PSEi tumbles anew, peso retests record low

The local stock market saw sustained profit-taking activities from investors, while the peso matched its record low after closing at 61.75 against the dollar amid escalating tensions between the United States and Iran.

The bellwether Philippine Stock Exchange index (PSEi) fell by 1.04 percent or 65.95 points to finish at 6,267.85.

The broader All Shares index likewise tumbled by 0.53 percent or 18.23 points, settling at 3,421.35.

First Metro Securities said the local bourse extended its decline on continued de-risking amid a second straight session of foreign outflows and a deterioration in global risk sentiment.

It said offshore investors turned net sellers, unloading P654.99 million while accounting for roughly half of total activity.

Total turnover value slipped to P6.49 billion from the previous day’s P7.94 billion.

RCBC chief economist Michael Ricafort cited as among the factors affecting the decline in the PSEi for the second straight trading day was the upcoming wage hike in Metro Manila that could lead to higher overall inflation due to higher prices of goods and services.

Ricafort said the decline of the peso also affected investor sentiment.

Ricafort, however, said yesterday’s decline is considered a healthy downward correction after gaining for four straight trading days.

Sectors were mixed, with mining and oil taking the biggest leap at 1.3 percent, while services suffered the largest drop at 3.01 percent.

Data from the Bankers Association of the Philippines showed the peso closed slightly weaker than Tuesday’s 61.745 finish. Wednesday’s close matched the peso’s record low of 61.75 per dollar, last recorded on May 19.

During the session, the peso opened at 61.73, which also marked its strongest level of the day, before weakening to 61.75, matching its record intraday low.

Jonathan Ravelas, senior adviser at Reyes Tacandong and Co., said the peso remained under pressure after the greenback strengthened further as rising oil prices heightened concerns over inflation.

Lacson flags ‘double appropriation’ for same Taguig slope project

Sen. Panfilo ‘Ping’ Lacson flagged a possible ‘double appropriation’ involving two P100-million allocations that appeared to cover the same slope protection project in Taguig City.

‘From P2.085B as earlier reported, we found three P100-M additional slope protection projects for a new total of P2.385B insertions under the 2025 GAA. Two items appear to be double appropriations, involving two (2)-P100M for the same slope protection project. One of the two must be ghost,’ Lacson said Wednesday in a post on X.

Lacson earlier said his team had documented at least two case studies involving suspected ‘ghost’ infrastructure projects in Taguig, the political bailiwick of Senate Minority Leader Alan Peter Cayetano.

Prior to this, Lacson flagged several slope protection and drainage projects in the city, mostly worth P100 million each, totaling a combined P2.085 billion out of what he claimed were P6.79 billion in insertions under the 2025 General Appropriations Act (GAA).

Of the P6.79-billion budget insertions under the 2025 GAA, Lacson said that 68 out of the 70 projects had been implemented while two projects involving P75 million remained unreleased or unobligated.

Lacson has vowed to pursue his investigation to its ‘logical conclusion’ amid his continuing public feud with Cayetano.

The Inquirer also sought comment from Cayetano and his team regarding this but has yet to receive a response as of posting time.

Meanwhile, Cayetano has previously denied that there are ghost projects in the city and challenged Lacson to also investigate other cities, not to single Taguig out.

The National Bureau of Investigation has also started looking into the alleged ghost infrastructure projects in Taguig following Lacson’s claims.

Some of the projects being scrutinized date back to 2019 and 2020, when Cayetano served as speaker of the House of Representatives

EAC unveils regional virus research centre to strengthen health security

The East African Community (EAC) has operationalised its Regional Centre of Excellence in Virology, marking a major milestone in efforts to strengthen the region’s capacity for virus research, specialised laboratory training and disease surveillance.

The facility, hosted by the Uganda Virus Research Institute (UVRI) in Entebbe, Uganda, was officially launched on Wednesday, July 22, 2026, by Uganda’s Prime Minister, Ms Robinah Nabbanja, on behalf of President Yoweri Museveni.

The centre is expected to serve as the region’s leading hub for advanced virology research, laboratory diagnostics, scientific training, disease surveillance and knowledge sharing, enabling EAC partner states to better prepare for and respond to public health threats, including Ebola, Marburg and other emerging and re-emerging viral diseases. Launching the centre, Ms Nabbanja described the initiative as a significant step towards strengthening regional health security, saying East Africa must continue investing in scientific research and innovation to address evolving disease threats.

‘The world is changing rapidly, together with its health challenges. We have learnt that a nation capable of studying its own pathogens is a self-reliant nation. Uganda remains committed to increasing investment in research,’ she said.

The EAC Council of Ministers Chairperson, Ms Rebecca Kadaga, said the establishment of the centre came at a critical time when infectious diseases continued to pose serious risks across the region and beyond.

She said lessons from the Covid-19 pandemic demonstrated that diseases do not respect national borders, making regional cooperation essential in preventing and responding to outbreaks.

Ms Kadaga added that although EAC partner states had strengthened their laboratory systems in recent years, disparities in technical expertise, infrastructure and resources remained.

She said the new centre would bridge those gaps by promoting scientific collaboration, specialised training and the sharing of expertise among partner states.

Representing the EAC Secretary General, Deputy Secretary General for Infrastructure, Productive, Social and Political Sectors, Mr Ariik Malueth said the centre was among seven Regional Medical Diagnostic Centres of Excellence identified under the EAC Health Investment Priority Framework 2018-2028, approved by the 19th Summit of EAC Heads of State.

He said the centre would ensure specialised scientific knowledge developed in one partner state became a shared regional resource benefiting all East Africans.

‘Uganda’s selection reflects the Uganda Virus Research Institute’s internationally recognised expertise and decades of contribution to virus research, disease surveillance and outbreak response,’ he said.

UVRI Director, Prof Pontiano Kaleebu, said the institute was committed to supporting regional health security through cutting-edge virology research, specialised laboratory training, diagnostics, surveillance and scientific collaboration.

He noted that UVRI already played a regional role by confirming laboratory samples submitted by partner states before disease outbreaks were officially declared, ensuring public health decisions were guided by scientific evidence.

The operationalisation of the centre has been supported through the EAC Regional Network of Reference Laboratories for Communicable Diseases Project, with financial support from the German government through KfW and technical assistance from the Bernhard Nocht Institute for Tropical Medicine (BNITM).

Uganda’s KfW country director, Jan Alber, reaffirmed Germany’s commitment to supporting East Africa’s health security, saying stronger laboratory systems and scientific partnerships were essential for building resilient health systems capable of responding to future disease outbreaks.

ADB, Japan set up water security fund for Asia-Pacific

The Asian Development Bank (ADB) and Japan have launched a new fund to strengthen water security in developing countries across Asia and the Pacific, including the Philippines.

The Water Initiative for Security, Efficiency and Resilience (WISER) Fund seeks to build resilience against worsening floods, droughts and other water-related shocks.

The new fund will also support ADB developing member countries in improving water-use efficiency and adopting digital and innovative solutions to address emerging challenges in the water sector.

‘There is nothing more basic to life or more decisive for development than water. When water systems fail, crops dry out, businesses slow, children miss school and families become more vulnerable,’ ADB president Masato Kanda said.

‘When water is managed well, communities thrive, investment follows and economies grow. Water is also a clean, reliable source of hydropower, and in today’s energy markets that matters more than ever,’ Kanda said.

For the WISER Fund, the Japanese government is set to make an initial contribution of $10 million or roughly P617.7 million at current foreign exchange rates.

‘Investment in the water sector is indispensable to the sustainable development of the region and to improving people’s lives,’ said Satsuki Katayama, Japan’s finance minister.

Katayama pointed to Japan’s extensive experience in addressing water challenges, from minimizing leakage to advancing sanitation and strengthening disaster preparedness and response.

‘Japan will share this knowledge and expertise with the people of the region through ADB,’ she added.

The Asia-Pacific faces some of the world’s most severe water-related risks, with floods, storms and droughts increasingly threatening communities across the region.

About 220 million people in the region still lack access to basic water services and around 520 million remain without basic sanitation, according to ADB.

Citing its latest Asian water development outlook, the multilateral lender reported that 2.7 billion people across the region have moved out of extreme water insecurity since 2023.

Yet, environmental degradation, rising water-related risks and persistent gaps in infrastructure investment threaten to reverse progress and deepen existing vulnerabilities.

Alas geared-up for turnaround?

As promised, Alas Pilipinas coach Angiolino Frigoni is sticking to his guns, the same ones he coached in a poor fifth-place showing in the men’s SEA V Cup first leg in Candon City, llocos Sur last week..

While the battle-tested Italian mentor isn’t promising the moon, he is of the belief that a bright future awaits his charges.

But Alas will be tested anew as it clashes with old, familiar foe, SEA V Cup first leg champion and conqueror Cambodia in today’s second and last leg of this annual event over in Jakarta, Indonesia.

Dynamo Josh Ybañez, named Best Libero in Candon, will spearhead the same squad that also features fellow World Championship veterans Lloyd Josafat, Louie Ramirez and Vince Lorenzo, and Southeast Asian Games beach volley medalist Jude Garcia.

Also in fold are Jian Salarzon, Axel Van Book, JJ Macam, Al Bukhari Sali, Rodge Alejos, Trevor Valerra, Lirick Mendoza, Josh Magalaman, Greg Ancheta, Adrian Villados and Vennie Ceballos.

Frigoni is steadfast that while the door is still open for Alas players who missed out joining the team in Candon, they would have to work and compete to reclaim their old spots.

Among those who weren’t in Candon due to various reasons were Bryan Bagunas, Marck Espejo and Leo Ordiales.

Alas is determined to get back at Cambodia after the former succumbed to the latter in a five-set duel that led to the Nationals’ fifth-place finish.

Yanga target Sundowns striker Shalulile to strengthen attack

Mainland Tanzania Premier League defending champions Young Africans (Yanga) are planning a move for experienced Namibian striker Peter Shalulile as they seek to strengthen their striking force ahead of the 2026/2027 season.

Sources within the club have revealed that Yanga’s top management has already initiated early negotiations with both Shalulile and his South African club, Mamelodi Sundowns, in an effort to secure the services of the prolific forward.

The move comes at a crucial time for Yanga, who are looking to bolster their squad for both domestic competitions and the Caf Champions League campaign. At present, the Jangwani-based side has only two available strikers in its senior squad: Laurindo ‘Depu’ Aurélio and newly signed Hussein Mihambo, who joined the club from Mashujaa FC during the current transfer window. Yanga’s striking department has been significantly weakened following the departure of dependable Zimbabwean striker Prince Dube, who recently left the club to join Hardrock FC of Zimbabwe. Dube was an important figure in Yanga’s attack and played a key role in the team’s success over the past seasons. The situation has been further complicated by the injury setback suffered by young forward Clement Mzize. Reports indicate that Mzize is yet to make a full recovery and is expected to regain match fitness only in November, leaving Yanga with limited options in the attacking department for the opening months of the new season.

A source close to the club confirmed that Yanga are actively searching for a striker capable of leading the line in both local and continental competitions.

‘Top management is working on the matter. Soon we will give what is going on. But we are searching for a striker ahead of both local competitions and the CAF Champions League,’ said the source.

Shalulile, one of Africa’s most experienced and decorated strikers, has built an impressive reputation during his time at Mamelodi Sundowns.

The Namibian international has been instrumental in Sundowns’ dominance of South African football, helping the club win multiple Premier Soccer League titles and competing regularly in the CAF Champions League.

Known for his pace, movement, and clinical finishing, Shalulile would bring a wealth of experience to Yanga’s attack if the deal materialises. His arrival would also provide coach Manqoba Mngqithi with a proven goalscorer capable of handling the demands of both the Mainland Premier League and the high-pressure environment of continental football.

Early childhood investment to shape Zanzibar’s workforce

Unguja. Zanzibar has stepped up efforts to strengthen early childhood development (ECD), describing investment in childcare, nutrition and early learning as critical to building a skilled and productive future workforce.

Second Vice President Hemed Suleiman Abdulla, representing President Hussein Ali Mwinyi, made the remarks yesterday during the launch of the Zanzibar Multisectoral Early Childhood Development Programme (ZMSECDP) 2026-2031 and the opening of the Stanbic Bank Tanzania-funded Mwanakwerekwe Early Childhood Development Centre.

He commended Stanbic Bank for supporting Zanzibar’s ECD agenda and called on other financial institutions and private sector players to support similar initiatives.

“We commend Stanbic Bank for this strategic investment and its continued support for socio-economic development not only in Zanzibar but across Tanzania,” Mr Abdulla said.

The Sh500 million facility, named the Dr Hussein Ali Mwinyi Childcare Centre, is among the first projects under the Adopt an ECD Centre Initiative, a partnership involving the Revolutionary Government of Zanzibar, Stanbic Bank Tanzania and Save the Children International.

Located at Mwanakwerekwe Market, the centre will provide childcare, early learning, nutrition, healthcare and child protection services for up to 60 children daily, particularly benefiting traders and working parents. State Minister in the President’s Office and Acting Minister for Health, Dr Saada Mkuya Salum, said implementation of the five-year ZMSECDP programme will require Sh205.2 billion, to be mobilised through the government, development partners, civil society and the private sector.

Stanbic Bank Tanzania Chief Financial and Value Officer Derick Lugemala said the project was an investment in people and Zanzibar’s future rather than corporate philanthropy. He said the remaining Sh150 million from the bank’s Sh500 million commitment would support additional ECD centres across Zanzibar.

“The centre demonstrates what can be achieved when government, business and development partners unite to strengthen families, empower communities and unlock the potential of the next generation,” Mr Lugemala said.

The initiative aligns with Zanzibar Development Vision 2050, which identifies human capital development as a key driver of long-term socio-economic transformation.

Tanzania frustrate Ghana in final Wafcon warm-up

Tanzania’s senior women’s national football team, Twiga Stars, delivered another encouraging performance ahead of the 2026 Women’s Africa Cup of Nations (WAFCON) after holding Ghana to a goalless draw in an international friendly in Morocco on Tuesday.

The result offers a timely confidence boost for coach Bakari Shime’s side as they complete their preparations for the continental showpiece, which kicks off on July 26 in Morocco. Tanzania will compete in a challenging Group B alongside defending champions South Africa, Côte d’Ivoire and Burkina Faso.

Twiga Stars produced a disciplined defensive display to frustrate one of Africa’s traditional powerhouses, with Ghana dominating possession but failing to find a breakthrough against Tanzania’s organised backline. The Black Queens controlled much of the match and dictated the tempo from the opening whistle, but they struggled to convert their superiority into meaningful scoring opportunities. Tanzania remained compact throughout the contest, limiting Ghana’s attacking options and forcing them to settle for efforts from less dangerous positions.

Whenever they regained possession, Twiga Stars looked dangerous on the counterattack, using their pace and teamwork to keep Ghana’s defence alert. Although neither side created many clear-cut chances, Tanzania’s defensive resilience ensured the match ended in a goalless stalemate.

The result provides valuable encouragement for Twiga Stars just days before their WAFCON campaign begins. Tanzania will open their Group B campaign against South Africa on July 27 before facing Burkina Faso on July 31 and concluding the group stage against Côte d’Ivoire on August 4.

For Ghana, the draw exposed the need for greater attacking efficiency despite their dominance in possession. The Black Queens will now turn their attention to Group D, where they are set to face Cape Verde, Cameroon and Mali in what is expected to be another competitive section.

Elsewhere, Côte d’Ivoire returned to winning ways with a hard-fought 1-0 victory over Mali at the Berrechid Municipal Stadium, bouncing back from their recent defeat to Ghana.

The decisive moment came in the 42nd minute when GrSce Ruth Sery capitalised on a scoring opportunity, firing home the only goal of the match to hand the Elephants a morale-boosting victory.

Mali responded strongly after the break, applying sustained pressure in search of an equaliser, but Côte d’Ivoire defended resolutely to preserve their slender advantage until the final whistle.

INQToday: Signal No. 1 in 13 Luzon areas due to Tropical Depression Kiyapo

The state weather bureau raises Tropical Cyclone Wind Signal No. 1 over 13 areas in Northern Luzon due to Tropical Depression Kiyapo on Thursday, July 23.

Lacson flags ‘double appropriation’ for same Taguig slope project

Sen. Panfilo ‘Ping’ Lacson flagged a possible ‘double appropriation’ involving two P100-million allocations that appeared to cover the same slope protection project in Taguig City.

‘From P2.085B as earlier reported, we found three P100-M additional slope protection projects for a new total of P2.385B insertions under the 2025 GAA. Two items appear to be double appropriations, involving two (2)-P100M for the same slope protection project. One of the two must be ghost,’ Lacson said Wednesday in a post on X.

CDN Digital strengthens lead as Cebu’s top news website in first half of 2026

CDN Digital widened its lead as Cebu’s most visited news website during the first half of 2026, capturing nearly half of the market’s total traffic and outperforming its closest competitors across all major traffic sources, according to data from digital intelligence platform Similarweb.

The report showed that CDN Digital generated 2.814 million visits from January to June, equivalent to a 46.77 percent market share among the four leading Cebu-based news websites.

Bombers blast Lions to win first ever FilOil preseason title

For the first time in the preseason league’s history, the Jose Rizal University Heavy Bombers are champions of the FilOil EcoOil Preseason Cup.

This after JRU blasted off against the reigning NCAA champions San Beda Red Lions, 74-67, Thursday at the FilOil EcoOil Centre in San Juan.

The Heavy Bombers kept the Red Lions at bay with huge plays down the stretch to complete a two-game sweep in the championship round.

Eventual Finals Most Valuable Player Lawrence Mangubat finished the game with 27 points, three rebounds, three assists and a steal, while Jahmir Eligado had 10 markers and nine boards in the title-clinching Game 2.

JRU led by 11, 56-45, after a layup by Eligado with 7:36 remaining.

But an 8-1 run, capped by a 3-pointer by Zedjay Etulle, closed the gap, 53-57, with 5:31 left.

Mangubat, though, hit a trey of his own and followed it up with a baseline jumper to keep their opponents at arm’s length, 62-53.

A pair of free throws by Lawrence Hawkins and a deuce by Sean Torculas off the steal, made it a five-point deficit anew, 57-62.

But both teams traded triples as San Beda kept in step with the Heavy Bombers.

With less than 40 seconds left and with the Red Lions trailing by six, 64-70, after a split from the line by Dom Sarigumba, San Beda forced a steal.

Dan Marcelo, however, was blocked by Chris Hubilla, and the rock hit Marcelo on the way out.

And while San Beda continued to pound on the door, clutch free throws by Mangubat down the stretch, as well as a clutch rebound by Ivan Panapanaan that led to the dagger freebies by Mangubat, iced the game.

The game was tight through the half, with JRU leading by just one, 29-28, after the first 20 minutes of play.

But the Heavy Bombers dropped a 23-12 third quarter to break the game wide open, 52-40, heading to the fourth.

Allan Laurenaria and Jay Garupil finished with nine points each, while Chris Hubilla had eight points, eight rebounds, five assists, two steals and a block.

Zedjay Etulle had 14 points and four rebounds for San Beda, while Torculas had 13 markers, seven boards and three dimes.

This is the first title of JRU in the tournament.

The Heavy Bombers last made the finals back in the first season of the competition, finishing as the runners-up to the La Salle Green Archers.