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The Philippine Stock Exchange Inc. (PSE), the operator of the local equities and fixed-income markets, on Sunday said the market has not lost P5 trillion in less than one year, calling the claim as ‘dishonest, if not malicious.’

In a statement, the PSE said the comparing domestic market capitalization (MCAP) of the bourse as against total market capitalization, which included those also listed overseas, is like apples and oranges.

It said the claim ‘is clearly meant to provoke investors to lose confidence in the Philippine capital market and destabilize the economy.’

The PSE said it tracks two types of MCAP-the domestic and total market capitalization.

Domestic MCAP are those from Philippine companies that are primarily listed on the PSE.

Total MCAP, meanwhile, includes the domestic MCAP and also those listed overseas. These are Manulife Financial Corp., whose shares are also traded on the Toronto, Hong Kong, and New York stock exchanges; Sun Life Financial Inc., which is traded on the Toronto and New York stock exchanges; and Campos-led Del Monte Pacific Ltd., which is also traded at the Singapore stock exchanges.

‘Since only less than 1 percent of the outstanding shares of MFC and SLF and less than 5 percent of DELM are lodged for trading in PSE, [the] PSE uses domestic MCAP data as the MCAP reference number since it more accurately captures the performance of the Philippine stock market,’ the PSE said.

Domestic MCAP is down by P273.26 billion or 1.88 percent as of October 10, to P14.29 trillion from end of last year’s P14.56 trillion, the PSE said.

Foreign MCAP, which only includes the three firms, fell 11 percent for the period to P4.82 trillion from P5.44 trillion.

Total MCAP, meanwhile, fell by 4 percent or P886.84 billion to P19.12 trillion from the end of last year’s trading.

A post last October 10 on social media by a ‘pseudo-expert’ on the stock market advanced the claim that the PSE has lost up to P5 trillion in market capitalization since December 2024.

‘Unfortunately, this fake news was irresponsibly published on the same day and reposted the following day in an online tabloid that is known for prioritizing sensationalism that will generate clicks and engagements over providing news that have been fact-checked or verified, a minimum prerequisite required of legitimate journalists in this era where fake news is readily accepted as gospel truth,’ the PSE said.

Last week, Securities and Exchange Commission Chairman Francis E. Lim apologized for making a mistake when he said the corruption issue on flood control projects have wiped out about P1.7 trillion in market value of publicly listed companies.

Lim said the information was ‘based on what I believed at the time to be a credible industry report. I have since learned that the report was fictitious. 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.’

Malacañang has ordered the adoption and implementation of a 10-year national roadmap that seeks to transform the Philippines into Asia’s premier creative hub by 2030 through innovation, cultural entrepreneurship and talent development.

Executive Secretary Lucas P. Bersamin signed Memorandum Circular No. 103, approving and adopting the Philippine Creative Industries Development Plan (PCIDP) 2025-2034.

Under the circular, all government agencies, local government units and government-owned and -controlled corporations are directed to align their policies, programs and budgets with the roadmap.

The circular also stated that the Philippine Creative Industries Development Council (PCIDC) must review the plan every three years from the date of its execution.

‘In this Plan, we are laying down our strategy in strengthening the foundation of a creative ecosystem where creativity can flourish and Filipino talent can thrive,’ President Ferdinand R. Marcos Jr. said in his foreword.

The plan, developed by the Department of Trade and Industry (DTI) through the PCIDC, sets out the strategic framework for expanding the country’s creative economy.

It focuses on five priorities: building creative hubs and clusters, boosting entrepreneurship through research and technology, regenerating local economies through sustainable innovation, strengthening the global Filipino brand and nurturing the next generation of creatives.

The plan will be guided by the BEAMS framework-Build Creative Ecosystems, Empower Creative Workforce, Accelerate Inclusive Innovation, Mobilize Financing Support and Seize Market Opportunities.

The first three years will be focused on strengthening the foundations of the creative ecosystem by creating and refining policies to benefit stakeholders and supporting the workforce by aligning their skills with job market demands.

By 2030, the Philippines is expected to emerge as a ‘beacon of culture-led innovation’ and a ‘preferred partner’ in the global creative economy.

The plan envisions a creative ecosystem that fosters resilient jobs, knowledge exchange and new investments-transforming the country into a top destination for business, tourism, learning, and innovation.

‘By 2034, we will have achieved a more prosperous, inclusive, and resilient society enriched by vibrant creative industries. We will have helped transform the creative industries toward sustainability,’ the plan stated.

According to the Philippine Statistics Authority, the local creative industries generated P1.94 trillion of the gross domestic product (GDP), an 8.7 percent increase from P1.78 trillion in 2023.

In 2024, the creative industries posted a significant uptick in employment, with a workforce of 7.51 million individuals in traditional cultural expression activities; advertising, research and development; media publishing and printing activities; digital interactive goods and service activities; among others.

AS the series of earthquakes, severe weather disturbances and other natural disasters continue to inflict widespread infrastructure damage, the National Building Code needs urgent strengthening in order to ensure all structures are up to par and resilient, Sen. Francis Escudero said on Sunday.

An amendatory bill Escudero filed requires the conduct of updated inventories of buildings and periodic audits, especially in high-risk zones, and imposes tougher penalties for violators.

Escudero expressed deep concern for the families affected by the earthquakes that struck Davao Oriental and nearby areas on Friday -a magnitude 7.4 earthquake in the morning and a 6.4 in the evening, triggering two tsunami warnings and widespread evacuations.

‘I pray for prompt and effective action from relevant agencies and we must ensure the safety of all those affected, and the inspection of all structures that. Could have been affected,’ he added.

The powerful temblor followed the September 30 earthquake in Cebu province, which also caused tremendous damage to public and private structures.

Escudero renewed his call for the expeditious passage of Senate Bill 277 which he filed last July, seeking to strengthen the National Building Code through mandatory structural inspections and higher penalties for violations of construction regulations and safety standards.

SB 277 mandates regular, comprehensive structural inspections of buildings nationwide, with accountability measures for officials who issue fraudulent permits or clearances. The bill further aims to close the gap between policy and practice, ensuring that buildings are not only compliant on paper but structurally sound in reality.

Escudero emphasized that while the National Building Code provides general guidelines, it lacks specific provisions on earthquake resilience. Builders often rely on the 2015 National Structural Code of the Philippines, which requires buildings to withstand earthquakes ranging from magnitude 7 to 8.4.

‘But referral codes are not enough,’ he said. ‘We need enforceable standards and regular checks.’

Escudero cited the 2004 joint study by the Japan International Cooperation Agency, the Metropolitan Manila Development Authority, and the Philippine Institute of Volcanology and Seismology, which warned of catastrophic consequences should a 7.2 magnitude earthquake hit Metro Manila. It projected the collapse of 170,000 homes and deaths of over 34,000.

Under SB 277, local governments will be required to maintain updated inventories of buildings and conduct periodic audits, especially in high-risk zones. The bill also proposes penalties for non-compliance, including suspension or revocation of licenses for negligent officials and contractors.

Escudero called on his colleagues in the Senate to prioritize the measure, citing its potential to save lives and prevent billions in damage.

‘We owe it to our people to build not just with concrete, but with conscience,’ he said.

Efforts of nations to attract foreign direct investments (FDIs) should be complemented with initiatives to strengthen the domestic economy and achieve financial stability, according to experts from the Asian Development Bank (ADB).

In an Asian Development Blog, ADB economists John Beirne, Donna Faye Bajaro, and Pilipinas F. Quising said this is ‘crucial’ since FDI inflows can be ‘volatile.’

The volatility of these inflows usually depends on global financial conditions. These can then ‘trigger boom-and-bust cycles’ that can be a challenge for economies.

‘Sound domestic fundamentals can make economies more resilient to these global shifts. Trade openness and financial development are especially important,’ the economists said.

‘Financial development is equally critical. Strong local banking systems and financial institutions help manage risk, channel funds efficiently, and maintain access to international capital markets,’ they added.

The economists said countries should institute open trade policies which can signal stability and growth potential which are attractive to attract FDIs.

They also said it is crucial for countries to have a diverse export base to reassure investors that they are making the right decision to invest ‘even during uncertain trade conditions.’

In terms of financial development, the experts said countries also need ‘robust prudential and regulatory frameworks’ which will make global lenders more confident.

Policies that promote inclusive economic growth will also be good for FDIs.

‘Even with solid fundamentals, global financial trends will continue to shape capital movements. Complementing strong macroeconomic policies with prudent financial regulations and tools to manage capital flows can help developing economies better navigate sudden changes in global liquidity and investment patterns,’ the experts said.

The latest FDI data released by the Bangko Sentral ng Pilipinas (BSP) showed FDI net inflows declined by 7.5 percent to $1.3 billion in July 2025 from $1.4 billion in July 2024.

BSP said the decrease in FDI net inflows during the month resulted from lower nonresidents’ net investments in debt instruments, which fell by 39.4 percent to $711 million from $1.2 billion.

In the January to July period this year, FDI net inflows declined by 20 percent to $4.7 billion in January-July 2025 from the $5.9 billion posted in January-July 2024.

NEWLY-APPOINTED Chairman Vigor D. Mendoza II of the Land Transportation Franchising and Regulatory Board (LTFRB), has ordered all regional directors to submit comprehensive data on public transport franchises within seven days to formulate data-driven solutions to ease commuter woes.

Mendoza said the directive aims to determine how many units nationwide were granted authority to operate and how many remain active-data he described as essential in crafting evidence-based solutions to improve public transport services, especially in highly congested urban areas.

‘We have to get all these data so that we can decide properly. The Filipino people can be assured of data-based decision-making that will benefit millions of commuters,’ he said.

Mendoza emphasized that reliable data would enable the LTFRB to address long-standing problems in the transport sector swiftly and effectively.

‘Sobra ang dinadanas ng ating mga kababayan sa pag-commute mula pagpasok sa trabaho at paaralan hanggang pag-uwi, at araw-araw iyan. Gusto nating mapabilis ang aksyon,’ he said.

Mendoza was recently appointed as the new chairman of the LTFRB following his stint as the chief of the Land Transportation Office (LTO), where he cleared an 11-year backlog of vehicle license plates within two years, among others.

At the LTFRB, Mendoza vowed to bring the same focus and results-oriented leadership to ensure a commuter-centered transport system.

‘Suportado po ng ating Pangulo ang anumang hakbang na magpapagaan ng buhay ng mga commuters. On the part of the LTFRB, titiyakin natin na sa Bagong Pilipinas, mga commuter ang panalo sa maayos at serbisyong tapat,’ said Mendoza.

The Department of Agriculture (DA) has intensified its efforts to enhance farm productivity through the deployment of mobile soil testing laboratories nationwide.

Agriculture Undersecretary Roger Navarro urged farmers to take advantage of the Bureau of Soil and Water Management’s mobile soil testing laboratories (MSL) services to improve crop yields.

He noted that the MSL would also allow them to make informed decisions on the right seeds, fertilizers, and other inputs that would optimize their land.

Each mobile lab, worth P42 million, can conduct advanced analysis of up to 44 parameters that would cover soil chemical, physical, microbiological, and water chemical properties.

The DA said MSL is a key component of the National Soil Health Program, which aims to make soil testing accessible, reliable, and precise, particularly in remote agricultural areas.

‘The DA is offering these services free of charge to farmers growing rice, corn, high-value crops, vegetables, and root crops,’ Navarro said. ‘This is a valuable tool to help boost yields while minimizing the impact on soil health.’

The agency noted that all its Regional Field Offices (RFOs) have been equipped with an MSL.

It added that the pilot deployment of the MSL in Tarlac earlier this year demonstrated ‘promising results’ after analyzing 543 soil samples and producing 346 fertilizer recommendations covering 25 high-value crops.

The DA said 584 farmers and local stakeholders were trained in soil testing and sustainable fertilizer management.

Following this, the MSL deployment also generated Soil Health and Soil Fertility Maps, Soil Health Monitoring Reports, and personalized Soil Health Cards.

‘Soil health isn’t just about sustainability-it’s a sound financial strategy. With regular soil testing, farmers can cut input costs, improve yields and crop quality, reduce risks from drought or nutrient deficiencies, and ensure long-term soil productivity,’ the DA said.

‘By investing in soil health, the DA empowers farmers to make smarter decisions-leading to yield increment translating to greater profitability, improved resilience, and a stronger foundation for Philippine agriculture.’

MOST Filipinos believe current wages are no longer enough to meet the rising cost of living, with eight in 10 supporting a P200 daily pay hike, according to a new survey conducted by research firm WR Numero.

Findings from its August 2025 Philippine Public Opinion Monitor showed that 83 percent of adult Filipinos favor the proposed across-the-board P200 wage increase bill pending in the 20th Congress.

Only 9 percent oppose the measure, while 8 percent are undecided.

Support was strongest in South Luzon and Metro Manila at 87 percent each, followed by the Visayas at 86 percent, Mindanao at 79 percent, and North-Central Luzon at 77 percent.

Approval was also broad across income groups, with 84 percent each from Classes ABC and D, and 83 percent from Class E expressing support.

Larger households were more likely to back the increase, with 87 percent of those with six or more members agreeing to the proposed hike.

The same survey found that most Filipinos believe the P50 wage increase in Metro Manila last July is not enough to keep up with the rising cost of living.

The Department of Labor and Employment (DOLE) earlier announced the P50 increase for all minimum wage earners in the private sector in the National Capital Region-the biggest single wage adjustment granted by its regional board to date.

According to WR Numero, seven in 10 respondents (73 percent) said the P50 increase is insufficient, while 21 percent believe it was acceptable if implemented nationwide, and 6 percent found it adequate for now.

Disagreement was highest in Metro Manila (88 percent), followed by the Visayas (72 percent), South Luzon (71 percent), North-Central Luzon (70 percent), and Mindanao (70 percent).

In a text message to BusinessMirror, WR Numero said the strong public backing for the P200 wage hike reflects Filipinos’ continued focus on ‘gut issues’-or everyday economic concerns such as food prices, basic needs, and living costs.

‘Even when presented many issues, these ‘gut issues’ affecting daily life really matter to ordinary Filipinos, and it explains why support for raising wages is so strong. This is evident even across all income classes and regions,’ the research firm said.

WR Numero added that this sentiment also explains why raising workers’ wages (39 percent) ranked among Filipinos’ top policy priorities-next only to lowering food and essential prices (42 percent), and ahead of addressing illegal drugs and crime (29 percent).

The survey likewise showed that Filipinos continue to view poverty reduction (29 percent), job creation and livelihood opportunities (28 percent), and corruption (23 percent) as other major issues that require government attention.

The survey was conducted from July 29 to August 6, 2025, among 1,418 adult respondents nationwide, with a margin of error of ±2.6 percent at a 95 percent confidence level.

Several bills seeking a legislated nationwide wage hike are now pending in the 20th Congress, including proposals filed by Senators Bam Aquino and Risa Hontiveros.

In the previous Congress, both chambers pushed separate measures to raise the minimum wage but failed to pass a unified version.

The House of Representatives approved a P200 across-the-board increase in June 2025, while the Senate earlier passed a P100 hike in February 2024.

However, the two chambers failed to convene a bicameral conference committee to reconcile the measures before the 19th Congress adjourned sine die.

AS the Department of Education (DepEd) detailed its continuing response to restore learning in the most affected areas, the agency on Monday reported that the estimated total cost of repair and reconstruction stood at P4 billion for a total of 1,140 schools that sustained damage from recent earthquakes across eight regions.

On Monday, President Ferdinand R. Marcos Jr. on led national officials in Davao Oriental to assess the aftermath of the 7.4-magnitude earthquake that struck parts of Mindanao.

Based on the October 13, 12am report from the DepEd Disaster Risk Reduction and Management Service (DRRMS), a total of 1,140 schools sustained damage across eight regions, with 7,575 classrooms affected. Of these, 1,297 were totally damaged, 1,004 sustained major damage, and 5,274 suffered minor damage.

The hardest hit was Region XI (Davao Region), accounting for 764 damaged schools and over 5,350 totally damaged classrooms.

Marcos and Education Secretary Juan Edgardo ‘Sonny’ Angara joined the situation briefing in Tarragona, Davao Oriental, following their visit to Manay National High School, one of the severely affected schools.

The school faces an estimated P73.3 million worth of repairs and replacements for damaged classrooms and laboratories.

Angara assured the public that the Department is working closely with the Department of Public Works and Highways (DPWH) for structural integrity assessments and with the Department of Budget and Management (DBM) for possible Quick Response Fund (QRF) replenishment.

‘We will work with [Public Works and Highways] Sec. Vince [Dizon] on the QRF and also on new classrooms. If we can build bigger ones – so it’s anticipatory – it’s like build back better,’ Angara said.

DepEd has activated alternative learning modes, including modular distance learning and Edukahon, to ensure that learning continues even in damaged schools.

Temporary learning spaces and tent classrooms are being deployed in coordination with local governments and partner agencies.

The Department is also coordinating the replacement of damaged learning materials and ICT equipment, as well as the provision of psychosocial support for affected teachers and students.

Meanwhile, 14,925 teaching and non-teaching personnel were affected, with 57 reported injuries, while 168,945 learners were affected, including 187 injured students.

To support personnel, DepEd has activated financial assistance mechanisms, including the P150,000 Provident Fund loan and the GSIS emergency loan, and allowed flexible work arrangements until buildings are declared safe.

DepEd also confirmed that structural engineers from the DPWH Central Office have been on the ground since October 11 to conduct building integrity tests, following instructions from Angara and DPWH Secretary Vince Dizon during their initial inspection.

CONSUMERS will have to pay more for electricity and gasoline.

The price of gasoline per liter will go up by P0.30, starting Tuesday. Meanwhile, kerosene prices will go down by P0.20 per liter while diesel price remain unchanged.

For power rates, the Manila Electric Company (Meralco) announced an increase of P0.2331 per kilowatt hour (kWh) for October. This brings the overall rate for a typical household to P13.3182 per kWh this month from P13.0851 per kWh.

For residential customers consuming 200 kWh, the adjustment is equivalent to an additional P47 in their total electricity bill.

Generation charge, which is a major component of an electric bill, went up by P0.1903 per kWh.

Charges from Independent Power Producers (IPPs) and Power Supply Agreements (PSAs) increased by P0.3622 and P0.3567 per kWh, respectively, primarily due to the depreciation of the local currency against the US dollar, which affected 99 percent and 48 percent of their respective costs.

The increase was tempered by lower charges from the Wholesale Electricity Spot Market (WESM) that went down by P2.0688 per kWh owing to a decrease of about 1,000 MW in Luzon’s peak demand.

IPPs, PSAs, and WESM accounted for 21 percent, 74 percent, and 5 percent, respectively, of Meralco’s total energy requirement for the period.

Transmission, taxes, and other charges also registered a total increase of P0.0428 per kWh.

Pass-through charges for generation and transmission are paid by Meralco to the power suppliers and the grid operator, respectively, while taxes, universal charges, and Feed-in Tariff Allowance are all remitted to the government.

Meralco reiterates that its distribution charge, on the other hand, has not moved since the P0.0360 per kWh reduction for a typical residential customer beginning August 2022.

Customers also continue to benefit from the ongoing implementation of the distribution-related true-up adjustment, equivalent to a reduction of P0.2024 per kWh for residential customers.

With the recent earthquakes affecting parts of the country, Meralco assured its customers that it continuously safeguards its distribution facilities from potential hazards to ensure the safety of both of its crews and customers.

THE Maritime Industry Authority (Marina) has launched an intensified inspection campaign all over the country to ensure the seaworthiness of passenger vessels ahead of the expected surge in travelers for the All Saints-All Souls Days commemoration, when Filipinos traditionally visit the graves of their departed loved ones.

The simultaneous inspections, which will run until October 17, involve 14 inspection teams deployed from Luzon to Mindanao. As of October 12, the Marina reported that 132 vessels had already undergone compliance checks under the ‘Intensified Compliance Inspection’ program.

Marina Administrator Sonia Malaluan said the initiative is not a routine activity but part of the agency’s broader ‘Ligtas Biyaheng Dagat’ campaign to safeguard passengers and strengthen the culture of maritime safety nationwide.

‘The safety of life at sea should never be taken lightly. These inspections ensure that every operating vessel is safe, reliable, and compliant with regulations-not just for the Undas period but throughout the year,’ she said.

She noted that ships found with deficiencies during the inspections will be subject to monitoring and follow-up checks.

Malaluan emphasized that the agency will impose punitive actions against vessels or operators that fail to meet safety standards.