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The local stock market’s winning momentum was cut short yesterday as investors decided to lock in gains following two consecutive days of increases.

The bellwether Philippine Stock Exchange index (PSEi) declined by 0.68 percent, or 41.34 points, ending the session at 6,057.40.

The broader All Shares index also slipped by 0.48 percent or 17.64 points to settle at 3,667.01.

‘The PSEi ended its two-day winning streak as profit taking weighed on the market early in the session,’ Luis Limlingan of Regina Capital said.

AP Securities, for its part, said the market tracked lower after the peso breached 58 to $1 following the Bangko Sentral ng Pilipinas’ surprise move to cut rates by another 25 basis points to support the domestic economy.

Local counters were mixed, with mining and oil leading the gains with a 2.80-percent surge, while financials registered the biggest loss at 1.66 percent.

Total value turnover was almost similar to the previous day’s output at P6.5 billion.

Market breadth, however, turned negative as decliners squashed advancers, 135 to 72, while 55 issues were unchanged.

BDO emerged as the session’s top traded stock, shedding 2.57 percent to P136.40 per share, followed by ICTSI, which declined by 0.38 percent to P526, while Philex Mining rose by 3.17 percent to P10.42.

Among index members, AREIT saw the highest jump at 7.49 percent to P45.20, while Puregold lost the most, falling by 6.11 percent to P39.95.

Securities and Exchange Commission (SEC) chairman Francis Lim cited ‘fake news’ when he remarked about the supposed trillion-peso wipeout in stock market value due to the corruption controversy, Malacañang said yesterday, as it claimed that business confidence in the country remains ‘solid.’

In a speech before financial executives last Wednesday, Lim said the flood control project mess has ‘shaken public confidence’ and has wiped out an ‘extraordinary’ P1.7 trillion in market value of publicly listed firms in just three weeks despite rising corporate earnings.’

Lim has apologized for the confusion.

‘The information, which had been circulating within business circles and cited by some media outlets, was based on what I believed at the time to be a credible industry report. I have since learned that the report was fictitious,’ Lim said in a statement yesterday.

‘I deeply regret any confusion or concern that my statement may have caused. My sole intent was to underscore the vital importance of integrity in our markets and the devastating impact corruption can have on investor confidence,’ Lim said.

There were also reports stating that the total value of companies listed in the Philippine Stock Exchange (PSE) dropped by 12 percent from P14.3 trillion to P12.6 trillion from Aug. 11 to 29.

Speaking to Palace reporters yesterday, Special Assistant to the President for Investment and Economic Affairs Secretary Frederick Go said multiple sources have confirmed that the claim about the stock market value wipeout was false.

‘Unfortunately, the Securities and Exchange Commission chairman was quoting a confirmed fake news socmed (social media) post designed to catch attention and falsely sensationalize,’ Go said.

‘The attributed source confirmed that the fake news did not come from them,’ he added, referring to S and P Global Market Intelligence, which was quoted by the debunked social media post.

According to Go, the drop in the total value of PSE-listed firms from Aug. 11 to 29 was not 12 percent, but 1.58 percent.

‘(With regard to the) All Shares Index in our Philippine stock market of 282 companies, the drop was only 1.5 percent. And in terms of the market cap, which is the clickbait number of that fake socmed post, the drop is only 1.4 percent,’ he said.

‘So, these are easily verifiable. You can confirm this later with the PSE, the Philippine Stock Exchange, or any stockbroker. They know these. All these details are public knowledge.’

Go said the Philippines has not lost any investment pledge despite the flood control issue. He revealed that the approval of the first beneficiary of the CREATE MORE Act – an investment from a Korean semiconductor company of over $1 billion – would be transmitted to the Office of the President this week.

‘I don’t think anybody has pulled out. I think sometimes when there is unpredictability in the environment, people might temporarily think about their investment projects. But we’re quite confident that when this is all resolved, they will all come back. So, they have not pulled out… They will continue with their projects,’ Go said.

According to Go, the business community is ‘very appreciative’ of President Marcos’ effort to address corruption.

‘I think the business confidence is still solid. I think you can see that from multiple sources of information. But, of course, there is this short-term challenge that we have to overcome, primarily because of the negativity in our news or in our social media news feeds,’ the investment czar said.

‘So, I think it will really help our country if we start moving on from this, focusing on the reforms and the corrective measures that will be done to address these issues that we have uncovered. And by doing that, I think the rebound will be stronger.’

Asked to react to the US State Department’s report stating that corruption remains a major barrier to investment in the Philippines, Go said the ‘swiftness and decisiveness’ of the President show the government’s resolve to address the problem.

‘I believe the negativity is overblown. This investigation will be good for the country long-term because it will address and correct the wrong practices. The effect of this is that the budget – and we already see it now – will be more efficiently spent and allocated on more productive programs which will benefit the country and our people,’ he said.

Foreign business chambers have long lamented corruption and red tape in the country, Go added.

At the same press briefing, Go said the proposal of Sen. Erwin Tulfo to implement a month-long income tax holiday to provide relief to the public in the face of the corruption issue requires a thorough study.

‘This is quite a big matter and I think it’s best to give the DOF (Department of Finance) and the DBM (Department of Budget and Management) time to carefully study this proposal,’ he said.

After absorbing its first scar, league leader Ateneo enjoys a homecourt advantage this time around in a quick payback bid against the formidable University Santo Tomas in the UAAP Season 88 men’s basketball tournament at the refurbished Blue Eagle Gym in Katipunan.

The Blue Eagle (4-1), on the heels of an 83-69 reality check handed by title holder UP Fighting Maroons, welcome the Growling Tigers (3-1) at 4:30 p.m. for the first UAAP games at their turf since hosting the 79th season in 2019. Cellar dwellers UE (0-4) and Adamson (1-3) clash in the curtain raiser at 1:30 p.m.

Ateneo currently shares the pole position with National University (4-1), slightly ahead of solo second UST with powerhouse UP (3-2) and La Salle (2-2), which are slowly catching up after a dismal start, entering into its own arena for more than seven decades.

Built in 1949, the Blue Eagle gym underwent renovation for more than a year before its completion last month in time for the UAAP venue availability due to the scarcity of usual big arenas this holiday season and the multiple international event hosting of the country like volleyball and futsal.

To compensate, the UAAP held the majority of its early matches at the UST Quadricentennial Pavilion in Manila for the Growling Tigers’ homecourt before the addition of the Blue Eagle Gym to the venue calendar.

Ateneo, in fact, went unbeaten in two games at UST’s soil, hoping to also perform well at their own backyard despite having limited training there in the middle of its repair.

‘I’m not even sure it’s a home court yet. It’s home in the sense that it’s the campus that we go to every day but if there’s any chance that it will be a home court, it’s if the crowd really turns out and if the student body really comes and turns a special event for the day for the team,’ said coach Tab Baldwin.

Baldwin, a multi-titled Kiwi-American mentor in different countries with home-and-away format, however has been used to neutral arenas in the Philippine sporting landscape to a point that homecourt advantage isn’t really an edge.

‘I spent 35 years coaching in leagues where every game was a home or away game. So I don’t really believe in that so much, unless you’ve got a rabid and intimidating one like the Cameron Indoor Stadium at Duke, which I don’t really think is the case here. I mean, we were undefeated at UST. So, you know, maybe that’s our home court,’ he cleared.

‘I like playing in Araneta and MOA. One of the special things about Philippine basketball and the UAAP is that there isn’t a home and away, and that we play it with these neutral venues, neutral crowds, and they’re world-class stadiums on top of it.’

As for the Growling Tigers, who like the Blue Eagles, have been a revelation this season, Baldwin sees another tough outing in a grueling stretch after battles against finalists La Salle and UP with the emerging NU as its last assignment in the first round.

‘UP prepared for us very well and I think UST will. I said after we won two games that by the end of the first round there won’t be any undefeated teams. And that’s not to say that it’s prophetic,’ said Baldwin after a fiery 4-0 start.

‘It’s just to say that the teams in this league are good teams. And it’s tough to get up game after game after game. We looked at this week where we have three games in six days. It’s a tough schedule.’

Expect UST to be armed and ready as well, especially with a shot at snatching the No. 1 seed.

‘They’re the No. 1 team right now so dapat handa kami,’ said ace Nic Cabañero. ‘It’s a big game for us in the renovated Blue Eagle Gym. We’re used to playing in our homecourt and now, it’s theirs. We’re excited. We’ll be prepared,’ added assistant coach Juben Ledesma.

Silog is one of the go-to dishes of Filipinos. Whether tapsilog, tocilog, longsilog or adobo flakesilog-these dishes instantly transform ordinary moments into joyful mealtimes that are truly kasabik-sabik!

When it comes to silog, Kathryn Bernardo knows the best way to enjoy it is with Purefoods Pinoy Favorites, truly nakakasabik sa bawat araw!

Purefoods Pinoy Favorites offers a delicious Siloooooog line-up that delivers expertly flavored, tenderrific sa sarap and nuot-linamnam goodness silog dishes, a line-up that makes every day and every meal truly worth looking forward to.

Kathryn Bernardo brings in kasabik-sabik na mealtimes for any occasion with Purefoods Pinoy Favorites, sparking joy, excitement and deliciousness on the tables of Filipinos through silog.

Purefoods Beef Tapa – Tender beef slices packed with nuot-malinamnam goodness that we all crave.

Purefoods Tocino – Tenderrific sa sarap na tocino, with juiciness in every sweet and savory bite.

Purefoods Hamonado Longganisa – Expertly flavored longganisa, juicy and plump, with just the right hint of sweetness in each piece.

Purefoods Adobo Flakes – Ready in as fast as 10 minutes! Each crispy strand is loaded with adobo flavor, capturing the perfect balance of tangy and savory.

With Purefoods Pinoy Favorites, mas kasabik-sabik ang bawat araw-mapa-breakfast, lunch, dinner o snack time-puwedeng magsilog from sun-up to sawa!

Joy Aseo took over the scoring task in the absence of Shaina Nitura and propelled Adamson University to the second round with a quick sweep of Arellano University, 25-21, 25-17, 25-19, in the 2025 Shakey’s Super League (SSL) Preseason Unity Cup last night at the Rizal Memorial Coliseum.

Aseo whipped up 12 points in the Lady Falcons’ second straight victory in as many games as they joined playoffs-bound and also unbeaten Far Eastern University at the top of Pool B.

Adamson, which rested Nitura, was in full control of the match and booted out the Lady Chiefs in just 77 minutes.

‘Naging patient lang kami sa isa’t isa and nag-team work,’ said Aseo.

For her transformative leadership and unwavering commitment to financial inclusion, Martha Sazon, the president and CEO of Mynt, the parent company of GCash, has once again been recognized as one of Fortune’s Most Powerful Women in Asia 2025.

This marks the second consecutive year she has earned a place on the prestigious list, which honors the most influential women shaping the future of the region across industries, including business, science, entertainment and sports.

Appointed in the middle of the COVID-19 pandemic, Sazon steered the country’s leading finance superapp through a period of rapid growth and transformation. With over 30 years of cross-industry experience, she led the platform to become the Philippines’ first and only $5 billion unicorn, now used by eight in 10 Filipinos.

Guided by its vision of ‘Finance for All,’ GCash has built the country’s largest and most inclusive cashless ecosystem, enabling millions of Filipinos to access payments, savings, credit, insurance and investments. To date, it has disbursed P287 billion in loans to 9.5 million borrowers, 90% of whom are first-time users of formal credit, underscoring how GCash and its lending services are opening the doors of financial inclusion. Most borrowers are women, low-income earners and residents outside Metro Manila, reflecting the deep reach of GCash across underserved sectors.

Its GSave service now reaches one in four banked Filipinos while GInsure has expanded access to protection, providing over 63 million affordable insurance policies nationwide.

Moreover, Sazon has been widely recognized for her leadership and innovation, being named the 2022 Master Innovator for Digital Transformation by the Mansmith Innovation Awards, 2023 Woman of the Year by the Asia Leaders Awards, recipient of the 2024 Front and Female Business Leader Award from Tatler, and one of Fortune’s 2024 Most Powerful Women of the Year (Asia).

Her influence continues to resonate globally, with GCash becoming the first Philippine company welcomed into the World Economic Forum’s Unicorn Community-a testament to its growing international relevance and to Sazon’s vision of building a more inclusive and sustainable digital future for all Filipinos.

The Fortune 100 MPW Asia rankings honor 100 leading women leaders who are transforming business across Asia’s major financial, consumer, and technology centers, as well as the transport, aviation, industrial and energy sectors-where scale, digitalization and supply?chain resilience define competitive advantage.

Their innovative strategies and leadership are driving market growth, scaling new platforms and shaping Asia’s business landscape.

There have been only 13 of 504 inductees in the International Boxing Hall of Fame from Asia and the list includes four Filipinos. The percentage of Filipinos is less than one percent despite the proliferation of outstanding fighters, promoters and managers.

The enshrined Filipinos are Flash Elorde (inducted in 1993), Pancho Villa (1994), Papa Sarreal (2005) and Manny Pacquiao (2025). Three Filipinos who deserve to be inducted are former world middleweight champion Ceferino Garcia, ‘Thrilla In Manila’ referee Carlos (Sonny) Padilla and referee Bruce McTavish.

Garcia turned pro in 1923 and compiled a record of 120-30-14 with 76 KOs up to 1945. He died in 1981 at 74. The oldest of six children, Garcia was born in Biliran and finished first grade before taking to the streets to do odd jobs. He learned to use the bolo hacking stalks in sugar cane fields, built up muscle as a blacksmith, worked in a bakery and took on all comers in streetfights. Garcia became a full-time prizefighter and was brought to California by his manager Jes Cortez in 1932. He failed in two bids to win the world welterweight crown, losing decisions to Hall of Famers Barney Ross and Henry Armstrong then finally ascended the throne in the middleweight division, stopping another Hall of Famer Fred Apostoli in the seventh round in New York City in 1939.

Garcia was one of only six fighters to hold Armstrong to a standoff and was the first man to floor World War II hero Ross to whom he lost three decisions. In their first encounter, Garcia decked Ross twice in one round, employing his dreaded ‘bolo’ punch. In the book ‘Barney Ross: The Life of a Jewish Fighter,’ author Douglas Century recounted how Garcia was close to scoring a KO. ‘Ross stumbled back to his corner and in at least one telling of the tale, Art Winch struck a match, holding the flame to Barney’s bare back to get the fighter to respond to the standard questions,’ wrote Century. ”What round is it?’ Barney stared mutely into his spit pail. ‘End of the first,’ he said at long last. ‘Barn, it’s the fifth.’ Fighting on street instinct and sheer muscle memory, Barney hung in for a decision but his face and body were battered.’

No Filipino fighter has won more bouts than Garcia who made his first title defense at the open-air Rizal Football Stadium before over 40,000 fans who witnessed his 13th round KO of Glen Lee in 1939 with Jack Dempsey as referee. President Manuel Quezon was at ringside and sat beside Garcia’s mother Pascuala Pieras. How could the Hall of Fame ignore the only Filipino world middleweight titlist ever, the man who dethroned a Hall of Famer, held Hammerin’ Hank to a draw and floored another Hall of Famer twice in the first fight of a trilogy?

Padilla, 91, worked nearly 70 world title fights in a career that spanned almost 40 years. In 1975, he was the third man in the ring with Muhammad Ali and Joe Frazier at the Araneta Coliseum. His performance in the ‘Thrilla In Manila’ led to world-wide acclaim and he wound up with big-ticket assignments involving legends like Sugar Ray Leonard, Roberto Duran, Tommy Hearns, Mike Tyson and Pacquiao. Surely, he deserves a place in the Hall of Fame.

Lastly, McTavish logged over 150 world title bouts and was named WBC Referee of the Year thrice. For over 14 years, he was the main lecturer in referee seminars at the WBC Convention. His assignments brought him all over the world, including Siberia and the Klong Perm Central Prison for Women in Bangkok. He worked Pacquiao’s last appearance in Manila against Oscar Larios in 2006. McTavish passed away last July at 84.

Queen energy literally reigned the penultimate episode of “Drag Race Philippines: Slaysian Royale” as the remaining four contestants cemented their status as the Final Four.

Three Filipina queens -Divine Diva sisters Vinas Deluxe and Brigiding of “Drag Race Philippines” Season 1, and Arizona Brandy of the following season – were joined by the sole international queen remaining, Suki Doll of “Drag Race Canada” Season 2.

The ninth episode of “Slaysian Royale” saw the four drag queens amp up their performances in the Music Video Challenge featuring the song “High Time” by Reyn4 (pronounced as “reyna”).

Reyn4, the first all-Filipina girl group launched by World of Wonder, features the three “Drag Race Philippines” winners Precious Paula Nicole (the last Divine Diva), Captivating Katkat, and Maxie Andreison as well as Season 1 runner-up and “Drag Race UK vs. The World” finalist Marina Summers.

The group assisted the contestants in making their music video additions while Marina served as the episode’s guest judge alongside “RuPaul’s Drag Race” Season 16 winner Nymphia Wind, the franchise’s first East Asian winner as she is part-Taiwanese.

Suki Doll and Vinas Deluxe had issues shooting the music itself while Arizona Brandy and Brigiding slayed the challenge.

Meanwhile, for the fashion runway bearing an awards night theme, Viñas Deluxe wowed the judges with a campy big mouth ensemble accompanied by her witty makeshift trophy that truly showed her brand as the Pambansang Bunganga.

It was Brigiding however who came out on top to win a third Ru Badge, the most of the season, capped by an elegant celestial look embodying her “brightest star” brand.

After Arizona was declared safe and a finalist with Brigiding, Viñas and Suki were pitted against each other for a heartfelt lip sync battle to the song “Power” by Morisette Amon.

Host Paolo Ballesteros called a double shantay for Viñas and Suki, handing their places in the “Slaysian Royale) finale which will air on October 15.

Adonis Production House will be holding a special “slaygendary” finale viewing party featuring over 25 drag queens and an afterparty with 10 of the 12 “Slaysian Royale” contestants.

Petroleum products valued at P9.14 million have been seized by agents of the police Criminal Investigation and Detection Group from three suspects in Balagtas, Batangas on Monday night.

The CIDG said criminal charges have been filed against the suspects identified only as Ed, Sama and Sid for violating Presidential Decree 1865, which penalizes the illegal trading and distribution of petroleum products.

The suspects were arrested after residents sought the help of the police regarding a fuel pilfering activity in Barangay Balagtas.

CIDG chief Maj. Gen. Robert Alexander Morico II said the suspects were caught pilfering fuel from two trucks parked in the area.

The trucks contained 40,000 liters of diesel, unleaded and premium fuel valued at P9.14 million.

Flag carrier Philippine Airlines (PAL) has urged government and private partners to come up with a Unified National Airport Masterplan to increase the country’s chances of keeping up with peers on visitor arrivals.

At the 2025 Philippine Aviation Summit, PAL chief operating officer Carlos Luis Fernandez said public and private stakeholders have to immediately craft a masterplan for airport development.

The masterplan has to outline the role of the Ninoy Aquino International Airport in the future, as gateways in Clark and Bulacan are competing for air traffic in Mega Manila.

Fernandez said the government also has to invest in upgrading secondary airports so they would be able to handle domestic and overseas flights. Without such an investment, he warned that the Philippines would stay behind Southeast Asian neighbors on visitor arrivals.

Last year, the country handled 60 million passengers through primary and secondary hubs. This is far from the air passenger traffic of regional peers, including Indonesia’s 156 million, Thailand’s 119 million, Vietnam’s 109 million, Malaysia’s 94 million and Singapore’s 68 million.

Singapore recorded more traffic through its single international airport in Changi Airport, when the Philippines operates nine gateways capable of handling foreign flights.

‘We need a masterplan standardizing secondary airports through night-rating, runway extensions and upgraded air navigational aides so they can serve as reliable mini-hubs,’ Fernandez said.

He also underscored that peers are building up their network of international airports, as Indonesia now manages 14; Vietnam, 12; and Thailand, nine.

The country is also struggling to boost cargo volume in spite of its favorable location in the heart of Asia and the Pacific. The Hong Kong International Airport is able to airlift five million tons of cargo, but all Philippine gateways can only combine 700,000 tons.

‘Every hour of delay threatens the freshness of tuna, bamboo and vegetable products and it adds cost to electronics and garment exports. By expanding cargo facilities in main hubs and enabling secondary airports to handle cargo efficiently, we can give micro, small and medium enterprises a fighting chance to reach their markets worldwide,’ Fernandez said.

By consolidating airport plans, Fernandez said the country can capture a larger share in Southeast Asia’s international arrivals, estimated to reach at least 187 million by 2030.

PAL, for its part, has committed to launch new flights and more frequency in its hubs across the Philippines in support of efforts to improve the country’s air travel.