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PH consumers, firms turn less gloomy

Filipino consumers and businesses remained pessimistic in the third quarter, but their outlook brightened sharply as they anticipated higher incomes, stronger demand and improved profits, according to the Bangko Sentral ng Pilipinas (BSP).

The central bank’s survey of 5,476 households found that the consumer confidence index rose to -29.8 percent in the third quarter from -42 percent in the second quarter.

A negative reading means pessimists still outnumbered optimists.

The improvement reflected consumers’ expectations of higher earnings, new sources of income and stable employment, the BSP said.

Business sentiment followed a similar path.

The confidence index for 501 firms rose to -10.9 percent in August from -20.3 percent a month earlier.

Stronger demand

Companies cited expectations of stronger demand for essential goods, loan products and construction activity as reasons for their less pessimistic outlook.

The shift could provide a lift to consumer spending and business activity in the months ahead, but the still-negative readings suggest that households and companies have yet to regain enough confidence to drive a broad-based recovery in demand.

Survey data showed consumers expect inflation to hit 4 percent in the year ahead, still above the central bank’s 3-percent target.

It was also higher than their 3.3-percent expectation in the second quarter, with households pointing to limited government measures to insulate them from rising prices, especially higher food and utility costs.

Consumers also anticipate further currency depreciation, as well as higher unemployment and borrowing rates.

That said, the spending outlook of households became less optimistic while their saving intention turned positive.

Favorable job prospects

Meanwhile, businesses expect financial conditions to become less tight, though credit access is seen turning slightly tighter.

At the same time, employment prospects were more favorable, as the share of businesses planning to hire more workers over the next 12 months increased to 30.7 percent from 9 percent before.

Looking ahead, the consumer confidence index for the fourth quarter improved to -0.8 percent from -16.3 percent previously.

Sentiment for the next 12 months likewise turned more optimistic, rising to 9.1 percent from 0.2 percent before.

Respondents are expecting higher earnings, new income sources and improvements in governance.

Business outlook for the next three months also became more positive, rising to 24.6 percent from 3.7 percent before.

Unity Colleges reopen on Monday as union gives 14-day ultimatum

Federal Unity Colleges nationwide reopened on Monday, after weeks of protests by the senior civil servants and parents over the concession of King’s College, Lagos to the King’s College Old Boys’ Association (KCOBA) by the federal government.

As a result of the impasse, all 117 colleges were shut down, and academic activities were grounded, as a result of protests by the workers and parents who kicked against the concession plan.

BusinessDay correspondent who visited King’s College, Lagos, confirmed that the students have resumed academic activities as they were seen seated in their various classes waiting for the teachers.

However, a chat with Samuel Enag, unit chairman of the Association of Senior Civil Servants of Nigeria (ASCSN), revealed that the resumption is tentative.

‘We have resumed tentatively, for 14 days, to monitor the outcome of the minister’s meeting with the Trade Union Congress, the Association of Senior Civil Servants of Nigeria and other affiliated unions.

‘We still maintain our stand on reversion of the proposed concession of King’s College, Lagos. The old boys can contribute to the development of their alma mater, but not to take over the management of the school,’ he said.

Meanwhile, a parent who spoke with BusinessDay reporter said they were sent a circular last week on the resumption.

‘We received a notice last week that students should resume today, and were given seven days to pay the fees, though they’re yet to tell us how much the fees are,’ the parent said.

Recall that BusinessDay had reported that ASCSN called off its strike over the concession of King’s College, Lagos, clearing the way for the reopening of the country’s Federal Unity Colleges.

A communiqué issued on Wednesday showed the resolution followed a meeting in Kano on Tuesday between the leadership of the Trade Union Congress of Nigeria (TUC), the ASCSN and zonal coordinators of the Unity Schools.

The union leaders agreed to suspend the industrial action to give a seven-member committee room to review the concession document for King’s College.

The strike had kept all Unity Colleges shut for about two weeks after the ASCSN and the Parent Teacher Association protested the federal government’s decision to concede King’s College to its old boys’ association.

The colleges were due to resume on September 13, but workers boycotted the date, arguing that the concession threatened the future of the Unity College system.

According to the communiqué, the TUC, ASCSN and zonal coordinators reviewed both the agreement earlier reached between labour and the Federal Ministry of Education and the King’s College concession document, before resolving ‘to suspend the ongoing strike action in the Unity Colleges to enable the seven-man committee to review the concession document.’

Bulacan town honors little-known revolutionary hero

Bulakan officials last week commemorated the 150th birth anniversary of a revolutionary hero, whom the new generation needs to know again: Gen. Anacleto ‘Matanglawin’ Enriquez.

Bulakan Mayor Vergel Meneses led a wreath-laying ceremony before the hero’s bust inside the San Francisco Elementary School on Friday.

Enriquez was born on September 25, 1876, and was killed in battle at the age of 20 years old inside the San Rafael town church along with hundreds of revolutionary troops and civilians 129 years ago on Nov. 30, 1896.

Enriquez led the Balangay Uliran Philippine Revolutionary forces in Bulacan against the Spanish Army in what may be one of the bloodiest conflicts of note during the initial uprisings against Spanish control, according to a lecture given by historian, Professor Roberto ‘Beto’ Reyes, and organized by Kabesera Inc., the heritage, cultural and historical group of Bulakan.

According to Reyes and the accounts of scholars, Spanish forces armed with bayonets stormed the church at around noon and killed Balangay Uliran members and hundreds of civilians trapped with them. Balangay Uliran had retreated to the church following a series of battle skirmishes. The conflict supposedly left ankle-deep blood splattered across church grounds.

He chose to be a revolutionary

At twenty, Matanglawin did not embrace the upper-class status of their family.

Matanglawin was named after his grandfather Anacleto, a Spanish leader and son of Spaniard Rafael Enriquez. His grandmother on his mother Petrona’s side of the family was Monica Gatmaitan, the first cousin of Blasa Gatmaitan, the mother of Marcelo H. Del Pilar.

‘He had the opportunity to benefit from the wealth of his family, but he chose to lead a revolutionary troop at his young age. He is good in talking to people, enhancing members, strengthening the organization,’ said Reyes, who referred to Matanglawin as ‘Lolo Etoy.’ Reyes is the grandson of Judge Bonifacio Enriquez, Matanglawin’s younger brother.

Reyes said he learned many accounts of Matanglawin from tales shared by his grandmother, Virgilla Villaroman Enriquez.

Matanglawin was the second of nine siblings-Alfonso, Severina, Victoria, Paula, Vicente Jr., Jose, Laureano, and Bonifacio – who were the children of Don Vicente and Dona Petrona Enriquez, both from rich and prominent families.

Matanglawin took part in the Philippine Revolution in 1895 as the leader of Balangay Uliran.

Tasked to strengthen revolutionary forces in Bulacan

According to Reyes, Gen. Anacleto became close to Supremo Andres Bonifacio and was tasked of strengthening the revolutionary forces in Bulacan. Based on accounts, the Enriquez house in Barangay San Jose was where the Katipuneros of Bulakan met discreetly.

The Balangay Uliran leader was also a neighbor and playmate of Gen. Gregorio del Pilar, another Bulakan hero who died in battle at the age of 24 years old as his militia held off Spanish troops at Tirad Pass.

According to Reyes, honoring Matanglawin is also recognizing the nameless 800 members of Balangay Uliran and the civilians who perishef at the San Rafael church.

Piece of marble flooring from the church

Below the Matanglawin bust is a piece of the actual marble flooring at the baptismal area of the San Rafael church which was bloodied after the conflict.

The piece of church flooring was retrieved in 1968 and brought to Bulakan by that period’s Bulakan mayor, Artemio Meneses, with the help of Police Sgt. Francisco Hernandez and Patrolmen Roberto Morelos, Ricardo Marcelo and Oscar Salvador.

UNITED NATIONS-ANTIGUA-Antigua and Barbuda endorses Ecuador former minister for top UN post

Antigua and Barbuda Monday disagreed with the majority of its Caribbean Community (CARICOM) member states and reiterated its support behind a former foreign affairs minister and defense minister of Ecuador for position of the United Nations Secretary General, saying the new holder of the post will inherit a global organisation confronting wars and conflicts that devastate lives and undermine international capability.

CARICOM countries have been using the on going 81st session of the United Nations General Assembly (UNGA) to reaffirm their support for Guyana’s Ambassador to the United Nations, Carolyn Rodrigues-Birkett, who was officially endorsed as the region’s candidate during the CARICOM summit held in St. Lucia in July this year.

She is one of seven candidates, including four women, seeking to replace Antonio Guterres, who second five year term ends in December this year.

But in his address to the UNGA on its final day, the chair of the Antigua and Barbuda delegation to the UNGA, Ambassador Walton Webson, said deep geopolitical divisions will exist and that financial constraints, the climate emergency, and declining trust will test the organisation’s capacity to respond.

The prominent, legally blind diplomat said that the choice before the globl community is about more than selecting an individual and more about the future direction of the United Nations.

‘That is why Antigua and Barbuda has nominated Maria Fernandez Espinoza to serve as the next Secretary General. We believe that she is the right leader for this moment. After more than 80 years, no woman has ever served as Secretary General.

‘The time is now. Our case for Ms. Espinoza rests not on gender, it rests on competence, experience, independence, and leadership. At a time of fragmentation, the United Nations needs a credible bridge builder capable of restoring confidence in multilateralism,’ Webson said.

He told the international community that Antigua and Barbuda believes that. Fernandez Espinoza demonstrated that when she was a leader of the General Assembly.

‘We believe that she can provide the leadership we need now,’ Webson said, adding that the United Nations must invest as seriously in preventing wars as it does in responding after they begin.

‘Diplomacy, mediation, and development must be central to that work. Throughout every crisis, one principle must remain constant. International law must apply equally to all. The credibility of the international system depends upon this consistency,’ he said, adding that the United Nations reform programme must extend to the Security Council.

‘Its composition, its decisions, and its capacity to act. Antigua and Barbuda welcomes the initiative led by France and Mexico, calling on the permanent members to refrain voluntarily from using the veto, but use it especially in situations of mass atrocities.

‘We will join the growing number of member states, last count 127, in supporting this call.The veto must not paralyse the Council’s work or prevent it from fulfilling its responsibility to maintaining international peace and security.’

Webson said that reform must also address representation questioning Africa’s continued exclusion from the permanent membership, describing it as ‘an injustice that must be corrected.

‘Africa must have permanent representation at the Security Council. Small island developing states (SIDS) must also have an assured seat at the table, and we call for a dedicated SIDS seat on a reformed Council.’

Webson said that the Council’s credibility depends equally on its response to those who urgently need its support.

‘The crisis in Haiti is a human tragedy and challenges Caribbean stability and democracy. We call on the Security Council to renew the mandate of the Gang Suppression Force and international partners to provide the personnel, equipment, and sustained finance needed to shape that mandate and make it effective.’

Webson said that the hardship faced by the Cuban people demands attention and that Antigua and Barbuda is calling on the United States and Cuba, ‘to return to the table of diplomacy and work as good neighbours would towards resolving their long-standing dispute.

‘The Cuban people must not bear the collective punishment for political disagreement. Their well-being must remain central to efforts to find a peaceful, lasting solution. Across our region, our purpose is clear – to protect human dignity, strengthen stability, and ensure that dialogue and cooperation prevail.’

The Antigua and Barbuda diplomat also noted that multilateralism is under ‘profound strain.

‘Economic uncertainties continue to grow. Technology is racing ahead of governance. Artificial intelligence offers extraordinary possibilities, but it also raises profound concerns about who will control its development and share in its benefit.

‘Small island developing states must not be left out as spectators, nor can we accept an international system in which rules are binding upon the weak, but negotiable for the powerful.’

He said international law must apply equally and that sovereignty cannot depend upon power nor justice upon one’s friends.

‘Antigua and Barbuda commands neither a great army nor large markets. International law, cooperation and multilateralism are fundamental to our security and stability. For us, the United Nations is not optional. It is essential to our survival.

‘We support a more efficient, coherent and accountable United Nations. But efficiency cannot become another word for retreat,’ Webson said, noting that the UN80 reform process must be judged by whether this organisation serves people better.

He said that for SIDS that means protecting the development pillar, advancing implementation of the Antigua and Barbuda Agenda for SIDS, ABAS, and bringing effective support closer to those who need it most.

He said trade disputes, tariffs and economic fragmentation raises the cost of food, transport and development, noting that too often, small island states pay the price for disputes we did not create.

‘We call upon the major economies to choose dialogue and cooperation. Fairness, Mr. President, must also govern international finance. A hurricane does not check GDP (gross domestic product) before destroying a school. (

‘Rising seas does not consult income classification before entering a home or village. That is why the multivulnerability index matters. It provides a fairer measure of the structural vulnerabilities that small island states and it helps GDP because GDP alone cannot provide this measurement. ‘

Webson said that nowhere is the urgency greater than in the climate crisis, adding that for SIDS like his country, climate change is not a warning about tomorrow.

‘We are experiencing it today. Warmer oceans fuel more destructive hurricanes. Coastlines are retreating. Salt water destroys fresh water and throws upon it, forcing countries like Antigua and Barbuda to spend increasingly more costly means to secure fresh drinking water.’

He said that the UNGA’s high-level meeting on sea level rise placed before the international community fundamental questions of statehood, sovereignty, maritime rights, displacement, culture, and identity.

‘Climate change must never be allowed to erase a nation’s sovereignty, its statehood, or the rights of its people. Antigua and Barbuda and other vulnerable states sought clarity on the obligations of states in relationship to climate change.

‘The International Court of Justice has spoken. Climate obligations are not acts of generosity. They are responsibilities under international law. For small states, international law is more than a moral aspiration. It is our strategic shield.’

Webson said that for states, climate justice is survival, adding that climate justice cannot be separated from historic justice.

‘The Caribbean did not arrive at this moment on equal terms. Centuries of enslavement and colonial extraction transformed, transferred wealth from our societies and denied the generations the means to build prosperity.

‘Political independence did not erase those arms. Today, countries that contribute least to climate change must borrow at high costs and rebuild from disaster given overwhelmingly by emissions that we did not have anything but that comes from afar.’

He said this is where climate debt meets historic debt.

Antigua and Barbuda stands firm with CARICOM and Africa in demanding repertory justice for people of African descent. Repertory justice requires acknowledging responsibility, repairing, continuing harm, and correcting structures that still reproduce inequality.

‘Expressions of regret are not enough. Justice requires honest dialogue followed by concrete measures and repair and restoration and development. Repertory justice is not a favour. It is a claim grounded in responsibility, equality, and human dignity.’

Webson said that development finds its true meaning in the lives and dignity of people, noting that non-communicable diseases cut short too many lives and diminishes the quality of lives of too many people in his country and in the Caribbean region.

‘These diseases, detecting them early and ensuring effective treatment are national development priorities for Antigua and Barbuda. Mental health challenges are increasing. Preventable vision loss denies dozens and dozens of our people opportunities to learn, work, and live independently,’ he said, promising that Antigua and Barbuda will continue to champion mental health, strengthen its universal health programme to address non-communicable diseases, and place health firmly within its development priorities.

1.9m stop sacco savings as take-home pay drops

Dormant members in savings and credit co-operative societies (saccos) grew 14.1 percent to 1.9 million in the year ended December amid reduced disposable incomes that could have forced workers and traders to stop making contributions or borrow on their accounts.

Data from the regulator, the Sacco Societies Regulatory Authority (Sasra), shows 24.14 percent of the 7.87 million Sacco members did not transact on their accounts for more than six months last year.

This emerged in a period when analysts reckon workers’ purchasing power has declined over the past five years on the back of rising taxes, multiple statutory deductions and high cost of living.

Kenya Bankers Association (KBA), the bankers’ lobby, reckons that households’ purchasing power dropped by between 10.7 percent and 12 percent the past five years despite increased hiring and wages.

Owners of inactive accounts are often restricted from accessing their deposits and are required to pay a reactivation fee before retrieving their savings.

Sasra data shows 234, 603 members in deposit-taking (DT) and non-withdrawable deposit-taking (NWDT) saccos became dormant last year, up from 218,435 a year earlier.

Accounts that have remained idle for six months in DT-saccos are termed dormant, while those in NWDT-saccos have a longer period of a year.

Sasra CEO David Sandagi said the growth in overall membership amid deepening share of dormancy should be an ‘area of focus’ for saccos if they are to sustain deposit mobilisation pace that can fund rising appetite for loans.

‘One of the key observations we are making is the level of dormancy, albeit with an increase in overall membership. This must be an area of focus for saccos. It is one thing to leverage increasing membership, and it is another to ensure that economic activity of those members who have joined the sacco is stimulated,’ said Mr Sandagi.

Many saccos restrict withdrawals from accounts classified as dormant, requiring account holders to reactivate them by presenting their identification cards at branches, completing reactivation forms and making a deposit into the account.

Some saccos charge a reactivation fee of up to Sh300 and require a deposit of Sh100 to Sh1,000 in the account to lift the dormancy status.

Total membership in the 357 saccos under Sasra supervision increased 6.6 percent to 7.87 million last year from 7.39 million in 2024.

However, active membership grew by only 4.42 percent to 5.97 million, while dormant membership jumped 14.08 percent to 1.90 million.

The pressure is more pronounced among deposit-taking saccos, which accounted for the bulk of industry lending.

Their gross loans grew 12.98 percent, compared with an 11.89 percent increase in deposits.

The rise in inactive accounts emerged in the year when the economy grew at the slowest pace in five years at 4.6 percent while real wages-earnings adjusted for inflation-grew by 2.0 percent, marking the first time in six years for growth in workers’ earnings to surpass inflation.

The positive growth in real wages, however, masked the impact of increased statutory deductions — including the healthcare insurance levy, housing tax and higher National Social Security Fund (NSSF) contributions that ate into workers’ pay, keeping it below the 2020 levels.

The State uses gross income rather than take-home pay that hits workers’ accounts to compute real wages.

The increase in dormant membership in saccos came as loans grew faster than members’ deposits and savings, widening the gap between the funds saccos mobilise from members and the amount they lend to Sh115.93 billion at the end of December from Sh95.68 billion in the previous year.

Members’ deposits and savings remain the main source of funding for sacco lending, making the rising level of dormancy a concern for the industry.

Members’ deposits and savings increased to Sh832.74 billion from Sh749.43 billion recorded in the previous year, as gross loans and advances grew to Sh948.67 billion from Sh845.11 billion.

Sasra said the mismatch between the appetite for loans and deposits mobilisation has forced saccos to utilise reserves and external loans for lending.

‘While deposits have continued to grow steadily, a notable gap remains between total deposits and gross loans, with loans exceeding deposits. This gap is primarily financed by retained earnings and institutional reserves, with a relatively small proportion funded through external borrowing,’ said Sasra.

Part of the reason saccos’ loan book beats the deposit base is the use of the multiplier model in lending, where many sacco members are allowed to borrow up to three times their deposits using their fellow members as guarantors.

The regulator has asked saccos to develop suitable financial products and services to reactivate dormant members and conduct surveys to establish the reasons for their inactivity.

Across the sector, the gross loans-to-deposits ratio rose to 101.36 percent last year from 100.65 percent a year earlier. The ratio means gross lending was higher than members’ deposits and savings, with the difference being supported by other sources of internal funding.

However, Sasra said the faster growth in loans did not, on its own, signal weakening liquidity because deposits were increasing and new lending was being supported by repayments from existing borrowers.

‘Regulated saccos are, however, challenged to devise strategies to spur the growth in deposits to cope up with the surging demand for loans,’ the regulator said.

The 1.90 million dormant members provide a sizeable pool that saccos could seek to bring back into active participation.

Sasra said the saccos disbursed loans amounting to Sh596.54 billion towards eight key sectors of the economy.

Land and housing remained the largest beneficiary, receiving Sh157.2 billion, followed by education and agriculture (Sh124.51 billion and Sh110.74 billion, respectively). The human health sector received the least funding in loans disbursed during the year, amounting to Sh14.65 billion.

Saccos posted improved loan repayment among members, cutting the non-performing loans ratio for DT saccos to 6.36 percent from 8.56 percent, while that of NWDT saccos improved to 6.44 percent from 7.07 percent.

The regulator attributed this to stricter loan appraisal and approval processes, enhanced loan recovery efforts and improved loan repayment performance among members.

The asset base of the Sasra-regulated saccos grew to Sh1.21 trillion from Sh1.08 trillion, largely driven by DT saccos whose assets hit the trillion mark of Sh1.07 trillion during the review period.

NFA banks on PO system to improve operations

The National Food Authority (NFA) is implementing a new scheme that aims to provide registered farmers with assured market access and enhance the food agency’s palay procurement operations.

NFA Administrator Larry Lacson said the agency launched for the first time a purchase order (PO) system, a procurement arrangement between the grains agency and farmers.

‘We started this season the purchase order system, wherein the NFA can already issue a PO to farmers while they’re still planting. They just have to wait for the harvest and then bring it to the (warehouses),’ Lacson told reporters.

He added that the respective POs issued by the grains agency include the date and the estimated volume of unmilled rice the farmers will deliver to the NFA.

Eligible farmers include those listed in the registry system for basic sectors in agriculture (RSBSA).

Under the rules, farmers who submit and comply with PO requirements will be prioritized in scheduling and procurement arrangements.

Despite this, Lacson noted that the mechanism would not replace its existing procurement procedures; rather, it seeks to improve the agency’s current practices and tackle operational challenges.

‘That’s on top of our regular procurement, which is on a first-come, first-served basis. We also have a fast lane wherein small farmers with 70 bags and below have their own line for faster processing.’

The NFA said the PO system’s implementation would address ‘persistent’ operational and market-related concerns that tend to beset farmers.

This includes long delivery queues and congestion in warehouses; uncertainty in procurement schedules and acceptance capacity; price manipulation and dependence on private traders.

Also included in the bottlenecks that the grains agency aims to address are delays in payment processing due to incomplete or unprogrammed deliveries; and limited coordination between farmers and NFA procurement units.

Through the system, the grains agency said accountability and traceability in procurement transactions would be strengthened. This also ensures that palay purchased by the NFA complies with stipulated quality standards, it added.

‘This is the first time that we implemented the PO system, because then at least, we’ve already programmed the entry of palay since we know the date of delivery and volume. This would help in properly managing the incoming unmilled rice,’ Lacson said.

Marcos greets longtime family lensman Tata Willy on 89th birthday

President Marcos on Sunday greeted Wilfredo ‘Tata Willy’ Avila, a longtime photographer of the Marcos family who celebrated his 89th birthday.

In his latest vlog on Sunday, Marcos made a special mention of Avila, describing him as a family member who had been with them through decades of political highs and lows.

The President said Avila was also a September birthday celebrant, along with him (Sept. 13), his sister Irene (Sept. 16) and their father, the late President Ferdinand Marcos Sr. (Sept. 11).

President Marcos’ birthday wish for him: ‘Another 100 years to live, Tata Willy.’

Avila had been featured in Marcos’ previous vlog episodes, including in 2021, when Marcos visited him in his home in San Pedro, Laguna, in the middle of the COVID-19 pandemic after he got vaccinated.

Avila served as Marcos father’s photographer and later became the chief presidential photographer of the first family when Marcos became the president.

‘He is always with us wherever we go. He has been there through everything our Marcos family has gone through,’ Marcos said.

According to the president, Avila remained with the Marcos family even after his father’s presidency ended and the family left Malacañang.

‘When I returned to the Palace, there he was again. So, through everything we have gone through, Tata Willie has always been there,’ Marcos said.

’National Children’s Day Week’ from 25 September to 1 October

The Cabinet of Ministers has approved the implementation of special programs declaring a ‘National Children’s Day Week 2026,’ to be observed from 25 September to 1 October, in the lead-up to Sri Lanka’s national Children’s Day commemoration on 1 October.

The country marks Children’s Day annually with the objective of strengthening social attention toward protecting children’s rights, education, health, and wellbeing.

Addressing the weekly post-Cabinet meeting media briefing, Cabinet Spokesman and Minister Dr. Nalinda Jayatissa last week said it has been observed that the challenges facing children today have broadened well beyond traditional child protection concerns, now encompassing risks, psychological and social stress, negligence, and various social and economic vulnerabilities linked to internet use and digital technology.

Recognising this shift, he said authorities identified a need to build awareness not only around children’s rights, but also around the responsibilities of all parties consistently associated with children, including parents, teachers, public officials, service providers, and the general public.

‘In response, it was proposed to establish a dedicated National Children’s Day Week alongside the national Children’s Day commemoration, aimed at raising public awareness of children’s rights, fostering greater social sensitivity towards children, and encouraging wider community involvement in child protection efforts,’ he added.

The proposal to this effect was submitted by Women and Child Affairs Minister Saroja Savithri Paulraj.

Huawei pioneers new computing architecture for AI era

Huawei recently announced the Peerium Computing Architecture, a new computing architecture for the AI era. The architecture enables processors at the million scale to work as one computer, meeting the ever-growing demand for AI compute.

The Peerium Computing Architecture achieves strong scaling to the million-processor level through nested parallelism, unified memory addressing, and peer interconnect. It breaks through the Turing paradigm with the introduction of Nested BSP (Nested Bulk Synchronous Parallel), extends the von Neumann single-machine architecture, and overturns the master-slave architecture that has prevailed for decades, so that a million processors truly become one larger computer.

UnifiedBus (UB) is the key interconnect technology that makes the Peerium Computing Architecture possible. Built on a single open protocol, UB is a high-speed bus that scales without limit to connect CPUs, NPUs, memory, SSDs, network interface cards (NICs), and switches. With UB, peer interconnect is achieved across compute, storage, and networking.

The Atlas 950 SuperPoD and SuperPoD-based SuperClusters are the first-generation product built on the Peerium Computing Architecture. An Atlas 950 SuperCluster with 256,000 cards is already being deployed, and the Atlas 960 system based on near-packaged optics (NPO) is currently under testing.

Huawei’s Rotating Chairman Eric Xu said: ‘In the AI era, Huawei is drawing on the Peerium Computing Architecture we pioneered to continuously build the SuperPoDs and SuperPod-based SuperClusters that meet customer needs for training and inference, making computing power available everywhere and intelligence accessible to all.’

Sri Lanka among world’s 10 fastest-improving tourism economies: WEF

Sri Lanka has been ranked among the world’s 10 fastest-improving economies for travel and tourism development, according to the World Economic Forum’s (WEF) Travel and Tourism Development Index (TTDI) 2026, released last week in collaboration with Zurich Insurance Group.

The country placed 10th on the Index’s list of fastest improvers, recording a 4.3% gain in its TTDI score between 2024 and 2026, placing it alongside Albania, Vietnam, Laos, Qatar, Malaysia, Thailand, the Philippines, Morocco, and Nepal as the 10 economies posting the largest score improvements globally over the two-year period.

Albania topped the fastest-improvers list with a 7% score gain, followed by Vietnam (+6.3%), Laos (+6.1%), Qatar (+6%), Malaysia (+5.8%), Thailand (+5.6%), the Philippines and Morocco (+5.5% each), and Nepal (+5.1%), with Sri Lanka rounding out the top 10 at +4.3%.

The recognition comes as the TTDI’s broader findings point to a tourism sector in unusually strong health. International tourist arrivals reached a record 1.5 billion globally in 2025, with the sector contributing an all-time high of $ 11.6 trillion to global GDP, more than double its 2019 contribution and supporting 366 million jobs worldwide, or roughly one in every 10 jobs on the planet.

Of the 110 economies ranked in this year’s index, 92% improved their score compared with 2024, with the average score rising 2.1%, the fastest pace of improvement recorded since 2019.

Sri Lanka’s inclusion reflects a broader regional trend, as seven of the 10 fastest-improving economies in this year’s TTDI are from the Asia-Pacific region, which posted overall growth of 3.6%, alongside the Middle East and North Africa at 2.5%, both comfortably outpacing the global average.

The report notes that the largest emerging tourism economies have improved their scores more than twice as fast as the top 20 ranked countries since 2019, benefitting from competitive pricing, rich natural assets, and increasingly sustainable demand patterns.

While Sri Lanka features among the fastest risers, the top of the overall index remains dominated by established destinations. Japan claimed the number one position this year, overtaking the US, driven by a record 42.7 million international visitors in 2025 and a deliberate strategy to diversify visitor flows beyond its major hubs. The US, Spain, Australia, and France rounded out the top five, with European nations continuing to dominate the upper rankings overall.

What’s driving the improvement

Across the Index’s 17 measurement pillars, the strongest global gains came in cultural resources, tourism infrastructure and services, and air connectivity. Cultural resource scores rose 9.6% worldwide, partly attributed to an expanding UNESCO World Heritage List, up from 869 sites in 2019 to 972 in 2026 alongside growing recognition of intangible cultural heritage such as festivals, craftsmanship, and food culture.

For Sri Lanka specifically, a 4.3% score improvement over two years places the country’s tourism development trajectory ahead of the vast majority of the 110 economies assessed, reinforcing a recovery narrative that has also seen the island post record visitor arrivals of 2.36 million in 2025 and tourism earnings of around $ 3.2 billion, following a sustained post-pandemic and post-economic crisis rebound.

The TTDI report cautions, however, that rising visitor numbers alone are not the measure of success going forward. It notes that travel became less affordable in three of every four economies between 2024 and 2026, and that the sector’s key challenge is shifting from generating demand to managing growth responsibly with the destinations best positioned to succeed being those that combine expansion with careful stewardship of infrastructure, communities, and natural assets.