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MANAMA, Bahrain-The United Arab Emirates’ presidential adviser said Sunday that his country hopes a diplomatic breakthrough in Qatar-led mediations is possible to avert a new round of confrontation between the US and Iran.

The Iran war, which began on Feb. 28 with joint strikes by the US and Israel followed by attacks by Iran on the Gulf nations, has made it ‘a watershed year’ for the region and the world, UAE presidential adviser Anwar Gargash said at a security forum in Bahrain.

‘We don’t really want to see another round of confrontation in the region,’ Gargash told the audience at the Manama Dialogue, an annual security summit in Bahrain organized by the International Institute for Strategic Studies, or IISS, that brings together regional and international state, defense and foreign-affairs officials and experts.

Iranian negotiators are in Qatar for talks on a proposal that could reopen the Strait of Hormuz soon, according to Iranian Foreign Minister Abbas Araghchi. He said that no direct talks are being held with the US and that the final outcome depends on answers provided by the United States to the ‘Iranian questions.’

In an interview shared on his Telegram channel, Araghchi said Iran hoped that the US would choose ‘diplomacy over other paths.’ He said Iran was ready for both defense and diplomacy, depending on Washington’s ‘rationality.’

Escalation fear casts shadow over forum

A possible escalation cast a long shadow over the three-day security forum in Bahrain’s capital, Manama.

Gargash, the UAE adviser, said that the current crisis requires ‘a lot of wisdom, with political tools being our main tools, and the understanding that military solutions will only complicate the current very complicated scene that we have and will not actually bring any quick off-ramps.’

Gargash, however, acknowledged that ‘the rules of logic’ show that the US and Iranian stances are far apart.

‘If these positions are not bridged, then we have to worry about the worst,’ Gargash said.

He said it’s not in the interest of the region or Iran to withstand another round of war.

It was a sentiment echoed by other Gulf and Arab officials at the forum.

Egypt’s foreign minister Badr Abdelatty, a day earlier, told the gathering: ‘The second round [of escalation] will be more dangerous, more destructive, and it will lead to nowhere.’

But Gargash added that his country and the region are braced for the possibility of escalation.

Before a ceasefire was reached in April, the UAE faced the largest number of airborne attacks from Iran, with more than 3,000 drone and ballistic missile attacks targeting airports, military and oil facilities, according to IISS. Most of those attacks were intercepted.

Since then, Gulf nations have spent billions of dollars to boost their defense capabilities.

Gargash said that the war has solidified US-UAE relations, making them ‘even more important’ and at the heart of the UAE’s ability to defend itself.

Bahrain welcomes efforts to reduce tensions

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AT the conference, Bahraini Foreign Affairs Minister Abdullatif bin Rashid Al Zayani said that his country also welcomes ‘every effort to reduce tensions, prevent escalation and create opportunities for dialogue.’

Al Zayani said that Iran has shown what he called a pattern of attacks or threat of attacks threatening the region’s and the world’s stability and prosperity by targeting sea, air and data facilities.

He said Iran has continued to do so even after a ceasefire was reached and as recently as last month, threatening underwater data cables. He described the attacks by Iran-backed Houthi rebels on neighboring Saudi Arabia as part of the pattern.

‘These attacks are part of one continued pattern,’ he said. ‘The hands may change, the approach doesn’t.’

Iran fired 500 drones and nearly 200 ballistic missiles toward Bahrain, home to the US Navy’s 5th Fleet, at the height of the war, according to IISS. The attacks hit the naval base, residential buildings, the financial district and a water desalination plant.

This summer, Houthi rebels have escalated their attacks on Saudi oil infrastructure and airports, saying they were a response to Saudi airstrikes on Sanaa airport. The Houthis have hit critical oil pipelines and disrupted air traffic in the kingdom.

Another issue that prevailed over the forum was the lack of a coordinated defense response among the six-member Gulf Cooperation Council, which includes Saudi Arabia, the UAE, Kuwait, Bahrain, Qatar and Oman.

At the height of the war with Iran, the response from the Gulf countries that bore the brunt of Iranian strikes was at the national level, each working with US command and control centers in the region. That, according to IISS, at times hindered their overall defensive effort.

Gargash offered a rare candid criticism.

‘I have to come and say that we have not collectively risen to the challenge. Nationally, we have. Each state independently has, or sometimes in terms of bilateral cooperation,’ Gargash said. ‘In one of our most critical crises, we collectively have not risen to the challenge.’

NEW Bilibid Prison (NBP) officials on Monday strongly denied reports alleging a two-week water shortage inside the national penitentiary and dismissed claims that prisoners or persons deprived of liberty (PDLs) were being forced to pay for access to clean water.

NBP Superintendent Gary Garcia addressed the allegations, explaining that while the prison’s water pumps are currently non-functional, repairs are actively underway – a situation previously disclosed by Bureau of Corrections (BuCor) Director General Gregorio Pio P. Catapang Jr. during a media briefing.

To offset the reduced supply caused by the ongoing pump maintenance, Garcia emphasized that BuCor has engaged water concessionaire Maynilad to deliver clean water to the facility.

Detailed operational records show that between October 29 and November 1, 2026, Maynilad completed eight separate deliveries of 10 cubic meters each to NBP’s Reception and Diagnostic Center (RDC), amounting to a total volume of 80 cubic meters. In addition, agency fire trucks carried out five supplemental water deliveries-three on October 30 and two on November 1.

The RDC incurred a daily water expense of P14,538.54 during the period, bringing the total cost for the four days of Maynilad deliveries to P58,154.16.

Garcia clarified that all expenses incurred from the emergency water supply are fully subsidized by the government, reassuring the public that no inmate is required to pay for water.

‘I held a dialogue with the PDLs yesterday, and they confirmed that the water supplied by Maynilad and the water delivered by BuCor fire trucks are free of charge because the agency is shouldering the expenses,’ Garcia said.

He denounced the extortion claims as a deliberate ‘demolition job’ designed to tarnish his reputation and sabotage ongoing reforms within the prison system. He suggested that the false reports may be a retaliatory move by certain sectors inside the compound affected by BuCor’s aggressive contraband crackdowns, locally known as ‘Galugad’ operations, inside the RDC.

Garcia assured that BuCor remains committed to restoring the main water pumps promptly while maintaining continuous delivery through Maynilad and agency fire trucks to safeguard the health and well-being of the inmates. He vowed to press ahead with internal cleansing efforts inside the country’s main penitentiary despite pushback and smear campaigns.

Binance, the world’s biggest cryptocurrency exchange, said Friday that hackers stole more than $6 billion in what appears to be the largest cryptocurrency heist on record. Blockchain firms have pointed to the attack coming from a North Korean hacking unit.

The company said it has reserved more than $6.34 billion of company funds to cover the stolen assets and was beginning to recover assets for users. Binance worked with blockchain partners to freeze roughly $3 billion in affected assets.

The cryptocurrency exchange has promised to cover all losses, and it has been sharing regular updates on its social media channels as it uncovers more information about the hack.

‘We are working nonstop to resolve this,’ Binance’s co-CEO Richard Teng said Friday in a video posted to X.

In an exchange Friday with reporters at the White House, President Donald Trump said US officials were investigating the Binance hack. Asked whether North Korea was involved, Trump said: ‘We’re looking at that.’

Here’s what we know about the hack, possible North Korean involvement and Binance’s investigation.

North Korean hackers are suspected in the attack

Binance said on X that an initial investigation suggested the incident may have involved a compromised laptop, but that a subsequent investigation uncovered additional ‘points of breach.’

US-based blockchain intelligence firm TRM, in a post on its website late Thursday, attributed the attack to TraderTraitor, which it described as North Korea’s elite hacking unit. ‘We make this judgment with high confidence,’ the firm said.

‘An attacker moved approximately USD 6.36 billion out of Binance wallets on ten blockchains, most of it in about 20 minutes,’ TRM said. ‘Several features of this attack match earlier North Korea-linked heists.’

Blockchain analysis company Chainalysis also believed the Binance hack was likely carried out by TraderTraitor, its co-founder and CEO Jonathan Levin wrote on X.

Asked about the potential ties to North Korea, a Binance spokesperson said only that the company is ‘working closely with our law enforcement partners to confirm the identity of the criminals and bring them to justice.’

Experts have said that North Korea turned to crypto hacking and other illicit cyber activities in recent years as a source of badly needed foreign currency to support its troubled economy and fund its nuclear program in the wake of tough UN sanctions and other difficulties.

In December 2022, South Korea’s spy agency said North Korean hackers had stolen an estimated 1.5 trillion won ($1.1 billion) in cryptocurrency and other virtual assets over the past five years, more than half of it in 2022 alone. It said North Korea’s capacity to steal digital assets was considered among the world’s best.

Many are calling this the biggest crypto theft on record

While about half of the stolen assets were frozen, there is evidence that the hackers already are transferring and converting some of what wasn’t recovered, said Garrick Hileman, an independent cryptocurrency analyst.

‘Like in money laundering, you bring in the stolen goods and launder those through a mixer or tumbler,’ he said. ‘You mix it in with other cryptos, and it’s harder to track.’

How long it will take the hackers to turn that into something usable isn’t clear, he said. ‘The bottom line is there are places in the world where you can take your bitcoin and get that converted,’ Hileman said.

TRM and several other crypto firms and experts have said the hack represents the largest cryptocurrency theft on record.

In February of last year, another cryptocurrency exchange, Bybit, suffered a $1.5 billion hit when it was hacked. The FBI said North Korea and TraderTraitor were responsible for the hack. TRM listed the Bybit hack when it referenced similarities between the Binance hack and previous attacks linked to TraderTraitor.

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Binance’s founder, Changpeng Zhao, wrote on X that while Binance’s hack might be the largest in terms of its dollar value, previous attacks on other companies like the crypto exchange Mt. Gox have had a more substantial impact in terms of the bitcoin amount affected, he said.

Experts warn this scale of hacking could become more commonplace.

‘A cyber attack of this level is a matter of when, not if, particularly alongside the rise of AI,’ said Andy Ward, a senior vice president at Absolute Security. ‘Cyber threats are becoming more sophisticated and widespread as ever, and it is likely only a matter of time before an even larger hack, with even greater financial fallout, makes headlines.’

Where experts-and Binance-say things went wrong

The hack has raised questions about why stronger approval controls were not in place, said Kok Tin Gan, co-founder and CEO of cybersecurity firm NyxLab.

‘This looks like one signature that gave the attacker a never-expiring, full-access token to a Binance hot wallet,’ he said, referring to cryptocurrency wallets that hold users’ ‘private keys,’ or unique authorizations, digitally and that are connected to the internet.

Teng, Binance’s co-CEO, confirmed in a nearly five-minute video posted on X Friday that Binance’s own hot wallet was affected. ‘User assets are held under Binance’s established security architecture,’ he said. ‘The vast majority sits in cold wallets’-which are offline and used for secure storage-‘and are only moved into a hot wallet when a user makes withdrawal.’

Teng said Binance’s tech and security teams are ‘still deep’ in investigating the hack. He said it was not carried out by one person and that the attackers used complex tactics, including a ‘self-destruct mechanism’ that is making the incident more difficult to investigate.

‘We are working with law enforcement, blockchain intelligence firms, token issuers and other exchanges to trace and recover stolen funds,’ Teng said. ‘We will do everything within our power to make sure that these bad actors will be held accountable.’

Binance has said deposits were unaffected, while withdrawals have been suspended and are expected to resume in the next day or two.

Nearly nine in 10 mobile broadband tests conducted by the National Telecommunications Commission (NTC) at Metro Manila’s major bus terminals posted download speeds of at least 50 megabits per second (Mbps), but Smart Communications Inc. failed to meet the regulator’s standard for dropped calls.

Of the 128 test campaigns the NTC completed, 114, or nearly 90 percent, recorded download speeds of at least 50 Mbps, the regulator said.

‘Reliable mobile connectivity is essential in transport terminals, particularly during periods when large numbers of Filipinos travel to reunite with their families,’ NTC Deputy Commissioner Andy Castelar said.

Smart, however, registered a call drop ratio of 5.26 percent, well above the prescribed standard of less than 2 percent.

Dito Telecommunity Corp. (Dito) and Globe Telecom Inc. both recorded an average call drop ratio of zero percent, meeting the standard.

On speed, Dito posted the highest recorded download speed at 851 Mbps at the Parañaque Integrated Terminal Exchange (PITX). Smart followed with 456 Mbps, also at PITX.

Globe’s fastest recorded speed was 330 Mbps, logged at the Raymond Transportation terminal in Quezon City.

All three mobile network operators (MNOs) achieved an average short message service (SMS) success ratio of 100 percent, surpassing the prescribed standard of more than 99 percent.

‘The Commission commends our MNOs’ readiness to heed the public’s reliance on mobile telecommunications services to communicate with their families, coordinate their trips and access essential information throughout their journey this Undas 2026,’ Castelar noted.

The NTC called on all MNOs to take note of the results and give their utmost attention to improving the service.

The regulator said it will continue its monitoring and validation activities nationwide and will pursue appropriate regulatory action, as may be warranted, to keep telecommunications services reliable and responsive to the public.

The tests covered 12 terminals: Victory Liner Cubao, Superlines Cubao, Baliwag Transit Cubao, Five Star Bus Cubao, HM Transport Inc., Raymond Transportation, Bicol Isarog, Florida Bus Terminal Cubao, Araneta Bus Terminal, PITX, and the Victory Liner and Florida Bus terminals in Sampaloc, Manila.

CLARK FIELD, Pampanga-Long celebrated as the undisputed Culinary Capital of the Philippines, Pampanga has officially cemented its place on the global gastronomic map.

Four of the province’s beloved dining spots have earned coveted honors in the inaugural Michelin Guide Philippines, proving that local flavors can capture the hearts-and palates-of international food critics.

During a glittering ceremony in Manila late last week, the Michelin Guide unveiled its 2027 selection, featuring 127 standout establishments across Metro Manila, Cavite, Pampanga, and Cebu. Among them, Pampanga’s dining institutions shone brightly.

Good food, great value

LEADING the local contingent are Apag Marangle in Guagua and Tito Boy in the Clark Freeport Zone, both awarded the prestigious Bib Gourmand distinction-an honor reserved for restaurants serving high-quality cuisine at exceptional value.

For Apag Marangle, known for its immersive farm-to-table Capampangan dining experience, and Tito Boy, celebrated for its modern, flavorful take on local comfort food, the award highlights a shared commitment: delivering soul-satisfying meals without compromising on accessibility.

Adding to the celebration, Tito Boy’s service team took center stage as Clyde Joshua Zafra received the Michelin Guide Service Award, recognizing outstanding hospitality and dedication to the guest experience.

Celebrating local heritage

ROUNDING out Pampanga’s honorees are Souq in the City of San Fernando and the legendary Mila’s Tokwa’t Baboy in Angeles City, both officially named as Michelin Selected establishments.

The recognition for Mila’s-famous for pioneering the iconic sizzling sisig and crispy tokwa’t baboy-underscores how humble, time-tested heritage cooking stands shoulder-to-shoulder with modern culinary concepts like Souq’s artfully curated comfort dishes.

Milestone

THE nationwide guide marks a monumental moment for Philippine dining, featuring one two-star restaurant (Helm), nine single-star establishments (including Toyo Eatery, Gallery by Chele, and Asador Alfonso), 31 Bib Gourmand spots, and 86 Michelin Selected venues. Special honors were also bestowed on Francis Lacson of Digámo (Young Chef Award) and Rob Job Sanchez (Exceptional Cocktail Award).

First published in France in 1900, the Michelin Guide relies on anonymous inspectors to assess dining establishments worldwide. While Michelin Stars represent peak culinary precision, the Bib Gourmand and Selected categories celebrate authenticity, consistency, and passion.

For Pampanga, this international recognition is more than a list of awards-it is a testament to generations of culinary craft, drawing global food enthusiasts to experience the rich flavors of the province.

EXPLAINING monetary policy decisions is as powerful as adjusting the policy rate at a time when uncertainty is ‘so high,’ according to BSP Governor Eli M. Remolona Jr.

In his speech at the ‘SEACEN Masterclass: Central Bank Communication,’ Remolona emphasized that ‘communicating monetary policy matters, especially today when uncertainty is so high.’

With global supply shocks, fragmentation, and other noises, people look to central banks for guidance, he explained.

‘We, central bankers, like to think that our most powerful tool is the policy rate. I believe explaining our decisions can be equally powerful,’ added the BSP governor.

While the policy rate moves money, he said the narrative behind it and where it might go ‘also shapes behavior.’

And that behavior, he said, ‘is often what we are after.’

Remolona emphasized that monetary policy ‘works best when our message is not just heard but understood.’

To illustrate the importance of forward guidance, former BSP Deputy Governor Diwa C. Guinigundo said in an earlier commentary that ‘central banking is [not only] about the current policy rate, but …also about shaping expectations of where policy is going.’

Guinigundo said if households, businesses and markets begin to believe that the central is becoming more concerned about weak growth than inflation remaining ‘substantially above target,’ expectations can become ‘less firmly anchored.’

Right signal

GUINIGUNDO released this commentary a few days after the Monetary Board (MB), the highest policy-making body of the BSP, decided to raise its policy rate by another 25 basis points on August 27.

While this was the ‘right decision,’ Guinigundo said the more important question is whether it was enough and, more importantly, whether the BSP’s message was ‘strong enough to convince markets that it remains firmly committed to bringing inflation back to target.’

When the commentary was issued in late-August, the former BSP deputy governor said the MB meeting on October 22 ‘will therefore be an important test.’

‘By then, the BSP will have more information on inflation, the peso, global oil prices, domestic demand and inflation expectations,’ Guinigundo said.

If inflation remains elevated and the real policy rate remains negative, he said simply holding the nominal rate unchanged could be interpreted by markets as a ‘further easing of the real monetary stance.’

That would be the wrong signal, Guinigundo said in August.

Fast forward to October 22, the MB delivered a larger-than-expected 50-bps hike in the key policy rate, bringing the BSP’s target reverse repurchase rate (RRP) to 5.50 percent.

Resisting temptation

THE MB based its decision after noting that the coming months could see a further acceleration of inflation, with the average headline inflation forecast for 2027, hence, revised upward to 6 percent from 5.4 percent.

‘The [MB] recognized the need for a strong monetary policy response to broadening price pressures and further upside risks to inflation,’ the BSP said in its statement on October 22.

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Such a ‘decisive response,’ the central bank emphasized, will make monetary policy ‘appropriately restrictive.’

‘This will contain second-round effects and firmly anchor inflation expectations,’ BSP noted.

The central bank said it stands ready to take further monetary policy action ‘as necessary’ to ensure the timely return of inflation to the target, in keeping with its price stability mandate.

In his August commentary, Guinigundo said the BSP should ‘resist the temptation to declare the tightening cycle effectively finished simply because growth is weak.’

‘This is not an argument for indiscriminate tightening or for ignoring growth. It is an argument for recognizing the hierarchy of responsibilities,’ added Guinigundo.

The former central bank deputy governor emphasized that the BSP’s primary mandate is price stability, adding: ‘Other authorities must deal with the structural and supply side impediments to growth.Asking monetary policy to compensate for weaknesses elsewhere risks creating the worst of both worlds: weak growth and persistent inflation.’

THE Senate majority bloc has united behind efforts to strip questionable and corruption-prone allocations from the proposed 2027 national budget, aiming to restore full transparency to the legislative appropriations process, Sen. Panfilo Lacson said on Sunday.

‘The majority of senators are rallying behind Senate Finance Committee Chairman JV [Joseph Victor] Ejercito’s efforts to cleanse the 2027 budget of unwarranted, whimsical, and corruption-prone items. -ALL MEANS ALL!’ Lacson said in a statement.

The commitment comes amid heightened scrutiny of the House-transmitted version of the General Appropriations bill (GAB). Ejercito previously raised alarm over the reported realignment of approximately P206 billion within the proposed P7.2-trillion national budget by the House of Representatives.

Among the significant reductions flagged by Ejercito were cuts to critical government operations, including flood mitigation initiatives, calamity funds, foreign-assisted projects, right-of-way acquisitions, health promotion, child immunization, and local health facility programs.

A key focal point of the Senate’s review is the sudden surge in infrastructure allocations. Senate findings revealed that the number of Department of Public Works and Highways (DPWH) projects expanded dramatically from 11,420 items under the executive branch’s original National Expenditure Program (NEP) to 16,244 items in the House-approved GAB.

Lacson pointed out that 6,271 of these new DPWH projects were inserted directly by lawmakers without undergoing initial vetting or technical evaluation by the Executive branch.

To address these unvetted additions, Ejercito secured a commitment from the DPWH to drop all infrastructure projects lacking complete documentation from the House-approved GAB before plenary debates commence, should the agency fail to submit the required paperwork by November 3.

In addition, Lacson affirmed that the Senate will systematically review every increase inserted into the DPWH allocation. This includes examining high-profile line items such as the budget for the First District of Ilocos Norte – represented by the President’s son Rep. Ferdinand Alexander Marcos – which recorded the single largest net increase among congressional districts.

Congress is set to resume plenary sessions on November 9, with Ejercito anticipating that formal floor debates on the 2027 budget bill will start on November 23 as senators work to finalize a clean fiscal plan before the end of the year.

The National Food Authority (NFA) said using 1-metric ton (MT) bags for its palay purchases slashed handling time and costs, providing additional procurement funds.

NFA Administrator Larry Lacson said a pilot test on the toner bag system at their warehouse in Davao del Sur showed a 75-percent reduction in handling time and a 50 percent cut in handling costs.

‘Work that used to take an hour can now be completed in just 15 minutes, while handling costs are halved. Using tonner bags also allows us to make better use of warehouse space,’ he added.

For Agriculture Secretary Francisco Tiu Laurel Jr., who chairs the NFA Council, the potential savings could benefit farmers by allowing the grains agency to stretch its procurement budget and buy more palay from them.

‘For our rice farmers, this means we can potentially procure more palay with the same resources. If we can lower handling costs and use our warehouses more efficiently, more of the NFA’s resources can go toward buying palay at a fair market price from our farmers.’

Launched in October 2025, the pilot uses tonner bags in three NFA branches in Nueva Ecija, Occidental Mindoro, and Davao del Sur.

The Davao del Sur trial covers receiving, weighing, handling, and stacking, but excludes milling and distribution, it added.

Each bag is made of woven polypropylene designed to resist moisture and dust. Reinforced lifting loops allow forklifts to move the bags, reducing manual lifting, sack sewing, and stacking, according to the NFA.

‘This is part of our efforts to ensure that our stocks are food-safe and to make NFA operations more efficient and modern,’ Lacson said.

He added that the agency aims to set warehousing standards that the private sector can emulate.

The pilot also found that moisture levels remained within safe limits and spillage was minimal during the observation period. Pest infestation ranged from light to moderate and remained manageable.

The trial, however, identified operational gaps that should be addressed before wider adoption.

These include standardizing fumigation procedures for bulk stacks, testing bag compression and structural strength to establish safe stacking limits, and developing pest-control protocols suited to bulk storage.

The NFA said it would continue monitoring the system and refining its procedures before considering broader implementation.