Category: Business Mirror

Roger Federer is actually nervous about his tennis.

The man who won five straight US Open championships during the height of his dominance of the sport is set to play again in Arthur Ashe Stadium on Tuesday night for the first time since 2019.

And he’s not quite sure how the game that perhaps nobody ever made look more elegant will appear now. ‘I haven’t played a singles set in, I don’t know, [Hubert] Hurkacz at Wimbledon maybe, so it’s been five years,’ Federer said Monday, referring to his 2021 quarterfinal loss in his last Grand Slam match. ‘I don’t know how it’s going to go tomorrow. So there is a lot of uncertainty but a lot of happiness that I can return to Arthur Ashe, a place where I have had so many beautiful moments.’

It’s only one set of singles in an exhibition against Andy Roddick and one set of doubles with John McEnroe against Roddick and Andre Agassi.

The winner of 20 Grand Slam singles titles should be fine for those.

But a return to tennis beyond that, competing in major tennis tournaments in his mid-40s like Venus and Serena Williams?

‘No, no, no, no. No, not at all,’ Federer said during a news conference. ‘Thanks for asking. I wasn’t sure if the question was going to get asked, but I’m happy you did so I can clarify in case anybody thought.’

At 45, Federer still looks fit, and said he enjoys working out in the gym. But he said he goes through long stretches where he is rarely on the court.

His lengthy absence from the US Open has done little to dampen his popularity, based on the amount of people around the grounds who were mentioning his name. The appearance of ‘Roger Federer’ up on the big board for all to see again, ahead of his afternoon practice on Ashe, where Federer collected the trophy every year from 2004-08, was a welcome sight for his fans.

The trip to New York is a stop for Federer on his way to Newport, Rhode Island, where he will be enshrined in the International Tennis Hall of Fame on Saturday.

Federer never really had the chance to say goodbye to New York as a player, because there was no way to know his loss to Grigor Dimitrov in the 2019 quarterfinals would be his last match. He had reached the French Open semifinals and the Wimbledon final earlier that year, falling to Rafael Nadal in Paris and then Novak Djokovic in a fifth-set tiebreaker at the All England Club.

It was easy to imagine him returning to the US Open the next year and making another deep run. But after falling to Djokovic in the semifinals of the Australian Open to begin 2020, he had knee surgery that February, then another procedure in May.

He returned to play in the French Open in 2021 but had to withdraw before his fourth-round match. After the loss to Hurkacz-where he appeared struggling and lost 6-0 in the third set-Federer had another knee surgery that August and knew there would be no more comebacks.

‘The knee can’t do it anymore. It’s tired,’ he recalled thinking. ‘The mind can’t be patient even more and wait for another couple years and see what happens.’

Federer knows Tuesday night won’t be real tennis, joking that he and Roddick hopefully would be respectful and not try to drop shot each other. But it will be different from when he did return to Ashe a couple of years back to watch.

‘They gave me an ovation because they saw me on the big screen, but I just feel, like, tomorrow and I guess today, as well, and Monday next week, it really gives me a true opportunity to say thank you and goodbye, which I think is important for some,’ Federer said. ‘It’s a nice thing to do, for sure.’

The Department of Trade and Industry (DTI) in partnership with the Department of Labor and Employment (Dole), recently trained Persons Deprived of Liberty (PDLs) at the Santa Rosa City Jail Male Dormitory in Laguna in developing market-ready products and preparing for sustainable livelihoods upon their release.

For individuals preparing to rejoin society, practical entrepreneurship skills offer a crucial pathway toward rebuilding their lives and achieving economic self-reliance. To support this transition, the agency conducted the ‘Capability-building for Sining Malaya’ seminar on August 6, 2026 at the Bureau of Jail Management and Penology facility.

The training focused on essential business concepts, including product promotion, branding, packaging, labeling and market development.

During the hands-on session, participants put their knowledge into practice by creating a brand identity for handcrafted bags made from recycled and repurposed materials. The participants named the line ‘The Dignity Bag,’ applying proper branding and presentation techniques to position the item for potential commercial buyers.

DTI guided the participants through the fundamentals of packaging and labeling. She emphasized how clear product information and professional presentation build consumer trust and boost market competitiveness, while also sharing practical marketing strategies tailored for micro-entrepreneurs.

Complementing the technical training, the Regional Tripartite Wages and Productivity Board (RTWPB) introduced the ISTIV Bayanihan Program. Rivera highlighted core values-industry, hard work (sipag), perseverance (tiyaga), integrity and value for work-as essential foundations for successful entrepreneurship and personal rehabilitation.

Through initiatives like Sining Malaya, DTI continues to empower PDLs with actionable business skills, equipping them to transform craftsmanship into viable income opportunities as they prepare for a fresh start in their communities.

THE Philippine Red Cross (PRC) has deployed medical and support personnel to San Lazaro Hospital to help the facility cope with a surge in leptospirosis cases.

The PRC sent 17 medical and support personnel after the hospital reported 139 leptospirosis patients as of 8 a.m.

The team includes six nurses, six student nurses, three administrative support volunteers and two staff members from the PRC Medical Corps Volunteers-Nursing Team.

They will assist hospital personnel in monitoring patients’ vital signs and fluid intake and output, as well as facilitate required laboratory tests.

PRC Chairman Richard J. Gordon said the organization is prepared to provide additional manpower to hospitals experiencing sudden increases in patient volume.

‘Kapag dumami ang pasyente, kailangang dumami rin ang tumutulong. We are sending our trained nurses and volunteers to San Lazaro Hospital to help its healthcare workers manage the surge and ensure that patients continue to receive the attention they need,’ Gordon said.

PRC Secretary General Gwen Pang said the deployment reflects the organization’s role in supporting the healthcare system during emergencies and periods of increased demand.

The PRC said it will continue monitoring the situation and coordinating with San Lazaro Hospital should additional personnel or other support be needed as the leptospirosis surge continues.

RJ Luis Jr., a former St. John’s standout who recently signed with LSU after spending time with two NBA clubs, was cleared by a court Monday evening to start practicing and potentially play for the Tigers this season.

Luis, who briefly was under contract with the Utah Jazz and Boston Celtics but never played in an NBA game, hugged LSU coach Will Wade after the ruling by East Baton Rouge Parish District Court judge Ronald R. Johnson.

After a five-hour hearing, Johnson granted the player’s request for a preliminary injunction against the NCAA, which had argued Luis was unlikely to win reinstatement after leaving college to turn pro in 2025. ‘This is precedent. It’s monumental,’ said Baton Rouge-based attorney Tony Clayton, who represented Luis along with Elliot Abrams of Raleigh, North Carolina. ‘This allows him to go practice, go play and we’ll let the legal process work itself out.’

The timeline for that process was not immediately clear.

‘I don’t know, but there’s a lot of discovery that Elliot and I have to obtain,’ Clayton said. ‘We’ve got a lot of questions.’

Luis’ attorneys noted that the NCAA had granted exceptions allowing numerous players from overseas professional leagues to join college basketball programs, and argued that American players must be afforded the same opportunity.

They stressed that Luis not only had never played in an NBA game, but also had not played for the Celtics’ G League affiliate because of an injury, and had far less of a professional basketball resume than numerous college players who’d been recruited from abroad.

NCAA attorney Taylor Askew argued that Luis’ situation was not comparable to those who played for the developmental squads of pro organizations overseas because Luis chose to leave college for the NBA.

Askew noted that the only player in a similar situation to Luis was Alabama’s Charles Bediako, who won a temporary retraining order allowing him to play five games for Alabama last season before an Alabama judge ultimately sided with NCAA assertions that he was ineligible.

‘I understand Mr. Luis is disappointed that he was not drafted and did not play in the NBA as much as he would have liked,’ Askew said. ‘Actions have consequences. Decisions have outcomes and they’re not always the right ones or the ones that you want.’

As he made his ruling, Johnson said, ‘In the court’s mind, (Luis) did not actually play professional basketball,’ and that whether Luis was properly advised of his options at the time he left college ‘lingers heavily before this court.’

THE National Grid Corporation of the Philippines (NGCP) on Tuesday placed the Visayas power grid on red alert from 5:00 p.m. to 8:00 p.m. and yellow alert from 2:00 p.m. to 5:00 p.m. and from 8:00 p.m. to 10 p.m.

Since the start of the year, the yellow alert has been raised 86 times while the red alert was raised 21 times for the Visayas power grid.

A red alert is issued when power supply is insufficient to meet consumer demand and the transmission grid’s regulating requirement.

A yellow alert is issued when the operating margin is insufficient to meet the transmission grid’s contingency requirement.

Available capacity at the Visayas stood at 2,412 megawatts (MW) while peak demand reached 2,570 MW.

There are 10 power plants are on forced outage this month, one plant since July, three plants since June, seven plants since May, one plant since March, three plants since 2025, two plants since 2024, two plants since 2023, and one plant since 2021, while 13 plants are running on derated capacities, for a total of 904.5 MW unavailable to the grid.

‘The Visayas grid continues to experience tight supply conditions. From our coordination with the industry, we expect major power plants to return to service soon,’ said Energy Secretary Sharon Garin.

TVI Unit 2 (169MW) and Kepco SPC Power Corp. (105MW) are expected to return to service within the week, followed by TVI Unit 1 (169MW) and Cebu Energy Development Corp. Unit 1 (135MW) in the coming weeks of September, providing additional capacity.

Garin said the Battery Energy Storage Systems (BESS) will help reduce red and yellow alerts in Visayas. ‘We also have mandated the NGCP to install about 250 megawatts of batteries… We have instructed them to connect the four power plants of batteries located in Iloilo, Negros, Cebu, and Leyte so that everything is balanced… at the minimum, 50 percent less yellow and red alerts will be in the Visayas,’ she said.

These BESS are located in Leyte, Cebu, Panay, and Negros.

‘We could easily address, reduce the yellow and red alerts by installing battery energy storage system. But, in the meantime, we are continuously studying if our alert levels will continue then we have to commission as well the liquid fuels that can be easily deployed,’ Energy Undersecretary Mario Marasigan said.

At the same time, the agency is closely monitoring the developments of committed new power projects in the country.

‘We have 48 projects that are already completed, including 11 BESS with a capacity of 1,846MW… as far as what is the closest we can complete, we are looking at the 25 major power projects which we are closely monitoring. In the end, we are still looking at 10,000 MW by end of 2030,’ added Marasigan.

TIME deposits are now among the eligible investment products under the Personal Equity and Retirement Account (PERA), the country’s voluntary retirement savings program, the Bangko Sentral ng Pilipinas (BSP) ruled.

A statement issued by the central bank last Tuesday read that time deposits now join the ‘growing lineup’ of PERA-qualified financial products that include unit investment trust funds, stocks, real estate investment trusts, and government securities.

According to the BSP, the inclusion of time deposits gives Filipinos another option for retirement savings.

‘It may appeal to savers who prefer a familiar savings product with predictable returns and relatively lower investment risk,’ the central bank said.

Under the latest PERA guidelines issued on August 20 by the BSP, banks that meet applicable BSP prudential requirements may offer PERA-eligible time deposits.

The BSP said banks must also obtain accreditation from the Bureau of Internal Revenue (BIR) and enter an arrangement with an accredited PERA administrator before accepting placements.

Lyn I. Javier, BSP’s Deputy Governor for Financial Supervision Sector, said that by introducing PERA time deposits, the central bank is providing ‘another practical option’ for individuals who want to build their retirement savings through a product they already understand and trust.

‘Retirement planning should be simple, accessible, and within reach of every Filipino,’ Javier emphasized.

Unlike regular time deposits, the central bank said a PERA time deposit forms part of a contributor’s equity and retirement account and may qualify for applicable tax incentives.

According to the BSP, PERA time deposits remain bank deposits and are subject to applicable banking regulations and insurance rules of the Philippine Deposit Insurance Corp.

PERA is the country’s voluntary retirement savings program that enables Filipinos to build funds for retirement while enjoying government tax incentives.

‘The BSP encourages Filipinos to make retirement saving a regular part of their financial planning and to choose PERA products that match their financial goals, investment horizon, and risk preferences,’ the central bank said in its statement.

Data obtained by reporters from Javier showed that total contributions under PERA have reached P757.55 million as of June 30. The amount is 45.4-percent higher than the P521.36 million contributions in the same period last year.

Meanwhile, there are now 30,055 contributors as of June 30, compared to the 6,193 contributors in the same period last year.

With an estimated P24.4 billion worth of rice wasted annually, the Department of Agriculture (DA) is urging Filipinos to consume rice more responsibly, emphasizing its critical role in national food security.

This, as the Philippine Rice Research Institute (PhilRice) pushed its Be RICEponsible campaign year-round, from being observed mainly in November, since responsible consumption should not be limited to 30 days.

PhilRice estimates that every Filipino discards roughly two tablespoons of cooked rice daily, translating to 10.85 million sacks of rice worth P24.4 billion a year. This could feed around 5.17 million Filipinos for an entire year.

Agriculture Secretary Francisco Tiu Laurel Jr. said responsible rice consumption should become an everyday practice, considering the staple’s importance to Filipino households and national food security.

‘Every grain of rice carries the work of a Filipino farmer. When we waste less, choose wisely, and support locally produced rice, we strengthen not only our farmers’ livelihoods but also our country’s food security,’ Tiu Laurel said.

For his part, Agriculture Undersecretary Christopher Morales said a year-round campaign shows the need to make responsible consumption an everyday discipline rather than a seasonal reminder.

‘Increasing production and reducing postharvest losses are critical to strengthening our rice supply, but these efforts will not be enough if we continue to waste what we already have on our plates,’ Morales said.

‘Disciplined consumption is just as important. Every grain saved from waste effectively adds to the food available to our people without requiring additional land, water, inputs, or production costs,’ he added.

The DA said PhilRice and its partners will introduce the campaign to schools, communities, markets, workplaces, terminals, and other high-traffic areas through information drives, food-tasting activities, exhibits, social media, and public events.

They also aim to revive the Half-Cup Rice Ordinance in participating areas, encouraging restaurants to offer smaller servings to help diners avoid taking more than they can consume.

Meanwhile, the agency also urged consumers to purchase locally produced rice to support Filipino farmers and enhance domestic supply.

‘Riceponsibility starts with something as simple as taking only what we can finish,’ Tiu Laurel said. ‘If every Filipino does a little, the country gains a lot, from less waste and healthier diets to stronger farmers and a more secure food supply.’

Senator Mark A. Villar is calling for the swift passage of Senate Bill No. 1870, or the proposed ‘Travel Tax Abolition Act,’ which seeks to remove the decades-old travel tax imposed on Filipinos leaving the country.

‘Hindi dapat maging dagdag na pasanin ang pag-alis ng bansa, lalo na para sa mga Pilipinong bumibiyahe upang magtrabaho, mag-aral, magpagamot, magnegosyo, o makasama ang kanilang pamilya. Panahon nang alisin ang travel tax at ibalik sa ating mga kababayan ang perang maaari nilang magamit sa mas mahalagang pangangailangan,’ Villar said.

Introduced in 1977 under Presidential Decree No. 1183, the travel tax was imposed at a time when overseas travel was widely viewed as a privilege. Villar said this ‘archaic’ policy no longer reflects present realities, as Filipino travelers currently pay a full travel tax of ?1,620 for economy-class passage and ?2,700 for first-class passage. A family of four traveling in economy class must therefore spend an additional ?6,480 before leaving the country. ‘Malaking bagay na sa isang pamilya ang ?6,480. Maaari itong ilaan sa pagkain, pamasahe, tirahan, gamot, o iba pang gastusin sa biyahe. Sa gitna ng patuloy na pagtaas ng presyo ng mga bilihin, nararapat lamang na alisin natin ang mga singil na hindi na angkop sa kasalukuyang panahon,’ Villar added.

Under Senate Bill No. 1870, government agencies and private entities will be prohibited from collecting travel tax once the measure takes effect. Passengers who have already paid the tax for flights scheduled on or after the law’s effectivity will also be entitled to an immediate refund.

The proposal likewise supports the objectives of the ASEAN Tourism Agreement, which seeks to facilitate travel and promote stronger connectivity among ASEAN member states.

Allaying concerns of possible disruptions to government programs, Senator Villar noted that the bill has safeguards for the continued funding through the annual General Appropriations Act for projects previously supported by travel tax collections.

At present, 50 percent of the collections goes to the Tourism Infrastructure and Enterprise Zone Authority for tourism development, 40 percent to the Commission on Higher Education for tourism-related educational programs, and 10 percent to the National Commission for Culture and the Arts.

‘Patuloy nating susuportahan ang turismo, edukasyon, at kultura, ngunit hindi kailangang manggaling ang pondo sa dagdag na singil sa mga Pilipinong bumibiyahe. Ang mga ito ay pambansang programa na dapat pondohan sa ilalim ng pambansang badyet,’ Villar stressed.

‘Simple ang layunin natin: bawasan ang gastos, paluwagin ang biyahe, at bigyan ng mas malaking kalayaan ang bawat Pilipinong maghanap ng oportunidad saan mang panig ng mundo,’ Villar concluded.

THE volume of goods traded in the country plunged 37.9 percent during the second quarter of 2026, dragged by a sharp contraction in commodities transported by water, according to the Philippine Statistics Authority (PSA).

Preliminary PSA data showed total domestic trade volume fell to 10.57 million tons in the April-to-June period from the 17.02 million tons recorded during the same quarter last year.

The decline was largely driven by water transport, where the volume of commodities shipped fell 56.7 percent to 3.77 million tons from 8.72 million tons a year earlier.

Road transport also recorded a decline, although at a slower pace, with volume falling 18.1 percent to 6.79 million tons from 8.29 million tons.

Air transport was the only mode to post an increase, with volume rising 18.3 percent to 6.91 thousand tons from 5.84 thousand tons.

The contraction in the physical volume of goods was accompanied by a smaller decline in the value of domestic trade.

PSA said domestic trade value fell 21.9 percent to P745.70 billion in the second quarter from P955.18 billion a year earlier.

Road transport bucked the broader decline, with the value of goods moved through the mode increasing 9.8 percent to P542.73 billion from P494.44 billion.

Meanwhile, the value of water-borne trade plunged 56 percent to P202.42 billion from P460.06 billion. Air shipments declined 16.9 percent to P557.67 million from P670.87 million.

Mineral products accounted for the largest share of domestic trade outflow volume at 2.73 million tons or 25.9 percent of the total, the PSA said.

Prepared foodstuffs; beverages, spirits and vinegar; tobacco and manufactured tobacco substitutes; products, whether or not containing nicotine, intended for inhalation without combustion; other nicotine containing products intended for the intake of nicotine into the human body followed with 2.25 million tons, while vegetable products accounted for 1.43 million tons.

By value, however, machinery and mechanical appliances, electrical equipment and related products led domestic trade at P183.41 billion, or 24.6 percent of the total.

The PSA said Region IV-A (Calabarzon or Cavite, Laguna, Batangas, Rizal and Quezon) remained the largest source of goods shipped across regions, accounting for 2.72 million tons, or 25.8 percent of total domestic trade volume.

The National Capital Region (NCR) followed with 1.70 million tons (16.1 percent), and Region III (Central Luzon) with 1.41 million tons (13.3 percent).

Pag-IBIG Fund’s gross housing-related assets reached ?1.01 trillion as of July 31, 2026, as its housing portfolio continued to grow with more financing extended to members buying, building and improving their homes, as well as to institutions supporting housing development.

Department of Human Settlements and Urban Development Secretary Jose Ramon P. Aliling, who chairs the Pag-IBIG Fund Board of Trustees, said the growth reflects Pag-IBIG Fund’s continuing role in expanding homeownership while supporting activity across the housing sector and the broader economy.

‘Pag-IBIG Fund’s performance continues to reflect its commitment to achieving the directive of President Ferdinand R. Marcos Jr. under the Expanded Pambansang Pabahay para sa Pilipino Program to make affordable homeownership accessible to more Filipinos.

‘Reaching more than ?1 trillion in housing-related assets is an important milestone. It means more financing is reaching Filipino homebuyers, while qualified developers and institutions receive greater support to provide housing. As investments in housing grow, they also help stimulate the industry, support construction and related sectors, create jobs and contribute to broader economic growth,’ Aliling said.

Of Pag-IBIG Fund’s ?1.01 trillion in gross housing-related assets, ?971.39 billion, or about 96%, consists of housing-related loans, while ?38.47 billion consists of other housing-related assets. For members, much of this represents financing that has helped Filipino workers buy, build or improve homes.

The emphasis on housing is built into Pag-IBIG Fund’s mandate, which requires at least 70% of its investible funds to be invested in housing. This enables members’ pooled savings to finance homes and housing development while generating earnings that help protect and grow their funds.

Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta said the trillion-peso housing portfolio reflects the very meaning of Pag-IBIG, Pagtutulungan sa Kinabukasan: Ikaw, Bangko, Industriya at Gobyerno, with members’ savings helping fellow members achieve homeownership.

‘This is Pag-IBIG at work. The savings of millions of Filipino workers are pooled together and put to productive use, much of it to help fellow members have homes of their own. As we continue supporting President Marcos’ housing agenda, what matters most is that more members are able to turn their hard-earned income into homes and assets that can provide greater security for their families,’ Acosta said.

‘For a member paying a housing loan, each amortization brings that member closer to fully owning a home. Over time, that home becomes more than a place to live. It is an asset that families can improve, preserve and pass on to the next generation. This is how homeownership can help our members build lasting value and greater financial security,’ she added.

Pag-IBIG Fund also continued to expand financing for both the end-user and institutional housing markets. From January to July 2026, housing and wholesale loan releases reached ?88.84 billion, up 12% from ?72.61 billion during the same period last year, reflecting continued demand for home financing and funding support for housing development.

To widen access further under Expanded 4PH, Pag-IBIG Fund increased the maximum Pag-IBIG Housing Loan to ?10 million per borrower, payable over terms of up to 30 years, while continuing to provide a 3% subsidized housing loan rate for qualified low-income borrowers. It also offers promotional rates of 4.5% for loans above the socialized housing price ceiling up to ?4.9 million, and 5.75% for loans above ?4.9 million up to ?10 million, until Dec. 31, 2026.