Private Sector rejects proposed Pension contribution hike, warns of job losses

The Organized Private Sector of Nigeria (OPSN) has cautioned the Federal Government and the National Pension Commission (PenCom) against plans to increase mandatory pension contributions, warning that the proposal could undermine job creation, suppress wage growth and threaten business sustainability.

The OPSN, comprising the Manufacturers Association of Nigeria (MAN), the Nigeria Employers’ Consultative Association (NECA), the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), the Nigerian Association of Small and Medium Enterprises (NASME), the Nigerian Association of Small Scale Industrialists (NASSI), and 25 other sectoral employer associations, described the proposal as a potential ‘Greek gift’ to Nigerian workers.

The warning follows comments by PenCom Director-General, Omolola Oloworaran, on plans to increase mandatory pension contributions and introduce an additional annual contribution equivalent to three per cent of employers’ total wage bills.

While acknowledging the need to strengthen Nigeria’s pension system, the OPSN argued that introducing additional statutory payroll costs amid prevailing economic challenges would place further strain on employers and workers alike.

According to the group, Nigeria’s current mandatory pension contribution of 18 per cent-comprising 10 per cent from employers and eight per cent from employees-is broadly comparable to the 18.8 per cent average mandatory contribution rate among OECD countries.

It insisted that any proposal to increase the contribution rate must be backed by comprehensive actuarial evidence demonstrating that the current rate is inadequate and that higher contributions would not negatively affect employment, wages, compliance or business survival.

Speaking on behalf of the group, Director-General of NECA, Adewale-Smatt Oyerinde, faulted the timing of the announcement, saying it was premature to signal an increase while stakeholder consultations were still underway.

‘The OPSN supports efforts aimed at strengthening Nigeria’s pension system and improving retirement outcomes for workers. However, announcing that contribution rates will increase while consultations are still ongoing risks prejudging the outcome of the process and reducing subsequent stakeholder engagements to a mere formality,’ he said.

Oyerinde stressed that previous pension reforms followed extensive consultations involving government, employers and organised labour, adding that any future review should emerge from credible economic assessments and transparent social dialogue.

The Director-General of MAN, Segun Ajayi-Kadir, warned that manufacturers are already grappling with soaring energy costs, high interest rates, exchange-rate volatility, multiple taxes and weak consumer demand.

According to him, imposing additional employment costs could force businesses to freeze recruitment, delay salary reviews, reduce workforce numbers, suspend expansion plans or pass the increased costs to consumers through higher prices.

‘The proposed increase may directly raise employee contributions, but its broader consequences could include weaker wage growth, fewer employment opportunities, job losses and higher prices,’ he said.

Also expressing concern, NACCIMA Director-General Sola Obadimu said the proposal contradicts ongoing government efforts to improve the business environment through economic reforms.

He argued that introducing new statutory financial obligations at a time businesses are struggling to recover could erode the gains of recent fiscal and tax reforms.

Similarly, Director-General of NASSI, Ifeanyi Oputa, warned that micro, small and medium-sized enterprises (MSMEs) would bear the heaviest burden.

He noted that many small businesses are already operating on thin margins amid rising operating costs, adding that higher pension obligations could force more businesses into informality and weaken compliance with the pension scheme.

The OPSN urged the Federal Government to focus on tackling inflation, preserving workers’ purchasing power and creating a more enabling environment for businesses before considering any increase in pension contributions.

It also called for a comprehensive economic and employment impact assessment, genuine stakeholder consultations and greater consideration of the proposal’s implications for investment, job creation, inflation and enterprise sustainability.

The group maintained that while it supports reforms aimed at improving retirement security, sustainable pension reforms must strike a balance between protecting workers’ future benefits and preserving the businesses and jobs that fund the pension system.

‘A strong pension system cannot be built on weakened enterprises, declining formal employment and rising business closures,’ the OPSN said, warning that any reform that increases employment costs without addressing current economic realities would ultimately amount to a ‘Greek gift’ to Nigerian workers.

Shantha Bandara reappointed SLCPI President as Chamber advances regulatory reform and patient access

The Sri Lanka Chamber of the Pharmaceutical Industry (SLCPI) has announced the reappointment of Sunshine Healthcare Lanka Ltd., Director and Chief Executive Officer Shantha Bandara as its President for the 2026/27 term at the Chamber’s 65th Annual General Meeting held at Cinnamon Grand Colombo.

The event was graced by Deputy Health Minister Dr. Hansaka Wijemuni, as Chief Guest, together with government representatives, healthcare partners, past presidents, member companies and other industry stakeholders.

Bandara’s reappointment provides continuity to a reform-oriented agenda that has strengthened the Chamber’s governance, ethical standards and engagement with policymakers and regulators. His renewed mandate will focus on converting the progress made during 2025/26 into practical regulatory improvements that support the availability, accessibility and affordability of quality medicines in Sri Lanka.

SLCPI represents more than 70 pharmaceutical importers, manufacturers, distributors and retailers. Its members account for over 90% of Sri Lanka’s private pharmaceutical market, while the wider industry directly employs more than 80,000 people and indirectly supports nearly 400,000.

Reflecting on the past year, Bandara said the industry had operated amid sustained domestic and global pressure. Exchange-rate volatility, disruptions to international shipping routes, rising freight, insurance, fuel and electricity costs, and constrained consumer purchasing power placed significant pressure on pharmaceutical supply chains and business viability.

Despite these challenges, SLCPI continued to engage constructively with the Ministry of Health, the National Medicines Regulatory Authority and other stakeholders, presenting evidence-based recommendations on pharmaceutical pricing, import licence renewals and continuity of supply.

A major achievement during Bandara’s first term was the adoption of new Articles of Association following extensive consultation, legal review and member engagement. The revised Articles provide a stronger constitutional foundation for the Chamber, clarify governance structures and reinforce member rights and responsibilities.

The Chamber also formally launched the SLCPI Code of Conduct, establishing a common framework for integrity, transparency, ethical pharmaceutical promotion and responsible business practices. The Code sets standards for engagement with healthcare professionals, regulators and industry partners, strengthening accountability and public confidence in the sector.

Commenting on his reappointment, Bandara said: ‘The past year was about strengthening the institutional foundations of the Chamber and ensuring that the pharmaceutical industry had a credible and constructive voice. The year ahead must be about translating dialogue into meaningful outcomes. Our priority is to work with the Government, the Ministry of Health and the NMRA to establish a regulatory and pricing environment that protects patient access while ensuring that pharmaceutical suppliers remain viable.’

He added, ‘When the pharmaceutical supply chain comes under sustained pressure, patients are ultimately affected through medicine shortages, reduced availability and fewer choices. Our advocacy is therefore not simply about the commercial interests of the industry. It is about protecting continuity of supply and ensuring that Sri Lankans have reliable access to safe, effective and quality medicines.’

The Chamber will also advocate for regulatory improvements informed by good practices in comparable emerging and neighbouring markets. The objective is to maintain appropriate oversight and quality controls while enabling the industry to operate efficiently and respond to national healthcare needs.

SLCPI will continue implementing its Code of Conduct, strengthening the Pharma Promoters Association and supporting greater professionalism and knowledge development among medical representatives and pharmaceutical professionals. It will also advance a platform for knowledge exchange, ethical discourse and regional collaboration.

‘No single stakeholder can address the challenges facing the healthcare system in isolation. Progress requires trust-based engagement between government, regulators, healthcare professionals, pharmaceutical companies and patient communities. SLCPI will continue to serve as a responsible and solutions-oriented industry partner, advocating with evidence, communicating transparently and placing patients at the centre of our work,’ Bandara said.

Under Bandara’s renewed leadership, SLCPI will continue working towards an ethical, resilient and professionally governed pharmaceutical sector that contributes to a stronger and more sustainable healthcare system for all Sri Lankans.

NUJ Osun condemns violence, hails rescue of Oyo abducted school children

The Nigeria Union of Journalists (NUJ) Osun State Council has condemned the spate of violence threatening to mar the forthcoming election in the state. The body also hailed the successful rescue of abducted school children in Oriire Local Government Area of Oyo State.

These positions of the council, amongst others, were contained in the communique issued and signed by the Communique Drafting Committee of the council at the end of the union’s July 2026 Congress held at its secretariat, Osogbo on Wednesday.

The congress was presided over by the council’s Chairman, Comrade Adeyemi Aboderin.

The Congress thanked Governor Ademola Adeleke for approving permanent employment for 66 freelance staff of the Osun State Broadcasting Corporation, OSBC.

The Council acknowledged what it called ‘the crucial role played by the Senator representing Osun West and the Accord party campaign DG, Akogun Lere Oyewumi, on the absorption of the OSBC casual staff as full employees of Osun State Government.’

It enjoined the beneficiaries to reciprocate by re-dedicating themselves to their duties.

The congress condemned the spate of political violence ahead of the governorship election in the state and urged security agencies, most especially the police to be neutral, adding that ‘there is a need for the police to project their image positively to gain public trust.’

It charged politicians to play by the rules and rein in their supporters, adding that election should not be a do or die affair.

On the August 15 election, the NUJ urged registered voters to collect their PVCs at the INEC designated centers and also charged everyone to reject fear and ensure they vote on Election Day.

It called on the security operatives to guarantee the safety of Journalists in the state, before, during, and after the governorship election.

The Congress commended the Federal Government on the rescue of abducted children and teachers in Orire local government area of Oyo State and urged the Osun State Government to improve on security in schools and boundary areas in the state.

Luistro on Robin’s ‘one-sided’ remark: Impartiality rests with senator-judges

THE House prosecution panel has rejected calls for neutrality in the impeachment trial of Vice President Sara Z. Duterte, stressing that its constitutional role is to advocate for the case, while ‘impartiality rests with the senator judges.’

Lead prosecutor Gerville Luistro made the clarification after Senator-Judge Robinhood Padilla remarked that the prosecution appeared ‘one-sided.’

‘With all due respect to Senator-Judge Robin Padilla, apparently this impeachment trial is adversarial,’ Luistro said.

Luistro, who represents Batangas, explained that impeachment proceedings are inherently adversarial. In such a process, the prosecution is tasked with establishing the case and presenting evidence, while the defense is responsible for protecting the respondent and challenging the claims.

She emphasized that it would be unusual for prosecutors to act neutrally or defend the respondent, adding that neutrality is expected only from the judges. Senator-judges, she said, must remain impartial as they evaluate arguments from both sides before reaching a decision.

Deputy Speaker Janette Garin echoed this view, noting that the House acts as prosecutor after determining that an impeachment complaint meets legal requirements and is backed by probable cause. She added that more than 250 lawmakers voted to impeach Duterte before the Articles of Impeachment were transmitted to the Senate.

Garin, who represents Iloilo, stressed that neutrality lies with the senator-judges, who must carefully hear, analyze, and deliberate on all aspects of the case before deciding.

Private prosecutor Lorna Kapunan also expressed respect for the senator-judges, saying there was no intention to offend Padilla and acknowledging his active participation during proceedings.

‘We’re very appreciative that Senator Robin always brings color and surprise and excitement,’ Kapunan said.

‘There was really no intent to disrespect him,’ she added.

Prosecutors Terry Ridon and Kaka Bag-ao, meanwhile, reiterated that presenting and proving the Articles of Impeachment is their defined role and should not be confused with the impartial duty of the court.

They explained that the prosecution and defense naturally take opposing positions in a trial. They emphasized that this does not undermine fairness, as both sides are given the opportunity to present their arguments before an impartial tribunal.

They clarified that while the prosecution advocates for accountability, the defense is equally free to contest the evidence. Meanwhile, senator-judges are responsible for weighing both sides and deciding based on the record.

The panel also dismissed claims that Padilla’s questions had discouraged them, saying differences in legal interpretation are expected in open proceedings. They maintained that their responses would remain respectful and grounded in the rules of the impeachment court.

Bag-ao, who represents Dinagat Island, added that such exchanges could help the public better understand the roles of the parties and the importance of accountability in the process.

Meanwhile, Luistro also voiced confidence that senator-judges would uphold their constitutional duty of impartiality despite intense public scrutiny. She said questions raised during proceedings-even those that may seem favorable to one side-should be seen as part of efforts to fully understand the evidence.

‘Well, we wish to believe that they remain conscious of their constitutional duty, especially when it comes to maintaining political neutrality. Let’s consider their statements and questions as expressions of curiosity rather than bias,’ Luistro said.

She underscored that Senate rules require decisions to be based on the evidence presented and constitutional standards governing impeachment trials.

Kapunan, for her part, noted that not only the vice president but also the senator-judges are effectively under public scrutiny. She urged Filipinos to carefully evaluate the evidence, testimonies, and conduct of all participants in the trial.

She also reminded the public not to be swayed by perceived bias and instead focus on the facts presented in court, emphasizing that the truth should ultimately prevail.

From rainbow to shame: How xenophobia betrayed the South African dream

South Africa today stands at a dangerous crossroads of its own making. Once celebrated as the Rainbow Nation and the undisputed economic powerhouse of Africa, it now finds itself grappling with the predictable consequences of years of populist politics, economic mismanagement, rising intolerance and self-inflicted diplomatic isolation.

Nigeria, and indeed the rest of Africa, should watch events unfolding in South Africa with keen interest-not out of schadenfreude, but as a lesson in how quickly a nation can squander decades of goodwill and continental leadership.

The recent resurgence of xenophobic policies and sentiments, particularly those targeted at African migrants, has once again exposed the contradiction at the heart of post-apartheid South Africa. A nation that once appealed to the conscience of the world against racial discrimination has increasingly become intolerant of fellow Africans who stood shoulder-to-shoulder with it during its darkest years.

Many appear to have forgotten that Nigeria was among the foremost countries that financed the anti-apartheid struggle. Successive Nigerian governments committed enormous financial, diplomatic and political resources to the liberation of South Africa. Nigerian workers voluntarily contributed through the Southern African Relief Fund. Scholarships were offered. Sanctions against the apartheid regime were vigorously championed. Nelson Mandela himself repeatedly acknowledged Nigeria’s immense sacrifices.

Sadly, the current disposition of sections of the South African political establishment suggests that history has become an inconvenient memory.

Unable to confront the structural causes of unemployment, crime, poor service delivery and widening inequality, some politicians have found an easy scapegoat in foreign Africans. Rather than fixing broken institutions, they have chosen to weaponise nationality. Instead of implementing reforms capable of stimulating economic growth, they have embraced exclusionary rhetoric designed to harvest cheap political capital.

Such politics may deliver temporary applause at campaign rallies, but it rarely solves economic problems.

South Africa desperately needs investment, innovation, skilled manpower and stronger regional integration to revive its struggling economy. Yet, by projecting hostility towards fellow Africans, it risks frightening away the very entrepreneurs, professionals and investors capable of contributing to its recovery.

No country prospers by criminalizing enterprise simply because it is owned by foreigners. No society becomes globally competitive by erecting psychological walls against its neighbours.

The long-term victims of xenophobia are not migrants alone. They are South African workers, businesses, consumers and future generations who inherit a shrinking economy and diminished international reputation.

Already, investor confidence has been weakened by recurring episodes of anti-foreigner violence. Tourism suffers whenever disturbing images of attacks on foreign nationals dominate global headlines. Regional trade relationships become strained. Diplomatic goodwill painstakingly built over decades gradually evaporates.

Perhaps even more damaging is the erosion of South Africa’s moral authority.

A country, that once inspired the world through Nelson Mandela’s message of reconciliation now risks being remembered for periodic outbreaks of intolerance against fellow Africans.

This is not merely a public relations problem. It is a profound leadership challenge.

Africa’s future lies not in isolation but in integration. The African Continental Free Trade Area (AfCFTA) represents one of the continent’s greatest economic opportunities. Its success depends on the free movement of goods, services, capital and people-not periodic campaigns that portray fellow Africans as economic enemies.

South Africa cannot simultaneously aspire to continental leadership while undermining the very spirit of African solidarity upon which such leadership rests.

The economic centre of gravity on the continent is gradually shifting.

Countries like Nigeria, despite their own challenges, are implementing difficult but necessary reforms aimed at attracting investment, strengthening infrastructure, expanding economic opportunities and restoring macroeconomic stability. International investors increasingly evaluate African destinations on the basis of policy consistency, openness and long-term stability.

In this emerging competition, countries that embrace regional cooperation will outperform those consumed by nationalist populism.

South Africa still possesses enormous strengths-world-class financial institutions, sophisticated infrastructure, deep capital markets and exceptional human capital. These advantages, however, cannot indefinitely compensate for poor policy choices and recurring political intolerance.

But there is another side to this conversation that South Africa’s political class would do well to contemplate.

For years, Nigeria and the rest of Africa have responded to repeated episodes of xenophobic violence with remarkable restraint. We have chosen diplomacy over retaliation, Pan-Africanism over populism and brotherhood over bitterness. That restraint, however, should never be mistaken for weakness.

Let us, for a moment, imagine the tables turned.

Suppose Africa, beginning with Nigeria, decided to pay South Africa back in its own coin. Suppose Nigerians demanded reciprocal restrictions on South African businesses and investments. Suppose governments across the continent concluded that if South Africans could discriminate against fellow Africans within their borders, then South African commercial interests should no longer enjoy unrestricted access to African markets.

Who would blink first? The answer is neither difficult nor flattering.

South Africa’s corporate footprint across Africa -and particularly in Nigeria- is one of the pillars of its economic influence on the continent. Companies such as MTN Nigeria, MultiChoice (DStv and GOtv), Stanbic IBTC, Pep, Mediclinic and several South African manufacturing, hospitality and financial services firms have generated enormous wealth from African markets. Nigeria remains one of the largest and most profitable destinations for South African investments, contributing billions of dollars annually to their revenues and shareholder value.

The uncomfortable truth is that these companies have prospered because Nigeria has maintained one of Africa’s most open investment environments. While Nigerians have repeatedly watched fellow Africans brutalised on South African streets, South African businesses have continued to enjoy unrestricted access to our market, our consumers and our economic opportunities.

Now imagine a different scenario.

Imagine Nigerian consumers deciding, through their purchasing choices, to patronise indigenous alternatives. Imagine policymakers reviewing bilateral commercial arrangements through the principle of reciprocity. Imagine governments across Africa insisting that countries unwilling to protect fellow Africans cannot indefinitely expect unrestricted commercial privileges from them.

The consequences would be immediate and profound.

Economically, South African multinational corporations would confront declining revenues, shrinking market share, weakened investor confidence and pressure on their share prices. Reduced earnings from Nigeria and other African markets would reverberate through the Johannesburg Stock Exchange, affect pension funds, constrain future investments and ultimately threaten jobs back home in South Africa. Ironically, the greatest casualties would not be foreign migrants but ordinary South Africans whose livelihoods depend on businesses flourishing across Africa.

Diplomatically, Pretoria’s standing within the African Union and across the continent would suffer a severe blow. A nation that appears unwilling to embrace fellow Africans cannot convincingly claim the moral authority to lead Africa. The immense goodwill earned during the anti-apartheid struggle and the Mandela years could be squandered by the politics of exclusion.

Politically, the consequences would be equally sobering. Leaders who have found electoral convenience in blaming foreigners would soon have to explain to their own citizens why African markets are shrinking, investments are declining, tourism is falling and South Africa is becoming increasingly isolated. Populist rhetoric may win applause at campaign rallies, but it cannot replace lost export earnings or restore damaged diplomatic relationships.

Fortunately, Nigeria has consistently chosen the higher road. Despite repeated provocations, we have resisted the temptation to institutionalise retaliation because we remain committed to the ideals of African unity, mutual respect and economic integration. We understand that two wrongs do not make a right.

Yet, South Africa must never mistake maturity for weakness or goodwill for an inexhaustible resource. Reciprocity remains a cardinal principle of international relations. A nation that expects unrestricted access to African markets while creating a hostile environment for African people within its own borders advances a contradiction that cannot endure forever.

The lesson for Africa is equally clear.

Economic frustration should never become an excuse for xenophobia. Governments exist to solve problems, not manufacture scapegoats. Leadership demands the courage to confront difficult realities rather than exploiting prejudice for political gain.

As Nigerians, we must continue to resist the temptation of bitterness or reciprocal hostility. Our relationship with South Africa transcends temporary political tensions, and millions of ordinary South Africans reject xenophobia and continue to value the historic bonds between our peoples.

Nevertheless, friendship also demands honesty.

South Africa must rediscover the values that once made it a beacon of hope across Africa. It must reject the politics of division, rebuild trust with its neighbours and embrace the inclusive economic vision capable of restoring its continental leadership.

Until then, the greatest casualty of xenophobia will not be the African migrant seeking opportunity.

Exam leaks, job crisis ignite biggest protest against Modi’s third term in India

Thousands of students and young people have taken to the streets across India in the biggest public challenge to Prime Minister Narendra Modi’s government since he secured a third term, with protests initially sparked by a medical entrance examination scandal but now reflecting broader anger over unemployment, governance and the country’s education system.

The protesters are demanding the resignation of Education Minister Dharmendra Pradhan after authorities cancelled the National Eligibility cum Entrance Test (NEET), India’s highly competitive medical entrance examination, following the discovery of a question paper leak. Nearly two million students sat for the exam in May before it was scrapped, throwing admission plans into uncertainty and fuelling nationwide outrage. Several student suicides have also been linked to the examination crisis, intensifying calls for accountability.

What began as anger over the NEET scandal has evolved into a wider youth movement known as the ‘Cockroach’ movement, with demonstrators arguing that repeated examination leaks expose deep-rooted corruption and inefficiency in India’s recruitment and education systems. Protesters say years of cancelled examinations, paper leaks and delayed recruitment have robbed millions of young Indians of fair opportunities for education and employment.

Another major driver of the protests is India’s worsening youth unemployment. While the country remains one of the world’s fastest-growing major economies, many graduates struggle to find quality jobs. Demonstrators say economic growth has failed to translate into employment opportunities, leaving educated young people frustrated about their future. The movement has therefore broadened its demands beyond education reforms to include greater transparency, job creation and improved governance.

The protests gained further momentum after activist Sonam Wangchuk, who had been on a hunger strike in support of students, was removed by police and taken to hospital ahead of a planned march to Parliament. Thousands of supporters subsequently converged on New Delhi despite authorities denying permission for the demonstration. Clashes broke out when police used batons and tear gas to disperse crowds attempting to breach barricades, leaving scores of protesters and security personnel injured.

Opposition parties have backed the demonstrations, accusing the Modi administration of failing India’s youth and demanding sweeping reforms to the examination system. The government has pledged action against those responsible for the paper leak and promised reforms, but protesters insist cosmetic measures will not address systemic failures that have undermined public confidence.

Political analysts say the movement has become a symbol of wider discontent among India’s young population, who account for more than half of the country’s 1.4 billion people. With Parliament in session and key state elections approaching, the protests are expected to keep pressure on the Modi government as demands grow for accountability, educational reforms and better employment prospects for millions of young Indians.

Negros Oriental under state of calamity amid RSSI infestation

Negros Oriental has been placed under a state of calamity due to the infestation of red-striped soft scale insect (RSSI) on sugarcane plantations.

The declaration of a state of calamity was approved on Monday by the Sangguniang Panlalawigan based on the recommendations of the provincial disaster risk reduction and management council, according to Vice Gov. Cezanne Fritz Diaz.

Data from the Sugar Regulatory Administration (SRA) showed that about 1,900 of the 48,901 hectares of sugarcane farms in the province have been destroyed by the pest.

The declaration of a state of calamity authorizes the provincial government to tap its quick response fund to assist sugarcane farmers displaced by the infestation and undertake pest containment operations.

An initial amount of P15 million has been allotted to address the problem.

The SRA said the infestation has affected more than 78,000 hectares of sugarcane plantations across Negros Island.

On June 30, the nearby province of Negros Occidental declared a state of calamity after the RSSI ravaged over 32 percent of the province’s sugarcane plantations.

Negros Occidental Gov. Eugenio Jose Lacson earlier said the provincial government ruled out aerial chemical spraying using large aircraft to eradicate the pest.

Lacson said the provincial government opted for biological and eco-friendly pest control methods due to public health and environmental concerns.

But he clarified that the refusal of the provincial government to fund the chemical spraying does not mean an outright ban on the initiative.

Lacson said he would leave it to city and municipal officials to decide which pest containment operation is best for their communities.

He said that entities wishing to finance aerial spraying may do so, provided they first secure the approval of the mayors.

In the meantime, Lacson said the provincial government will proceed with the biological control initiative.

He said that initial spraying of biological and eco-friendly pest control would start tomorrow in some areas in the province.

Earlier, the SRA said that although sustainable, the biological and eco-friendly pest control cannot stop the rapid spread of RSSI.

Kuwait says drone attack hits Iraq border crossing

Kuwait’s Defense Ministry said on Thursday that “hostile drones” attacked the Al-Abdali border crossing with Iraq around midday today, causing material damage but no casualties, AzerNEWS reports.

Military spokesperson Col. Saud Abdulaziz Al-Atwan said emergency teams immediately secured the site while Land Forces inspection and explosive ordnance disposal teams also swept the area and removed drone debris, ensuring the crossing was free of hazards.

The ministry did not identify those responsible for the attack or specify the extent of the damage. The border crossing is located about 125 kilometers from Kuwait City and about 60 km from the Iraqi city of Basra.

H1 NG deficit at ?786.8B; fiscal space narrows

THE national government ran a P786.8-billion fiscal deficit in the first half of the year, slightly lower than the target, although fiscal space is becoming ‘increasingly constrained.’

The budget hole widened by 2.79 percent to P786.8 billion from January to June, from P765.5 billion in the same period a year ago, the Bureau of the Treasury reported on Thursday.

Revenue collections reached P2.388 trillion in the first half, while spending on infrastructure, food security and support for local governments pushed expenditures to P3.175 trillion.

Treasury data showed that revenue collections went up by 5.67 percent year-on-year from P2.260 trillion, though 0.01 percent below the P2.389 trillion mid-year target.

Tax revenues rose by 5.38 percent to P2.142 trillion from P2.032 trillion last year. However, this fell short of the P2.158 trillion program by 0.77 percent, or P16.6 billion.

This came after the Bureau of Internal Revenue (BIR) missed its P1.654-trillion target, collecting P1.631 trillion in the first half. Still, this represented growth of 4.96 percent from the P1.554 trillion in the same period a year earlier.

The Treasury said the improvement in collections was driven by higher collections from corporate income tax, personal income tax, value-added tax (VAT), other percentage taxes and miscellaneous taxes.

Meanwhile, the Bureau of Customs (BOC) exceeded its P484.8-billion target by 1.45 percent after collecting P491.9 billion in customs duties and taxes. This was also 7.21 percent higher than the P458.8 billion it collected in the comparable period last year.

Higher oil prices benefited the BOC, as its VAT collections jumped by 10.34 percent, the Treasury said. This offset the 2.73-percent dip in excise tax collections due to lower oil import volumes and the temporary suspension of excise tax on liquefied petroleum gas and kerosene.

‘Revenue growth continued to be driven by tax collections, although BIR collections reflected the impact of softer domestic economic activity,’ Chinabank Chief Economist Domini S.D. Velasquez said.

‘This was more than offset by stronger BOC collections, supported by higher oil prices, a weaker peso, and the resulting increase in import VAT collections,’ Velasquez added.

Non-tax revenue collections also increased by 8.26 percent year on year to P246.5 billion and surpassed the P230.2-billion midyear target by 7.09 percent on the back of better-than-expected Treasury income. Treasury income registered a 25.79-percent increase in the first half, rising to P182.7 billion from P145.3 billion in the same period last year.

‘The Department of Finance remains confident in the abilities of the revenue-generating agencies to meet their targets in the second half of the year,’ Finance Secretary Frederick D. Go said.

Govt spending

Treasury income registered a 25.79-percent increase in the first half, rising to P182.7 billion from P145.3 billion in the same period last year.

‘The Department of Finance remains confident in the abilities of the revenue-generating agencies to meet their targets in the second half of the year,’ Finance Secretary Frederick D. Go said.

Govt spending

Year-to-date expenditures grew by 4.94 percent to P3.175 trillion from P3.026 trillion in the comparable period last year and were slightly below the P3.177-trillion spending program.

Interest payments climbed by 16.60 percent year on year to P483.7 billion in the first half from P414.8 billion. This was also 1.58 percent below the P491.5-billion program.

Primary expenditures, meanwhile, rose by 3.09 percent to P2.691 trillion from P2.611 trillion last year and exceeded the P2.685-trillion program.

‘The government still has room to continue pump-priming the economy in the second half of the year while remaining within its fiscal targets,’ Velasquez said.

‘That said, fiscal space is becoming increasingly constrained. As such, we expect public spending to be focused on high-multiplier investments, particularly infrastructure and labor-generating projects, which are likely to provide the greatest boost to growth while preserving fiscal sustainability,’ she added.

Letran repels Enderun to complete Shakey’s volleyball semis cast

Reigning NCAA champion Letran turned it on late to thwart the gritty Enderun Colleges, 21-25, 25-21, 25-14, 14-25, 15-4, and complete the Final Four cast in the 2026 Shakey’s Collegiate National Invitationals Thursday at the Ninoy Aquino Stadium in Manila.

Judiel Nitura and Reeza Abayon joined forces down the stretch, igniting a 5-0 start en route to a dominant finish as the Lady Knights capped their campaign at 2-3 to catch the last semis bus.

Letran will take on the top-ranked UST, while NCAA runner-up St. Benilde and Australia’s Southern Storm Melbourne clash in the other semis pairing Friday.

‘Ang sinasabi ko lang sa kanila na kung ano ang itinuturo ni coach ‘yun ang dapat gawin at sundin namin. Nag-adjust kami paunti-unti kaya nakuha namin ang panalo,’ said playmaker Hizki Flores, who stabilized Letran’s offense in the decider to finish with 16 sets.

Abayon paced the Lady Knights with 17 points on 15 hits while Nitura added 14 markers, including three in Letran’s 10-3 runaway in the fifth set.

Althea Botor (14) led the way while Jasmine Salvani and Ederlyn Alba had eight and seven points, respectively, for the Lady Titans, who wrapped up their run at 1-4.

erun and Ho Chi Minh City Volleyball Club of Vietnam will battle in the classification match also Friday before the Final Four.