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The peso slipped to another record low against the dollar yesterday as rising oil prices fueled concerns over global inflation and tighter monetary policy.

The local currency closed at 62.625 to $1, weakening by 3.9 centavos from Monday’s 62.586 finish, based on Bankers Association of the Philippines data.

This breached the previous record closing low of 62.59 on Sept. 4.

The peso opened at 62.57 and traded between 62.48 and 62.675. Trading volume rose by 16.8 percent to $1.39 billion from $1.19 billion in the previous session.

UnionBank chief economist Ruben Carlo Asuncion said Brent crude, a global oil benchmark, approached $100 per barrel, weighing on investor appetite for risk amid renewed concerns over inflation and tighter monetary policy.

‘As a major oil importer, the Philippines remains sensitive to higher energy prices because of their implications for inflation and the country’s import bill,’ Asuncion said.

Still, the economist said the peso’s relatively narrow trading range and stronger average exchange rate during the session suggested that selling pressure remained contained, partly as the broader dollar held steady.

According to Asuncion, near-term movements would likely depend on oil prices, developments in the Middle East and Friday’s US inflation report.

Jonathan Ravelas, senior adviser at Reyes Tacandong and Co, said investors are favoring dollar assets amid expectations that US interest rates will remain elevated, while higher oil prices are increasing the Philippines’ import bill and demand for dollars.

Ravelas expects the peso to trade between 62.60 and 62.90 to $1 in the near term, potentially testing new lows.

However, he does not expect a disorderly decline, citing the Bangko Sentral ng Pilipinas’ policy tools and reserves to manage excessive volatility.

Social Security System (SSS) has made its microloan program available through UnionDigital Bank (UD), allowing eligible members to borrow up to P20,000 through its mobile application.

In a statement, SSS president and CEO Robert Joseph de Claro said UD is the first of the four participating financial institutions (PFIs) to make SSS LoanLite available through its digital platform.

‘After months of preparation, SSS LoanLite is finally here. Qualified members can now apply through the UnionDigital Bank mobile application, making access to short-term financial assistance more convenient and secure,’ de Claro said in a statement.

‘We are also working with our other PFIs, which will soon make SSS LoanLite available through their respective digital platforms,’ he added.

SSS LoanLite is a digital microloan facility designed to provide qualified members with accessible, secure and affordable short-term financial assistance for immediate needs.

Unlike conventional SSS loans, LoanLite does not require employed members to secure employer certification when applying through a PFI.

The application and related transactions are facilitated through the UD mobile application, eliminating the need for members to secure and submit the usual employer certification for conventional SSS short-term loans.

Eligible members may apply for loans ranging from P1,000 to P20,000, depending on the average of their 12 latest Monthly Salary Credits.

Available repayment periods are 15, 30, 60 or 90 days, with an interest rate of eight percent per annum, equivalent to about 0.67 percent per month.

To qualify, members must have at least 36 total contributions, including at least six posted monthly contributions within the 12 months immediately preceding the application.

They must also have no past-due Short-Term Member Loans or active SSS Micro Loan, maintain an account with a participating financial institution enrolled in its online facility and meet other requirements involving existing loans, benefit claims and SSS account status.

Gunmen shot dead a Moro couple after robbing them of their belongings right in their house in Sitio Matiyumpong in Barangay Dalgan in Montawal, Maguindanao del Sur on Tuesday night, September 8.

Local executives in the neighboring Montawal and Pagalungan towns in Maguindanao del Sur and in the nearby Bangsamoro Special Geographic Area in Cotabato separately told reporters on Wednesday that the spouses Alex Monib Pandapatan and Bai Macabimban Salipada-Pandapatan both died instantly from bullet wounds sustained in the attack.

Municipal officials and Moro datus in Montawal and in Ligawasan town in the Bangsamoro Special Geographic area had told reporters the gunmen barged into the house of the Pandapatans, took their money, wristwatches and mobile phones and shot them with combat rifles before they ran away.

The exact location of the victim’s house is not too distant from the border of Datu Montawal and Ligawasan, one of the eight towns in the Bangsamoro Special Geographic Area under the regional government of the Bangsamoro Autonomous Region in Muslim Mindanao, but are inside Cotabato province in Region 12.

The gunmen who perpetrated the atrocity managed to escape before responding volunteer community watchmen and barangay officials in Dalgan could reach the scene.

Units of the Police Regional Office-Bangsamoro Autonomous Region and the Army’s 602nd Infantry Brigade are cooperating in identifying the killers of the Pandapatans for prosecution.

The North Luzon Expressway (NLEX) is now fully open to vehicular traffic with the completion by the Department of Public Works and Highways (DPWH) of initial structural works to prevent monsoon-induced heavy flooding, the latest of which lasted for days and left traffic at a standstill, especially along the San Simon and Tulaoc Bridge sections.

Public Works Secretary Vince Dizon said emergency engineering task forces, working together with NLEX Corp. and San Miguel Corp. (SMC), completed the installation of reinforced steel sheet piles along vulnerable embankment gaps to prevent river overflows from spilling onto the tollway.

‘Phase 1 is now complete. With sheet pile containment structures firmly in place, we are confident that this critical trade segment is protected even if river levels rise or high tides hit Manila Bay in the coming weeks,’ Dizon told reporters during an inspection of the area yesterday.

In Pampanga, at least 7,343 families or 26,322 people remain in evacuation centers as flooding continues to affect communities across the province, according to the latest report of the Provincial Disaster Risk Reduction and Management Office (PDRRMO).

The figure was recorded in 415 evacuation centers across the province. Santo Tomas town recorded 1,112 families or 3,951 people staying in seven evacuation centers. Bacolor has 663 families or 2,516 people in 15 centers.

The local government of Guagua reported 382 families or 1,334 people in 43 evacuation centers.

Outside the evacuation centers, 329 families or 1,122 people in Guagua and 24 families or 112 people in Porac are staying in safe places.

The provincial government said it has been providing potable water, managing evacuation centers, deploying water purifiers and distributing food packs to affected communities.

The PDRRMO report covers the combined effects of Tropical Depressions Luis, Maymay and Neneng, Tropical Storm Pilandok and the southwest monsoon.

Damage to agriculture due to the southwest monsoon and tropical cyclones last month has breached P4 billion, according to the Department of Agriculture.

Based on the final bulletin of the DA, the damage to agriculture including fisheries was at P4.38 billion.

This affected 99,663 farmers and fisherfolk, covering 81,511 hectares of agricultural areas and 102,791 metric tons of production losses.

Stanley Johnson waxed hot to tow AJ Edu’s Gunma Crane Thunders past Dwight Ramos’ Levanga Hokkaido, 98-81, in their Japan B.League’s preseason clash Wednesday at the Mall of Asia Arena in Pasay City.

Gunma rushed to a double-digit lead as early as the first quarter and never looked back as they kept the pressure on for all four quarters.

Johnson tallied 23 points, five rebounds, three assists and an assist. Trey Johnson added 16 markers while Yuma Fujii had 14.

After leading by just three, 17-20, after a jumper by Shuto Ichiba, a 9-2 run capped by a Koh Flippin layup gave the Crane Thunders a 29-19 lead at the end of the first.

This set the tone for the rest of the way, as they kept their distance from their opponents.

Hokkaido trailed by 10, 53-63, at the halfway point of the third following a deuce by John Harrar.

But a 23-7 run capped by a layup by Kenny Asano made it an 86-60 advantage with nine minutes to go after a Jones trey.

And while Levanga tried to rally back, slicing the deficit to 14, 77-91, it was too big a deficit to storm back from.

Takuto Nakamura had 11 points for Gunma. Edu was held to just three points on 1-of-5 shooting, while hauling down seven rebounds and four assists.

Keisei Tominaga paced Hokkaido with 19 points. Ramos backstopped with 13 markers points on 4-of-7 shooting.

The two teams will face each other anew on Thursday.

Wednesday’s game was the first-ever international ‘home’ game of the Japan B.League in Manila.

Several local government units have announced class suspensions for Wednesday, September 9, due to the continuing effects of the southwest monsoon or habagat.

Classes have been suspended or shifted to alternative learning arrangements in several areas amid heavy rains and flooding.

Below is a running list of class suspensions:

National Capital Region (NCR)

Caloocan City – No face-to-face classes in all levels, public and private; shift to Alternative Learning Modes

City of Manila – No face-to-face classes in all levels, public and private; shift to Alternative Learning Modes

Las Piñas City – No afternoon face-to-face classes in all levels, public and private; shift to Alternative Learning Modes

Malabon City – No face-to-face classes in all levels, public and private; shift to Alternative Learning Modes

Mandaluyong City – No face-to-face classes in all levels, public and private; shift to Alternative Learning Modes

Marikina City – No face-to-face classes in all levels, public and private; shift to Alternative Learning Modes

Muntinlupa City – No afternoon face-to-face classes in all levels, public and private; shift to Alternative Learning Modes

Navotas – No face-to-face classes in all levels, public and private; shift to Alternative Learning Modes

Parañaque City – No afternoon face-to-face classes in all levels, public and private; shift to Alternative Learning Modes

Pasay City – No afternoon face-to-face classes in all levels, public and private; shift to Alternative Learning Modes

San Juan City – No face-to-face classes in all levels, public and private; shift to Alternative Learning Modes

Quezon City – No face-to-face classes in all levels, public and private; shift to Alternative Learning Modes

Valenzuela City – No face-to-face classes in all levels, public and private; shift to Alternative Learning Modes

Region III (Central Luzon)

Bataan

Balanga City – No face-to-face classes in all levels, public and private

Hermosa – No face-to-face classes in all levels, public and private

Bulacan

Calumpit – No face-to-face classes in all levels, public and private; shift to Alternative Learning Modes

Hagonoy – No face-to-face classes in all levels, public and private

Obando – No face-to-face classes in all levels, public and private; shift to Alternative Learning Modes

Pampanga

Angeles City – No face-to-face classes in all levels, public and private; shift to Alternative Learning Modes

Candaba – No face-to-face classes at the following schools; shift to Alternative Learning Modes:

Lanang Elementary School

Pasig Elementary School

San Agustin Elementary School

Lanang High School

Pasig High School

Paralaya High School

Pampanga State University

Macabebe – No face-to-face classes in all levels, public and private

Masantol – No face-to-face classes in all levels, public and private, until Thursday, September 10

Mexico – No face-to-face classes in all levels, public and private

San Fernando City – No face-to-face classes at the following schools:

Camp Olivas Elementary School (San Nicolas)

Pandaras Integrated School

San Nicolas Integrated School

San Simon – No face-to-face classes in all levels, public and private, until Friday, September 11, except Concepcion Integrated School

Santo Tomas – No face-to-face classes in all levels, public and private; shift to Alternative Learning Modes

Zambales

Botolan – No face-to-face classes in all levels, public and private; shift to Alternative Learning Modes

Subic – No face-to-face classes in all levels, public and private; shift to Alternative Learning Modes

Region I (Ilocos Region)

Pangasinan

Mangaldan – No face-to-face classes in all levels in public schools; shift to Alternative Learning Modes. Suspension of classes in private schools is at the discretion of school management.

Region IV-A (Calabarzon)

Cavite

Tanza – No face-to-face classes in all levels, public and private; shift to Alternative Learning Modes

Cordillera Administrative Region (CAR)

Benguet

Kibungan – No face-to-face classes for day care

Gilas Pilipinas will have a full 12-man roster for the Asian Games.

Calvin Oftana will be stepping in as the final piece of Gilas’ lineup, head coach Tim Cone said, a couple of days before their back-to-back campaign starts.

Oftana will take the roster spot of naturalized star Justin Brownlee, who is seemingly still recovering from several injuries.

‘Calvin Oftana is stepping in as our 12th man. He is arriving this afternoon, we hope in time to make our practice schedule today,’ Cone told Philstar.com in a Viber message.

‘Calvin was always on the list to play, but we were uncertain of his health status. He has since returned to TNT’s practice and is good to go,’ he added.

The sweet-shooting forward has also missed several games both in the PBA and for Gilas as well due to injuries.

And it seems Oftana is healthy enough to step in.

Cone stressed that he sees a seamless transition for the scorer.

‘Because of the system we are running and his previous experience in the window teams, he’s a plug-and-play player and will fit right in.’

Prior to Oftana’s entry, the defending Asian Games champion squad is made up of Robert Bolick, Sedrick Barefield, Adrian Nocum, Jerrick Ahanmisi, RJ Abarrientos, Don Trollano, Justine Baltazar, Justin Arana, Zav Lucero, Brandon Ganuelas-Rosser and Brandon Bates.

Gilas won the 2023 Asian Games gold medal in Hangzhou, giving the Philippines its first gold in the Asiad men’s basketball tournament in 61 years.

With over six million non-resident Filipinos abroad expected to send balikbayan boxes during the holidays, a deal to protect their shipment has been signed by the Bureau of Customs and the Commission on Filipinos Overseas.

The BOC and CFO have partnered to aid Filipinos in avoiding unscrupulous as well as blacklisted freight forwarding firms and deconsolidators.

‘When it comes to balikbayan boxes, these will be given special treatment and we will not allow these to stay for more than one month, otherwise they would be considered abandoned,’ Customs Commissioner Ariel Nepomuceno said.

Special lanes and help desks for overseas Filipino workers have been installed at ports, Nepomuceno said.

Advisories on trustworthy firms will be released, CFO chairman Dante Francis Ang II said.

Clearer referral procedures will be created by the BOC and CFO to resolve missing, delayed, damaged and tampered balikbayan boxes.

A joint technical working group will develop guidelines to aid in the implementation of the agreement.

In 2025, the BOC resolved the issue of 42,000 balikbayan boxes that had been abandoned for three years.

New look, same goal for the University of the Philippines Fighting Maroons.

With the so-called ‘Maroon Five’ now exhausting their playing years in the UAAP — with seniors Harold Alarcon, Reyland Torres, Gerry Abadiano, Terrence Fortea and Janjan Felicilda now out of the team — the Fighting Maroons will rely on new faces this time around.

Former FEU Tamaraw and UAAP Rookie of the Year Veejay Pre, former UE Red Warrior Rainer Maga, and former San Beda Red Lion and NCAA Finals Most Valuable Player James Payosing are now in tow for UP.

The new names will complement the team’s veterans Jacob Bayla, Rey Remogat, Gani Stevens, Sean Alter and Chicco Briones.

‘Every season, may gigil. I mean, even if we didn’t make the finals [last year], you know, we won a championship two seasons back. Every season presents its own challenges. And it’s really one of the exciting parts of our job as coaches,’ UP assistant coach Christian Luanzon said.

‘And I’m sure sa players, especially for the players, because they can only exhaust five playing years to the max. So, every year may gigil yan,’ he added.

And while the ‘Maroon 5’ will be missed, life has to move on.

‘Siyempre, ma-miss namin sila. Definitely, hindi lang yung kung anong dinadala nila sa court. At yung off the court as well. The conversations and all of that. But then again, that’s life,’ the assistant coach emphasized.

‘And now, we have these players, good group of players, individuals. And we’re just looking to do the same, trying to help them reach their dream individually, playing pro. But at the same time, doing that in such a way that as a team, yung goal din namin for our commitment to UP when we came here is to bring out the best in them,’ he added.

‘And hopefully, perform at the highest level, which is the final four and sa finals.’

Luanzon said that the team’s seniors have been trying to impart the team’s culture with the new guys.

The team’s overseas trainings during the offseason were also big boosts for their UAAP campaign, not only for preparations but for building chemistry as well.

‘Nakatulong talaga yung overseas training namin. Playing in the AUBL really helped us. And then going straight to Korea, we were out of the country for almost three weeks. And before that, nag-Canada rin yung team. So what always helps is yung bonding ng team,’ he said.

‘When you’re outside of Philippine soil, yung roommate, magkakasama sa kwarto. Hindi katulad pang nandito, after practice, papasok na siya sa klase. Marami naman sa kanila magkakaklase. Ibang-iba pang nasa ibang bansa eh. Kaya mas nagkakaroon, mas nabi-build yung chemistry. Kaya every year, part talaga ng program ng UP Fighting Maroons yan,’ he added.

Still, Luanzon said that while the team is strong on paper, the only thing that will matter is what happens on the court.

‘Remains yet to be seen. How many teams have we seen whether in the NBA, PBA or any high school team, ang ganda tingnan sa papel. Pagdating sa dulo, kinakapos. So it all depends. Makikita lang natin yan from end to end between the 94 to 96 feet lines. Pagdating sa loob ng court.’

The new-look Fighting Maroons will debut against the University of Santo Tomas Growling Tigers at 6 p.m. on Sunday, September 13, at the Smart Araneta Coliseum.