Category: Business Mirror

Former Senate President Franklin M. Drilon lauded the Supreme Court’s recognition of unprogrammed appropriations as a valid budgetary tool, while urging Congress to seek clarification on portions of the decision that may encroach on its constitutional authority over budgeting.

Based on his reading of the decision, Drilon said the Court affirmed that unprogrammed appropriations are not unconstitutional in themselves. They provide standby spending authority that may be exercised only when the funding conditions prescribed by law are met.

He said seeking clarification is appropriate because the ruling, as currently written, may go beyond constitutional review by prescribing fiscal conditions that, under the 1987 Constitution, should be left to the best judgment of Congress.

Drilon said the ruling affects Congress’ authority to determine appropriations.

Drilon also congratulated the court, saying its release comes at a crucial stage in the preparation of the 2027 national budget.

‘We look forward to seeing how the reforms will be reflected in the 2027 budget,’ Drilon sais.

As amicus curiae during the proceedings, Drilon defended the constitutionality of unprogrammed appropriations while warning that their implementation could violate constitutional limits.

He also acknowledged that flaws or abuses in the mechanism may require correction. But the standards needed to address them should be expressly imposed by Congress through legislation, with the Court determining whether those standards comply with the Constitution.

For Drilon, identifying a constitutional defect does not necessarily authorize the Court to write budget guidelines that would replace Congress’ express conditions. Doing so, he warned, raises concerns about judicial legislation.

‘Congress determines appropriations and their lawful conditions. The Executive implements the budget within those conditions. Both functions remain subject to the Constitution,’ Drilon said.

Replacing the funding trigger enacted by Congress, he warned, could narrow legislative discretion and restrict the Executive’s ability to implement the budget under the approved framework.

Drilon said clarification would help establish the boundaries of judicial review while preserving constitutional safeguards against the misuse of public funds.

‘The concern therefore extends beyond one administration or one budget. It involves the scope of the budget powers available to future Congresses and Presidents,’ he said.

Vice President Sara Duterte said President Ferdinand Marcos Jr. must be held accountable for passing a national budget she claimed clearly contradicts the National Expenditure Program (NEP), after the Supreme Court declared the 2024 General Appropriations Act (GAA) unconstitutional, invalidated the 2025 GAA, and struck down certain provisions of the 2026 national budget.

‘He must answer why he signed a budget that does not even align with his own administration’s proposal. The national budget belongs to the people; it is not a tool for politicking and the personal interests of those in power,’ Duterte said in a statement released on Wednesday.

In a decision issued on Tuesday, the SC declared 2024 and 2025 GAAs unconstitutional because Congress unlawfully increased spending limits beyond the President’s budget proposal, citing a P449.5 billion increase in 2024 unprogrammed funds and a P17.99 billion Special Road Fund increase in 2025, alongside specific 2026 budget provisions.

Duterte said that the SC has already defended the law.

‘Now it is time for Marcos and the members of Congress who violated the process and indulged in funds that should have gone toward improving the lives of Filipinos to be held accountable to the public,’ Duterte said, adding that the ruling upholds the Constitution and ‘ensures that the rule of law prevails, based on its decision.’

She also felt vindicated, saying that her warning in 2024 was right after all, claiming that the Bicameral Conference Committee is ‘no longer doing its job.’

‘Instead of reviewing and debating, it has become a mere stamping pad and rubber stamp for Malacañang’s wishes regarding the national budget,’ she said.

CEBU – The Chamber of Real Estate and Builders’ Associations Inc. (Creba) is calling on the government to overhaul socialized housing compliance rules, streamline licensing procedures, and introduce a housing interest subsidy to tackle the country’s massive housing backlog.

Speaking at a press conference on Wednesday ahead of Creba’s 53rd National Convention, National President Noel Toti Cariño stressed that national housing policy must shift focus from simply building units to ensuring target beneficiaries can actually afford and occupy them.

To address financing barriers, Creba proposed an interest subsidy program administered by the Home Development Mutual Fund (Pag-IBIG Fund) and funded directly by participating developers. Under the proposed mechanism, non-recoverable contributions from developers would lower monthly loan interest payments for eligible buyers.

‘This way, we are addressing the issue of affordability, not just the issue of production of homes,’ Cariño said, pointing out that existing requirements often result in vacant units built in inconvenient or low-demand locations.

The proposal has been submitted to the Department of Human Settlements and Urban Development (DHSUD), Pag-IBIG Fund, and the Executive branch, where it is currently under review.

Categorizing beneficiaries

National Convention Chairman Jose Soberano III emphasized the need to differentiate between buyers who can qualify for loans with financial help and lower-income families who cannot afford to borrow at all.

Soberano noted that while Pag-IBIG subsidies can assist employed and self-employed buyers, lower-income households require direct assistance from agencies like the National Housing Authority through programs such as rent-to-own schemes.

Soberano added that a workable financial model is essential for developers to recover capital and sustain private sector participation.

Creba also raised concerns over regulatory delays, particularly a DHSUD memorandum requiring sales proceeds from temporary Licenses to Sell (LTS) be placed in escrow. Cariño argued that locking up funds constrains capital developers need to push projects forward after already investing heavily in land acquisition and planning.

The association welcomed DHSUD’s decision to restore processing authority to regional offices, noting that recent centralization threatened to delay developments across the Visayas and Mindanao.

AS Association of Southeast Asian Nations Ministers and Leaders conclude the 20th Asean Ministerial Meeting on Transnational Crime (AMMTC) in Makati, Interior Secretary Juanito Victor C. Remulla is confident of a stronger, more effective, and regional response to combat evolving transnational crimes.

On Wednesday, Asean leaders including Remulla, the AMMTC chairman; Goh Pei Ming (Singapore), Dato’ Seri Setia Awang Haji Sufian bin Haji Sabtu (Brunei Darussalam), and Maj. Gen. Kongsavat Boulnieng (Laos) concluded the meeting.

Delegations and officials also represented Vietnam, Malaysia (led by Home Ministry Secretary-General Datuk Dr Awang Alik Jeman), Indonesia, Cambodia, Thailand, and Myanmar.

Dato’ Astanah Abdul Aziz attended the meeting as the Deputy Secretary-General of the regional body for the Asean Political-Security Community.

At a news briefing on Wednesday, Remulla enumerated three significant outcomes of the three-day meeting, which saw Asean Member State Ministers and Leaders actively taking part in the discussions.

Remulla said the AMMTC has advanced the Asean Declaration to Protect Children against Sexual Abuse and Exploitation, including material created with Artificial Intelligence; took up the first Asean Region Trafficking in Persons Report, providing the region an overview of the drive against trafficking in persons, and agreed to adopt a joint statement that sets the next steps in trafficking in persons, terrorism, and cybercrime.

‘In December 1997, Asean ministers met for the first time in Manila to discuss transnational crime. AMMTC has come home. All 11 ASEAN Member States sat for consultations with Japan, China and the Republic of Korea,’ Remulla said.

Much has changed since 1997, including online scams, trafficking, money laundering and drug trafficking; now they feed each other, and they move across borders, he added.

The Philippines will soon turn over leadership to Singapore for the 21st AMMTC.

Border control

REMULLA said the DILG is coordinating with various law-enforcement agencies, including possible conduct of joint operations with Asean neighbors to strengthen the Philippines’ capability to secure its borders.

‘That is an internal security matter that we are taking up to strengthen our borders,’ he said, admitting that it has been a point of concern for authorities.

‘We are upgrading our capacity, upgrading our technology, and upgrading our monitoring to better protect our borders,’ he said.

Internal security to protect the country’s border is ongoing to protect its borders and prevent trafficking in humans, particularly for those who make use of backdoor channels, admitting that it is a complicated matter that require close coordination between and among law-enforcdement agencies in the Philippines and its Asean neighbors.

‘Remember, we have the third largest coastline in the world. Thinking that there’s a simple solution to a complicated problem makes it a simplistic affair. But it is not. It is very complicated but we are focused and we are determined to protect our borders,’ he said.

Remulla underscored the strength of regional cooperation, citing the interception of 521 kilos of suspected shabu in Laos from Malaysia, which is bound for the Philippines.

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He said close coordination between and among agencies, including intelligence sharing, proved effective in combating drug trafficking in this case.

Micro scam hubs

REMULLA also said that authorities are also closely looking into the operation of at least three micro scam hubs in Metro Manila following the successful raid of a scam hub in Zamboanga Sibugay early this month.

The hub was dubbed as the largest Philippine Offshore Gaming Operator (Pogo) that continues to operate despite the ban by the Marcos administration more than two years ago.

Authorities arrested 244 foreigners, mostly Chinese, during the operation.

Remulla said the operation of micro scam hubs may proved difficult to track because of the size of the employees, which range between 10 to 20 people only.

He said the Pogo operation is small and they would only rent a small house, instead of a big building or space.

He said that these small micro hubs are operated both by foreigners with local contacts and partners.

He also debunked the claim that the anti-Pogo campaign is ningas-kogon, saying there has been no let up in the operation, resulting in the dismantling of the hubs and arrest of employees.

NXLED shook off a second-set setback with a decisive surge in the closing frames, overpowering Galeries Tower, 25-16, 22-25, 25-17, 25-19, to seize the solo lead in the 2026 Premier Volleyball League All-Filipino Conference Siklab series on Thursday at the SM Mall of Asia Arena.

The Chameleons hammered down 14 blocks against Galeries Tower after racking up 23 against the Farm Foxies last week.

‘Well, it’s nice to see that we have the same resilience that we showed in the last part of the PVL On Tour, and especially during the Invitational,’ said Nxled head coach Ettore Guidetti. ‘So we started definitely following the same line. So I see a bunch of determination in the team.’

The Chameleons will have nearly two weeks to recharge before returning to action against the Choco Mucho Flying Titans in a marquee showdown between two of the conference’s hottest teams on November 3 at 6 p.m. at the Smart Araneta Coliseum.

Choco Mucho was seeking to match Nxled’s blistering start against Farm Fresh at presstime, setting the stage for a potentially high-stakes clash between the league’s early contenders.

Jonah Sabete-Escamillan spearheaded the Chameleons’ charge with a game-high 22 points, adding three blocks, nine excellent receptions and six excellent digs in a superb all-around performance.

MJ Phillips chipped in 14 points on 11 attacks and three kill blocks, while three-time MVP Brooke Van Sickle delivered a double-double of 12 points and 13 excellent digs as Nxled wrapped up the one-hour, 45-minute encounter.

Gel Cayuna orchestrated the Chameleons’ attack with 20 excellent sets while contributing eight points, and veteran libero Bang Pineda anchored the floor defense with 10 excellent digs.

Nxled finished with a commanding 14-4 advantage in blocks and a 61-46 edge in attacks, making the difference in a match that briefly threatened to slip away after the Chameleons’ second-set letdown.

‘I see the team definitely more calm and serene, even if we are facing difficult situations, because this conference is made of teams that are all very good. There is not a single team that you can consider weak,’ Guidetti said. ‘And so it’s really important to see that this kind of energy is definitely being constant.’

Galeries Tower, meanwhile, remained winless after absorbing its third straight defeat.

Alyssa Bertolano led the Highrisers with 13 points, seven excellent digs and six excellent receptions off the bench. Jean Asis added eight points, while Erika Deloria and Lycha Ebon chipped in seven apiece. Lams Lamina managed six excellent sets as Galeries Tower struggled to sustain its offensive rhythm against Nxled’s imposing defense.

The Highrisers will seek to break into the win column against the Flying Titans on Tuesday at 6 p.m. at the Ninoy Aquino Stadium.

Makati Medical Center (MakatiMed) partners with De La Salle Santiago Zobel School (DLSZ) to strengthen access to psychological and psychiatric services for students and employees, reinforcing the hospital’s commitment to supporting mental health and well-being through accessible, professional, and confidential care.

Under a Memorandum of Agreement (MOA), MakatiMed will serve as a referral partner of DLSZ for individuals who may require psychological assessment, psychotherapy, or psychiatric care. The partnership establishes a coordinated referral process that connects students and employees with appropriate mental health professionals based on their needs.

Through this collaboration, MakatiMed will provide online or in-person psychological and psychiatric services to referred individuals. Its team of psychologists and psychiatrists will oversee the management of cases, determine the appropriate duration and number of sessions, and monitor progress in accordance with professional and ethical standards.

Beyond individual consultations, MakatiMed will conduct at least one free seminar engagement annually for students, parents, and other members of the Lasallian community. These sessions will feature topics related to mental health and wellness, helping promote awareness and encourage informed conversations about psychological well-being.

In her statement, Dr. Ruby P. Ramos, School Principal of DLSZ emphasized the importance of the partnership in strengthening mental health support within its community. Dr. Ramos said, ‘Partnering with a trusted institution like Makati Medical Center enables us to reinforce our commitment to holistic student development. Together, we are creating a safer, more compassionate school environment where every Lasallian can thrive mentally, emotionally, and academically.’

Through this partnership with DLSZ, MakatiMed continues to advance its commitment to patient-centered care, recognizing that mental health is an essential component of overall well-being and that timely access to appropriate professional support can make a meaningful difference in people’s lives.

Ababy’s skin may feel soft and smooth, but its natural protective barrier is still developing. For parents, keeping that delicate skin clean, comfortable, and moisturized means choosing products formulated specifically for an infant’s needs.

Baby skin differs from adult skin in its structure and ability to retain moisture. This makes gentle cleansing and regular moisturization important in helping maintain its protective barrier and minimize dryness and irritation.

Why baby skin needs special care

Parents may be tempted to share their favorite soaps and lotions with their little ones, but adult products are not necessarily formulated for an infant’s more delicate skin. Some cleansers may strip away natural oils, potentially leaving the skin dry or irritated.

Dr. Neha Sahapture, a scientist from Kenvue Research and Development, explained that family bar soaps may contain ingredients and have pH levels that are not ideal for baby skin.

‘The biggest difference is the cleanser formulation. Most of the family soap has contents that contain pH of 7, while babies only have pH of 5.5. Plus, family soap usually has ingredients that might not be as suitable for babies,’ Dr. Sahapture said.

Choosing products specifically formulated for babies can help parents establish a gentler cleansing routine while supporting their child’s skin moisture needs.

Moisture that lasts beyond bath time

Bath time is an opportunity not only to cleanse a baby’s skin but also to help maintain its moisture. Following a gentle bath with an appropriate moisturizer can help reduce dryness and support the skin’s natural protective function.

Designed with these needs in mind, Johnson’s Baby’s HaploScience line features the Milk+Rice Bath and Milk+Rice Lotion. The products contain milk proteins, rice extracts, aloe vera, and vitamin B5, ingredients included in the formulations to support skin nourishment and moisturization.

According to company testing, the bath-and-lotion regimen provides hydration for up to 72 hours with regular use. The formulation is also reported to be twice as moisturizing as a family bar soap.

The products use surfactants designed to cleanse without excessively stripping the skin’s natural protective barrier, Sahapture said.

‘Johnson’s uses surfactants that do not strip off the natural barrier of the developing baby skin barrier. That is how we ensure that Johnson baby products are formulated right,’ she added.

The line is formulated without parabens, phthalates, and sulfates, according to the company.

Keeping skin-care simple

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Caring for a baby’s skin does not require a complicated routine. Gentle cleansing, appropriate moisturization, and attention to signs of dryness or irritation can help support skin health.

Parents can start by choosing products specifically formulated for infants and applying a suitable moisturizer after bathing. If persistent redness, itching, or scaling develops, consulting a pediatrician is advisable.

Ultimately, the goal is to choose products that meet a baby’s developing needs. With informed choices and consistent care, parents can help maintain their little one’s skin moisture and support its natural protective barrier.

The Commission on Elections (Comelec) has completed printing all official ballots for the Batanes special election and Naga City plebiscite.

Comelec Spokesperson John Rex E. Laudiangco said the poll body’s Ballot Production Group had completed printing all official ballots for the Batanes special election on Wednesday.

‘Please be informed that the Ballot Production Group had completed the printing of all the Official Ballots for the Batanes Special Election, and will now be subjected to the sheeting process,’ Laudiangco said in a text message.

The completion follows the printing of 120,720 official ballots for the Naga City plebiscite on Tuesday and 13,138 ballots for Batanes.

Comelec suspended printing for both electoral exercises last week over separate pending requirements.

For Batanes, the National Printing Office had yet to submit a quotation in response to the poll body’s request for quotation, while the Naga plebiscite required a revision in ballot quantity following advice from Comelec’s Allocation Committee.

The Batanes special election is scheduled for Nov. 28 to elect a representative for the province’s lone legislative district following the death of former Rep. Ciriaco Gato Jr.

Meanwhile, the Nov. 21 Naga City plebiscite will ask voters to ratify the city’s proposed conversion into a highly urbanized city.

The Department of Migrant Workers (DMW) said no overseas Filipino workers (OFWs) in France and Italy have sought government assistance for repatriation, as the security situation in both European countries has calmed down.

Both countries were hit by violent mass demonstrations in previous days as their citizens protested the rising cost of living.

Citing their latest monitoring, DMW Secretary Hans J. Cacdac disclosed Filipinos in the two countries were not adversely affected by the said rallies.

‘So far, no Filipinos have been adversely affected by the incidents that have occurred over the past few days. The situation has since calmed down and is now under the control of local law enforcement,’ he said in Filipino in a media forum last Wednesday.

The DMW chief maintained they are ready to bring home affected Filipinos in France and Italy if tensions in both countries escalate.

‘The President himself ordered monitoring and the possibility of evacuation and repatriation. We will be there to help them and to guide them in coordination with our embassies and the Consulate General’s office,’ Cacdac said.

He noted Filipinos may request repatriation aid by contacting the nearest embassy, consulate, or Migrant Workers Office in their area.

‘We are closely monitoring the situation with our embassy in Paris and our Consulate General’s office in Milan and our embassy in Rome. So, we are engaging the Filipino community in discussions,’ Cacdac said.

‘We’ve opened the lines of communication and helplines for anyone who needs help,’ he added.

The oil market is suddenly being gripped by a divergence between futures and physical prices, something that’s playing out in two closely watched versions of Brent crude.

In the last couple of weeks, Brent futures – where billions of dollars of contracts change hands every day – climbed about $10 a barrel to a five-month high near $112. The rally has been driven by traders trying to gauge whether the US will escalate the Iran war after the midterm elections, and as Saudi Arabia faced Houthi attacks after the Yemeni militant group briefly shut down the kingdom’s key western export pipeline.

Yet there has been a plunge in Dated Brent, a marker that assesses the value of barrels in the real world and which matters to physical commodity traders across the globe. It’s near $120, down roughly $15 in less than two weeks. Similar benchmarks in the Middle East have also slid.

There are a number of factors dragging down prices in those markets for physical supplies, albeit from extremely high levels. Shipments through the Strait of Hormuz are holding near pre-war levels, with some cargo trackers even seeing flows above that rate, even as Iranian attacks in the crucial waterway have become more frequent and damaging.

The cost to hire tankers has also cooled a bit, making it less expensive to deliver barrels across the world than it was earlier this month. The costs have been so high this year that they’ve kept more oil close to where it’s produced, with Asian buyers shunning American crude, in turn bolstering the amount available in Europe over the coming weeks, weighing on the region’s prices.

If supplies are sustained and freight keeps sliding, it could leave oil futures susceptible to a fall in the coming weeks.

Still, some traders say it’s brave to wager against fresh supply disruptions, especially as this year has seen major Middle East oil producers come under attack, stockpiles tumble and an unprecedented shortage of tankers.

‘There’s still plenty of headline risk at play. Oil stocks are quite low and it’s difficult to see them rebuilding given current dynamic,’ said Ryan Fitzmaurice a senior commodity analyst at Marex. ‘At the same time, there are ways the market can find an out: Hormuz flows are strong and El Niño could weigh on heating demand this winter.’

The price of Dated Brent and futures are different because they reflect prices over different time periods. Traders use the spread between the two as a gauge of how strong or weak oil markets are in general. While Dated’s premium has fallen significantly recently, it remains much higher than it would be in normal times relative to futures.

Prospects for flows

Traders have good reason to be wary about whether a surge in Middle East flows can be sustained. For example, shipments jumped after the US and Iran agreed an interim peace deal in late June that allowed vessels to escape Hormuz.

That extra supply hitting the global market caused prices to crater and sent the regional Dubai market into a bearish contango structure that indicates oversupply. But within weeks, hostilities resumed and shipments through the vital waterway suffered more disruption.

Since then, flows through Hormuz have jumped. Though estimates vary, most trackers see crude shipments either close to or above pre-war levels. That rebound, along with the drop in shipping costs, has weighed on Middle Eastern crude prices in recent weeks.

Price differentials for various crude grades from Oman to Iraq have all been coming off, with barrels delivered to Asia recently sold at an above-$10-a-barrel premium to the Dubai benchmark. While still elevated, that’s down massively from premiums of roughly $35 seen last month, said traders familiar with the matter, who aren’t authorized to speak to the media.

Derivatives linked to the Middle East’s Dubai benchmark have also weakened alongside the prices of real-world barrels from the region. Prompt timespreads for the oil – the difference between this and next months’ contracts – weakened to under a dollar a barrel in backwardation this week, versus a gap of around $15 a month ago, traders and brokers said.

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‘Middle Eastern producers have sold huge volumes for autumn loadings via tenders,’ said Ed Hayden-Briffett, a research analyst at The Officials, an arm of Onyx Capital Group. In contrast, benchmark Brent crude futures ‘are more susceptible to headline noise and the grind is naturally upwards.’

Options markets

The split between bulls and bears is also showing up in the options market.

In recent days, hundreds of thousands of bearish put options that would profit from a drop in Brent back below $100 have changed hands, pushing options volumes to a record.

However, people involved in options markets said that they’ve also seen interest in buying bullish call options over recent weeks. They said the split in trading activity reflects a mix of positions, with some expecting a fresh escalation in the Iran war in the coming weeks, and others expecting a retreat in oil prices.