Govt optimistic it can sustain lower 4.7% unemployment rate despite Mideast crisis

Malacañang said the government remains optimistic about sustaining the slowdown in the unemployment rate, which fell to 4.7 percent equivalent to 2.41 million people last April, by continuing efforts to cushion the impact of the Middle East crisis and by attracting more investors.

This was lower compared to 5 percent unemployment rate last March, which is equivalent to 2.58 million people, during the onset of the war in the Middle East based on the latest Labor Force Survey of the Philippine Statistics Authority (PSA) as the government rolled out its interventions for those affected by the conflict.

However, the latest unemployment rate figures were still higher compared to the 4.1 percent in April 2025, which is equivalent to 2.06 million.

Under the Unified Package for Livelihoods, Industry, Food, and Transport (UPLIFT) initiatives, the Marcos administration provided fuel and rice subsidies, service contracting, emergency employment and cash aid to workers, which were affected by the Middle East crisis.

The efforts also include reintegration services for displaced overseas Filipino workers (OFW), which includes livelihood, upskilling, as well as local or overseas placement.

The Department of Labor and Employment (DOLE) said the government also continues to generate quality and productive employment and enhance the skills of workers

‘Government interventions continue such as creating quality and productive jobs, encouraging investments, providing livelihoods to repatriated OFWs who have lost their jobs and those who have returned to OFWs. The results [in the labor force survey] have been good, but we will not rest on our laurels,’ Palace Press Officer Claire Castro said in Filipino in a press briefing last Tuesday quoting the position of the Department of Economy, Planning, and Development (DEPDev) on the matter.

The Presidential Communications Office undersecretary said she is optimistic they can sustain the said gains in the coming months.

Quoting DEPDev Secretary Arsenio M. Balisacan, she said the thrust of the government ‘is to grow the economy while creating high quality jobs, investing skills and other productivity enhancing measures addressing gaps in social protection systems and building national and local state capacity toward accessible, resilient public services.’

‘We must always be positive [when it comes to projections] because the government never stops working, especially since the President is always working, and it is absolutely necessary to give our countrymen and people what they [deserve],’ she said.

Steven Spielberg on his faith in alien life, the future of the movies and the power of empathy

A moment early on in Disclosure Day will instinctively feel familiar to anyone who grew up with Steven Spielberg films. A TV weather report predicts hail. The camera pans downward, from television set to kitchen table. Plinking sounds begin. Cereal falls into a bowl.

‘Those were Froot Loops,’ Spielberg says, smiling. ‘My favorite.’

Spielberg’s latest, like some of his earliest and most beloved films, again concerns what might fall from above. Disclosure Day, which Universal Pictures releases June 11, returns Hollywood’s preeminent big-screen craftsman to one of his most abiding questions: Are we alone?

Coming nearly half a century after Close Encounters of the Third Kind, Disclosure Day is a grand bookend for one of the most cosmically-minded moviemakers of our time, whose dreams of extraterrestrial life have shaped all of ours. It’s a distant answer to the final notes of Close Encounters. But while Spielberg grants his 1977 film was ‘speculative,’ Disclosure Day, he insists, is the real deal.

‘It’s my first film that will be considered science fiction that I do not consider to be science fiction,’ Spielberg said in a recent interview. ‘It’s much more reflective of the world as it is evolving and discoveries that are being made as we speak.’

Spielberg, at 79, is trying to revive and reconsider the alien wonder that’s long lingered in his mind, from E.T. to War of the Worlds. Disclosure Day, Spielberg’s first summer movie in a decade, is already being hailed as one of his best in years. But this time, Spielberg is testing whether he can conjure some of his trademark movie magic less with imagination than with conviction. ‘I’ve been a believer since I made Close Encounters 50 years ago,’ Spielberg says. ‘But I would always say: Until I’ve seen a UAP or a UFO with my own eyes, I’m not going to categorically state that life from out there has come here.

‘But I’ve changed that,’ he adds. ‘I’m now willing to change my mind because of the circumstantial evidence which is overwhelming.’

Aliens again, but different

Disclosure Day stars Josh O’Connor as a cybersecurity whistleblower with government evidence, long suppressed, chronicling a history of alien encounters. Guiding him in his escape from a corporate executive (Colin Firth) trying to keep it all under wraps is the disclosure movement’s leader (Colman Domingo). Meanwhile, a meteorologist named Margaret Fairchild (Emily Blunt) begins having a mysterious epiphany.

When he first began thinking about the movie, Spielberg called up the screenwriter David Koepp, a longtime collaborator who wrote Jurassic Park and War of the Worlds.

‘I said, ‘Sure, what’s it about?” recalls Koepp. ‘And he said, ‘Oh, you know, aliens again. But different this time.”

Spielberg was coming off an unusually long break by his breakneck standards. His 2022 film The Fabelmans pulled from his own childhood, dramatizing his parents’ painful divorce and his own origins as a filmmaker. Spielberg’s first gut-wrenchingly autobiographical movie left him unsure of what was next.

‘It was the hardest question I ever had to ask myself because there was such completion in resolving so many personal issues that I had never aired in public before The Fabelmans,’ Spielberg says.

‘I didn’t care whether people thought The Fabelmans was just a tale, a yarn, or if they cared that it was all true. I didn’t care about that. It was something I did for myself. I always used to say it was $40 million of therapy that I didn’t have to pay for. Universal did,’ he says, laughing.

But Spielberg, having long followed reports of alleged alien encounters, was inspired by the 2023 House Subcommittee on National Security hearing on UAPs: Unidentified Anomalous Phenomena. Among the witnesses was whistleblower and former Air Force intelligence officer David Grusch, who testified that the government concealed a program investigating UAPs.

The Pentagon then denied it. Yet in April, President Donald Trump said the Pentagon is preparing to release some ‘very interesting’ UFO files.

Those 2023 testimonies and others so fueled Spielberg that he produced a 50-page treatment on what would become ‘Disclosure Day.’ During the writing process with Koepp, he texted him more notes, he says, ‘than I’ve ever sent to anyone in my life.’

‘There was a period in there where I believe he re-read the script every single day for a year,’ Koepp says. ‘We’d be in different time zones and I would wake up to 30 or 35 texts from his most current reading of the script. When the leader of the project has that level of commitment, it tends to bring along everyone. You up your game.’

Extraterrestrial empathy

Spielberg has long considered his filmography split in two, between the filmmaker who made Jaws and E.T. and Raiders of the Lost Ark, and the one who, after 1985’s The Color Purple, was increasingly drawn to darker and more serious material with films, like Schindler’s List, Saving Private Ryan and Munich.

Disclosure Day is a kind of bridge between both modes of Spielberg-a thrilling chase movie filled with wonderment that’s nevertheless grounded in reality and recent history.

And its most ardent message is quite earthbound. Blunt’s character’s clarity comes from looking people in the eye. As much as it’s about aliens, Disclosure Day is about empathy.

‘I think every movie should have a great emphasis on empathy because empathy sometimes feels like it’s in short supply,’ Spielberg says. ‘We have it, sometimes we can’t use it. Sometimes it’s not allowed to be used if you want to stay aligned with your friends and your belief systems. But I think empathy is there for all of us.’

Disclosure Day opens in a much different movie world than Spielberg’s earlier alien adventures. It’s one of few big, original studio movies this summer-a moviegoing season that the Jaws filmmaker pioneered. But neither franchise domination, AI nor streaming make Spielberg fret for the future of movies.

‘The audience gives me faith in the movies,’ says Spielberg. ‘Even though the numbers are still not pre-Covid level numbers for any films being released now, it’s more robust than it has been for many years. The audience gives me belief that people still want to congregate in a dark space in the company of strangers to share an experience of a film made by storytellers. And that gives me faith to continue making films.’

Spielberg will turn 80 this December. Around the same age, Martin Scorsese began to frankly ponder how many movies he had left. Spielberg doesn’t think the same way.

‘I never think about how many more I have,’ he says. ‘I’m just hopeful that I will be inspired when something comes along, as I was with Disclosure Day, as I was with Fabelmans, as I was with West Side Story.’

More inspiration is already on the way. Spielberg hopes that his next movie will be a Western. Despite his deep fondness for the genre and an indelible encounter with John Ford, it’s one genre that’s eluded him.

‘I always feel like parts of the Raiders adventure movies are like Westerns,’ he says.

‘Whenever Harrison [Ford] was on a horse, it made me wistful for wanting to direct a full Western, a real Western.’

Margaret Fairchild in Disclosure Day has some echoes with another Spielberg protagonist: Richard Dreyfuss’ Roy Neary in Close Encounters. Both are compelled by a strange force beyond their control. It’s a character type that Spielberg, a compulsive moviemaker, grants he connects with. Disclosure Day is his 35th feature film.

‘I identify with characters who aren’t afraid of mysterious things happening to them,’ Spielberg says, ‘and who are fighting for their survival by trying to discover what they don’t know.’

Security threat at the Senate? Lacson tells Armed Services to be vigilant vs potential destabilizers

Sen. Panfilo ‘Ping’ M. Lacson on Tuesday appealed to members of the armed services to remain vigilant and discerning against unscrupulous groups that may exploit their concerns and sentiments to destabilize the government by posing as their allies.

The senator, a former National Police chief, made the call as reports swirled of intelligence indicating ‘grave threat’ to the Senate security. The Senate building, which it leases from the GSIS, has been in tension since May 11, when a Senate coup installed Alan Peter Cayetano as Senate President, replacing Sen. Vicente Sotto III. The vote was dramatic because fugitive Sen. Ronald ‘Bato’ dela Rosa, in hiding since November from an arrest warrant by the Intenational Criminal Court (ICC), showed up to cast the swing vote for Cayetano. The NBI tried but failed to arrest him, as Cayetano et al placed him on so-called ‘protective custody.’

On May 13, however, shooting broke out and Cayetano cried out on FB live, ‘The Senate is under attack!’ even though it was learnmed that the Sergeant at Arms, Mao Aplasca, had fired the first shots at apparent NBI men on the other side of a connecting door to the GSIS.

A few hours after the shooting, at dawn of May 14, Dela Rosa escaped from the Senate building and remains missing.

A subsequent attempt by the Cayetano majority to change Senate rules to allow online voting – apparently to favor dela Rosa – sparked a walkout by Sotto’s allies.

The next session day, tension again reigned when the CIDG came to arrest Sen. Jinggoy Estrada, for plunder in the flood-fund scandal, and Cayetano refused to convene the session. The Cayetano majority boycott entered its third day on June 3, when the Senate was scheduled to adjourn sine die until July 28, forcing the Sotto group to convene the session-this time as a majority of 12 senators, joined by Sen. Chiz Escudero.

The Sotto camp then declared all positions vacant and installed Sherwin Gatchalian as Senate President Pro Tempore and Acting Senate President.

Tensions flared anew when the Cayetano bloc, refusing to acknowledge defeat, insisted on holding a Blue Ribbon hearing led by Sen. Rodante Marcoleta, who invited 18 ex-soldiers who were bodyguards/aides of former Rep. Zaldy Co to ‘testify’ on alleged ‘maletas full of cash they delivered to notable politicians.

Lacson said he is not discounting the possibility that 18 ex-soldiers who were brought into the Senate on Monday could be used as part of a broader effort to sow chaos and trigger destabilization.

‘This is a call to our Armed Forces of the Philippines and Philippine National Police to be discerning. Unscrupulous, power-hungry groups and destabilizers are out to take advantage of the confusion or the situation, and may seek to mislead some of our uniformed personnel,’ he said in English and Filipino in a radio interview.

‘I am not saying our uniformed services are unprofessional. But in the middle of confusion, they may mistake unscrupulous groups for their allies,’ he added.

Earlier, Lacson warned that growing frustration within the armed services could pose a risk if it is exploited by unscrupulous and power-hungry destabilizers exploiting national concerns such as the flood control anomalies, inflation and fuel price hikes.

Lacson also noted the 18 ex-soldiers, who initially claimed to deliver suitcases of cash from flood control project kickbacks to certain personalities, wore fatigue uniforms when they entered the Senate Monday.

He cited intelligence information shared by National Bureau of Investigation Director Melvin Matibag that the 18 could be used to generate support from members of the uniformed services, especially since there are anti-government protesters holding rallies daily outside the Senate.

‘For example, the 18 would appear and be cited in contempt and ordered arrested. It is possible that armed elements not from the uniformed services could create confusion and sow chaos – including a possible shooting. You can just imagine the chaos and anarchy, and this can trigger a destabilizing event,’ he said.

For now, he said the 18 could not generate sympathy from the armed forces, especially the Marines, because at least 12 of them were dishonorably discharged. He noted retired Marine Col. Ariel Querubin had virtually disowned them because they considered them a disgrace.

Lacson said such a potential threat prompted Senate President Pro Tempore and acting Senate President Sherwin Gatchalian to place the Senate security under heightened alert, restricting the entry and exit of senators and barring visitors.

Senate employees will work from home on Wednesday, an indication that the ‘threats’ were being taken seriously.

PSC backs Alas amid AVC grind

‘There is a time for commercial volleyball and there is a time for the national team. When it comes to Alas Pilipinas, we should always be united,’ Gregorio said. ‘Wearing the Philippine jersey is the best gift you can give yourself and the nation.’

‘Nothing compares to the national team, no commercial league is bigger than the national team. So please, with all your heart, we trust you, we know you can do it, I’m here to motivate you…to help you embrace the plan we have for Philippine volleyball.’

It was not until recently that a national pool was formed for the AVC Women’s Cup. And just before the AVC Women’s Cup opener, the PNVF was suspended by the FIVB over governance concerns and alleged violation of its code of ethics. Over the weekend, nine board members announced their withdrawal of support for its president Tony Boy Liao.

Alas Pilipinas, meanwhile, will continue to compete with the support of the PSC.

‘We want all of you to stay focused. Forget about the politics in your federation,’ Gregorio said.

Chinese Taipei and Korea are unbeaten in three matches, as Alas Pilipinas at 2-2 scrambles to catch up.

The top two from each pool advance to the round of four, with Kazakhstan and titleholder Vietnam having the inside track in Pool B of the event presented by the PSC and the City of Candon.

Slim chances for Alas

South Korea and Chinese Taipei continued their rampage, while Alas Pilipinas took another hit in its bid to advance to the knockout round.

The Koreans overpowered the Philippines, 25-16, 25-18, 25-22, yet to drop a set in three matches in Pool A preliminaries.

Chinese Taipei also scored its third win in as many matches, routing Uzbekistan, 25-17, 25-13, 25-19.

That put them 1-2 on the Pool A standings, with the Philippines third with two wins and two losses.

Australia, which dealt Alas Pilipinas its first loss, looks to improve its 1-1 record when it takes on winless Kyrgyzstan.

As the tournament takes a break on Wednesday, Alas Pilipinas gears up for the match against Chinese-Taipei, needing a convincing win even as its semifinal hopes now also hinge on the results of Korea and Australia.

Valdez said the team will fight to the end.

‘We will give our best. We have learned a lot and we will face the fight with all our heart,’ Valdez said.

Against Korea, the Philippines managed to pull off some impressive plays but was unable to put together a sustained run and mount pressure.

No Filipina scored in double digits, with Thea Gagate registering nine points on five attacks, three blocks and a service ace.

Nina Ytang had eight points on seven attacks and a block, while skipper Alyssa Valdez and Alyssa Solomon had seven points each.

Sohwi Kang led Korea with 19 points, 15 coming on attacks, three from the service line and one block.

Juah Lee tallied five of Korea’s seven blocks, finishing with 12 points, while Hyunsoo Na also scored 12, with 10 from attacks and two aces.

Iran earlier beat Lebanon, 25-9, 25-8, 25-15, for a 1-2 record in Pool B. Lebanon is winless in three matches.

Meralco issues Notice of Annual Meeting of Stockholders

NOTICE IS HEREBY GIVEN that the Annual Meeting of Stockholders of Meralco will be conducted at the Meralco Theater, Lopez Building, Ortigas Ave., Barangay Ugong, Pasig City and via https://company.meralco.com.ph/corporate-governance/voting-in-absentia on Tuesday, June 30, 2026, at 10:00 a.m. with the following agenda:

Call to Order

Certification of Notice and Quorum

Approval of the Minutes of the Annual Stockholders’ Meeting held on May 27, 2025

Report of the Chief Executive Officer

Approval of the 2025 Audited Consolidated Financial Statements

Ratification of Acts of the Board and Management

Election of Directors for the ensuing year

Appointment of External Auditors

Other business that may properly be brought before the meeting

Adjournment

The Board has fixed the close of business on April 10, 2026 as the record date for the determination of stockholders entitled to notice of, and to vote at, the meeting. The stock and transfer books of Meralco will not be closed.

Nominations for regular and independent directors to the Company shall be filed with the Office of the Corporate Secretary c/o Corporate Governance and Compliance Office, Ground Floor, Lopez Bldg., Meralco Center, Ortigas Avenue, Brgy. Ugong, Pasig City. The deadline for submission of nominations shall also be on April 10, 2026.

In accordance with Article I, Section 3 of the Company’s Amended By-Laws, any instrument authorizing a proxy to act shall be submitted to and received at the principal office of Meralco on or before June 2, 2026, 5:00 p.m.,addressed to the attention of the Corporate Secretary c/o Corporate Governance and Compliance Office at the address indicated above. Soft copies of the proxies can be emailed in advance to stockholder.affairs@meralco.com.ph. Validation of proxies is set on June 16, 2026, 10:00 a.m. at Meralco Compound, Ortigas Avenue, Brgy. Ugong, Pasig City.

The conduct of the annual stockholders’ meeting will also be streamed live, and stockholders may attend and participate via remote communication and vote in absentia, using the online portal https://company.meralco.com.ph/corporate-governance/voting-in-absentia. The guidelines for online voting and participation is set forth in Annex ‘C’ of the Definitive Information Statement (‘Definitive 20-IS’) downloadable at the Company’s and Philippine Stock Exchange EDGE’s respective websites.

The Company provided stockholders as of record date with a QR Code on May 28, 2026, enabling them to view and download the Definitive 20-IS. On June 1, 2026, the Company submitted an Amended Definitive Information Statement (‘Amended Definitive 20-IS’) which was approved by the Securities and Exchange Commission on June 2, 2026. The Amended Definitive 20-IS containing the Proxy Form, and the 2025 Management Report may be viewed and downloaded by scanning the QR Code below:

The Amended Definitive 20-IS, Proxy Form, 2025 Management Report/Annual Report for the year ended December 31, 2025 in SEC Form 17-A, Quarterly Report for the first quarter of 2026 in SEC Form 17-Q and other pertinent documents may also be downloaded, without charge from the Company’s and the Philippine Stock Exchange EDGE’s respective websites.

More Pinoys unemployed, underemployed in April – PSA

More Filipinos were jobless and seeking additional work or longer working hours in April, according to data released by the Philippine Statistics Authority (PSA).

On Tuesday, the PSA estimated 2.41 million unemployed Filipinos in April 2026, higher than the 2.06 million recorded in the same month last year but lower than the 2.96 million posted in January 2026.

This translated to an unemployment rate of 4.7 percent, up from 4.1 percent in April 2025 but lower than the 5.8 percent recorded in January 2026.

Meanwhile, some 7.41 million employed Filipinos were underemployed, or those who expressed the desire to have additional hours of work, another job, or a new job with longer working hours.

The number of underemployed workers increased from 7.09 million in April 2025 and 6.35 million in January 2026.

As a result, the underemployment rate rose to 15.2 percent in April 2026 from 14.6 percent a year earlier and 13.2 percent in January 2026.

Despite this, the country recorded 48.89 million employed Filipinos in April 2026, slightly higher than the 48.67 million recorded in April 2025 47.94 million in January 2026.

The employment rate stood at 95.3 percent, lower than the 95.9 percent posted in April 2025 but higher than the 94.2 percent in January 2026.

The country’s labor force reached 51.30 million Filipinos aged 15 years and over in April 2026, up from 50.74 million in April 2025 and 50.89 million in January 2026.

This translated to a labor force participation rate (LFPR) of 62.7 percent, lower than the 63.7 percent a year earlier but higher than the 62.3 percent in January 2026.

McLaren at a Thousand

On McLaren’s 1000th Grand Prix weekend, an easygoing Monaco paddock reception-open bar, circulating hors d’oeuvres and a perfectly stacked pile of hardcovers-became an unexpectedly intimate encounter with history as Andrea Stella stood in the middle of the room talking, smiling, and signing my copy of McLaren’s commemorative book.

The books were the only things standing still.

When I stepped into McLaren’s Monaco paddock that afternoon, there was no crush at the door, no bottleneck of bodies to push through-just the low hum of conversation and the faint clink of glassware from upstairs. The air had that late-day harbour humidity that makes paper feel a fraction softer. McLaren had just reached its 1000th Formula 1 World Championship start on these streets, a little over six decades after Bruce McLaren first entered a car here under his own name. Off to one side, on a low table by the wall, a stack of matte-black hardcovers sat perfectly aligned, metallic papaya numerals catching a strip of corridor light each time the door opened. They looked less like giveaways and more like a discreet installation: McLaren’s first thousand grands prix distilled into a block of paper and design.

Lando Norris was standing beside them.

He wasn’t hemmed in by cameras or picking his way around cables-just quietly posted near the books as he waited for a paddock walk-and-talk. A comms minder hovered at a polite distance; otherwise the space around him was clear. Lando in papaya kit, the books in black and orange: present and past sharing a strip of carpet. For a moment, before anyone called him away, the current McLaren era stood within arm’s reach of its own curated history.

I crossed to the table and picked up a copy.

The first impression was physical. The book settled into my hands with the kind of weight that says this isn’t something you toss into a backpack and forget. The dust jacket still smelled faintly of ink and glue, that new-book chemical tang that never makes it into TV shots. The cover stock was a deep, almost architectural black; the giant ‘1000’ stamped in metallic papaya looked like a digital display frozen mid-tick. Even before I opened it, the object announced its intentions. This wasn’t a flimsy commemorative brochure. It was built for coffee tables and desks, for the kind of office where motorsport doubles as interior design.

I’ve come to McLaren’s story the long way around.

I started following Formula 1 in the early 1990s, when Sunday races meant grainy TV pictures and commentary lines that sometimes crackled more than they carried. My memory of those seasons is half real and half taped-over VHS, so the order of some podiums lives in my head slightly wrong on purpose. Back then, McLaren existed for me as a red-and-white blur in the braking zone, a surname shouted over engine noise, a timing graphic that updated too slowly. Those seasons hard-wired the McLaren name into my idea of what F1 should feel like-slightly distant, slightly unreal, completely magnetic.

Three decades later, standing in a Monaco paddock with this heavy book in my hands and the team principal a staircase away, that distance suddenly felt negotiable.

Open the cover, and the first voice you meet is Zak Brown’s.

His foreword reads like a cross between a team address and a shareholder letter, delivered with one eye on the timing screens and the other on a long rear-view mirror. He plants their 1000th Grand Prix firmly in Monaco, on the same streets where Bruce first lined up a car under his own name. He stresses how rare the figure is, then pivots from numbers to people-Bruce and the early believers, the drivers and engineers who steered the team through successive eras, the fans who learned what McLaren meant long before streaming packages and docuseries turned the paddock into a storyline factory.

Soon, he pulls the lens forward. The papaya era is framed not as a rebrand but as the next chapter in a story that has sprawled from single-seater garages to IndyCar pit lanes and endurance paddocks. The Triple Crown reappears as live ambition rather than a romantic throwback. The message is clear: this book isn’t a museum plaque; these thousand grands prix are a midpoint, not a finish line.

I tuck the book under my arm and head upstairs.

At the top of the stairs, McLaren’s hospitality opens into clean lines and a filtered view of the harbour. It’s that Monaco kind of working afternoon where nobody refuses a refill. The bar runs at a steady rhythm, bartenders moving with pit-stop economy as they replenish champagne flutes and long drinks. Trays of hors d’oeuvres loop through the room: canapés you can eat without losing the thread of conversation.

Andrea Stella stands in the middle of the room.

He isn’t tucked away at a branded table or staged beneath a logo wall. He occupies the natural centre of gravity, where paths from the bar, the stairs and the balcony converge. People drift toward him and away again in loose orbits: partners, media, McLaren staff, the odd colleague from another team’s hospitality who has slipped in on the tide of curiosity and champagne.

His body language is familiar now: shoulders slightly forward, eyes engaged, the attentive manner of an engineer who happens to carry the title of team principal. He listens more than he talks, answers without rushing, and makes even small talk feel anchored to something more substantial. In a paddock that often rewards theatre, his understatement reads as its own kind of authority.

At some point, the books follow us upstairs.

You can tell by the way the tables change. One appears, then several. Some lie closed, their covers catching reflections from the overhead lighting; others are already open, pages splayed between drinks and phones. There’s no announcement. The volume simply seeps into the room until it becomes part of the landscape.

The signing begins the way most real things in paddocks begin: quietly.

Someone near Andrea opens their copy to the front page and offers it across. He takes it, asks for the name, repeats it once to lock in the spelling, then lowers his gaze to the paper. Another book follows, then another. There’s no formal queue, just a gentle tide of people timing their approach between conversations and refills.

Names are fragile things here.

They get shortened, misheard, misspelled; they’re pushed through accreditation systems and media lists until they resemble usernames more than identities. When my turn comes, I place the book in his hands with the same small, involuntary tension I feel when a byline goes into production-the hope that the thing you’ve carried around will come back intact.

Andrea already has it right.

He says my name back once, correctly. The inside cover flips open to a black-and-white graphic field: fractured blocks and numerals that look like telemetry abstracted into design. Beyond it, the flyleaf waits clean and white. He writes my name, adds a short line above his signature, then draws his pen diagonally across the lower half of the page in a stroke that is confident without being theatrical.

It takes seconds, but it changes the way the book feels in my hands.

Up to that point, it has been a beautifully produced corporate artefact-conceived in meetings, designed on screens, argued over in edits. With one inscription, it becomes a record of a specific Monaco afternoon: Lando standing quietly beside the stack downstairs; Zak’s foreword anchoring the opening pages; Andrea in the middle of the room upstairs, talking, listening, pausing often enough to turn other people’s names into part of McLaren’s thousand-race ledger. By page thirty, I’ve already bent one corner of the dust jacket trying to flip back to Donington without losing my place.

Only then do I start properly reading.

One of the early pivots comes in a blunt title: ‘The Drives of Our Life.’ With 1000 grands prix, no book can be complete, so this one picks a canon of races that define how McLaren thinks of itself. For a fan who came online in the early ’90s, the list reads as if someone has reached into your own neural archive and laid it out on coated stock.

The opening entries run decades ahead of my memory.

A spread on the 1968 Belgian Grand Prix-Bruce McLaren’s first Formula 1 win for his own team-shows a papaya car threading between stone houses and ditches on the old Spa layout, billed as ‘the win that sparked a revolution’. Early-era images from Monaco and beyond function as pre-history: scenes I first knew from grainy footage and stills, now given the same scale as the races that framed my adolescence.

Then my own era starts to arrive.

The 1986 Australian Grand Prix in Adelaide, ‘The Professor doubles up’, and the 1988 Japanese Grand Prix at Suzuka, ‘Battling through to the top of the world’, form a diptych: Alain Prost in controlled celebration on one side, Ayrton Senna drenched in champagne on the other. I didn’t see those live, but through season reviews and highlight packages, they became the wallpaper of my early fandom, the backdrop against which I learned the Senna-Prost civil war. Seeing them here, printed large and anchored by tight text, feels like having the VHS footage carefully restored.

The 1991 Brazilian Grand Prix spread lands closer to the bone.

‘The pain and the passion of Ayrton Senna’ arches over a podium shot that has long since fossilised into one of F1’s defining myths: Senna on home soil, arms barely able to hold the trophy after wrestling a wounded car to the flag. By the time that race reached me through delayed broadcasts and documentaries, it already felt like scripture. On the page, the book simply states the facts and lets the photograph carry the rest.

Then comes the 1993 European Grand Prix at Donington-‘The lap of the gods’.

If you started watching F1 in the early ’90s, that lap is one of the crucibles. The image shows a white-and-red McLaren carving through spray and backmarkers, the copy describing a first lap that reads more like choreography than racing. In memory, that race is a jumble of commentary, timing graphics, and bad VHS tracking. On the page, the chaos collapses into a single narrative of weather, tyre choices, opportunism, and control.

The Hamilton era is treated as its own axis.

A spread on the 2008 British Grand Prix-‘Lewis Hamilton’s first home run’-pairs a shot of him on the Silverstone podium with text framing his wet-weather domination as the moment he stopped being a prospect and became an inevitability. A few pages later, the 2011 Canadian Grand Prix appears under ‘Storming through the deluge’, Jenson Button’s four-hour odyssey recast as one of the team’s most improbable wins. Together, those races mark the point where McLaren, in my mind, stops being only the team of Senna and Prost and becomes the outfit that carries Hamilton through his first major transformation.

The book doesn’t skim the recent past.

The 2021 Italian Grand Prix at Monza is there as ‘The Honey Badger’s Monza masterclass’, a reminder of how long the team had waited to climb back onto the top step. The 2024 Azerbaijan Grand Prix appears as ‘Oscar’s risk and reward win’, confetti and papaya suit capturing the moment a younger driver seized his own line in McLaren’s narrative. And then, inevitably, the 2025 British Grand Prix: ‘Lando the home hero’. The photograph shows Norris at Silverstone, arm raised before a blurred crowd, helmet still on, papaya glowing against a British sky. It loops directly back to the paddock entrance where this book first entered my day-Lando standing quietly beside the stack, waiting to walk outside into yet another round of questions.

Threaded between these race spreads are the faces that carried them.

Later, the driver portraits and indexes turn the book into a visual census. James Hunt and Emerson Fittipaldi share one spread; elsewhere, Jochen Mass and Gilles Villeneuve line up opposite one another in a grid of headshots laid out like a contact sheet. Further on, Patrick Tambay and John Watson sit alongside Niki Lauda and Keke Rosberg; Alain Prost is flanked by Andrea de Cesaris and Stefan Johansson. Another page collects Gerhard Berger, Michael Andretti, Philippe Alliot, Mark Blundell, Mika Häkkinen, Martin Brundle, Nigel Mansell and Jan Magnussen in the same neat layout. Champions and journeymen, long-term linchpins and short-term stand-ins all get equal visual weight.

For someone whose mental paddock was first populated by Häkkinen and Senna and later by Hamilton and Norris, it’s quietly bracing to see them rendered as just more tiles in a grid. The book doesn’t downplay their importance; it simply insists that McLaren’s thousand races are a crowded frame.

When the narrative pauses, the numbers take over.

‘McLaren by Numbers’ pulls the camera back to raw data: wins, poles, podiums, laps led, years in the sport, all arranged against monochrome photography of early cars. Beyond that, dense black pages list every race by year, circuit and result-from the early ’70s through the turbo years, the V10 ’90s, the hybrid present-typeset in columns that look like timing sheets formalised into history. It’s the part of the book that feels closest to an internal team document, something you’d expect to live on a server, not on a side table at an open bar.

Near the back, the chapter headings become blunt: ‘Grand Prix #1000’, ‘Legacy: The Road to 1000’. The black pages and big white type feel like slate markers between acts. One section, ‘Return of a Legend’, pairs archival shots of an early McLaren running at Monaco with text about bringing that car back for this thousandth-race weekend-a full-circle gesture that turns the principality’s streets into both setting and exhibit.

All the while, the afternoon ticks on around you.

Behind the talk, the bar keeps its discreet pace, drinks appearing and disappearing in a blur of glass and ice. Trays arc across the room. FIA staff pass through, pausing to glance at spreads before heading back to work. Media colleagues toggle between gossip and close reading, pointing out favourite photographs, reverse-engineering layouts, and guessing how long this book took to clear approvals.

At the centre, Andrea keeps doing three things at once.

He listens. He answers. He signs. Books appear in his hands and leave again; names are confirmed, written, returned. The signing never hardens into a formal line. It slips in and out of the room the way strategy talk slips in and out of paddock conversations-always there, never quite the main event. Each time the pen touches paper, though, the room seems to slow by half a beat, a tiny act of resistance against a sport that is always dragging everyone on to the next run plan, the next upgrade.

Eventually, the reception just evaporates.

The trays stop circulating, the bar winds down, and conversations dissolve into a few last pockets of small talk before even those disappear. By the time I look up from the final pages, the room has thinned to staff quietly resetting tables and clearing glasses. Someone has left a half-finished espresso by the bar, already filming a brown ring on the white saucer. Somewhere near the back, in tiny type on black paper, the Monaco race I’ve just covered is already listed by number, circuit, result-a single line in a long column. On the flyleaf at the front, my name sits in full, written in Andrea Stella’s hand. Between those two points, the book covers six decades of McLaren. Standing in hospitality with that weight under my arm, I have the odd, slightly embarrassing feeling that I’ve managed to squeeze myself into the margin between the statistics and the story.

When I finally step back out through the paddock doors, the low table where the stack of books sat is empty and the corridor is almost silent. Lando is long gone to his next obligation; the afternoon has slipped toward evening without me really noticing. Back in the early ’90s, McLaren was a logo on a TV car and a distant noise in another time zone. On this Monaco day, it is also something else: a thousand-race time capsule, a signed page, a reminder that even in a sport defined by motion, some moments are meant to be held onto.

Ombudsman dismisses complaints vs. Recto, ex-PhilHealth chief over ?60-B fund transfer

The Office of the Ombudsman has dismissed the criminal and administrative complaints filed by the Save the Philippines Coalition (SPC) against Executive Secretary Ralph G. Recto and former PhilHealth president and chief executive officer Emmanuel R. Ledesma Jr. over the transfer of ?60 billion in PhilHealth excess funds to the National Treasury.

In a 40-page resolution issued by the Ombudsman’s Special Panel of Investigations and approved by Ombudsman Jesus Crispin Remulla, the anti-graft body dismissed the complaints for lack of prima facie evidence and insufficiency of evidence to support criminal and administrative liability.

The SPC had sought the prosecution of Recto and Ledesma for technical malversation, plunder, graft and grave misconduct.

The complaint stemmed from the transfer of ?60 billion from PhilHealth’s excess funds to the National Treasury in 2024, when Recto was serving as finance secretary.

The remittance was made pursuant to Special Provision No. 1(d) of the 2024 General Appropriations Act and Department of Finance Circular No. 003-2024.

The DOF circular directed government-owned and controlled corporations to remit unused subsidies and excess reserve funds to the National Treasury to help finance the government’s unprogrammed appropriations.

The complainants argued that the transfer violated Republic Act No. 11223, or the Universal Health Care Act, which mandates the preservation and safekeeping of PhilHealth funds.

However, the Ombudsman ruled that the actions of Recto and Ledesma were undertaken in implementation of a legal provision that remained valid and enforceable at the time.

The anti-graft body noted that Special Provision No. 1(d) was declared unconstitutional by the Supreme Court only later, in a ruling issued on Dec. 6.

‘In sum, the peculiar circumstances of this case compel this Office to dismiss the criminal charges for technical malversation primarily on the failure of complainants to establish with moral certainty the respondents’ intent to perpetrate the offense,’ the resolution stated.

The Ombudsman likewise dismissed the graft charges, emphasizing that a mere violation of a law does not automatically constitute evident bad faith under Section 3(e) of Republic Act No. 3019, or the Anti-Graft and Corrupt Practices Act.

It said the law requires proof of corrupt motive, deliberate wrongdoing or intent to cause injury to the government.

‘The actions of respondents in this case were actually aligned and done in faithful exercise of their respective official duties as DOF secretary and PhilHealth president/CEO, respectively, in the implementation of Special Provision 1(d),’ the resolution said.

The Ombudsman also rejected the plunder allegations.

It noted that plunder requires proof that public officials amassed at least ?50 million through illegal means for personal enrichment.

The anti-graft body pointed out that the ?60 billion transferred to the National Treasury had already been returned to PhilHealth pursuant to the Supreme Court ruling.

‘Thus, the return of ?60 billion to PhilHealth militates against the allegation that respondents took advantage of their positions for personal enrichment,’ the resolution stated.

Cautiousness marks bank lending to MSMEs

LATEST data released by the Bangko Sentral ng Pilipinas (BSP) showed that while loans extended by banks to micro-sized, small-scale and medium-sized enterprises (MSMEs) posted growth in the first quarter, it remained flat, reflecting cautiousness by the lenders and borrowers.

Based on the data from the central bank, loans made available to MSMEs climbed to P574.8 billion as of end-March, up 5.12 percent from the P546.82 billion recorded in the same period last year.

The same amount was made available to small merchants in the previous quarter or in the last quarter of 2025, at P574.8 billion.

The industry’s total loan books jumped by 2.71 percent to P12.14 trillion as of end-March 2026 from P11.82 trillion in the same period last year.

Out of the loan portfolio extended by all banks, the percentage compliance by banks to MSMEs grew to 4.73 percent as of end-March 2026, from the 4.63 percent compliance in the same quarter a year ago.

Still, this is less than half the 10 percent required by the law.

Under the Magna Carta for MSMEs, all lending institutions, whether public or private, are required to set aside at least 8 percent for micro and small enterprises and at least 2 percent for medium enterprises of their total loan portfolio.

Broken down, data showed that loans extended to micro and small enterprises only amounted to P238.45 billion as of end-March. This is equivalent to only 1.96 percent of the industry’s loan books, way below the 8 percent required by the law to be earmarked for micro and small merchants.

For medium enterprises, banks were able to extend P336.35 billion. This is equivalent to 2.77 percent of the industry’s loan books, above the 2 percent required by the law for medium-sized businesses.

Ateneo De Manila University Professor of Economics Leonardo A. Lanzona Jr. said that despite economic recovery and expanding loan portfolios, banks continue to allocate less than half of the legally-intended share of credit to the MSME sector.

‘This suggests that banks still perceive MSMEs as relatively risky borrowers and that alternative lending channels, rather than traditional bank financing, may be increasingly serving the sector,’ Lanzona told the BusinessMirror. ‘Unless incentives are provided by the government this situation is unlikely to change.’

Jonathan L. Ravelas, senior adviser at Reyes Tacandong and Co. noted that while MSME lending is still growing, ‘the pace is clearly easing.’

‘That reflects a more cautious environment on both sides,’ Ravelas said.

He noted that higher borrowing costs, tighter bank risk assessments and more conservative MSMEs are all contributing to this slowdown.

Ravelas added that the flat quarter-on-quarter numbers indicate that both lenders and borrowers are in a ‘wait-and-see’ mode, looking for clearer signals on rates and demand.

Moving forward, he said there is a need to ‘unlock’ lending through better risk-sharing mechanisms, stronger credit data, and more incentives for banks to support the sector.

‘But the bigger message is this: MSMEs should not just focus on survival. They need to pivot, adapt, and repurpose their business models to fit the new economic landscape,’ Ravelas said.

‘In today’s environment, adaptability, not just access to credit, is what will drive sustainable growth,’ he added.

More Pinoys unemployed, underemployed in April – PSA

More Filipinos were jobless and seeking additional work or longer working hours in April, according to data released by the Philippine Statistics Authority (PSA).

On Tuesday, the PSA estimated 2.41 million unemployed Filipinos in April 2026, higher than the 2.06 million recorded in the same month last year but lower than the 2.96 million posted in January 2026.

This translated to an unemployment rate of 4.7 percent, up from 4.1 percent in April 2025 but lower than the 5.8 percent recorded in January 2026.

Meanwhile, some 7.41 million employed Filipinos were underemployed, or those who expressed the desire to have additional hours of work, another job, or a new job with longer working hours.

The number of underemployed workers increased from 7.09 million in April 2025 and 6.35 million in January 2026.

As a result, the underemployment rate rose to 15.2 percent in April 2026 from 14.6 percent a year earlier and 13.2 percent in January 2026.

Despite this, the country recorded 48.89 million employed Filipinos in April 2026, slightly higher than the 48.67 million recorded in April 2025 47.94 million in January 2026.

The employment rate stood at 95.3 percent, lower than the 95.9 percent posted in April 2025 but higher than the 94.2 percent in January 2026.

The country’s labor force reached 51.30 million Filipinos aged 15 years and over in April 2026, up from 50.74 million in April 2025 and 50.89 million in January 2026.

This translated to a labor force participation rate (LFPR) of 62.7 percent, lower than the 63.7 percent a year earlier but higher than the 62.3 percent in January 2026.