Author: Nouman Ali

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.

The Sandiganbayan on Wednesday issued a precautionary hold departure order (PHDO) against former Speaker Martin Romualdez, a travel restriction sought by the Ombudsman in connection with the case it is preparing against the lawmaker and several others being linked to the flood control corruption scandal.

The anti-graft court’s Seventh Division granted a petition filed earlier that day by the Office of the Ombudsman through a special panel of investigators, who said Romualdez ‘presents an exceptionally high probability of flight.’

The investigators, led by Deputy Special Prosecutor Omar Sagadal, said they had already made a preliminary finding of probable cause against Romualdez for plunder, direct and indirect bribery, and money laundering.

‘Evade arrest’

‘The complaint-affidavit involves the alleged kickback scheme tied to flood control projects, purportedly masterminded by the respondent (Romualdez), with the total amount of such kickbacks reaching approximately [P56 billion],’ they said in their petition dated April 20.

In the PHDO it issued, the Seventh Division said it found probable cause ‘to believe that respondent will depart from the Philippines to evade arrest and prosecution of crime/s being charged against him.’

The court ordered the Bureau of Immigration to include Romualdez in its hold-departure list.

The Leyte congressman, who is also a cousin of President Ferdinand Marcos Jr., earlier sought clearance from the House leadership to be in Singapore from April 20 to May 4 ‘for a long overdue follow-up on my angioplasty surgery.’

Speaker Faustino ‘Bojie’ Dy III granted his predecessor’s request for a travel clearance on Tuesday.

‘Other people’s corruption’

On the same day, however, Ombudsman Jesus Crispin Remulla held a press conference to say he was blocking Romualdez’s overseas trip.

Remulla also disclosed that his office had taken initial steps to secure a freeze order on the former Speaker’s assets, and that a plunder complaint may be filed against him in May.

Later in the day, Romualdez released a video defending himself against allegations implicating him in the public works mess and in the controversial insertions made in the 2025 national budget.

‘I will not be the fall guy for other people’s corruption,’ said Romualdez, who stepped down two months into his second term as speaker in the current 20th Congress, after he was dragged into the corruption scandal.

He stressed that he was not part of the bicameral conference committee or the ‘small committee’ that introduced changes to the budget bill.

The insertions, he said, were decided by Sen. Francis ‘Chiz’ Escudero, then Senate President, and former Ako Bicol Rep. Elizaldy ‘Zaldy’ Co, then House appropriations chair.

Also on Wednesday, Sen. Panfilo Lacson said Romualdez should have appeared before the Senate during its inquiry into the flood control projects.

Lacson, who heads the Senate blue ribbon committee, said the former House leader should have ‘heeded [our] invitations’ to attend the panel’s hearings, especially after Co, in a series of video recordings in November last year, claimed that Romualdez took part in ‘mangling’ the 2025 budget.

No ‘modus’ in Senate

Sen. JV Ejercito also on Wednesday noted that the ‘modus of selling [infrastructure] projects’ was prevalent among ‘contractors’ – a portmanteau of congressmen and contractors.

There is no way the Senate could ‘gain’ from this scheme, Ejercito said. ‘It’s not that I’m defending the Senate, but you’ll never hear about that here [in this chamber].’

‘I hope those involved will be held accountable,’ the senator said.

A former member of the chamber, Ramon ‘Bong’ Revilla Jr., is currently detained over graft and malversation charges in connection with the flood works mess. The former senator and two others had also been implicated in the 2013 pork barrel scandal.

The Moro Islamic Liberation Front (MILF) welcomed the appointment of former Interior Secretary Mel Senen Sarmiento as the new presidential adviser on peace, reconciliation and unity.

‘We recognize an opportunity in his appointment for the substantial fulfillment of the CAB (Comprehensive Agreement on the Bangsamoro) and building the foundations of peace in the Bangsamoro,’ Mohagher Iqbal, MILF vice chair, said in a statement on Wednesday.

Iqbal said the MILF also expressed its gratitude to the contributions of former presidential peace adviser Carlito Galvez Jr. in the country’s peace efforts. Galvez took the post in 2018 after retiring from military service.

‘General Galvez has not merely been an official, but a partner to the MILF in the critical years of [CAB] implementation,’ he said.

Iqbal, who led the MILF in political negotiations with the government, noted that during the tenure of Galvez, the Mindanao peace process witnessed historic achievements like the passage of the Bangsamoro Organic Law and beginning the work on decommissioning.

‘Harder work’

‘What remains is the harder, less visible work: completing normalization, building fiscal and governance capacity in the BARMM (Bangsamoro Autonomous Region in Muslim Mindanao), ensuring that the Bangsamoro’s first parliamentary elections strengthen rather than fracture democratic legitimacy, and delivering development that reaches the communities most affected by decades of conflict,’ he said.

And for Iqbal and the MILF, this is where the new peace adviser fits in.

‘This is civilian work. It requires the kind of governance experience that Secretary Sarmiento brings-his understanding of municipal administration, regional development coordination, and national government and BARMM intergovernmental work,’ Iqbal said.

Fans of Michael Jackson and moviegoers who grew up with his music may have reason to head back to theaters this week, after the Movie and Television Review and Classification Board (MTRCB) approved ‘Michael,’ a biographical film about the life of the King of Pop.

The film, starring his nephew Jaafar Jackson, received a PG classification. According to the MTRCB, a PG rating means younger viewers may watch with parental guidance. The film traces Jackson’s journey from child star with The Jackson 5 to one of the most recognizable entertainers in modern history.

For many Filipino fans who came of age in the 1980s and 1990s, Jackson’s music formed part of radio playlists, dance contests and pop culture moments. He became known worldwide for albums such as Thriller, Bad and Dangerous, as well as songs like Billie Jean and Beat It.

Also included in this week’s lineup is Decadence, a drama-romance film exclusive to Megaworld Cinemas, which received an R-18 rating for mature themes that may not be suitable for viewers below 18.

At SM Cinemas, Mother Mary, starring Anne Hathaway, was rated R-16. The Board said the psychological thriller may contain themes or scenes not suitable for viewers below 16.

Another R-16 release is Rosemead, a crime-drama thriller exclusive to Robinsons Movieworld, starring Lucy Liu, Lawrence Shou and Orion Lee.

Also screening at Robinsons is Gintama on Theater 2D, an animated feature rated R-13, while the One OK Rock concert film received a PG rating.

Under MTRCB rules, PG means parental guidance is advised. R-13, R-16 and R-18 indicate content that may not be appropriate for younger viewers depending on age classification.

MTRCB Chairperson and CEO Lala Sotto said film classifications remain part of the Board’s campaign for Responsableng Panonood.

‘Our goal is not to limit choices, but to guide viewers. By providing clear classifications, we help families decide what is appropriate, while allowing filmmakers to tell their stories responsibly,’ Chairperson Sotto said.

Sotto further said that parental supervision remains important, especially in today’s digital age where content is more accessible than ever.

‘Responsableng Panonood begins at home. We encourage parents and guardians to use these ratings as a guide, especially now that content is easier to access across many platforms,’ she added. ‘In today’s digital world, content is available anytime and anywhere. That is why parents and guardians play a vital role. We encourage them to use our classifications as a tool for Responsableng Panonood,’ she added.

National University clinched the No. 2 seed and a crucial bye in the first round of the step-ladder after rallying past University of Santo Tomas, 19-25, 23-25, 25-18, 25-18, 15-13, in the final elimination round playdate of UAAP Season 88 women’s volleyball tournament on Wednesday at Smart Araneta Coliseum.

In finishing second behind outright finalist La Salle, the defending champions also gained a prolonged break as the Golden Tigresses dropped into a tie for fourth spot with Far Eastern at 8-6 and both will figure in a KO duel for the right to play third-ranked Adamson in another you-or-me match.

That means more than a week of rest and recalibration-with the battle for the second title series slot slated for May 2-for the Lady Bulldogs, who are coming off two five-set games, the other a heartbreaking setback to the Lady Spikers over the weekend.

The Lady Bulldogs willed their way back from a two-set deficit, riding the troika of Arah Panique, rookie Sam Cantada and the seasoned Vange Alinsug, before National U wrapped it all up when Angge Poyos sent an off-pace spike wide when the pressure was at its highest.

Alinsug then promptly drilled the game-winning kill.

‘I’m very proud, not just of this game, but even the last one. Even when we lost, we gave everything,’ said NU coach Regine Diego. ‘From that point, I knew these girls would play their best because we’ve already seen what we’re capable of.

‘We proved we can fight until the end.’

Panique led NU with 24 points built on 21 attacks, two blocks and an ace, while Cantada delivered 20 points, 17 excellent receptions and nine digs as the Lady Bulldogs closed out the eliminations at 10-4.

Alinsug added 13 points and 10 digs. Chams Maaya chipped in nine points, highlighted by three aces in the fourth set that sparked the comeback.

‘This experience showed me that the team is still developing, [and] they’re improving every day,’ Diego continued. ‘These players aren’t made yet, they’re still gaining experience. But you can really see how fast they’re growing with every game.

‘A lot of challenges’

‘It hasn’t been easy, we’ve faced a lot of challenges and obstacles. But they’re much stronger now compared to our first game.’

Setter Lams Lamina orchestrated the offense with 24 excellent sets and five points, while libero Shaira Jardio anchored the floor defense with 33 excellent receptions and 16 digs.

Cramping up in the fifth set, Poyos still paced the Tigresses with 24 points, 15 receptions and nine digs, while Reg Jurado added 21 points and 16 digs. Jonna Perdido and Avril Bron contributed eight points each.

Santo Tomas libero Detdet Pepito impressed with 20 excellent receptions out of 22 attempts and 16 digs, but the Tigresses fell short in the deciding set after surrendering late momentum.

The Lady Tamaraws stayed alive in semifinal slot hunt after a come-from-behind 22-25, 23-25, 25-12, 25-21, 15-10 win over the also-ran Ateneo in the first game.

Far Eastern also came back from two sets down to finish with an 8-6 record and catch the Tigresses as Gerz Petallo led the comeback with 17 points, 16 digs and 11 excellent receptions. Kyle Pendon contributed 13 points off six blocks, five spikes and two aces.

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.

The province of Iloilo has once again secured its place as a hub for academic excellence as Royce Arjan Fantillan, a native of Oton town, claimed the top spot in the April 2026 Pharmacists Licensure Examination.

The Professional Regulation Commission (PRC) announced on Wednesdsy that Fantillan, a graduate of the University of San Agustin, bested thousands of examinees nationwide with a stellar rating of 94.65 percent.

For Fantillan, a resident of Poblacion West, Oton, the news came while he was scrolling through social media to ease the anxiety of the wait.

‘I opened Messenger and saw our group chat blowing up. Then I saw a picture of the list of topnotchers,’ Fantillan recalled. ‘I was in shock. When it finally sank in, I immediately hugged my parents. They were the very first people I wanted to know.’

The son of a retired seaman, Fantillan credits his success to his family’s unwavering support. Despite describing their life as a modest, middle-class existence, he noted that his parents provided the ‘time and space’ necessary for him to focus entirely on his goals.

Fantillan’s journey to the top was unconventional. Unlike the stereotypical ‘studious’ topnotcher, the 22-year-old admitted he struggled with distractions and preferred the hum of coffee shops over the quiet of a bedroom.

‘I couldn’t study well inside the house. I preferred going out, finding a new environment in coffee shops with good ambiance,’ Fantillan shared. He added that his ‘secret weapon’ was a combination of intense, late-stage study spurts and a solid support system of friends who reviewed alongside him.

The two-day exam, held on April 18 and 19, was described by Fantillan as a grueling test of ‘testmanship’ and logic, featuring many new concepts not previously seen in review materials.

Fantillan’s individual victory mirrored the institutional success of his alma mater. The University of San Agustin in Iloilo City emerged as the only top-performing school with more than 100 examinees, registering an impressive 82.43 percent passing rate, with 122 successful examinees out of 148 takers.

The new topnotcher admits that his university performance gave him a quiet confidence. ‘I set an expectation for myself that if I could do it in San Ag, I could conquer the board exam too,’ he said.

While many top-performing pharmacists head straight into community or clinical practice, Fantillan is looking toward the classroom.

‘I want to join the academe; that’s my preferred career path,’ he revealed, adding that he is also considering a future in Medicine. For now, however, the nation’s newest top pharmacist plans to take a well-deserved vacation before beginning his professional journey.

Fantillan’s success serves as a testament to the growing prestige of Western Visayas in the medical and allied health fields, proving that local talent can rise to the national stage through a mix of grit, community support, and-in his case-the perfect cup of coffee.

Philippine National Police Chief Gen. Jose Melencio Nartatez Jr. on Wednesday ordered a sweeping audit of all regional police training units nationwide following allegations that police trainees in the Cordillera Administrative Region (CAR) were forced to shoulder part of their superiors’ housing expenses through a rent ‘kickback’ scheme.

‘I have ordered a mandatory audit of all lease agreements involving trainees,’ Nartatez said in a statement. ‘Every cent must be transparent and documented. If you are found guilty of squeezing money from our recruits, you are out of the service immediately.’

The Criminal Investigation and Detection Group and the Anti-Cybercrime Group, along with the Directorate for Education and Training, were tasked to determine whether the rent kickback scheme was also being done in other PNP regional special training units (RSTU).

They will also gather evidence for the possible filing of criminal and administrative cases against those involved in the illegal activity. Seven RSTU-CAR police officials were earlier relieved over the alleged kickback scheme.

Period covered

The PNP’s initial findings revealed supposedly irregular lease agreements between 2023 and 2025. Although trainees were each charged up to P3,000 monthly for temporary housing, they were forced to pay an additional P600, allegedly to cover the rent for their superior officers’ housing.

A report from the PNP Training Service dated April 19 noted that while the last batch of affected trainees graduated in the middle of last year, records suggested the practice may still be ongoing.

‘We want to give the trainees and the public the assurance that this practice is illegal,’ Nartatez said.

‘Our move to check and review all our training units nationwide will give them peace of mind that we will never tolerate any form of wrongdoings,’ he added.

PLDT captured the bronze in the 2026 PVL All-Filipino Conference after completing a series sweep of Farm Fresh in another thrilling five-setter, 25-14, 21-25, 25-21, 21-25, 15-5, in Game 2 on Thursday at Smart Araneta Coliseum.

The High Speed Hitters were dragged into another decider, but from a 2-all tie in the fifth set, Savi Davsion caught fire to mount a 10-4 lead. Kiesha Bedonia scored three straight kills to reach match point, 14-5, before Kianna Dy nailed the game-winning block on Royse Tubino.

PLDT also needed five sets in Game 1, with Davison pouring 33 to turn back Farm Fresh, 22-25, 25-21, 27-25, 26-28, 15-11, on Tuesday.

BATTLE FOR BRONZE – PLDT vs Farm Fresh – Game 2

FINAL: PLDT captures the All-Filipino Conference bronze after surviving Farm Fresh in another five-set thriller, 25-14, 21-25, 25-21, 21-25, 15-5.

FINAL: PLDT captures the All-Filipino Conference bronze after surviving Farm Fresh in another five-set thriller, 25-14, 21-25, 25-21, 21-25, 15-5. OF SET 4: Farm Fresh 25, PLDT 21. The Foxies force a decider. OF SET 3: PLDT 25, Farm Fresh 21. The High Speed Hitters regain the lead, inching closer to a bronze medal finish. OF SET 2: Farm Fresh 25, PLDT 21. The Foxies tie the game to one set apiece. OF SET 1: PLDT 25, Farm Fresh 14.

PVL Finals: Creamline goes for clincher vs gritty Cignal

Creamline wary as it goes for clincher vs gritty Cignal

When Creamline flushed Cignal with a heavy dose of championship experience to take Game 1 of the PVL All-Filipino Conference finals, the Cool Smashers did so in such an authoritative manner that even their foes couldn’t help but notice.

‘It’s about how they (Creamline) stay composed and enjoy every situation. For us, it felt different,’ said Super Spikers coach Shaq Delos Santos. ‘The biggest lesson for us, especially since it’s our first time [in the All-Filipino finals], is to embrace the moment.’

Cignal, which owns runner-up finishes in the 2022 Reinforced and 2024 Invitational, has one shot to embrace the moment.

Creamline guns for the crown on Thursday at Smart Araneta Coliseum, intent on reclaiming its crown but very much aware of how much its gritty foe has to offer as it fights for survival.

‘Cignal is the type of team that doesn’t stick to just one lineup. They make a lot of changes. So we need to stay patient and be ready for whatever adjustments they make in Game 2,’ said Jema Galanza, who had 17 points in Game 1, aside from collecting 13 excellent receptions from 18 tries.

PVL Finals: Bernadeth Pons, Creamline remain wary ahead of Game 2

Bernadeth Pons and Creamline Cool Smashers during the 2026 PVL All-Filipino Conference Finals Game 1 vs Cignal Super Spikers.

Bernadeth Pons and Creamline Cool Smashers during the 2026 PVL All-Filipino Conference Finals Game 1 vs Cignal Super Spikers. -MARLO CUETO/INQUIRER.net

MANILA, Philippines – Even with the 11th PVL title within reach for Creamline, Cool Smashers star Bernadeth Pons still refuses to look far ahead.

The Cool Smashers can close out the 2026 PVL All-Filipino Conference Finals after a 25-22, 25-18, 25-16 sweep of Cignal in Game 1 on Tuesday.

But Pons and Creamline are taking it one game at a time against a Cignal side eager to to extend the series to a decider.

‘We try not to think too much that we’re just one win away. We know nothing will be given to us. We have to earn it. Even with just one day of preparation, the most important thing is our mindset,’ Pons said in Filipino.

PVL Finals: Vanie Gandler, Cignal move forward after Game 1 loss

Cignal Super Spikers’ Vanie Gandler during a game against Creamline Cool Smashers in the 2026 PVL All-Filipino Conference Finals.

Cignal Super Spikers’ Vanie Gandler during a game against Creamline Cool Smashers in the 2026 PVL All-Filipino Conference Finals. -MARLO CUETO/INQUIRER.net

MANILA, Philippines – Vanie Gandler and the Cignal Super Spikers shift their focus to Game 2 after getting swept by Creamline in their PVL All-Filipino Conference finals debut.

Gandler shone in Game 1 with 17 points and 10 excellent receptions but Cignal fell to Creamline, 25-22, 25-18, 25-16, in Game 1 of the best-of-three finals on Tuesday in front of a Cool Smashers-dominated 8,183 fans at Smart Araneta Coliseum.

‘It was a tough loss, but it’s Game 1, it’s a best-of-three series for a reason. We’re just going forward and do what we need to do to improve,’ said Gandler.

Following a fragile ceasefire in the Middle East, the domestic market has seen a glimmer of relief with two consecutive weeks of substantial fuel price adjustments.

As of Tuesday, April 21, 2026, motorists welcomed another major double-digit rollback on diesel prices, which saw a reduction of P24.94 per liter.

This follows a similar massive cut the previous week, marking a significant, albeit necessary, correction that has brought diesel prices down from their recent peaks and into a more manageable, though still high, range for consumers.

Below are the oil prices monitored and gathered by the INQUIRER team as of April 23, 2026.