Aboitiz Power drives AEV’s 9-month earnings to P17.8 billion

Aboitiz Power Corp. led the earnings performance of Aboitiz Equity Ventures Inc. (AEV) in the first nine months of 2026, as higher electricity prices, increased contracted power sales and additional generation capacity offset weaker performance in other business segments.

AboitizPower reported net income of P26.2 billion for the January-to-September period, up 13 percent from P23.3 billion a year earlier, making it the largest contributor to the conglomerate’s earnings.

The power business contributed P14.1 billion to AEV’s consolidated earnings, accounting for about 64 percent of the group’s reported earnings mix.

AEV reported consolidated net income of P17.8 billion, a 2 percent increase from the same period last year, supported by stronger contributions from its power and banking businesses.

AboitizPower’s growth was driven by higher electricity market prices, greater volumes covered by supply contracts and additional generation from the Caliraya-Botocan-Kalayaan (CBK) Hydroelectric Power Plant Complex and newly commissioned solar facilities.

These gains more than offset the effects of lower coal plant availability during the period.

Excluding one-off items and foreign exchange gains and losses, AboitizPower’s net income rose 11 percent to P25.5 billion. Operating earnings increased 13 percent to P63.7 billion.

The company, however, recorded lower third-quarter net income of P7.8 billion, against P10.6 billion a year earlier, reflecting reduced availability of its coal-fired power plants.

AboitizPower continued to expand its generation and energy storage portfolio, including the groundbreaking in July of a 60-megawatt battery energy storage facility in Cebu, aimed at strengthening grid reliability.

The expansion comes as power demand and supply reliability remain important considerations for the country’s electricity market, particularly in the Visayas, where additional capacity and grid flexibility are needed to support economic activity.

Banking provides additional earnings support

Union Bank of the Philippines was another major contributor to AEV’s performance, reporting a 53 percent increase in net income to P9.9 billion.

The bank’s total revenue grew 8 percent to P65.5 billion, supported by higher lending income, banking fees and wealth management services. Net interest income increased 9% to P51.9 billion.

Loans to individual customers accounted for 62 percent of its total loan portfolio, while provisions for potential loan losses declined 4 percent to P15 billion.

As of September, UnionBank had P1.2 trillion in assets and P573.5 billion in loans, contributing P5 billion to AEV’s earnings. The bank also reported serving more than 19.5 million customers in its October earnings announcement.

Mixed results across other businesses

AEV’s food and beverage operations, comprising Aboitiz Foods and Coca-Cola Europacific Aboitiz Philippines, contributed P4.7 billion, down from P5.2 billion a year earlier.

Higher beverage volumes at CCEAP and gains in regional livestock feeds, trading, pet food, specialty nutrition and fish feeds at Aboitiz Foods were partly offset by weaker farm and meat operations, amid import competition and softer domestic demand.

In real estate, AEV’s earnings fell sharply to P7 million from P1.7 billion, reflecting the absence of significant land sale gains recorded in 2025 and the timing of economic estate lot sales.

Residential operations nevertheless reported improved sales quality and fewer forfeitures, while economic estates benefited from higher occupancy and rental rates.

In infrastructure, AEV’s share of Aboitiz InfraCapital’s losses narrowed to P520 million from P668 million, helped by increased passenger traffic at Mactan-Cebu International Airport and contributions from the Laguindingan and Bohol-Panglao international airports.

However, Republic Cement continued to weigh on the segment, with AEV’s share of its losses increasing to P1.2 billion from P1.1 billion. Total infrastructure losses attributable to AEV reached P1.7 billion.

Despite the improvement in its nine-month earnings, AEV’s third-quarter net income dropped to P4.1 billion from P8.9 billion a year earlier, highlighting the uneven performance of its businesses.

As of September 30, AEV had total assets of about P1 trillion and cash holdings of P84.8 billion. Total liabilities stood at P621.2 billion, while equity attributable to parent company shareholders increased to P301.9 billion.

The group maintained a current ratio of 1.1 times and a net debt-to-equity ratio of 0.9 times.

In May, AEV received an A- investment-grade credit rating with a stable outlook from Japan Credit Rating Agency, which cited its diversified portfolio, recurring cash generation and financial management.

The results show the growing importance of power generation to AEV’s earnings base, with AboitizPower providing the largest share of profits as the conglomerate navigates differing operating conditions across its businesses.

South-West public school students develop apps to combat banditry, internet scams

It was a parade of talent and skills on Friday in Ibadan as students from public secondary schools across the South-West gathered at the University of Ibadan to demonstrate digital applications they had developed.

Two schools developed applications to combat terrorism and banditry, while other projects targeted internet scams, examination malpractice and challenges in social interaction, learning and assessment.

Students of Aramoko District Commercial Secondary School, who came first, designed a mobile application that provides users with a quick and accessible means of seeking assistance when faced with kidnapping, banditry and other security emergencies.

The app also enables users to share their locations with trusted contacts.

Presenting the application at the second Byte Busters Coding Club Showcase, held on Friday at the International Conference Centre, University of Ibadan, the Aramoko school team leader, Johnny Pius said it was developed to help tackle kidnapping, banditry and other crimes.

The 2026 showcase was organised under the Digital Education for Innovation and Economic Development (DEFINED) Project of the Odu’a Investment Foundation.

The school team leader added that the app would enable users to establish communication with trusted contacts and obtain assistance when in danger.

‘The Safe Guardian App is a personal safety companion that allows users to make quick responses when they find themselves in emergency situations. It is designed to enable users to share their live locations with their trusted contacts whenever they are in danger,’ he said.

Pius said the application was also intended to help curb kidnapping, banditry and other security threats by providing a safer means of calling for help.

‘Safety is important, so having a mobile device application like the Safe Guardian App on your phone provides a safer way of asking for assistance and calling for help when you find yourself in an emergency situation,’ he said.

Other projects featured at the showcase included an artificial intelligence-powered computer-based test platform; Tomato AI, which explores technological solutions in agriculture; an emergency response system; a sign language application; and an AI-powered marketplace for local traders.

The students also presented solutions aimed at reducing post-harvest losses in maize production, as well as a Yoruba-English translation application.

The projects demonstrated how students were applying digital skills acquired through the programme to address challenges in education, agriculture, commerce, communication and public safety.

In her remarks, the Chairman of the Advisory Council of the Odu’a Investment Foundation, Ambassador Olatokunbo Awolowo Dosumu, said the increasing sophistication of the students’ projects demonstrated the importance of giving young people opportunities to help shape the digital future.

While commending the pivotal role of the DEFINED Project director, Professor Seun Kolade, she said the foundation remained committed to expanding access to technological education, particularly among public school pupils.

‘Our young people are growing up in a world in which artificial intelligence, digital platforms and new technologies will shape how they learn, work, communicate and create,’ she said.

‘It is therefore not enough for them to become passive users of technologies developed elsewhere. We must give them the confidence and capability to participate actively in shaping the digital future.

‘I am especially delighted by the continued expansion of the programme and by the increasing sophistication of the projects being developed by the students. From applications addressing learning and accessibility to ideas connected with agriculture, commerce, public safety and indigenous language, these young people are showing us what becomes possible when talent is given opportunity.

‘The foundation has also widened its approach through the Digital Literacy Training for Teachers programme, recognising that sustainable transformation in education must include those who stand in our classrooms every day.

‘By equipping teachers with practical digital skills and using a train-the-trainer model, we are building capacity that can multiply far beyond the first cohort.

‘The success of Byte Busters should strengthen our determination to reach more pupils, particularly in underserved communities. There are many more children across our region with the same curiosity and potential as those presenting here today. What they need is access.’

She, therefore, called on the six owner states, corporate partners, philanthropists, old students’ associations and friends of the foundation to deepen their support for the initiative.

The Chairman of Odu’a Investment Company Limited, Dr Tola Kasali, represented by a director of the company, described the programme as an investment in human capital and the future economic development of the South-West.

He said the region’s future prosperity depended partly on the quality of education, skills and opportunities available to its young people.

According to him, digital education has become essential in preparing young people for the demands of a knowledge-driven global economy.

Kasali noted that the Byte Busters Coding Club exposed public secondary school students to coding, artificial intelligence, computational thinking and digital creativity, enabling them to develop practical solutions to societal challenges.

He also called for stronger collaboration among governments, educational institutions, the private sector, technology companies and community organisations to bridge the digital skills gap.

In his address, the Project Director of DEFINED, Professor Seun Kolade, said the quality of the projects showed that public school pupils could become creators of technology when given the necessary exposure and opportunities.

Kolade disclosed that the programme, which began last year with approximately 100 pupils from nine centres, had expanded to 20 centres across the six South-West states, covering 18 local government areas.

He said more than 4,500 learners had benefited from the initiative, while over 220 pupils were expected to participate in this year’s showcase.

He said the programme’s progress had shifted attention from whether public school pupils could acquire digital skills to how many more children could be reached.

‘The question now is bigger: how many of our children are we prepared to give this opportunity, and how boldly are we prepared to invest in their capacity to shape the future?’ he said.

According to him, the projects reflected a transition from access to technology to the ability to use it independently, with young people moving beyond learning how technology works to applying it to real-life problems.

He cited the students’ innovations in agriculture, communication, education and commerce as evidence of the possibilities that could emerge when young people were encouraged to experiment and create.

Kolade stressed that teaching children to code went beyond producing future programmers, noting that it also developed critical thinking, problem-solving, collaboration and resilience.

He called on governments, businesses, old students’ associations, philanthropists and diaspora communities to support the programme’s expansion by providing computers, internet connectivity, learning facilities, equipment and sustained funding.

Kolade disclosed that 72 teachers from the six South-West states participated in the first cohort of the teacher training programme, with 67 successfully completing it.

He said the programme adopted a train-the-trainer model to enable participating teachers to transfer their knowledge to other educators in their communities, with a target of training 3,000 teachers by the end of the year.

He said the next phase of the initiative would focus on reaching more schools and communities, stressing that access to digital education should not be determined by geographical location or economic background.

The organisers said the programme was designed to equip young people with the skills and confidence to contribute to technological innovation and economic development in Nigeria and across Africa.

In his remarks, the Pro-Chancellor of Emmanuel Alayande University of Education, Professor Ayoade Ogunkunle, called for greater investment in digital education at both primary and secondary school levels.

He said it was instructive and worthy of note that Chief Obafemi Awolowo introduced free education in Western Nigeria and his daughter, Dr Awolowo Dosumu currently leads efforts that promote free digital education in the region.

He added that stakeholders needed to build on the educational legacy of Chief Awolowo and others who had transformed the sector.

Ogunkunle also urged the students to seize the opportunity to advance in their chosen careers.

Speaking in the same vein, Mr Kunle Shodein urged the students to keep abreast of global technological developments.

‘The world is moving on. This initiative shows that the South-West is moving in the right direction,’ he said.

Insecurity: Navy marines kill 34 terrorists, disrupt operations in Lake Chad

The Nigerian Navy Marines at the Naval Base Lake Chad, in conjunction with the 403 Amphibious Brigade of the Nigerian Army, operating under Operation HADIN KAI, have killed 34 Boko Haram terrorists (BHT) in the Lake Chad area.

This was contained in a statement made available to defence correspondents in Abuja on Saturday by the Naval Spokesman, Navy Captain Abiodun Folorunsho.

The statement explained that the Nigerian Navy Marines conducted offensive operations against terrorist elements on October 28, 2026, with initial reports indicating that eight terrorists were killed in action.

It added that a subsequent Battle Damage Assessment revised the casualty figure to 28 terrorists killed in action.

According to the statement, in a separate operation on October 30, 2026, the Nigerian Navy Marines deployed at the Naval Base Lake Chad conducted another offensive strike against an identified Boko Haram terrorist enclave at Dumba.

It further explained that the operation followed Intelligence, Surveillance and Reconnaissance missions that facilitated the identification and monitoring of terrorist elements before a precision strike was executed.

According to the statement, a preliminary Battle Damage Assessment indicated that six terrorists were neutralised, while several others reportedly sustained injuries.

It noted that the casualty figures remained subject to further verification as operational assessments continued.

The statement added that the recently established Nigerian Navy Marines had served as a force multiplier under Operation HADIN KAI, strengthening offensive operations against terrorist elements.

According to the statement, ‘Their operational contributions have enhanced the capacity to target terrorist enclaves, disrupt hostile activities and deny Boko Haram terrorists freedom of action within the Lake Chad area.

‘These efforts continue to support the degradation of terrorist capabilities and advance ongoing operations to restore peace and stability in the North-East.’

It reaffirmed the Nigerian Navy’s commitment to supporting joint operations through sustained offensive action and intelligence-driven engagements to strengthen national security and protect vulnerable communities.

PBA: TNT sweeps way to semis, handles Magnolia

TNT marched on to the semifinals of the PBA Governors’ Cup after finishing off Magnolia, 98-87, on Saturday for a sweep of their best-of-five quarters series at Ninoy Aquino Stadium.

Rondae Hollis-Jefferson put up another big performance with 38 points, nine rebounds and three assists as the Tropang 5G delivered the knockout blow on the Hotshots with three convincing victories.

Rey Nambatac had 13 points, five rebounds and five assists while RR Pogoy added 12 and 10 points for TNT.

The Tropang 5G advanced to the semis to face either Barangay Ginebra or the San Miguel Beermen in the semis, also a best-of-five.

The semis will begin in December following Gilas Pilipinas’ campaign in the fifth window of the Fiba World Cup Asian Qualifiers.

Import KJ Buffen scored 31 points but the Hotshots saw another disappointing quarterfinal exit despite topping Group B.

Magnolia never got it going in the series, as Hollis-Jefferson showcased the form that made him win three championships and three Best Import awards.

It also ended the rookie season of coach LA Tenorio, who still has a lot of work cut out after being eliminated in the quarters of all three conferences in Season 50.

CAN reacts to conviction of christian woman in Borno

The Christian Association of Nigeria (CAN) has expressed concern over the reported conviction and imprisonment of a Christian woman, Lami Samuel Dawa, in Borno State.

In a statement signed by its President, Archbishop Daniel Okoh, CAN said it was concerned by reports that the case was linked to the woman’s decision to convert from Islam to Christianity.

However, the association said the exact details of the case and the legal reasons for her conviction were still being verified.

CAN disclosed that an appeal had been filed and said it would allow the legal process to continue.

The association said the case raises important questions about religious freedom and the fundamental rights guaranteed by the Nigerian Constitution.

It stressed that every person has the right to choose, change or practise their religion without force, intimidation or unlawful punishment.

CAN called on the relevant authorities to protect the rights of everyone involved and ensure that justice is served in line with the Constitution and the law.

The Christian body also said it would continue to monitor the case and engage with the relevant authorities through legal and other appropriate channels.

CAN reaffirmed its commitment to peaceful coexistence among Nigerians of different religious backgrounds and the protection of every citizen’s fundamental rights and freedoms.

Suspected NPA leader slain in South Cotabato encounter

A suspected leader of the Regional Instructors Bureau of the communist New People’s Army (NPA) was killed in an encounter with the military and police in Polomolok, South Cotabato Friday evening.

Brig. Gen. Edgar Catu, commander of the Army’s 6th Infantry Division, identified the fatality as Noel Pamaong, also known by the aliases ‘Lauro’ and ‘Santi.’

He had an outstanding warrant of arrest for multiple attempted homicide issued on July 6, 2023, by the Regional Trial Court (RTC) Branch 26 in Surallah, South Cotabato.

Pamatong reportedly resisted arrest and traded shots with lawmen, forcing soldiers to return fire.

Catu said the operation was carried out by personnel of the Army’s 1st Mechanized Infantry Brigade, led by Brig. Gen. Omar V. Orozco, and the 603rd Infantry Brigade, under Col. Manuel Leo Q. Gador and operatives of the South Cotabato Police Provincial Office (PPO).

During the operation, authorities recovered a .45-caliber pistol and a hand grenade.

Catu, also commander of Joint Task Force Central, underscored the importance of close coordination among security forces in conducting law enforcement operations.

Catu commended the personnel of the 1st Mechanized Brigade and 603rd Infantry Brigade, as well as the South Cotabato Police Provincial Office and the local residents who continue to support efforts to maintain peace and security in their respective areas of responsibility.

Catu said the follow-up operation is ongoing to locate Pamatong’s companions still in the mountains of South Cotabato.

Osun NUJ honours outstanding members at ‘Day with Past Leaders,’ night

The Nigeria Union of Journalists (NUJ), Osun State Council, has honoured its outstanding active members with professional awards of excellence during the ‘Day with Past Leaders’ programme, separate from the Asun Night that followed later in the evening.

The awards were presented on Friday at the ‘A Day With Past Leaders, Professional Awards and Dinner’ held at the NUJ Press Centre in Osogbo, as part of activities marking the union’s 35th Anniversary and 2026 Press Week. Categories included Best Newspaper Journalist of the Year, Online Journalist of the Year, Best Investigative Journalist of the Year, and Broadcaster of the Year (Yoruba and English), among others.

Veteran journalist Adetoyese Shittu Alamu, a retired Director at the Osun State Broadcasting Corporation (OSBC) who served as Master of Ceremonies at the event held 35 years ago to inaugurate the Osun NUJ, took members down memory lane, highlighting the various roles played by members of the council, some of whom have passed away. Other veterans also spoke glowingly of the event’s significance, particularly appreciating the Council Chairman, Comrade Adeyemi Aboderin, for the thoughtful and memorable programme.

FG deploys five electric buses in Kano to crash transport fares by 40%

The Presidential Initiative on Compressed Natural Gas and Electric Vehicles (Pi-CNG and EV) on Saturday handed over five electric buses to transport operators in Kano to provide affordable transportation for commuters.

The News Agency of Nigeria (NAN) reports that the 20-seater electric buses were handed over to two transport operators, Camel Mobility and Kano Metropolitan Transport Company, in Kano State.

Speaking at the handover ceremony in Kano, Ahmed Katuka, Manager, Assets of Pi-CNG and EV, said the deployment was expected to reduce transport fares for commuters by at least 40 per cent.

Katuka said the electric buses were in addition to the existing fleet of 14-seater and high-capacity buses already deployed to the state.

He said the initiative was part of the Federal Government’s unwavering commitment to promoting cleaner, safer, more affordable and sustainable transportation across the country.

‘This strategic intervention shows the Federal Government’s determination to accelerate the transition towards cleaner energy and modern mobility solutions while improving access to affordable public transportation.

‘The deployment is expected to significantly reduce the cost of transportation for commuters, with fares projected to be at least 40 per cent lower than prevailing conventional transport fares.

‘Beyond affordability, the initiative will contribute to reducing carbon emissions, improving passenger safety and comfort, and promoting environmentally friendly urban mobility.

‘This progressive expansion reflects our commitment to strengthening public transportation infrastructure, empowering private sector operators and ensuring that the benefits of the Federal Government’s cleaner mobility agenda translate into tangible improvements in the daily lives of Nigerians,’ Katuka said.

Responding after receiving the vehicles, the Chief Operating Officer of Camel Mobility, Ahmed Garba-Ahmed, commended the Chairman of Pi-CNG and EV for what he described as a wonderful initiative and innovation in the sector.

He said the electric vehicle sector was a large ecosystem and described the development as welcome, adding that the initiative would go a long way towards providing efficient transport solutions for the people of Kano.

Garba-Ahmed pledged that the vehicles would be put to use to ease transportation for residents of Kano. He noted that similar buses were already operating in Abuja, Lagos and other states across the country.

He appealed to the Kano State Government to provide dedicated corridors, bus stops, an enabling environment and adequate security arrangements to ensure the efficient operation of the vehicles.

On his part, the Manager of the Kano Division of the Kano Metropolitan Transport Company, Ahmad Rufai-Yusuf, said the initiative would reduce motorists’ fuel costs and, in turn, lower transport fares for passengers.

DepEd gains international recognition for improved PISA results

The Department of Education (DepEd) gained international recognition for its recent performance improvements in the Programme for International Student Assessment (PISA).

Harvard Graduate School of Education dean Nonie Lesaux praised the Philippines for its 2025 PISA results, where the country emerged as the world’s fastest-improving nation in reading performance and ranked among the top improvers overall, significantly increasing scores across reading, mathematics and science.

Education Secretary Sonny Angara welcomed the commendation, emphasizing that external validation serves as a morale boost for the country’s teachers and learners while underscoring the urgency of compounding these early gains through systemic reforms.

‘We see this as a clear mandate to work harder. Our goal is to ensure that every Filipino child is actually learning, comprehending and thriving,’ Angara said during a forum organized by the Harvard Club of the Philippines Global at the Manila House Private Club in Bonifacio Global City.

The dialogue, attended by DepEd officials and Harvard alumni, focused on strategies to transform foundational learning, strengthen teacher competencies, utilize education-technology effectively and bridge persistent learning gaps.

Lesaux, an internationally recognized scholar in language and literacy development, shared insights closely aligned with DepEd’s ongoing structural interventions.

These include the flagship Academic Recovery and Accessible Learning (ARAL) Program, which has driven measurable gains in literacy and grade-readiness.

‘When experts from institutions like Harvard point out that our PISA performance trends are moving in the right direction, it tells us that our teachers are delivering, our kids are catching up and our programs like ARAL are hitting the mark. But the real work lies in scaling these successes so that geography or background never dictates a child’s future,’ he added.

Filipino indie game platform Alon launched at Gamescom Asia

The Game Developers Association of the Philippines (GDAP) recently unveiled ‘Alon,’ a distribution platform built for games made by Filipino studios and indie game developers in the Philippines. It is a partnership between GDAP, payments and game services company Xsolla, and the Department of Trade and Industry’s Export Management Bureau (DTI-EMB).

Alon was officially unveiled at Gamescom Asia in Bangkok, at the Philippine Pavilion, with Xsolla sharing the cost of the launch.

Not a Steam competitor, by design

According to GDAP President Ria Lu, Alon may look a lot like Steam or Itch.io, but GDAP says it isn’t trying to compete with them. The platform is non-exclusive, and games on Alon can also be sold on Steam and elsewhere. The problem GDAP is solving is fragmentation.

According to the association, the Philippine games industry is scattered enough that putting together a showcase takes a fresh call for participants every time. Government-linked events, including those run with the Department of Foreign Affairs (DFA) and Philippine embassies, often give short notice, and GDAP says it has sometimes ended up presenting only three games. A single catalog lets GDAP and its partners show publishers, investors, and collaborators what the country is making without starting from scratch each time.

For developers, Alon takes a 15% platform fee, which GDAP says is lower than most other platforms charge.

Promoting local indie game talent

GDAP says there is no dedicated government funding behind Alon. Promotion will come from existing channels. DTI-EMB already sets up Philippine Pavilions at major international game events, and Alon will be featured in them. GDAP is also working on a standard process for DFA to promote Alon and Philippine games at its events throughout the year, including non-game events.

A pilot ran last year at Frankfurt’s Ube Festival, where Puzzled Purple, Ube Hops, and Ube Rush were shown, along with ube-themed versions of Snake.io and Sort of Sweet. GDAP is designing a similar arrangement with the Philippine Trade and Investment Center (PTIC), aimed at investors, publishers, and collaborators.

Xsolla maintains Alon’s technology. As on Steam, the platform generates keys for each game, and GDAP says the system will keep improving after launch. Because payments are Xsolla’s core business, Alon can accept most payment types, from credit cards to digital wallets.

Developers who are interested to join the ecosystem have to contact GDAP to be considered. The association says it checks games for quality since they effectively represent the country. Alon currently carries only completed premium PC and Mac games. Mature-rated titles are not accepted, while general patronage and parental guidance ratings are fine. GDAP says the process will get easier over time.