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DTI: Prices of 190 basic goods to stay unchanged until yearend

THE Department of Trade and Industry (DTI) has assured consumers that suggested retail prices of 190 monitored basic necessities and prime commodities will remain unchanged until December 31, 2026, citing sufficient supplies nationwide.

The commitment covers products included in the agency’s official suggested retail price (SRP) bulletin, which serves as a guide for consumers and retailers.

The DTI said adequate supplies would help keep prices stable through the remaining months of the year, when household spending typically increases ahead of the Christmas holidays.

The price commitment, however, does not cover all products sold in supermarkets and public markets.

Fresh vegetables, fruits and other agricultural commodities not included in the DTI bulletin may continue to experience price fluctuations depending on supply, weather conditions and transportation costs.

The distinction is particularly relevant as consumers contend with rising living costs and the prospect of dry weather associated with El Niño, which could affect agricultural production in the coming months.

The DTI monitors prices of basic necessities and prime commodities to help protect consumers against unjustified increases and ensure that retailers follow applicable pricing regulations.

Consumers are encouraged to consult the agency’s latest SRP bulletin when comparing prices of covered products.

The government’s assurance comes as households prepare for the yearend holiday season, when demand for food and other essential goods traditionally increases.

Constantino finds second wind to top LPGT finale at Apo

Running low on motivation after an exhausting season that had taken her to nearly 20 tournaments, Harmie Constantino appeared to have little left in the tank. But when the final round demanded one last fight, the multi-titled campaigner found a fresh reserve of resolve – and turned a potentially wild, down-to-the-wire finish into a commanding two-shot triumph in the season-ending Ladies Philippine Golf Tour event here on Thursday.

Constantino overcame a two-shot deficit, shrugged off an early miscue and ignited her charge with a string of birdies, including three straight from No. 5. What initially shaped up as a volatile duel for the crown gradually tilted in her favor as she stayed patient, kept her shots under control and watched her chief rival falter under pressure.

She closed with a 69 for a 54-hole total of 213, capping a stirring comeback that belied her recent admission that the grind of a long campaign had drained her motivation. By the finish, she had transformed a tight leaderboard battle into a two-shot victory over Korean Kim Seoyun, who faltered with a 73 and a 215.

The turnaround was all the more striking given how the final round began. Kim, tied with Chanelle Avaricio after 36 holes, initially seized control despite opening with two bogeys, answering with three consecutive birdies from No. 6. Avaricio, meanwhile, stumbled with three bogeys on the front nine and never recovered.

Avaricio faded with a 76 and dropped to joint third at 218 with Yvon Bisera and Princess Superal, who shot 71 and 74, respectively.

Constantino, playing in a separate flight, began to make her move with her birdie run from No. 5. As the contenders traded blows, the prospect of a dramatic finish remained very much alive. But the complexion of the championship changed on the back nine, where Constantino’s steady play contrasted sharply with Kim’s unraveling challenge.

Kim bogeyed three of the first four holes coming home, opening the door for Constantino to stretch her lead to as many as three strokes. The Korean managed a birdie on the final hole, but it was too little, too late to prevent Constantino from securing the title.

For Constantino, the victory was less about a sudden swing change than a decision to trust her game and resist the temptation to force the issue.

‘I think it’s a hard question,’ she said when asked how she had summoned the energy to contend after admitting she was exhausted and had run out of motivation following a season of close to 20 tournaments.

‘I think I just tried to fight through it. I saw that I was hitting it well and I had a good chance. So, I just kept trying to fight through it,’ she said.

Asked what had changed to help her rediscover her form, Constantino pointed not to a major adjustment but to patience and discipline.

‘Not, not a lot of changes. I think I just stayed very, very patient. I didn’t force a lot of shots and I didn’t really force hitting pins and, you know, that stuff. So, yeah, I think that’s what helped a lot today,’ she said.

Even as her game clicked into gear, the eventual victory came as a surprise.

‘Yeah, a bit. I didn’t really expect it since I wasn’t really contending this morning. But I stayed patient throughout,’ she said.

‘It feels good to win again. I’ve been working on my game,’ added Constantino, who thanked Empire, Titleist and Transview Elite, along with her parents, for their unwavering support and belief in her.

The victory, worth P162,500, was her second in the season, following her runaway triumph at Caliraya Springs, and provided a fitting finish to a campaign in which she had to contend not only with the demands of competition but also with her own doubts and dwindling drive.

Meanwhile, Yvon Bisera, who had already won legs at Lakewood and Pradera Verde, produced one of the day’s defining moments with a hole-in-one on the 165-yard No. 17 using a pitching wedge and Pro VI ball. The ace, worth P20,000 from the organizing Pilipinas Golf Tournaments Inc., helped her salvage a 71, finish in a tie for third at 218 with Superal and Avaricio, who missed her bid for back-to-back closing titles after topping the South Pacific leg last week.

Constantino’s own victory came without the customary final-hole fanfare. Playing in the second-to-last group, she completed her round with a three-under card and watched the final flight finish its work before celebrating quietly behind the 18th green, where co-players and supporters drenched her in a spontaneous shower of water.

It was a subdued ending to a triumph that had been anything but ordinary: a player who had openly acknowledged her fatigue and loss of motivation found the patience to fight through one last test, then delivered when the opportunity came. What had threatened to become a nerve-racking scramble for the crown instead became a composed, convincing finish.

Davao City’s rising star Johanna Uyking, meanwhile, carded a second consecutive 75 to finish tied for eighth at 224. She secured low amateur honors, earning P40,000 worth of gift certificates. (Pool story)

Speed vs. due process: First key battle in Duterte ICC trial

JUDGES of the International Criminal Court (ICC) are being asked to allow some witness statements in the case against former Philippine President Rodrigo Duterte to be admitted without full courtroom testimony, a move prosecutors say would speed up the proceedings.

Duterte’s lawyers oppose the request for key witnesses, arguing that the former president must be allowed to challenge evidence that directly implicates him.

The dispute highlights a key question facing the court as it prepares for trial in The Hague: how to keep proceedings moving while protecting Duterte’s right to cross-examine witnesses.

At the center of the debate is Rule 68 of the ICC Rules of Procedure and Evidence, which allows judges under certain circumstances to admit previously recorded testimony.

Prosecutors are invoking Rule 68(2)(b), which permits written statements on matters that do not directly concern the accused’s alleged conduct, and Rule 68(3), which allows written testimony while preserving the opportunity for questioning in court.

The Office of the Prosecutor is seeking to admit several witness statements in writing, arguing that they provide background on the alleged anti-drug campaign rather than direct evidence of Duterte’s actions.

‘The Prior Recorded Testimonies…do not concern the acts and conduct of the Accused,’ prosecutors said in a filing. Instead, they deal with the broader context of the alleged crimes and policies behind them.

Acting Prosecutor Mame Mandiaye Niang argued that admitting the statements would ‘enhance the expeditiousness of the proceedings, obviate the unnecessary appearance of the witnesses, save valuable court time and resources, and serve the interests of justice.’

For other witnesses, prosecutors have proposed a compromise under Rule 68(3): their written statements would be admitted into evidence, but they would still appear in court for limited questioning and cross-examination.

Prosecutors said this approach is ‘not prejudicial to or inconsistent with the rights of the Accused’ because the witnesses would remain available for questioning by both the defense and the judges.

Duterte’s defense team, led by Peter Haynes KC, agrees that the proceedings should be efficient, citing the former president’s age and health condition.

‘The Defence supports the use of Rule 68[2][b] to expedite the trial, particularly in light of Mr Duterte’s age and frailty,’ Haynes said. ‘However, procedural efficiency must not come at the expense of his fundamental right to defend himself effectively.’

The defense has raised no objection to some witnesses whose testimony is limited to background information. However, it opposes admitting the statements of two witnesses without live testimony.

According to defense filings, one witness allegedly links killings to a system of rewards and quotas, while another is a key witness in one of the charged murder incidents.

‘Defense cross-examination is required to test the witness’s credibility and ability to provide relevant evidence capable of assisting the Chamber in establishing the truth,’ Haynes wrote, arguing that the allegations should be tested in open court.

The defense also described another witness as ‘a key witness’ who provides information ‘that no other witness identified by the Prosecution is in a position to supply,’ and argued that admitting the testimony without cross-examination ‘would compromise the rights of the accused.’

Representing 539 participating victims, the Common Legal Representatives of Victims supported the prosecution’s request, saying written testimony could help protect witnesses from re-traumatization and reduce the burden of repeated court appearances.

‘Their participation gives human meaning to the crimes before the Court,’ the victims’ lawyers said. ‘These proceedings concern not only the determination of individual criminal responsibility, but also the victims whose lives have been irrevocably affected by the crimes alleged before the Court.’

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The victims’ representatives also argued that the proceedings offer families an opportunity to establish the truth and seek accountability.

‘For the victims, the proceedings before this Court constitute a rare and indispensable source of hope,’ they said, expressing hope that the truth would be established and the suffering of victims acknowledged.

The filings provide an early indication of how both sides intend to present their case. Prosecutors are seeking to establish the broader context and alleged policies behind the killings, while the defense is focused on challenging evidence that directly links Duterte to the crimes charged.

Trial Chamber III, composed of Judges Joanna Korner, Keebong Paek and Nicolas Guillou, is expected to rule on the contested witness statements before trial proceedings start on November 30.

The ruling will not determine Duterte’s guilt or innocence, but it will shape how evidence will be presented in one of the ICC’s most closely watched cases involving a former head of state.

Mastercard, Interswitch brings Google Pay to Nigeria

Mastercard and Interswitch have launched Google Pay in Nigeria, allowing eligible Mastercard cardholders to make digital payments using compatible Android devices, as the country’s electronic payments market continues to expand.

This implies that eligible Mastercard holders can use compatible Android devices for digital payments, as Google expands its payment services into Nigeria.

The launch of Google Pay in Nigeria at Moonshot by Techcabal, introduces another payment option for Nigerian consumers which enables them to add supported cards to Google Wallet and use their devices to pay at participating merchants and supported contactless terminals, subject to card, device and merchant compatibility.

The service uses Mastercard’s tokenisation technology, which replaces sensitive card details with a unique digital credential to help protect payment information during transactions.

However, access is limited to eligible cards issued by participating banks. Google’s published support list identifies Mastercard debit cards from FirstBank and Guaranty Trust Bank, Mastercard credit, debit and prepaid cards from Zenith Bank, and Mastercard credit, debit and prepaid cards from United Bank for Africa. Not every Mastercard issued in Nigeria is therefore eligible.

The rollout also depends on the availability of compatible devices and payment terminals, meaning consumers may not be able to use the tap-to-pay feature at every merchant.

Kari Tukur, country manager for West Africa at Mastercard, said the collaboration responds to growing demand for payment services that combine convenience with security.

‘Consumers expect payment experiences that are simple, secure and seamlessly integrated into their daily lives,’ Tukur said, adding that the partnership with Google would give eligible cardholders a way to pay while keeping their card details protected.

Olumide Balagon, Google’s country director for West Africa, said the launch would expand access to digital payment tools in a market he described as being at the forefront of financial innovation in Africa.

Google Wallet allows users to store supported payment cards and other digital items, while Google Pay facilitates payments through supported services and merchants.

Interswitch supported the rollout by working with Mastercard to connect multiple card issuers to the tokenisation and payment-processing infrastructure required to offer the service.

Akeem Lawal, managing director of Payment, Switching and Processing at Interswitch, said the company’s work on issuer connectivity and payment processing had helped establish the infrastructure needed to support mobile wallets and contactless payments.

The launch comes as Nigeria’s electronic payments market continues to expand. For banks, the service offers another channel through which to engage cardholders and extend digital payment options.

Merchants with compatible contactless terminals could also serve customers who prefer paying with their phones rather than physical cards.

The launch adds to the range of digital payment services available in Nigeria, but its reach will depend on how many banks enable eligible cards, how widely compatible payment terminals are deployed and whether consumers adopt phone-based payments for everyday purchases.

Ministry of Commerce supports businesses participation in five international exhibitions in 2027

A new de minimis aid scheme for Cypriot businesses to participate in five international trade fairs in the services sector, including technology, with a national pavilion organised by the Ministry of Commerce and Energy’ has been approved by the Cabinet.

According to a press release issued by the Ministry of Commerce, the maximum amount of de minimis aid per beneficiary and per exhibition may be up to pound 13,450 and covers the costs of renting the exhibition space, the costs of constructing and equipping the stand, the participation fee, and the costs of installing and consuming electricity and water, as well as the cost of interpreting services for the stand.

The exhibitions cover the sectors of technology and innovation, investment fund management, aircraft maintenance and shipping. Specifically, the exhibitions are the GITEX AI Serbia 2027, to be held on 25-27 May in Belgrade and focusing on artificial intelligence and innovation; FundForum International 2027, on 22-24 June in Monte Carlo, in the field of investment fund management, and GITEX Global 2027, scheduled for the fourth quarter of the year in Dubai and focusing on technology and innovation. Also MRO Europe 2027 exhibition is included, taking place on 19-21 October in Amsterdam, in the field of aircraft maintenance and repair, and Marintec China 2027, from 30 November to 3 December in Shanghai, in the field of shipping and maritime services.

As stated in the press release, “by organising the national pavilion at these exhibitions, on the one hand, Cyprus is promoted as a business hub in the sectors of technology, innovation, aircraft maintenance, investment fund management and shipping; and, on the other hand, it provides an opportunity for Cypriot service providers to showcase their services and capitalise on networking and business collaboration opportunities with both exhibitors and trade visitors.”

Legal entities (companies) operating in sectors relevant to the theme of the respective exhibition are eligible to apply for the Scheme. It should be noted that the maximum amount of de minimis aid per beneficiary and per exhibition (up to pound 13,450) covers, amongst other things, the costs of renting the exhibition space, the costs of constructing and equipping the stand, the participation fee, and the costs of installing and consuming electricity and water, as well as the cost of interpreting services for the stand.

As stated by the Ministry of Trade, those interested may refer to the information guide (www.gov.cy/media/2026/10/29102026_ypenergiasAitisisOdigos.pdf) for further details.

Applications may be submitted in person, by post via registered letter or by private courier by 27 November 2026.

Reps move to review NCC’s phone verification rules

The House of Representatives has resolved to review the implementation of the Nigerian Communications Commission’s (NCC) mobile phone device verification requirements amid concerns that the policy could increase phone prices and restrict access to affordable devices.

The resolution followed a motion sponsored by Hon. Sani Adamu Wakili who drew attention to the potential implications of the enhanced verification framework for importers retailers and consumers.

The House noted that the NCC was strengthening enforcement of Type Approval and device verification requirements for mobile phones and other SIM-enabled devices through the Device Management System (DMS) and the Central Equipment Identity Register (CEIR).

The systems facilitate the identification and verification of mobile devices through their International Mobile Equipment Identity (IMEI) numbers.

Lawmakers expressed concern that the enhanced verification framework which took effect on October 7 2026 could impose additional compliance costs on importers and retailers potentially resulting in higher prices for mobile phones.

The House also warned that technical errors database mismatches or limitations in the NCC’s scanning and verification systems could lead to legitimate new and second-hand mobile phones being rejected or blocked.

It further observed that the cost and complexity of compliance could disproportionately affect small-scale importers and retailers disrupt legitimate trade and make affordable mobile phones less accessible to low-income Nigerians.

According to the lawmakers mobile phones remain essential tools for communication education and business making affordability and access important considerations in implementing the regulatory framework.

While acknowledging the NCC’s legitimate objective of combating counterfeit cloned and stolen devices the House stressed the need to protect legitimate businesses and ensure that Nigerians retain access to affordable mobile phones.

Consequently the House urged the NCC to review the implementation of the device verification framework in consultation with relevant stakeholders with a view to simplifying procedures and reducing compliance costs.

It also called on the commission to establish a fair and accessible verification process for used and second-hand mobile phones to prevent legitimate devices from being unfairly rejected or blocked.

To facilitate further legislative action the House mandated its Committees on Communications and Commerce to engage the NCC and other relevant stakeholders on the implementation of the framework and report back within four weeks.

The Committee on Legislative Compliance was also mandated to ensure compliance with the resolution.

The proposed review is expected to provide an opportunity for lawmakers and industry stakeholders to examine the implementation of the verification requirements and address concerns over their potential effects on consumers and businesses.

Hino 200 Series brings practical possibilities, bigger opportunities for Filipino entrepreneurs

At PITS 2026, Hino highlights practical commercial vehicle applications for Filipino entrepreneurs.

Hino Motors Philippines Corp. (HMP) highlighted the business versatility of its Hino 200 Series at the 1st Philippine International Truck Show (PITS) 2026, featuring chef and content creator Ninong Ry, who shared how he uses the vehicle for his mobile kitchen concept.

The showcase demonstrated how Hino’s commercial vehicles can be adapted to different business needs, reinforcing the brand’s commitment to providing practical transport solutions for Filipino entrepreneurs and enterprises.

Held from October 22 to 24 at the SMX Convention Center Manila, PITS 2026 brought together truck manufacturers, body builders, and industry stakeholders to showcase vehicles and solutions for the country’s evolving transport and logistics sector.

During its Day 2 booth program on October 23, Hino featured the Hino 200 Series Utility Van, demonstrating its potential for businesses that require practical cargo transport solutions. The exhibit also featured other commercial vehicle offerings, including the Hino 500 Series Tractor Head, Hino PUV Class II Wide, and a Customized Rescue Truck, highlighting the brand’s range of solutions for different transport and operational requirements.

Adding a personal and engaging dimension to the program was content creator and chef Ninong Ry, who joined Hino for a special booth appearance featuring an interview and a brief mobile kitchen review. ‘Sa negosyo, importante na maaasahan mo ang gamit mo araw-araw. With my Hino 200 Series, nagagawa kong i-customize ang space para sa mobile kitchen ko at mas maihatid ang concept ko sa mga tao. Malaking bagay na may sasakyan kang puwedeng iangkop sa pangangailangan ng negosyo mo,’ said Ninong Ry.

Drawing from his own experience using a Hino 200 Series for his mobile kitchen, Ninong Ry demonstrated how a commercial vehicle can be customized to support a specialized business application. His participation highlighted the versatility of commercial vehicles and how the right vehicle configuration can help entrepreneurs bring their business ideas to life. With a small 4.7-meter turning radius, the Hino 200 Series is built for agile maneuvering, making it an ideal transport partner for businesses navigating tight streets. At the heart of the Hino 200 Series is the Toyota 1GD-FTV Euro 4 diesel engine, delivering 144 PS of power and 300 N.m of torque across a wide 1,200-3,200 rpm range for reliable performance. With a gross vehicle weight of 3,490 kg. and 3,800 kg., the Hino 200 Series 315 model falls under the N1 category, making it suitable for drivers with a non-professional license.

The activity also provided an opportunity for visitors to learn more about Hino’s commercial vehicle offerings and their potential applications across different industries.

Reinforcing Hino’s Total Support Commitment

Beyond its vehicle showcase, Hino emphasized its Total Support philosophy, which underscores the company’s commitment to supporting customers throughout their vehicle ownership journey through dependable products, aftersales service, and parts support.

‘For Hino, Total Support means building a long-term partnership with our customers. We understand that reliable transportation is essential to keeping businesses moving and operations running efficiently,’ said Maki Yamazaki, President of Hino Motors Philippines Corp.

‘Our commitment goes beyond providing vehicles. We aim to deliver practical transport solutions backed by aftersales service and parts support, helping our customers maximize vehicle uptime and focus on growing their businesses,’ Yamazaki added.

Through its participation in PITS 2026, Hino reinforced its position as a business partner committed to addressing the diverse transportation needs of Filipino enterprises. By showcasing its commercial vehicle lineup and highlighting its Total Support philosophy, the company continues to demonstrate its commitment to helping businesses move forward with practical, customer-focused solutions.

About Hino Motors Philippines Corporation

Hino Motors Philippines Corporation (HMP) is primarily engaged in the exclusive assembly and distribution of quality Hino trucks and buses, the distribution of genuine Hino spare parts, and the manufacturing and distribution of other automotive-related products and services in the Philippines.

Originally incorporated in March 1975 under the name Pilipinas Hino, Inc. (PHI) before it changed its name to HMP in 2015, the company was a joint venture among Filipino investors, Hino Motors, Ltd., and the Marubeni Corporation of Japan.

President Christodoulides, Abbas stress need for security and peace in region

Cyprus President Nikos Christodoulides and Palestinian President Mahmoud Abbas on Thursday stressed the need to establish conditions of security and stability in the region and achieve peace during their meeting at the Presidential Palace in Nicosia. Abbas referred to the ‘excellent relationship’ between the Republic of Cyprus and the Palestinian people, as well as the excellent relations Cyprus ‘rightly’ maintains with Israel, adding that Nicosia could play a role in mediating between the two sides on the basis of a political solution grounded in international law and United Nations Security Council resolutions.

‘The Republic of Cyprus is part of the solution to the problems in the region,’ President Christodoulides said as he welcomed the Palestinian President, adding that Nicosia was ‘at Palestine’s disposal to play any role that you consider necessary for the Republic of Cyprus to fulfil, in order to achieve our common goals.’

Speaking through an interpreter, Abbas said that, for many years, the Palestinian side had ‘extended our hands to the Israeli side in order to reach a settlement and achieve peace.’ He called on President Christodoulides to enable Cyprus, ‘as a neighbouring country’, to play a role in ensuring that peaceful discussions with Israel’s new government produced the desired positive results.

President Christodoulides welcomed Abbas to the Presidential Palace shortly before noon, after which the two leaders held a private meeting.

According to a statement issued by the Presidency, President Christodoulides said he was particularly pleased to welcome Abbas to Cyprus following his two visits to Palestine in 2023 and 2025.

‘Our relations have always been excellent,’ he said, noting that the Republic of Cyprus had recognised Palestine in 1988 and that Cyprus’ position on resolving the Palestinian issue was ‘clear’ and based on the agreed framework of United Nations resolutions.

At the same time, he said, ‘there are developments today that highlight both the importance we attach to our relations and our commitment to creating conditions of security and stability in our region.’

He said that most of the Republic of Cyprus’ humanitarian assistance was directed to Palestine, while that Palestine made use of the CYCLOPS centre in Larnaca to train Palestinians.

Palestine had also recently participated in a seminar at the aerial firefighting centre established by the Republic of Cyprus and the European Union in Paphos, he said.

‘Your visit comes at a very important juncture for our region. I look forward to our discussions and the exchange of views on how we can work together, always taking a positive approach, to create conditions of security and stability in the region,’ President Christodoulides told Abbas.

The Republic of Cyprus, he added, ‘is part of the solution to the problems in the region’ and was ‘constantly working with this positive approach’. ‘And, of course, we are also at Palestine’s disposal to play any role that you consider necessary for the Republic of Cyprus to fulfil, in order to achieve our common goals,’ he said.

For his part, Abbas thanked President Christodoulides for the invitation and the warm welcome in Nicosia.

He noted that Cyprus had recognised Palestine in 1988, ‘at a very early stage and without us even asking’, adding that this reflected the Republic of Cyprus’ clear support for the legitimate rights of the Palestinian people.

Abbas also expressed ‘warm thanks to the Republic of Cyprus for its humanitarian and political support for the Palestinian people and the Palestinian cause’.

‘We are concerned about the security of the region, including security with the Israelis. We do not want military tensions or conflicts, and we want the problem to be resolved based on Security Council resolutions and international law, for the benefit of the entire region,’ he said.

Abbas added that the Palestinian side had adopted a slogan it was not ashamed to proclaim openly: ‘We support peaceful popular resistance, which expresses the Palestinian people’s protest when their rights are violated.’

He said that, following their private meeting, the two leaders would have an opportunity to exchange views on the situation and ‘the severe hardships’ endured by Palestinians in the Gaza Strip, the West Bank and East Jerusalem, which, he said, was ‘the legitimate capital of the Palestinian state under international resolutions’.

‘For many years, we have extended our hands to the Israeli side in order to reach a settlement and achieve peace, not only between the Palestinian people and the Israelis, or between Palestine and Israel, but also between Israel and neighbouring Arab countries, for the benefit of the entire region and the world,’ Abbas said.

Referring to the recent Israeli elections, Abbas said the Palestinian side was awaiting the final results and the formation of the new political landscape. Once Israel’s new government had been formed, he said, Palestine would be ready to discuss peace with it.

He also said that Nicosia, could support Palestinians ‘given your good intentions and the fact that you are a neighbouring country with a friendly people’ by playing a role in ensuring that these peaceful discussions produce the desired positive results.

The two leaders later attended a working lunch with members of their respective delegations.

During the lunch, President Christodoulides reiterated that the Republic of Cyprus was ready to play ‘any role that you consider we can fulfil in promoting cooperation in our region.’

He said that, as the EU member state in the region, Cyprus conveyed the concerns of regional countries to Europe while also representing the EU in the region.

‘We cannot change geography, which is why we must all work together on the basis of a positive agenda and a positive approach to achieve our common goals,’ he added.

Abbas, speaking through an interpreter, said he felt at home in Cyprus because the Palestinian people felt not only a geographical closeness to the Cypriot people but also warmth and an existential, human bond with them.

He noted that there had recently been ‘major developments’ in Europe’s position on the Palestinian issue, citing Spain, France, Germany, Italy and the Netherlands as countries whose positions had become almost identical to that of Palestine.

‘This makes us particularly happy, because Europe as a whole can play an important role in resolving the issue and achieving peace in the region, as well as playing a role for the benefit of the countries of the region,’ he said.

Referring to the role Cyprus could play, Abbas said Nicosia could make a very important contribution.

‘I will not dwell on the excellent relationship between the Palestinian people, the Cypriot people and the Republic of Cyprus, but you also have excellent relations, rightly so, with Israel. Therefore, you can play a role in mediating between the two sides on the basis of a political solution grounded in international law and United Nations Security Council resolutions,’ he said.

Sri Lanka joins Orange Movement, opens access to $ 500 m funding pool by 2030

Sri Lanka yesterday formally joined the global Orange Movement as the Colombo Stock Exchange (CSE) and the Impact Investment Exchange (IIX) signed an MoU to bring Orange Bonds into the local capital market.

Orange Bonds channel capital to gender equality and climate resilience. The CSE also announced completion of the framework for the country’s first two Orange Bonds, with issuance targeted by December 2026. Alliance Finance Company PLC, named by CSE CEO Rajeeva Bandaranaike as the first issuer, plans to raise Rs. 1 billion through Orange Bonds, while the second company is still working out details.

The MoU was signed at the Orange Economy Summit 2026 in Colombo, convened by IIX with the Lanka Impact Investing Network (LIIN) and the CSE. The summit brought together senior Government representatives, capital market regulators, development partners, investors and financial institutions.

The MoU integrates the Orange Bond Principles into the CSE’s Green, Blue, Social, Sustainability and Sustainability-Linked (GSS+) Bond regulatory framework, which became effective last year and is based on principles of the International Capital Market Association. This allows future issuers to access the Orange Bond market through existing listing infrastructure, removing a structural barrier to market growth.

IIX also launched a research paper on financing Sri Lanka’s Orange Economy. The paper sets a target of accessing $ 500 million in Orange Capital mobilised by 2030 for South Asia, a pool now open to Sri Lanka. It also targets an increase in women-owned enterprises’ share of MSME lending from 28% to 35% by value.

Figures presented at the summit showed that women-owned enterprises accounted for 46% of MSME loans by number but only 28% by value, while their non-performing loans were lower at every reporting bank. IIX described them as an underpriced, underserved and high-quality customer base.

IIX plans to work with the CSE and issuers to bring the first Orange Bond issuers to market by December. One issuer has already announced its plans, with pricing a key consideration. IIX will also develop an investment readiness standard with local enterprises and issuers so that more Orange Bonds can be issued under the framework. It will also work with enterprises, investors and issuers to make impact measurement central to raising capital.

IIX positioned the Orange Movement as a business opportunity rather than corporate social responsibility, saying first movers would win customers, capital and reputation. It urged banks and financial institutions to identify their Orange portfolios and develop their first Orange products. It also called on development partners and investors to provide guarantees and catalytic capital to help reach the 2030 target.

The Orange Movement, launched by IIX and its partners in 2022, is the world’s largest coordinated initiative to mobilise private capital for gender equality and climate resilience. It aims to mobilise $ 15 billion by 2030 to empower 150 million women and underserved communities worldwide, with $ 500 million earmarked for South Asia. IIX Founder and CEO Prof. Durreen Shahnaz said that in four years the movement had reached six continents, mobilised over $ 2 billion and impacted 3.5 million lives.

Prof. Shahnaz said IIX had committed to reaching more than 1.2 million women and their families in Sri Lanka by 2030. She said IIX had invested close to $ 8 million in Sri Lanka so far, reaching over 8,000 lives, most of them women and their families.

Referring to the South Asia allocation, Prof. Shahnaz said: ‘If Sri Lanka’s markets and institutions are ready, a significant share of the capital can be invested right here.’ ‘I urge you not to treat this summit as a ceremony. Treat it as a starting line. Make a pledge to bring the Orange Movement into your institution, your portfolio and your market,’ she said.

Prof. Shahnaz noted that only 32% of Sri Lankan women were in the labour force, describing the gap as ‘growth left on the table’. A quarter of working women were employed in agriculture, and smallholder farmers, fishing families and women running businesses from home were the first to be hit when Cyclone Ditwah struck last year, she said.

‘Sri Lanka has set itself the goal of growth of about 7% to become a $ 120 billion economy by 2030. Public finances alone cannot carry that growth target. Bring in women, minority communities, persons with disabilities, and the 7% growth target stops being a stretch,’ Prof. Shahnaz said.

LIIN Chairman Chandula Abeywickrema said high borrowing costs remained a major obstacle for small businesses, with micro-entrepreneurs paying interest rates of 14% to 20%, and sometimes as high as 30%. ‘How can any entrepreneur pay that kind of interest?’ he asked.

Drawing on four decades in banking and finance in Sri Lanka and Asia, Abeywickrema said a country’s future development would be measured not by how many people worked as employees in the public and private sectors, but by how many entrepreneurs it had. He said LIIN had pioneered access to private equity for entrepreneurs, the first such initiative in Sri Lanka.

Abeywickrema said capital should not be restrictive and must come in different forms to suit different sectors and people, while being available, accessible and affordable. Entrepreneurs also needed hand-holding, not just loans or grants, he said.

Bandaranaike said the CSE was in talks with other prospective issuers and was sure Alliance Finance Company PLC’s move would encourage many of them to follow a similar path.

He said women were one of the most significant sources of untapped economic potential in Sri Lanka. Many still faced obstacles in accessing finance, expanding their businesses and entering new markets, leaving commercially viable enterprises undercapitalised, he said.

He said Orange Bonds were not confined to a single industry. They applied a gender lens across the economy and treated gender inclusion as an investable economic opportunity, opening the market to financial institutions, corporates and other entities, he said.

However, he cautioned that good intentions alone did not make a successful financial instrument. An Orange Bond must be backed by sound financial fundamentals, appropriate governance, transparent use of proceeds and reliable impact measurement, he said. ‘The social objective cannot be a substitute for financial discipline. Rather, the two must reinforce each other.’

Bandaranaike said Sri Lanka’s capital market had recorded over 12 GSS+ Bond issuances, mobilising more than Rs. 90 billion, and that GSS+ Bonds accounted for 40% of listed debt raised last year.

‘The true value of a capital market should not be measured only by the capital it mobilises, but also by the economic opportunities that capital helps create,’ he said. ‘When we invest in women’s potential, we are not merely investing in women, we are investing in the future of our economy.’

Taraba Killings: Senate demands security crackdown as death toll rises to 80

The Senate has called for an urgent security offensive in border communities across Taraba, Plateau and Bauchi states, following the reported killing of about 80 people by armed bandits in Binnari, Karim Lamido Local Government Area of Taraba State.

According to the News Agency of Nigeria (NAN), lawmakers urged security agencies to establish additional security camps and intensify surveillance in the affected areas to prevent further attacks and protect vulnerable communities.

The resolution followed a motion of urgent national importance moved by Senator Isa Shuaibu Lau during plenary on Wednesday.

Lau expressed concern over the killings of innocent and defenceless civilians, warning that the persistent attacks had heightened fear, displaced residents and disrupted peaceful community life.

He noted that the continued activities of bandits in rural communities undermined the government’s constitutional responsibility to protect lives and property.

The Senate warned that failure to address the recurring attacks could lead to further loss of lives, destruction of property, displacement of residents and worsening humanitarian challenges.

The lawmakers stressed that no community should be left at the mercy of criminal groups, calling for decisive action to restore security and protect residents.

The Senate also urged the National Emergency Management Agency (NEMA) and the North-East Development Commission (NEDC) to provide relief materials to communities affected by the attacks.

The lawmakers observed a minute’s silence in honour of those killed in the incident.

The death toll from the attack on Binnari community in Karim Lamido Local Government Area of Taraba has risen from the initial figures reported by the police, with community accounts putting the number of fatalities at 50 in subsequent reports.

The Senate has now cited about 80 deaths as it calls for an urgent security offensive in the border communities of Taraba, Plateau and Bauchi states.

The attack on Binnari occurred on Friday, October 23, shortly after Jumu’ah prayers, with gunmen reportedly invading the community at about 3 p.m., firing sporadically and looting food items from shops and residential houses.

The attackers also reportedly set shops and motorcycles ablaze, causing panic among residents. They were suspected to have crossed into Taraba from neighbouring Plateau State.