Bulldogs keep struggling Tigers at bay

National University hustled its way to a huge win over University of Santo Tomas Growling Tigers, 75-71, in their UAAP Season 89 men’s basketball clash Saturday at the Smart Araneta Coliseum.

The Bulldogs bounced back from a narrow loss against Ateneo in their last game, while sending the Tigers to their third straight defeat.

Mo Diassana flexed his muscles inside with 16 points and 19 rebounds, while swatting one shot. PJ Palacielo added 14 markers and six boards, while Kenshin Padrones added 13 points and 12 rebounds.

After losing a double-digit lead in the first half, NU trailed by five, 57-62, early on in the fourth quarter after an 8-0 run by UST capped by a Kristian Porter layup.

But a 10-0 run by the Bulldogs, capped by a deuce by Paul Francisco, pushed them ahead, 67-62, with 4:53 left.

A pair of free throws by Collins Akowe made it a three-point game, 64-67, but Reinhard Jumamoy and Palacielo kept the pressure on for NU.

After a dunk by Diassana gave the Bulldogs a 73-66 advantage with 42 seconds to go, UST inched closer with a triple by Landyn Jumawan and a pair of freebies by Amiel Acido, 71-73, with seven ticks to go.

On the other end, Palacielo was fouled. He made the first but missed the second, but NU was able to carom the rebound anew.

Palacielo was then sent to the line once again, and split his pair from the charity stripe to ice the game.

Tebol Garcia added 12 points, seven rebounds, six assists and a steal in the win. Jumamoy and Vince Reyes had six markers each for NU, which outrebounded UST 59-29.

Acido paced UST with 13 points and five rebounds. Llemit added 12 markers, four dimes and three boards. Akowe and Andrew Chio tallied 11 points each. The former was kept to a 2-of-7 shooting from the field and had just five rebounds. The latter made three of his five tries from deep.

The Bulldogs rose to 7-3 in the standings, while UST slipped to 4-6.

Prasakti Energy launches 3.5 MW Wilachchiya Biomass Dendro Power Project

Prasakti Energy has successfully launched its 3.5 MW Biomass Dendro Power Project in Wilachchiya, Sri Lanka, marking a significant step in the company’s commitment to renewable energy development and contributing to the country’s transition towards a more diversified and sustainable energy mix.

The project harnesses woody biomass to generate electricity, providing a renewable source of power while promoting the productive utilisation of biomass resources.

Located in Sri Lanka’s dry zone, the Wilachchiya project represents more than an investment in renewable power generation. Its location in a rural area highlights the potential for clean-energy projects to contribute to regional economic development by bringing investment, infrastructure, employment opportunities, and supporting business activity beyond the country’s major urban and industrial centres. The development of the project can create opportunities for local communities through transportation, maintenance, technical services, operational support, and other activities associated with the construction and long-term operation of the facility.

The project also demonstrates the potential of biomass-based power generation to connect renewable energy development with rural economic activity. By creating a productive use for biomass resources, the project supports the development of a broader renewable energy ecosystem while contributing to Sri Lanka’s growing renewable energy capacity. The establishment of modern power-generation infrastructure in Wilachchiya further supports the development of technical capabilities and related services within the surrounding region.

The successful implementation of the project required the movement of specialised and oversized equipment to a location presenting several operational challenges. Difficult ground conditions, changing weather, restricted access, limited availability of suitable equipment, and the dimensional characteristics of certain cargo required careful planning and flexibility throughout the execution process.

Expolanka Freight Ltd., – Project Division supported Prasakti Energy in managing the logistics requirements, including cargo clearance, transportation, equipment mobilisation, specialised handling, and final delivery to the project site.

To ensure the smooth movement of the project cargo, transportation and handling arrangements were adapted according to actual site conditions and equipment availability. Selected cargo was transported using suitable lowbed trailers to address dimensional and unloading limitations, while cargo movements were carefully sequenced in planned lots to align deliveries with site readiness and the availability of required equipment. Close coordination between the project, logistics, transport, and site teams helped maintain a controlled flow of cargo and minimise unnecessary delays and additional holding costs.

The development of the Wilachchiya project demonstrates how renewable energy investments can deliver benefits that extend beyond electricity generation. By bringing a 3.5 MW renewable energy facility to a rural region, Prasakti Energy is contributing to the expansion of Sri Lanka’s renewable energy infrastructure while creating opportunities for local economic participation and supporting the development of businesses and services around the project. Such investments can play an important role in strengthening rural economies and encouraging further infrastructure development in areas with significant potential for renewable energy generation.

The successful completion of the project reflects Prasakti Energy’s vision of developing energy solutions that support both environmental sustainability and economic progress. The Wilachchiya Biomass Dendro Power Project stands as an example of how renewable energy development can contribute to national energy objectives while creating meaningful value at the regional level. Through projects such as this, Prasakti Energy continues to demonstrate its commitment to powering a more sustainable future for Sri Lanka while contributing to the development and prosperity of communities beyond the major urban centres.

Tigers unperturbed despite being in tough position for Final Four berth

There is no need to push the panic button yet for the University of Santo Tomas Growling Tigers as far as their UAAP Season 89 bid is concerned, team captain Mark Llemit stressed.

Following a 75-71 defeat against National University on Saturday evening, UST slipped to a 4-6 win-loss record.

The Growling Tigers have lost three straight games, with their last win coming in the first round.

With a very tight race to the Final Four, the Tigers would need to have a flawless rest of the season to try and make the semifinals.

After their loss against NU, Llemit pointed out the need to dig themselves out of the hole game by game.

‘Wala pa naman [need to push the panic button] kasi may last four games pa rin,’ Llemit told reporters.

‘Siguro pagtrabahuin namin yun. Isa-isahin namin. Simulan namin sa FEU. So, yun. Babawi kami,’ he added.

UST on Sunday will take on Far Eastern University, which finally broke its three-game losing streak at the expense of Adamson earlier in the week.

Llemit said they need to improve on getting stops as they try to make a last push for a semis spot.

‘Siguro yung defense talaga namin. Kasi may mga small details kami na parang nakalimutan e. Sa mga players na rin yun, kasi yung mga coaches naman, nilatag yung gameplan na ano dapat gagawin,’ he said.

‘Bale kami, sa players naman, sa dulo nagkulang kami. Kasi may mga time na hindi namin nagawa yung binigay ng mga coaches,’ he added.

And while the morale of the team is low following the latest loss, the fourth-year winger is keeping the faith.

‘Siguro ngayon, masakit talaga kasi gusto naming kunin yung win sana kanina. So bawi na lang kami. Last four games, pagtiyagaan namin.’

Despite the 4-6 slate, UST remains one-and-a-half games behind the fourth-place team.

Everton beat Newcastle to set up League Cup quarterfinal with Fleetwood

Everton advanced to the League Cup quarterfinals with a 3-1 victory over Newcastle United, setting up a clash against fourth-tier side Fleetwood Town.

First-half goals from James Garner and Hayden Hackney put the hosts in control before Thierno Barry struck after the break at the Hill Dickinson Stadium, with Dan Burn scoring late for the visitors on Thursday.

The Merseyside club eased through despite the absence of midfielder Jack Grealish, who was dropped from the squad following an internal breach of club discipline. Prime Minister Andy Burnham, an Everton supporter, was among the crowd. Everton will travel to League Two side Fleetwood, who stunned Premier League champions Arsenal on Tuesday. Mikel Arteta’s side crashed out 5-3 on penalties in an incredible fourth-round upset after the tie finished 1-1 in normal time.

Crystal Palace will welcome Sunderland, while Bournemouth will play away at Liverpool, who beat Chelsea 6-5 in a dramatic penalty shootout on Wednesday. Defending champions Manchester City will take on third-tier side Bradford City. They avoided the fate that befell Arsenal and stayed on course to retain their title by twice coming from behind to draw 2-2 against Brighton, then triumph 4-3 in the shootout.

The quarterfinals are scheduled to take place in the week beginning 14 December.

Cyprus Department of Meteorology – Forecast for the Sea Area of Cyprus (A)

Atmospheric pressure at the time of issue: 1018hPa (hectopascal)

Weak low pressure is affecting the area. Increased cloud will be present at times with isolated showers and/or thunderstorm.

Visibility: Good, but moderate to poor in showers

Sea surface temperature: 25°C

Warnings: NIL

AREA

PERIOD

WIND

STATE OF SEA

West Coast

Morning

Northeast to Southeast 3, gradually Southeast to South 3 to 4

Smooth to Slight

Afternoon

West to Northwest 3 to 4, at times locally 4

Smooth to Slight

Night

Northeast to Southeast 3, locally Variable

Smooth to Slight

South Coast

Morning

Northwest to Northeast 3, gradually Southeast to Southwest 3 to 4

Smooth to Slight

Afternoon

Southwest to West 3 to 4, at times locally 4

Smooth to Slight

Night

Southwest to Northwest 3, locally Variable

Smooth to Slight

East Coast

Morning

Southwest to Northwest 3, gradually Southeast to Southwest 3 to 4

Smooth to Slight

Afternoon

South to Southwest 3 to 4

Smooth to Slight

Night

Southeast to Southwest 3, locally Variable

Smooth to Slight

North Coast

Morning

Southeast to Southwest 3, gradually 3 to 4

Smooth to Slight

Afternoon

Southwest to Northwest 3 to 4

Smooth to Slight

Night

Southeast to Southwest 3, at times locally 3 to 4

Smooth to Slight

Time of issue: 0530

Date: 31/10/2026

To expand specialized medical care: VSMMC seeks P2. billion budget

The Vicente Sotto Memorial Medical Center (VSMMC) is seeking a ?2.2-billion budget for 2027 to strengthen its services as an Apex hospital and expand its capacity to provide specialized medical care.

The proposed allocation will support priority projects, including the development of specialty centers that aim to give patients in Central Visayas access to advanced medical services without having to travel to Manila.

VSMMC chief Dr. Gerardo M. Aquino Jr. said the proposed budget represents an increase from the hospital’s nearly ?2-billion allocation for the current year.

He said the additional funding would help advance the hospital’s priority and pipeline projects as it works to fulfill its mandate as an Apex hospital.

Aside from providing general hospital services, VSMMC has been designated a Level 3 Apex hospital and tasked with establishing 17 specialty centers.

These include cancer, orthopedic and heart centers, which are among the facilities being developed to provide patients with more specialized treatment.

Aquino said ongoing construction projects within the hospital are part of preparations to strengthen its specialized medical services.

The expansion is expected to improve access to advanced treatment, particularly for patients who would otherwise have to seek specialized medical care outside Cebu.

“So these are all mandates sa amo so makakita mo naay mga construction diha because that is really in preparation nga ang Sotto, if you need kuan cardiac, no, you don’t have to go to Manila,” Aquino said.

The development of these centers is part of the hospital’s efforts to expand its services beyond general medical care and provide more specialized treatment locally.

Aquino also cited the government’s Zero Balance Billing (ZBB) program as a major source of financial assistance for patients admitted to the hospital.

Under the Department of Health (DOH) policy, qualified patients admitted to basic or ward accommodation in DOH hospitals are exempt from covered out-of-pocket hospital charges and professional fees.

The program aims to ensure that eligible patients can receive medical treatment without shouldering covered hospital expenses.

Aquino said the subsidy provided through the program has significantly helped the hospital support patients requiring medical care.

“Dako kaayo ang subsidy nga amo pong nakuha on the zero balance billing,” he said.

As a national government-owned hospital under the DOH, VSMMC follows the national budget preparation and approval process.

The hospital prepares its proposed annual operating and capital expenditures, which the DOH reviews and consolidates before submitting them to the Department of Budget and Management (DBM).

The DOH’s consolidated budget proposal is then incorporated into the National Expenditure Program (NEP), which the President submits to Congress for deliberation.

The House of Representatives and the Senate review the proposed spending plan and may introduce amendments before passing their respective versions. The two chambers then reconcile differences through a Bicameral Conference Committee.

The final budget measure is submitted to President Ferdinand “Bongbong” Marcos Jr. for approval. Upon signing, it becomes the General Appropriations Act (GAA).

Meanwhile, the proposed ?7.2-trillion national budget for 2027 secured approval from the House of Representatives on October 12, 2026. The proposed budget is now under Senate review, after which the two chambers will reconcile their respective versions before submitting the final measure to Malacañang for the President’s signature.

THE GOLD LOAN BOOM: WHAT THE NUMBERS SAY AND WHAT THEY DON’T

At the end of 2018, Sri Lanka’s licensed finance companies and specialised leasing companies held Rs. 43.9 billion in pawning advances. By the end of 2025, finance companies’ loans secured by gold stood at Rs. 465 billion which amounted to 20.9% of the sector’s loans and advances, after growing 64.1% in that year alone. Similarly, in Licensed Commercial banks pawning advances rose by Rs. 237.7 billion during 2025 and stood at Rs. 898 billion at the end of the year.

On the 24th of May 2026 the CBSL issued Direction No. 02 of 2026, capping the loan-to-value (LTV) ratio on credit secured by gold at 70% of the collateral’s market value, with effect from 25 May 2026. The cap applies to LCBs and finance companies, including existing facilities renewed on or after that date. In announcing the decision, the CBSL’s Governing Board pointed to the significant recent growth in gold-backed credit, and to elevated volatility in asset prices, including gold, alongside exchange rate fluctuations that may affect collateral valuations and the potential impact on the financial system if such trends continue.

While the growth in lending would usually be read as evidence of a credit boom, due to the nature of the collateral, it cannot necessarily be said so. When the rupee value of gold rises, the same chain or bangle can be used to obtain a larger loan, and the loan book grows without a single new borrower.

CBSL’s Annual Report in 2022 linked a 40% YoY rise in bank pawning to the difficulties the public faced amidst the rising cost of living, which resulted in more households turning to their jewellery. Pawning and gold loans also grew 77.5% YoY in finance companies in 2022, supporting loan growth while the leasing portfolio contracted under the continued restrictions on vehicle imports.

The exchange rate might also be a factor which aided in the growth of the gold loan book. Gold is traded internationally in dollars, so its rupee price moves with both the world gold price and the exchange rate. Between 2020 and 2022, the world gold price barely moved, rising less than 2% from US$ 1,770 to US$ 1,800 an ounce. The rupee, however, fell from an average of Rs. 186 to Rs. 325 per dollar. The indicative rupee price of gold (world gold price × USD/LKR annual average) rose by about 78%, almost entirely because of the currency, however during the same period finance company gold-backed loans tripled from Rs. 71.4 billion to Rs. 229.8 billion, though part of this increase reflects a change in the CBSL’s definition from December 2021.

However, between 2022 and 2024, the data tells a different story. The world price rose to US$ 2,386.2 an ounce while the rupee strengthened to an average of Rs. 302. The indicative rupee price of gold rose by about 23%, and Finance company gold loans rose from around Rs. 230 billion to Rs. 284 billion, which is almost the same proportion.

In 2025, the world price averaged US$ 3,431 an ounce after setting record highs, while the rupee was broadly stable at an average of Rs. 301. During this time, while the indicative rupee price of gold rose by about 43% finance company gold loans grew by 64.1%. Thus, this time the book outpaced the gold price again. Thus, through the price itself whether the gap reflects more borrowers, more gold pledged per borrower, or a larger share of each sovereign’s value being lent cannot be ascertained.

2023 is the exception. The rupee was broadly stable on average at Rs. 327.53, and the indicative rupee price of gold rose by about 9%. Yet finance companies’ loans against gold contracted by 4.7%, even as commercial bank pawning rose from Rs. 411 billion to Rs. 547 billion. Thus whatever drove the 2025 surge was not a weaker rupee.

Source: CBSL

In 2022, finance companies’ pawning and gold loans grew by 77.5%, while the indicative rupee price of international gold rose by about 63%. Between 2022 and 2024, the two moved at broadly similar rates. In 2025, finance company gold lending grew by about 64%, against a rise of about 43% in the indicative rupee gold price. And in 2023, the relationship broke down altogether with the indicative price rising by about 9%, yet finance companies’ gold lending contracting by 4.7%. These comparisons suggest that collateral prices have played an important part in the expansion of gold-backed lending, however they are not a complete explanation. Also, it is important to keep in mind that annual average prices and year-end balances are not strictly comparable, thus, if at all, they indicate direction.

K Seeds Investments (KSI) publishes quarterly rankings of listed finance companies in Sri Lanka. The writer, Nimanga Shehan Senanayake is a Director of KSI

Conflicted

Members of the Senate sit as judges in the impeachment case involving the Vice President. It is not a good look if any of those sitting as judges remain silent about the possibility that they are named to replace Vice President Sara Duterte in the event of conviction.

There is clearly a conflict of interest situation when the judge is potentially a beneficiary of his decision. Any judgment by a chamber composed of potential beneficiaries of the outcome cannot be credible.

The impeachment trial is curious to begin with. This is the first time a vice president – normally a powerless post – is being tried. And by a chamber of elected politicians, some of whom with unremarkable records for probity. She was impeached by an even rowdier chamber: the Lower House, which is now on trial in the court of public opinion for mangling the national budget.

Public interest in the trial is tepid at best. Our citizens have not bothered to closely observe trial proceedings. Only a minority, according to the surveys, believe the judgment will be fair. A plurality thinks the defense has done a better job – even as their formal presentation has yet to begin.

I think this is a useless exercise perpetrated by those who had the power but not the credibility to properly lead. Whatever the final outcome will be, everybody loses. The nation is distracted while the economy sinks. This whole circus will likely backfire, producing deep polarization in a country that needs to unite to solve a rapidly worsening crisis.

To address the taint of a possibly conflicted chamber, Sen. Francis Escudero declared he was unavailable to replace Sara Duterte in the event she is convicted. Sen. Alan Cayetano seconded the trial presiding officer, challenging all the senator-judges to declare they would refuse appointment to Sara’s post. This should discourage perception that the Senate arrived at a judgment from a conflicted position.

Sen. Panfilo Lacson and Claire Castro, silent about Escudero’s disavowal of interest, joined in chorus to denounce Cayetano’s seconding of the motion. A collective disavowal of interest in succession, the duo argued, restricts the President’s power to name the successor.

Which was not the issue. The President can name his own son if he wants to. The issue is the taint of conflict of interest that hangs like a dark cloud over the trial. This has to be addressed somehow.

We have seen enough hypocrisy in this contrived impeachment. Most understand this is nothing more than a cynical ploy to prevent a popular Vice President from becoming elected successor.

It is a ploy contrived by those guilty of worse crimes against our people.

Chief Justice

A fateful decision is coming up. The Judicial and Bar Council has submitted to the President its shortlist for Chief Justice. The incumbent retires just over a week from today.

The Supreme Court has become a more vital institution than usual. Both the presidency and Congress have lost legitimacy in our people’s eyes the past few years. Public opinion polls show net negative ratings for these two branches of government. This is understandable, considering the volume of scandal, mediocrity and brazenness that infected them.

The Supreme Court, on the other hand, repeatedly championed rights and due process the past few years when it seemed governance has run awry. The Court declared the first impeachment of Sara Duterte unconstitutional. The Court reversed the arbitrary decision to take money away from PhilHealth to use for purposes other than public health. Most recently, the Court declared unconstitutional the congressional practice of using ‘unprogrammed allocations’ to inflate the budget and move funds to pork barrel projects.

There are many layers of consideration in choosing the Chief Justice. Judicial philosophy is a consideration. Seniority is another. Legal scholarship needs to be assessed. Professional reputation is indispensable.

We had trouble in the past when seniority was brashly ignored. There was even bigger trouble when appointment to the highest judicial post was seen as animated by narrow political considerations.

Many see the Supreme Court as the last fully functioning branch of our tripartite government. The other two appear to have been overrun by corruption and incompetence such that we are intently waiting for 2028 for change to happen.

The Supreme Court these days is more than merely the court of last resort. It is seen as the reliable guardian of a genuinely constitutional political order. Without its guiding wisdom, we could be wandering in some dark space between tyranny and kleptocracy.

Needless to say, the choice of the next Chief Justice must be as solid as possible. The next leader of the judiciary must steer a fraught path, retaining its institutional credibility instead of being sunk by the waves of politicking. The choice the the next Chief Justice could be the last opportunity for Marcos Jr. to pay our democracy a lasting tribute.

The rumor is that the frontrunner for the highest judicial post is Rodil Zalameda. He is seventh in seniority and is said to be in contention because he penned two decisions favorable to the President’s family: the 2023 ruling that threw out the P41-billion ill-gotten wealth case against the Marcoses and Lucio Tan and this year’s decision that reversed Imelda Marcos’ 2018 graft conviction.

He may have other sterling credentials. But these two cases will invite public interpretation that the choice was political.

Turkish candidacy for UN Secretary-General a political paradox, Spokesman tells CNA

Government Spokesman Konstantinos Letymbiotis has described the candidacy of Turkish diplomat Feridun Sinirlioglu for the position of United Nations Secretary-General as a ‘political paradox and a profound institutional contradiction’, noting that Turkey’s decision to put forward a candidate had been expected.

Asked by the Cyprus News Agency (CNA) to comment on this development, Letymbiotis said the candidacy confirmed Turkey’s hypocrisy, which, he noted, the President of the Republic had highlighted from the podium of the UN General Assembly.

‘It is indeed a paradox that a country which, for 52 years, has continued to illegally occupy 37% of the territory of the Republic of Cyprus, a UN member state, and disregard Security Council resolutions, should seek to lead the very organisation founded to uphold international peace, the sovereignty and territorial integrity of states,’ he said.

The Spokesman also referred to revisionism, aggression and violations of international law, the UN Charter and the Law of the Sea, as well as military involvement in regional conflicts and violations of the rule of law and human rights.

These elements, he said, ‘constitute a policy that directly runs counter to the principles and mission of the Organisation’.

‘You cannot seek to lead the United Nations while refusing to respect the principles on which it is founded. You cannot claim to represent international law while continuing to violate it,’ he stressed.

Referring to the selection process for the next UN Secretary-General, Letymbiotis said it was at an advanced stage and involved particular institutional and diplomatic considerations.

He added that, in assessing the candidates, the Security Council would take due account both of each candidate’s profile, qualifications and track record and of the position of the country putting forward their candidacy towards the UN Charter, international law and the decisions of the Security Council itself.

It is noted that Greece is a non-permanent member of the UN Security Council for the 2025-2026 term and holds the Council’s presidency for October 2026.