects a flat annual rate of one-fifth of 1 percent of the total deposit liability of a bank. Lenders pay the state insurer so that depositors can be reimbursed up to a certain amount if a bank is ordered closed by the Bangko Sentral ng Pilipinas (BSP).

But the PDIC also has five years from 2022-the year its revised charter took effect-to conduct a study on the need to establish a risk-based assessment system, which could result in higher premiums to be paid by banks that engage in riskier investment activities.

The result of the study will have to be reported to Congress.

BSP Governor Eli Remolona Jr. earlier said that beefing up the protection for bank deposits would unlikely create a moral hazard, as he stressed the need to make the local deposit insurance system ready for systemic risks.

MREIT Inc., the real estate investment trust of developer Megaworld Corp., reported a record P1.25-billion distributable income in the first quarter, up 34 percent, driven by portfolio expansion.

In a disclosure on Thursday, MREIT said its revenues rose 29 percent to P1.72 billion, while net operating income margin improved to 81.6 percent from 80.3 percent a year earlier.

The growth was fueled by the full-quarter impact of its Wave 4 acquisition, including the P16.2-billion property-for-share swap completed in March.

The deal added nine Grade A office buildings in McKinley Hill, expanding gross leasable area by 34 percent to about 647,000 square meters (sq m).

MREIT said the enlarged portfolio improved operating efficiencies and earnings, with income contribution recognized starting January this year.

The company is now preparing for Wave 5, which will introduce retail assets and support its target of 1 million sq m of gross leasable area by 2027.

Customers of Manila Electric Co. (Meralco) can expect a bigger rebate as regulators ordered the swift implementation of P14.17-billion remaining refunds beginning May, as Filipinos reel from rising prices due to the Middle East war.

Based on a document posted on its website, the Energy Regulatory Commission (ERC) directed the Manuel V. Pangilinan-led firm to hasten the rollout of the remaining refunds out of the original amount of P19.96 billion.

This is part of an earlier order that declared July 2022 to December 2024 as a lapsed period.

The true-up calculation shows the gap between Meralco’s actual weighted average tariff and the regulator-approved rate for the period under review.

The refund program started a year ago, initially covering P5.8 billion at a rate of P0.1189 per kilowatt hour (kWh).

Now, the ERC has mandated a higher average refund rate of P0.2511 per kWh.

Residential customers, in particular, will see a reduction of P0.4278 per kWh.

Immediate relief

‘By expediting the refund, we are providing more immediate relief to Meralco consumers, particularly in the face of rising electricity costs driven by global and domestic factors,’ ERC chair and CEO Francis Saturnino Juan said in a statement on Wednesday.

‘The true-up mechanism is a safeguard embedded in our regulatory framework, ensuring that tariffs remain cost-reflective and reasonable at all times,’ he added.

The ERC said the remaining amount would be refunded over a shorter period of 12 months instead of the original 36 months.

According to the ERC, the refund will be under a separate line item in their power bills, allowing consumers to check the amount being returned to them.

In February, Meralco sought regulatory approval for a capital spending of P272 billion for a five-year period, or until 2030.

Rate reset

Under a rate reset process, a regulated entity such as Meralco must submit to the ERC its spending and proposed projects over a certain period, usually five years, unless extended by the regulator. This will then be the basis of the rate that will be passed on to consumers.

Meralco is the country’s biggest power distributor, delivering electricity to over 8.2 million consumers in Metro Manila and nearby provinces, including the municipalities of Sto. Tomas, Batangas City and San Pascual.

Nickel Asia Corp. (NAC) is venturing into Kazakhstan by acquiring a 20-percent stake in a company with interest in a copper mine, seeking to expand its footprint across Asia.

The listed mining company signed an agreement with Silk Road Resources Ltd., a private entity incorporated under the Astana International Financial Centre (AIFC), a financial hub in Astana and East Copper Production LLP.

NAC did not disclose the acquisition cost when asked for additional information, but only said the deal involved acquiring a 20-percent stake in East Copper, the sole legal and beneficial owner of GRK MLD LLP.

GRK, in turn, holds subsoil use rights for the Karchiga copper mine in Kazakhstan. The copper deposit is situated within the Central Asian Orogenic Belt, a globally recognized highly mineralized metallogenic domain.

GRK has an annual production capacity of 8,500 tons of copper sulfide concentrate and 2,000 tons of copper cathode.

Robust industry

Data from the AIFC showed that Kazakhstan’s mining sector contributed more than 12 percent of the country’s gross domestic product, amounting to 16.1 million Kazakhstani Tenge. It accounted for one-third of exports.

AIFC also noted that Kazakhstan is one of the world’s top 10 copper producers, holding a market share of 3.2 percent.

NAC said the transaction supports a broader goal of diversifying its business and growing its presence across the region.

‘This investment supports the company’s strategy to expand market capitalization and earnings by evolving beyond nickel into a diversified natural resources development platform with a growing presence across Asia,’ the firm said in a disclosure on Wednesday.

Due diligence

The sale is subject to the completion of the due diligence on East Copper and GRK, along with other closing conditions and the necessary regulatory approvals.

NAC reported an attributable net income of P6.27 billion in 2025, a 312 percent surge from a year ago, due to strong export prices and higher sales.

Revenues from saprolite and limonite ore rose by 39 percent to P27.25 billion.

As of last week, according to the latest reports from the Overseas Workers Welfare Administration (Owwa) and the Department of Migrant Workers (DMW), 6,532 overseas Filipino workers (OFWs) and their dependents have been repatriated from the Middle East, due to the region-wide turmoil caused by the United States and Israel’s war against Iran.

That may seem like a small drop in the total number of Middle East-based OFWs-an estimated 2 million-plus-but the Owwa and DMW expect that many more Filipino workers will seek repatriation in the coming weeks and months as the region continues to simmer.

The returning OFWs mostly come from countries such as Kuwait, the United Arab Emirates, Lebanon, Qatar, and Bahrain, as well as Israel. With Iran attacking neighboring countries in retaliation for what it perceives as their support for the US and Israel’s aggression, the entire region has been dragged into the conflict, with the effects on the global economy projected to linger for years to come.

Whatever happens in the Middle East has particularly stark implications for the Philippines. Not only has the war’s disruptions on oil and commodity shipments triggered painful spikes in the prices of fuel and goods in the local market, but if the conflict stays unresolved or, worse, escalates, the potential displacement of hundreds of thousands of OFWs presents a vastly more consequential problem.

Critical lifeline

The war has been an ‘unprecedented shock’ for the region’s economies, as the International Monetary Fund put it, with five of the Gulf’s eight oil- and gas-producing countries-Bahrain, Iran, Iraq, Kuwait, and Qatar-headed for a contraction in their gross domestic product this year. The three major producers in the group-Saudi Arabia, the UAE, and Oman-will be able to stay above water but with markedly slower growth.

Those five most affected countries alone host approximately 500,000 to over 600,000 Filipino workers. They now face the prospect of being sent home, if not because of the direct destruction of their workplaces and accommodations, then from potential widespread job layoffs as their host countries’ economies reel from the conflict.

In the immediate term, the Philippines stands to lose, or at least receive much less of, some $6.5 billion in remittances-about 18 percent of the country’s total remittance earnings-sent by OFWs from the region. These funds primarily drive household consumption, keeping Filipino families afloat by giving them cash for daily needs, education, health care, and other immediate concerns. One shudders at the idea of millions of Filipino homes suddenly losing this critical lifeline.

Reintegration program

The United Nations Development Programme has warned that up to 32.5 million additional people worldwide could be pushed into poverty because of the war. In the Asia-Pacific region, that would be some 8.8 million people. In the Philippines specifically, due to the cascading effects of higher fuel prices alone, around 1.34 million Filipinos are at risk of falling into poverty, according to the Philippine Institute for Development Studies.

Against this urgent backdrop, the administration now has its hands full squeezing and reprioritizing the budget to address the immediate needs of those hardest hit by the fuel shock, such as transport drivers and delivery workers.

Displaced OFWs are another sector that requires quick assistance, and the Owwa has requested an additional P12-billion budget for the repatriation and reintegration of these workers.

Owwa said its initial emergency repatriation funding amounted to only around P1.286 billion, of which over P700 million has been spent. About P9 billion of the requested P12 billion in extra funding will pay for more emergency repatriations, including immediate financial assistance to affected OFWs. The remaining P3 billion will be for their reintegration program covering livelihood assistance, skills training, business loans for start-up ventures, counseling, and financial literacy training.

Monumental challenge

The agency has estimated that, should the war not ease up, some 60,000 OFWs may end up being forcibly uprooted from the Middle East. That is a staggering number that the country has to prepare for-not only in terms of quick funding, such as the additional allocation that should be given Owwa posthaste, but also in the work of resettling these Filipino workers in their homeland with dignity, and eventually harnessing, or upgrading if need be, their skills and know-how.

The Marcos administration has a monumental challenge in its hands in making sure such reintegration efforts do go somewhere. Are conditions in the country becoming viable enough for returning OFWs to decide to stay for good-to build a business, or work in a local firm, and generally take their chances on the home front? Or would they feel that the country, after all this time, has yet to get its act together-that better prospects remain abroad, even in the face of war and uncertainty?

Actor Song Joong-ki made his first official public appearance alongside his wife Katy Louise Saunders, as the couple took the classical music stage together as narrators.

The couple appeared at Gaon Soloists’ seventh regular concert, titled ‘Kinderszenen,’ held on April 18 at the IBK Chamber Hall of the Seoul Arts Center, according to a YouTube video posted by the ensemble on Tuesday. The chamber group, which brings together musicians with and without disabilities, organized the event to mark the 46th Day of Persons with Disabilities.

During the performance, Song and Saunders served as narrators for the opening segment, reading a passage from Camille Saint-Saens’ The Carnival of the Animals, specifically ‘Introduction and Royal March of the Lion.’

In the video, Saunders begins the narration in English, followed by Song in Korean, as the two sit side by side on stage. Their reading, which lasted about one minute, conveyed a message about courage, loyalty and compassion, before giving way to the musicians’ performance.

The appearance marks the couple’s first official joint public engagement since their marriage. The two were introduced through mutual acquaintances in 2021 and registered their marriage in 2023, the same year they welcomed their first son. Their daughter was born in November the following year.

Former House Speaker and Leyte Rep. Martin Romualdez is still in the Philippines, according to his lawyer and spokesperson Ade Fajardo on Thursday.

In a statement, Romualdez’ camp acknowledged the precautionary hold departure order (PHDO) issued by the Sandiganbayan despite getting clearance from House Speaker Bojie Dy to travel to Singapore for a ‘long-overdue’ four-day medical check-up.

‘At the outset, we categorically clarify: Rep. Romualdez is in the Philippines and has not left the country. Any report or insinuation that he has fled is false and irresponsible,’ Fajardo stressed.

‘Rep. Romualdez followed the proper process. He sought and secured the necessary travel authority, and coordinated in good faith with the Department of Justice and the Bureau of Immigration,’ he added.

The Sandiganbayan issued the PHDO on Romualdez on Wednesday night, after a request by the Office of the Ombudsman to keep the ex-House leader in the country amid an investigation into his alleged involvement in the 2025 budget mess and the infrastructure corruption scandal.

‘Unfortunately, [Romualdez’ travel to Singapore] has been twisted to create a prejudicial narrative that he intended to flee,’ Fajardo maintained.

‘We will avail of all appropriate legal remedies to question the issuance of this order before the proper forum,’ he added.

The PHDO stemmed from a complaint-affidavit filed last Monday by the Ombudsman’s special panel of investigators to its Preliminary Investigation, Administrative Adjudication and Monitoring Office (PAMO).

In a statement on Wednesday, Fajardo said of the purported complaint, ‘We have not received any official copy of the alleged complaint from the Office of the Ombudsman.’

He added that their camp categorically and unequivocally denied any wrongdoing; and stressed that Romualdez ‘acted at all times within the bounds of [the] law.’

‘We expect due process to be observed. Once formally furnished, we will respond fully before the proper forum,’ Fajardo also said.

As the Philippines’ leading microfinance services provider, Cebuana Lhuillier has witnessed how financial inclusion continues to evolve alongside the realities of everyday Filipino life. For many, financial participation does not begin with investments or formal banking relationships-it starts with immediate needs: access to liquidity, the discipline to save, the ambition to grow a business, and the ability to protect what has been built over time.

Sa Cebuana Lhuillier, Goods Ka: Advancing Financial Inclusion Through a Connected Financial Ecosystem

Today, the challenge for financial institutions goes beyond expanding access. It lies in ensuring that financial solutions are interconnected-allowing individuals to move forward progressively as their needs evolve.

This perspective anchors Cebuana Lhuillier’s integrated financial ecosystem and reinforces the promise behind Sa Cebuana, Goods Ka. The assurance is not built on a single service, but on the ability to support customers across multiple financial needs through solutions that are accessible, relevant, and responsive at every stage of their journey.

‘Our goal is to build an ecosystem that supports Filipinos wherever they are in their financial journey,’ said Jean Henri Lhuillier, President and CEO of Cebuana Lhuillier. ‘Financial inclusion becomes more meaningful when customers and businesses can move from addressing immediate needs toward achieving long-term stability and growth.’

Financial inclusion today requires more than entry into the formal financial system-it requires continuity. Access to credit must lead to opportunities for saving. Entrepreneurs need not only capital, but also guidance and protection. Families building assets benefit from pathways that help them preserve and grow value over time.

With this progression in mind, Cebuana Lhuillier has developed an ecosystem designed to support customers as their financial needs expand. This is enabled by a nationwide network of over 3,500 branches and 25,000 partner outlets, alongside more than 3 million global touchpoints across the United States, the Middle East, Europe, and Asia Pacific. This reach continues to broaden access to formal financial services, particularly in underserved communities.

For many Filipinos, the journey begins with bridge financing. Pawning, small loans, and remittance services provide essential liquidity, helping households manage daily financial pressures while avoiding informal lending channels. These services serve as critical entry points into the financial system, allowing customers to build confidence and capacity for future financial decisions.

As financial behavior matures, savings naturally follow. Through Cebuana Lhuillier Bank, customers can access savings products that encourage discipline and gradually build financial buffers-strengthening resilience against unexpected disruptions.

For entrepreneurs, inclusion must extend beyond access to capital. Through the Cebuana Lhuillier KaNegosyo Center, micro and small enterprises receive not only loans, but also coaching and business advisory support to enhance operations and enable growth. Given the vital role of SMEs in driving local economies, ensuring that financial systems remain responsive to their needs is essential.

Financial protection further strengthens this ecosystem. Through Cebuana Lhuillier Insurance Brokers, customers and businesses gain access to insurance solutions that safeguard income and assets, helping preserve financial gains even in times of uncertainty.

Beyond protection, financial inclusion increasingly involves enabling asset-building. Accessible investment options such as microinvest, Cebuana Lhuillier Jewelry, and Cebuana Lhuillier Gold provide practical and familiar ways for Filipinos to begin building long-term value.

Taken together, this ecosystem approach ensures that financial tools evolve alongside the people they serve. It recognizes that financial journeys are rarely linear, and that priorities shift with changing circumstances. By keeping solutions connected, customers can continue progressing without having to navigate unfamiliar systems or face new barriers to access.

In this way, financial inclusion moves beyond simply enabling entry-it supports sustained progress. This continuity gives real meaning to the promise Sa Cebuana, Goods Ka-because when financial systems are designed to move with people, progress becomes not only possible, but more achievable for more Filipinos.

Sarah Geronimo, through her production unit, denied speculation that she is planning to enter politics after a viral video showing her asking fans to ‘vote’ for her.

In a statement on Wednesday, April 22, G Productions, founded by Geronimo and her husband Matteo Guidicelli, addressed circulating clips that fueled online buzz about the actress-singer’s possible election bid, or if she were campaigning for her namesake, Vice President Sara Duterte, who has expressed her intention to run for president in 2028.

‘We have seen a few clips making the rounds suggesting that Sarah is gearing up for the next election, or at least testing the waters,’ the company began.

The production company clarified that the moment was taken out of context, explaining that the video came from a live event where the singer made a playful remark during her closing spiel.

‘For context: the video came from a live event where, as part of her closing spiel, Sarah playfully asked the audience to vote for her in the next election,’ the statement continued. ‘It was a lighthearted moment meant purely for fun and crowd interaction.’

G Productions stressed that Geronimo has no political plans at present, emphasizing that she remains focused on her career as a performer.

‘Sarah is exactly where she wants to be – on stage, doing what she loves, and inspiring people through her talent and artistry,’ it said, urging the public to ‘enjoy the moment for what it was and resist adding any political color to an onstage joke.’

The clarification came after a clip circulated online showing Geronimo telling the audience at Earth Day Run 2026, ‘iboto niyo po ako sa susunod na election,’ prompting speculation that the pop star might be considering a political run, or quietly endorsing Duterte.

Geronimo has been making headlines after she consistently slammed and expressed frustration with the alleged corruption in the government linked to flood control projects.

But while she has remained neutral in her political views, her husband Matteo has been associated as supporter of Duterte’s father, former Pres. Rodrigo Duterte through his involvement as an Army reservist, and when he openly expressed admiration for the former Chief Executive.

The elder Duterte is currently incarcerated in the Hague, Netherlands and is facing trial for crimes against humanity in connection with alleged thousands of extrajudicial killings that were committed during his administration in line with his anti-drug war campaign.