Category: Business Mirror

On April 8, 2026, Iran and the United States signed a two-week ceasefire that required Tehran to guarantee safe passage through the Strait of Hormuz. The ink was barely dry before Iran began charging for that passage anyway, one US dollar per barrel, payable in bitcoin within seconds of assessment. The toll violated the ceasefire’s own terms, and Trump denounced it within a day.

The dispute resurfaced in a June 17 truce, its toll language vague enough that Iran read it as preserving the right to charge fees later. Trump pre-empted that reading, declaring there would be ‘NO TOLLS in the Hormuz Strait for 60 days during the Cease Fire Period, and there will be NO TOLLS after the 60 day period has expired, unless they are imposed by and for the United States of America.’ Iran struck a ship in the strait within the week, and by early July the two sides were exchanging fire again.

The precedent for the Hormuz closure worth remembering is the Suez. When President Gamal Nasser nationalized the canal in 1956, and Egypt closed it again in 1967, the shipping industry did not wait for Cairo to sort out its politics. It built bigger ships. The supertanker, designed to round the Cape of Good Hope rather than pay Egypt’s toll, became the industry standard within a decade. Suez reopened in 1975, but it never fully recovered its former leverage, because the world had spent nine years building an alternative to needing it.

Iran is watching that history repeat on a Gulf-wide scale. Saudi Arabia’s East-West pipeline, the Petroline, moves crude 745 miles to the Red Sea port of Yanbu at up to 7 million barrels a day with Riyadh weighing an expansion of 1 million to 2 million barrels a day more. The UAE’s Habshan-Fujairah pipeline bypassing the Strait itself is being fast-tracked to double its capacity to 3.6 million barrels a day by mid-2027, an acceleration ordered personally by Abu Dhabi’s crown prince.

Iraq is running two projects that converge on the same patch of desert. The Kirkuk-Baniyas line, a 500-mile route to Syria’s Mediterranean coast being revived by a Chevron-led consortium, was built in 1952 around the K-3 pumping/hub station in Haditha, shut during the Iran-Iraq war, and killed off by the 2003 invasion. The new Basra-Haditha pipeline runs to that same K-3 junction. It stretches 685 kilometers, cost US$4.6 billion to build, and carries a capacity of 2.25 million barrels a day, financed through an oil-for-infrastructure deal with China.

Both Iraqi lines fall inside seven Gulf pipeline schemes Goldman Sachs counted, estimated to carry 14 million barrels a day by 2028, against a pre-war Hormuz total of non-Iranian oil of roughly 18 to 18.5 million barrels a day. In chess, the pipeline build up would be a move that creates a situation called ‘check.’

However, none of this makes Hormuz irrelevant. Rystad Energy has called the buildout a hedge rather than a replacement. Fujairah’s port took Iranian drone fire even as Abu Dhabi announced its expansion, and a pipeline terminus is no harder to find than a tanker in open water. But that misses what Iran actually lost.

A chokepoint’s value lies in the credibility of the threat to close it, and in the absence of alternatives. Iran spent the first in a ceasefire-era toll grab Washington overruled within a day. It is watching the second condition evaporate at roughly two and a half years a project, across three Gulf states at once.

The Philippines has no strait to weaponize and no pipeline to build, but it carries a smaller version of Iraq’s exposure. The country sources roughly 98 percent of its crude from the Middle East, and every disruption in the Gulf moves directly into diesel prices and the inflation basket the Bangko Sentral ng Pilipinas (BSP) has spent two years trying to tame. Manila did not create this dependency.

It has, however, done remarkably little to mitigate against it. LNG terminal capacity has stalled for years on permitting delays and grid bottlenecks. Total dependence on imported fuel is the argument for building the best infrastructure on the planet, not an excuse for thin infrastructure.

Riyadh, Abu Dhabi, and Baghdad looked at their exposure and started pouring concrete. Manila has mostly waited for the next BSP meeting.

Chokepoints do not forgive procrastination. They only wait to see who blinks first, and this year, everyone with the capital to do something about it blinked at once, everyone except the country that still imports nearly all its fuel and calls the resulting inflation an external shock.

E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.

Taxes, including penalties, that are erroneously or illegally received can be refunded by the Bureau of Internal Revenue (BIR). These include (a) national internal revenue taxes erroneously or illegally assessed or collected, (b) penalties collected without authority, (c) amounts which have been excessively or in any manner wrongfully collected without authority, and (d) sums alleged to have been excessively or in any manner wrongfully collected.

Recovery is allowed only if the taxes and penalties are erroneously or illegally collected by the tax authority. An ‘erroneous or illegal tax’ is defined as one levied without statutory authority, or upon property not subject to taxation or by some officer having no authority to levy the tax, or one which, in some other similar respect, is illegal (GR 188497, April 25, 2012). For a claim for refund to prosper, there must be wrongful payment of an amount that is not due (GR 187485, February 12, 2013).

The tax court had the occasion to expound on this further in a recent case (CTA Case No. 11028, June 23, 2026). The case involves an application for refund of excise taxes paid on tobacco products. The Court of Tax Appeals (CTA) dismissed the claim, holding that the excise taxes were not erroneously or illegally paid and collected. So, the taxes cannot be refunded by the BIR.

In the case, the products of the taxpayer were damaged by a typhoon after the taxes had been paid and affixed on the excisable articles. The damage rendered the goods unfit for sale or consumption. So, the taxpayer sought to recover the taxes paid on the products. The taxpayer’s claim for refund is premised on the argument that excise taxes are imposed on goods that are to be sold, consumed or disposed of domestically. Following this, the taxpayer believes that the local sale component for the imposition of excise tax was not satisfied when the products can no longer be delivered and sold after they had been destroyed by the typhoon.

The CTA disagreed and ruled that sale is not a pre-condition in the imposition of excise tax. The tax court explained that excise taxes are due and paid before the removal of the goods from the place of production. The excise taxes are payable, even though the articles are removed merely for storage in some other place. In other words, excise taxes are not imposed on the basis of sale, and they are due to be paid even if the products are not actually sold or consumed.

The law also provides that, upon payment of the taxes, the ownership of the products is transferred in favor of the taxpayer. Any damage to or loss of the goods after release or removal from the place of production is the responsibility of the local manufacturer. The taxpayer shoulders and accounts for the loss.

Besides, the BIR can also refund only the value of internal revenue stamps when they are returned in good condition, or redeem or change unused stamps that have been rendered unfit for use.

Here, not only did the taxpayer use and affix the internal revenue stamps. More importantly, the taxpayer had rightfully paid the said taxes. Otherwise, it could not have removed or released the subject articles from the place of production for subsequent sale and consumption. In short, there was no erroneous or illegal payment of tax. Therefore, no taxes can be refunded. The taxpayer bears the value of the loss on the articles damaged by the typhoon.

The author is a partner of Du-Baladad and Associates Law Offices (BDB Law) (www.bdblaw.com.ph).

The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal, or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported, therefore, by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at mabel.buted@bdblaw.com.ph or call 8403-2001 local 160.

THE number of confirmed deaths caused by rain-induced landslides and floods in Luzon has reached 23, with three other persons reported missing, the National Disaster Risk Reduction and Management Council (NDRRMC) reported on Sunday.

Latest data on the combined effects of tropical cyclones Luis, Maymay and the southwest monsoon as of 6 a.m. on Sunday revealed that 15 of those killed were from Benguet province, including 10 from Baguio City, which was also severely affected by flash floods. Two of the fatalities are from La Trinidad, and three from Atok-all because of landslides.

The other fatalities are one each from Luna, La Union, and Candelaria, Quezon, due to drowning; and three each in Rizal and Batangas due to various reasons.

NDRRMC said 17 persons were injured while 3 others are still the subject of search and rescue operations.

The number of affected families also increased to 1.4 million, or close to 5 million people, with reports from various local DRRMCs continuing to come in.

The government continues to provide shelter to affected families, with the number now growing to 9,101, or 31,456 persons.

According to the NDRRMC, they are currently being provided care in a total of 407 evacuation centers.

Meanwhile, the NDRRMC said flooding, flash floods, and landslides damaged a total of 1,845 houses, with damage to public and private infrastructure now reaching P3.36 billion and damage to agriculture estimated at P690 million.

The government continues to assist the affected families, with estimated cost of assistance now reaching slightly over P654 million.

While weather generally improved in many areas, monsoon rain is expected to affect several Luzon provinces in the next foue to five days.

These include Ilocos Sur, La Union, Pangasinan, Benguet, Zambales, Bataan, Occidental Mindoro, Zambales, Bataan, Tarlac, Pampanga, Cavite, Batangas and Antique, in the Visayas.

In its weather advisory issued at 11 a.m. on Sunday, the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) said localized flooding is possible in highly urbanized areas, low-lying areas, or areas that are near rivers. Landslide, according to the weather bureau, continue to threaten areas experiencing rains, especially those that are considered highly susceptible to landslides.

Grit and agency are not soft skills. They are the difference between a firm that can only perform to the brief it was given, and one that can perform to the brief it should have been given.

Every PR practitioner will tell you the job is about relationships, storytelling, media relations, and brand strategy. All true. But underneath all of it sits a more basic requirement, one rarely named in job descriptions: the willingness to do unglamorous, unwitnessed work long before it’s needed, and the instinct to act the moment the ground shifts, without waiting for permission. The first is grit. The second is agency. Knowing your craft gets you in the room. These two qualities are what get you through it.

The industry doesn’t test this in theory. It tests it in real time, usually at the worst possible moment, usually without warning.

Nobody tells you when you’ve missed the memo. You just watch everyone else in the room act like they got one.

We’d been invited to what was billed as an exploratory sit-down with the team on a new project. First meeting, low stakes, the kind where people throw around ideas and agree to reconvene once things are further along. So my colleague and I did what any team worth its salt does before walking into a room like that. We read up. Searched around, checked the sentiment, made sure we weren’t walking in cold.

We got to the restaurant. The table was set for 20. That should have been our first clue.

The client arrived, and not long after, the event team pulled out laptops and printed decks and began walking the room through a full concept presentation: layout, entertainment, program flow, all of it. There was nothing exploratory about it. This was a working session dressed up as a courtesy call, and everyone else at that table had come prepared to perform.

We did not have a deck.

Somewhere between the appetizers and the first course, it became clear that a presentation would be expected of us, whether or not we had one ready. There are two kinds of people in that moment. One kind quietly panics, hopes the moment passes, and prepares an apology for later. The other kind excuses themselves from the table, gets on the phone, and starts pulling together whatever can be pulled together: figures, inclusions, past materials that can be reshaped for the client in front of them. Not from nothing. From what the team already knew, already had, already owned. That is agency. Not waiting to be told what to do. Just deciding what needed to happen, and making it happen.

And then it was our turn. Still no deck, and nothing to show. The presentation happened anyway, verbally, over a sizzling plate that kept interrupting at the worst possible moments, walking the room through the media strategy, the realistic timelines, the philosophy behind who gets invited to a launch and why. Not a slide in sight. Just command of the material, delivered with enough conviction that nobody noticed anything was missing.

My colleague then gave a thumbs up from across the table. Laptop already open, ready to go. A silent signal that simply said: It’s done. We have a deck.

What followed was a presentation, screenshots, timelines, levels of engagement, the whole architecture of a campaign, built with such command of the room that it read as something prepared weeks in advance. It was built in less than 60 minutes after the team realized what the meeting actually was.

Nobody at that table walked away doubting the agency’s readiness. If anything, the opposite happened. What could have been an embarrassment became a quiet demonstration of exactly the kind of partner this client was signing up for.

What the room didn’t see: six more people, at home, on their laptops, pulling old decks and numbers together while we sat through dinner. Two of us held the table, but it took a full team to give us something to hold it with.

People use grit and agency interchangeably. They shouldn’t. The deck built at the eleventh hour was not grit. That was agency, decisive action under pressure. The grit was everything that made that possible: months of unremarkable, unwitnessed work, building templates, staying current on client accounts, maintaining materials nobody thought would be needed on a random Tuesday dinner. Grit is invisible until the moment it gets tested. It is the reserve. Agency is the withdrawal.

And I’ll say the quiet part out loud: talent like this is getting harder to find. Not the kind that can quote frameworks in an interview; there’s no shortage of that. I mean the kind that stays calm when the ground shifts, reaches for the phone before anyone tells them to, mobilizes after hours to deliver what is needed, and can be trusted with a presentation on nothing but a thumbs up. You don’t stumble into that. You build it, hire by hire, over years.

Plenty of people in this industry know their craft. They can recite theory, quote case studies, walk you through a textbook campaign structure. But knowing your craft is only half the job. The other half is what you do when the brief changes mid-dinner, when the meeting isn’t the meeting you were told it would be, when there is no time left to ask for one. Some people freeze in that moment. Others reach for the phone, open the laptop, and get to work.

This industry doesn’t always reward the most prepared person in the room. It rewards whoever can still deliver once preparation runs out, the one who treats a curveball as just another task, not a crisis. Clients remember that. They remember the team that delivered composure at the exact moment composure was hardest to fake.

We don’t always get the lead times we’d like. Few in this business do. What we get, instead, is the choice of how we respond when the runway disappears. Grit builds the reserves. Agency spends them at the right moment. Put those two together, and you get the kind of PR person-and the kind of PR firm-that clients keep coming back to, long after the details of any one dinner are forgotten.

PR Matters is a roundtable column by members of the local chapter of the UK-based International Public Relations Association (IPRA), the world’s premier association for senior professionals around the world. Noel Rene Nieva, president and CEO of Perceptions, Inc., one of the country’s leading PR counsels, is the immediate past national chair of IPRA Philippines.

DoubleDragon’s Consolidated Revenues for the first six months of 2026 reaches P8.55 Billion, 23.0% higher than the same period last year.

DoubleDragon’s core revenues increased by 70.2% year-on year in the first six months of 2026.

DoubleDragon’s core net income increased to 161.89% in the first 6 months of 2026 vs same period last year to P2.41 Billion.

Notably, DoubleDragon’s core revenues continue to accelerate strongly, and as expected being part of its growth trajectory, the Company continue its transition away from fair value gains and towards recurring and core operating revenues as the investment and leasing properties gets completed and starts to generate recurring revenues.

As of June 30, 2026, Total Assets stands at P246 Billion vs P225.3 Billion as of December 31, 2025.

Total Equity reached P105.7 Billion as of June 30, 2026, increasing by P4.1 Billion from year-end 2025.

Debt-to-equity remains very healthy at 1.03x, far lower than the 2.33x debt ceiling.

Full shift to core revenues is expected by 2028 onwards.

In the second half of 2026 this year alone, DD is set to open 3 new additional CityMall community malls, 2 more new CentralHub warehouse complexes, 5 more new full-sized MerryMart supermarkets, and opening 3 more new Hotel101 in Davao, Cebu and Niseko Hokkaido Japan.

DD has generated significant increase in its core revenues and core income, and DD expects an even higher jump in its core revenues by the second half of this year 2026, driven by the continued generation of core revenues from its leasing portfolios, new mall openings, new warehouses, new office tenants, new MerryMart supermarkets and mainly from the expected new unit sales from Hotel101 projects in the Philippines and from several countries overseas.

On June 24, 2026, DoubleDragon completed the acquisition of 98.61% of MerryMart Consumer Corp., further accelerating the transition of DoubleDragon into an investment holding company. The MerryMart Group adds long-term strategic value to the DoubleDragon portfolio through its provincial community malls, office buildings, warehouse complexes and its hospitality portfolio, including the asset-light Hotel101 business that continues to expand in the Philippines and globally.

To date, DoubleDragon is the first and only Filipino company that has a subsidiary listed on the U.S. NASDAQ Stock Exchange, enabling DoubleDragon to gain access to the deep capital markets in the United States for its pipeline of equity and capital raises.

DoubleDragon recently conducted the Topping Off ceremony of the 702-room Hotel101-Libis at the Robinsons Bridgetowne Estate as the building structure and topmost floor of the hotel project has been completed.

Hotel101-Libis with 702 rooms is set to be the largest hotel in the whole of Quezon City, Philippines.

DoubleDragon Corporation’s Board recently approved the creation of a Singapore SPV, DD Hotel101 Worldwide One, which it will sponsor as a S$300 million SGD REIT. It is expected to become the fifth pure hospitality-listed REIT on the Singapore Stock Exchange (SGX).

This step will significantly enhance the attractiveness of the H101 PropTech Platform as it prepares to enter the third phase of hyper growth via Licensing. It forms part of the necessary sequence of actions required to support Hotel101’s goal of developing one million standardized rooms. Over time, the Company intends to expand the H101 REIT platform by listing across various major stock exchanges globally.

This strategy aligns with Hotel101 Global’s disciplined, asset light, prop-tech hospitality model and supports the Company’s ultimate vision of developing one million standardized rooms across more than 100 countries, with the goal of becoming the world’s largest single-brand hotel chain.

DoubleDragon Group continues to tap various capital initiatives to further strengthen its balance sheet and boost its overall progress towards its 2035 Vision.

DoubleDragon Corporation happens to be one of the very few companies that has not only positioned its diversified portfolio of hard assets spread out across the Philippines, but it also happens to be one of the very few companies that has organically developed a novel asset-light concept and highly unique business model in Hotel101 (HBnB) that is exportable to other continents globally.

In our view, for a business to thrive in today’s highly volatile and rapidly evolving landscape, it must possess the potential to achieve significant and sustainable growth over the long term. Specifically, a Company must demonstrate a high chance and potential to grow more than 10x over the next 10 years is imperative to create substantial value for stakeholders. DD has remained laser-focused on building a portfolio of hard assets in high-growth, sunrise industries while simultaneously developing innovative and differentiated business models. DD has consistently pursued opportunities that combine strong asset backing with scalable, future-oriented concept in Hotel101, a novel business model that DD believes represents a new and distinct category within the global hotel industry. Its unique business model integrates elements of proptech hospitality platform in a manner that has not previously been implemented at scale anywhere in the world, positioning it to capture significant growth opportunities both domestically and internationally.

Over the past 4 years, DD has strategically prepared itself in anticipation of the disruptive impact that the maturation and commercialization of AI agents are expected to bring. As this transformation could unfold over the coming months may be far more destructive than the effects of the past economic crises and could be far more destructive than what the Middle East conflict is currently bringing to the Philippine economy. One of the most notable strategic steps that DD has initiated in the past 4 years is by deliberately have no exposure to any large BPO tenants and in the past several years have intentionally totally exited the condominium development business that is now on massive oversupply and may worsen even more with the expected coming ripening and commercialization AI Agent disruptive effects to the BPO/call center industry, DD has pushed itself to further strengthen its office buildings with non-large BPO locators, grow its community malls, hotels and industrial warehouse portfolio in the Philippines, and create a unique and novel, exportable, repeatable business model in Hotel101 that can thrive in over 100 countries around the world.

This year 2026 will be the year with the highest number of room openings in one year. A total of additional 2,229 hotel rooms: 680-room Hotel101-Madrid, Spain, 519-room Hotel101- Davao, 548-room Hotel101-Cebu and 482-room Hotel101- Niseko Hokkaido Japan.

The 518-room Hotel101-Manila and the 606-room Hotel101-Fort in the Philippines continue to consistently operate at very high occupancy levels.

2026 is set to be the year with DoubleDragon to start generating high volume of recurring revenues from its portfolio of provincial community mall leasing, industrial warehouse leasing, office leasing and its hospitality portfolio in the Philippines and overseas.

The global expansion of Hotel101 is expected to eventually become one of the major US Dollar inflow generators to the Philippine economy.

DoubleDragon believes that gone are the days when Philippine companies bring in foreign brands and concepts to the Philippines or copying what works abroad to the Philippine market, but rather developing a truly unique and differentiated branded business models in the Philippines and then export it to the rest of the world would have a far larger and lasting positive impact to the Philippine economy.

The DoubleDragon team is committed to put in the necessary hard work, entrepreneurial grit and perseverance towards this vision and eventually aims to make Hotel101 a truly global brand operating in various jurisdictions worldwide, and eventually bring a pinch of pride and honor to our fellow Filipino countrymen.

The DoubleDragon team is grateful to the support of its stakeholders that despite it being a relatively new player in the sector with large established players who are already deeply entrenched many decades way ahead of it, DD has was still able to thrive and grow and natural to any start-up company in this modern day the growth journey was never a perfect straight line. As many would recall, DD has started its expansion journey when it listed in the Philippine Stock Exchange 12 years ago as a start-up company in 2014 at ?2 pesos per share, and as of Aug 14, 2026 trades at 6x or 605% versus its listing price to ?12.10 pesos per DD share today.

The country’s economic managers pushed for policy reforms and transparent fiscal management to drive faster economic growth and strengthen resilience amid headwinds during the 2026 Economic Journalists Association of the Philippines (EJAP) Economic Forum.

Held on August 14, 2026, at the Bangko Sentral ng Pilipinas (BSP) Assembly Hall, the forum featured the theme ‘Strengthening Economic Resilience in an Era of Uncertainty.’

Finance Secretary Frederick D. Go said that the government remains focused on its objectives and pursuing reforms.

Reforms to encourage investments in the country include the Public-Private Partnership Code, CREATE MORE Act, Investors’ Lease Act, Accelerated and Reformed Right of Way Act, the Enhanced Mining Fiscal Regime Act, Capital Markets Efficiency Promotion Act and the Green Lane Initiative.

‘This administration has moved from setting the stage to execution, turning policy into investment and investment into jobs and opportunities for the people,’ Go said.

Following the Philippines’ transition to upper-middle income status, Department of Economy, Planning and Development Secretary Arsenio M. Balisacan said that the country needs to diversify its growth drivers by going beyond consumption and services to sustain growth and become a high-income economy.

He said the economy needs to generate more investments, strengthen exports and revitalize agriculture and industry.

‘The next two years for us are really about speeding up the implementation of programs and projects, and the completion, especially, of strategic programs and projects. And of course, keeping inflation in check is a very high priority,’ Balisacan said.

While external supply shocks that have pushed inflation are beyond the government’s control, BSP Governor Eli M. Remolona, Jr. said that the central bank is mitigating second-round effects.

‘With the growth numbers and the inflation numbers, I think we need a more convincing downward trend for inflation before we can relax. Of course, the weaker growth that we’re seeing means we can be less aggressive in trying to tame inflation. But in the face of an unpredictable opponent – oil prices, for example – we need to keep our eye on the ball,’ Remolona said.

Department of Budget and Management Acting Secretary Kim Robert C. De Leon emphasized the importance of transparency and accountability in every stage of the budget process to support growth.

‘Behind every peso is a person. Behind every allocation is a choice. And behind every budget decision should be a better life for a Filipino,’ De Leon said.

Private sector representatives from the fintech and manufacturing sectors stressed the importance of public-private sector alignment in implementing reforms.

Michelle S. Fernandez, vice president and head of corporate sustainability and communications at GCash, said digital finance is becoming an important economic infrastructure, particularly in disbursing aid during shocks.

‘The real test of digital social protection is not whether a transfer can be sent in seconds. It’s when support arrives, not in a vacuum, but into an ecosystem where it can immediately improve a life,’ Fernandez said.

Maya Philippines Head of Corporate Affairs Kristoffer M. Rada advocated for shared standards and open competition to ensure digital financial access leads to productive results.

‘The Philippines has already built much of the infrastructure for digital financial access. Our next task is to make sure that access is economically meaningful,’ Rada said, adding that this requires the government and the private sector to agree on common infrastructure, common standards and strong safeguards.

JTI Philippines Fiscal and Regulatory Affairs Director Mario T. Zinampan noted that economic resilience requires resistance against illicit trade.

‘A resilient economy resists illicit trade, and the Philippines is not starting from zero. The destination principle is already embedded in various Philippine laws and regulations,’ Zinampan said.

The 2026 EJAP Economic Forum was supported by gold sponsors Maya Philippines Inc., GCash and JTI Philippines and silver sponsor BDO Unibank Inc.

SM Investments Corp., Prime Infrastructure Capital Inc., Filinvest Development Corp., Metropolitan Bank and Trust Co., Rizal Commercial Banking Corp., Philippine National Bank, Security Bank Corp., EastWest Banking Corp. and Asialink Finance Corp. were bronze sponsors.

EJAP is the country’s premier organization of business and economic reporters dedicated to promoting excellence in journalism and fostering professional development among its members.

THE Department of Justice (DOJ) has ruled that the Executive Department has the authority to include ‘ratchet’ provisions in the ongoing Philippines-European Union Free Trade Agreement (PHL-EU FTA) negotiation subject to the foreign ownership limits under Article XII of the Constitution.

In a five-page legal opinion signed by Justice Secretary Fredderick Vida, the DOJ also stressed that consultations with relevant stakeholders should be conducted before the country’s trade negotiations commit to a ratchet provision in the PHL-EU FTA.

Under a ratchet mechanism provision, parties to an FTA commit to maintain any further openings in their respective markets that they may unilaterally decide upon.

The DOJ explains that if a party commits to allowing 40 percent foreign ownership in a particular sector, and subsequently, unilaterally allows a higher percentage, said party cannot revert to the previous rules, pursuant to the ratchet mechanism.

In other words, a party can no longer adopt and implement measures to revert to the previous restrictive regulations it has implemented.

While the Executive branch has the authority to bind the Philippines to a non-reversible baseline of liberalization, the DOJ stressed that the ratchet provisions cannot contravene the mandatory thresholds established under Article XII of the 1987 Constitution (National Economy and Patrimony).

‘We trust that consultations have been made with the relevant stakeholders before the country’s trade negotiators would commit to a ratchet provision in the PHL-EU FTA or in any other FTA, and that trade negotiators must ensure that sectors subject to the ratchet clause must comply with explicit constitutional caps,’ the DOJ said.

Furthermore, the DOJ said the PHL-EU FTA would need the concurrence of the Senate for it to be valid and effective since it imposes permanent international obligations and alters domestic regulatory space.

The Justice department noted that the existing free trade agreements such as the Philippines-Japan Economic Partnership Agreement (PJEPA), PHL-European Free Trade Association FTA, PHL-Korea FTA and the Regional Comprehensive Economic Partnership (RCEP) are all classified as treaties, thus, were submitted to the Senate for concurrence to be valid and effective.

‘In sum, this Department confirms that the Executive Department possesses the requisite legal authority to include ratchet provisions in the PHL-EU FTA to position the Philippines as a competitive investment destination, in harmony with the Philippine Development Plan (PDP) 2023-2028,’ the DOJ said.

‘To ensure that the PHL-EU FTA withstands any future legal or constitutional challenge, the negotiators must ensure that the liberalization baselines locked in by the ratchet provisions strictly respect the economic ceilings in Article XII of the Constitution, and the final text of the agreement is duly submitted to the Senate for formal ratification and concurrence,’ it added.

The DOJ issued the legal opinion upon the request of Department of Trade and Industry-Undersecretary for International Trade Group Allan Gepty.

In his letter-request, Gepty sought the DOJ’s confirmation of the DTI’s understanding that committing trade liberalization in the services and investments, specifically the inclusion of ratchet provisions in the PHL-EU FTA negotiations, is a policy matter that the Executive branch may consider and enter into, subject to the necessary consultations and constitutional limitations.

RENEWED clan and political violence in parts of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) is raising fresh concerns over the safety of communities and the integrity of the electoral process, as longstanding local disputes escalate ahead of the elections.

In its the latest bulletin, the Climate Conflict Action Asia (CCAA) said renewed firefights in the town of Kadayangan in the Special Geographic Area (SGA) and Sultan sa Barongis in Maguindanao del Sur, underscored the persistent security risks posed by rido-a cycle of clan-based conflict that can be deeply intertwined with political rivalries, land disputes and local power struggles.

In Kadayangan, fighting reignited on August 4 between forces aligned with the mayor of Nabalawag and a Moro Islamic Liberation Front (MILF) commander.

The clashes displaced about 1,850 people, many of whom had already been forced from their homes by earlier violence.

Although the latest fighting was not explicitly attributed to the elections, the CCAA said the opposing factions are closely associated with rival political parties. It said the violence has consequently severely restricted campaign activities, with candidates and supporters reportedly fearful of possible retaliation.

CCAA described the situation as similarly volatile in Sultan sa Barongis, where a longstanding land dispute between two families erupted into heavy gunfire on August 5. One family is linked to the barangay chairperson of Tugal, while the other has ties to a former Moro Islamic Liberation Front commander. The politically prominent family had also survived a targeted ambush in June, highlighting the growing risks as local electoral contests approached.

For civilians caught in these conflicts, the CCAA said the security crisis has been compounded by severe flooding.

It said families fleeing firefights have had to contend simultaneously with displacement caused by natural disasters, placing additional pressure on already vulnerable communities and local authorities.

CCAA warned that conflict and natural disasters can create a compounded humanitarian crisis, with civilians bearing the brunt of both identity-based violence and environmental hazards.

The think tank said the convergence of conflict, displacement and flooding also creates risks forthe electoral process.

Residents displaced by violence may find it difficult or unsafe to return to their communities, campaign activities may be curtailed, and voters could face obstacles in reaching polling centers on election day.

The CCAA said these conditions raise the possibility that violence could affect not only public safety but also voter participation and the ability of candidates to campaign freely.

Authorities have responded by increasing security in areas considered vulnerable to election-related violence.

The Commission on Elections (Comelec) has designated at least 100 areas as election hotspots, prompting the deployment of additional military and elite police personnel in high-risk communities.

Authorities have also intensified enforcement of the election gun ban. At least 12 individuals have been arrested for violations, although gun-related violence remains a persistent concern, with at least 10 incidents recorded during the first half of August.

The CCAA said the increased security presence has helped stabilize several high-risk areas in the immediate term. But the latest flare-ups demonstrate the limits of relying solely on security deployments to contain deeply rooted local conflicts.

For peacebuilding advocates, the CCAA said the challenge extends beyond keeping polling centers secure on election day.

In addition, the CCAA said the recurrence of rido reflects longstanding disputes over land, political influence, family rivalries and local authority. These conflicts can remain dormant for years before being reignited by political competition or other triggers.

As the elections draw closer, CCAA said temporary security measures may help prevent further escalation, but they cannot by themselves resolve the underlying disputes.

The CCAA said a credible and peaceful electoral process in BARMM will therefore require sustained conflict-resolution and reconciliation efforts alongside security operations. ‘Such mechanisms will be essential not only to protect voters and candidates during the elections, but also to prevent displaced communities from becoming trapped in recurring cycles of violence long after the ballots have been counted,’ the CCAA explained.

‘The latest clashes serve as a reminder that for many communities in BARMM, election security is inseparable from the broader challenge of building lasting peace. Without addressing the structural causes of rido, the immediate calm created by heightened security could prove only temporary,’ said the CCAA.

Local milk output surged to a record 25.38 million liters in the first half as price increases encouraged farmers to expand their production capacity, according to the National Dairy Authority (NDA).

Data from the Philippine Statistics Authority (PSA) showed that local milk production jumped by 21.2 percent to 25.38 million liters in January to June, from 20.94 million liters in the same period last year.

Historical data showed that this was the highest level recorded in the period since the time series started in 1981.

The value of dairy output at constant 2018 prices also leaped by 21.4 percent to P975.73 million as of June, from last year’s P804.04 million.

The country’s dairy herd expanded to 165,858 heads, up by 6.5 percent from 155,662 heads in the previous year, which reflected the continued expansion of the country’s dairy production base, according to NDA.

NDA Administrator Marcus Antonius Andaya said the latest figures indicate the growing productive capacity of the local dairy sector and the availability of more opportunities for Filipino dairy farmers.

‘Our farmers are becoming more confident in investing in their farms because they see a growing and reliable market for their milk,’ he said.

‘With the support provided by the NDA and the increased demand generated by government nutrition programs, farmers are encouraged to expand their herds, invest in quality feeds, and increase milk production.’

The government is providing milk to Filipino children through the Department of Education’s (DepEd) School-Based Feeding Program, the Department of Social Welfare and Development’s (DSWD) feeding initiatives, and local government feeding programs for daycare children.

‘The government’s procurement of locally produced milk through the Sagip Saka Act further gives our farmers the confidence that there is a ready market for their growing output,’ Andaya said.

The NDA said it will continue implementing programs focused on herd build-up, genetic improvement, dairy enterprise development, animal nutrition, milk processing, market development, and other interventions to further increase productivity and strengthen the dairy value chain.

The agency attached to the Department of Agriculture noted the importance of sustained government demand for locally produced milk in encouraging farmers to invest more in farm productivity.

With the dairy industry sustaining growth across key indicators in the first half, the NDA said it remains committed to supporting a stronger and more productive Philippine dairy sector.

Ginebra San Miguel Inc. (GSMI) is giving consumers more reasons to celebrate as it launches the nationwide ‘Ginuman Na! Ginebra Na! Ginstanalo Under-the-Seal/ Under-the-Cap Promo!’ offering millions of pesos worth of cash prizes, including five grand prizes of ?1 million each.

Running from July 16 to November 15, 2026, the under-the-seal and under-the-cap consumer promo covers three GSMI brands: Ginebra San Miguel, Primera Light Brandy, and Freedom Island Light Rum.

For Ginebra San Miguel consumers, the excitement is clear with major cash prizes of ?100,000 and the much-awaited five ?1 million grand prize by simply looking under the seal or cap of the participating GSMI products they buy.

Participants can also win semi-major cash prizes, with ?20,000 from Primera Light Brandy, ?10,000 from Ginebra San Miguel, and ?5,000 from Freedom Island Light Rum. Over P100M cash prizes are up for grabs in this year’s Ginstanalo promo, which will be the biggest in GSMI’s history.

Consumers also have the chance to instantly win cash prizes by checking the promo seal or cap of participating products. Lucky buyers of Ginebra San Miguel can instantly win ?10, while Primera Light Brandy and Freedom Island Light Rum offer instant cash prizes of ?20.

The promo covers Ginebra San Miguel Round, Frasquito and Frasco bottles, with winning codes found under the promo seals. Participating Primera Light Brandy (750 mL and 1 L) and Freedom Island Light Rum (750 mL) bottles carry winning codes under their promo caps.

Through the ‘Ginuman Na! Ginebra Na! Ginstanalo Promo!’ GSMI continues its tradition of bringing excitement and rewarding loyal consumers across the country. .