Category: Business Mirror

IT’S been 43 years since former senator Benigno ‘Ninoy’ Aquino Jr. was assassinated as he returned from exile in hopes of prodding a dictatorship toward democratic restoration.

And on the anniversary of his martyrdom that unleashed protests leading to a dictator’s ouster, no less than the only son and namesake of former President Ferdinand Marcos led the nation in marking his death.

In a statement, President Ferdinand Marcos Jr. called on every Filipino to emulate the example of Aquino, Jr. of being involved in safeguarding the country’s freedom by combatting its modern-day threats, including disinformation, division, distrust, and civic indifference.

‘Ninoy’s legacy encourages us to meet these challenges with vigilance and faith in the Filipino people as we work together to deliver meaningful progress for all,’ Marcos said in a statement during Ninoy Aquino Day Friday.

‘This day reaffirms that freedom carries with it a collective duty to respect the dignity and rights of others and to contribute to the good of our nation,’ he added.

The chief executive assured the people his administration will also play its part in nation-building by continuing to protect the country’s sovereignty, upholding the rule of law, and ensuring that each Filipino continues to enjoy liberty and opportunities.

‘Together, let us carry forward the lessons of our history as we continue to nurture a more peaceful and prosperous Bagong Pilipinas. May we all have a solemn and purposeful remembrance,’ Marcos said.

Aquino was the political rival and staunch critic of Marcos’s father, former President Marcos. His death propelled his widow Corazon C. Aquino to the presidency after the 1986 Edsa revolt; and 24 years later, his only son Benigno Simeon C. Aquino III, called ‘Noynoy,’ was himself elected President.

The former senator was assassinated on August 21 in 1983 at the then called Manila International Airport, which was later renamed after him. His death galvanized a fragmented opposition in the country and those exiled abroad, with massive protests culminating in the 4-day peaceful revolt at Edsa.

In 2004, Congress passed into law Republic Act 9256 declaring every August 21 as national non-working holiday to commemorate the event.

Despite the martyred senator’s role in opposing his father, President Marcos recognized that Aquino’s legacy should be commemorated since he played a crucial role in safeguarding freedom, strengthening institutions, and deepening national unity.

‘Ninoy’s legacy encourages us to meet these challenges with vigilance and faith in the Filipino people as we work together to deliver meaningful progress for all,’ he said.

Other leaders weigh in

Earlier on Thursday, the first to issue a statement was former House Deputy Majority Leader and three-term Manila Mayor Lito Atienza, who was among a handful of opposition lawmakers in the Interim Batasang Pambansa in 1984.

On Friday, commemorative statements were issued by Senators Francis Pangilinan, chairman of the Aquinos’ political party the LP, and Ninoy Aquino’s nephew Sen. Bam Aquino.

According to Pangilinan, Ninoy offered his life not just to free people from a dictatorship. ‘He also offered it for the dream of seeing us truly free-from hunger, poverty, subjugation by powerful countries and from being victims of fake news,’ Pangilinan said, in Filipino.

August 21, he said, should thus be celebrated not just on the day itself, but ‘every day, because the struggle Ninoy faced is still very much alive today: those greedy for power, and those abusing human rights,’ among others.

The hardest part to understand in Aquino’s patriotism and decision to return in 1983, said Bam Aquino, is this: ‘hindi mo minamahal ang Pilipinas dahil sigurado kang may kapalit. Hindi ka naninindigan dahil alam mong mananalo ka. At hindi ka naglilingkod dahil sigurado kang kikilalanin ka. Ginagawa mo ito dahil naniniwala kang karapat-dapat ipaglaban ang Pilipino, kahit hindi mo alam kung ano ang naghihintay sa iyo.’

This, he said, underscores the martyred senator’s famous line, ‘The Filipino is worth dying for.’

‘WE all know TV is dying,’ said Vice Ganda during a press conference marking her partnership with MediaQuest Holdings Inc. at The Lighthouse at Meralco Center.

Under the agreement, Vice Ganda is expected to develop content for TV5, as well as other MediaQuest media and digital platforms.

This officially means that she is now a Kapamilya, a Kapuso, and a Kapatid.

‘She is the Queen of All Networks,’ said MediaQuest chairman Manny V. Pangilinan (MVP).

For Vice Ganda, the signing of the agreement is a healing experience because she admitted was disappointed when It’s Showtime, the daily noontime variety show he hosted with other celebrities, left TV5’s programming lineup in 2023.

‘I admit that I felt hurt at the time, but in this industry, we don’t burn bridges. I eventually said yes because I believed in what they wanted to accomplish.’

Vice Ganda and MediaQuest intend to revive free TV in the country in an era where Filipinos consume more content from digital and streaming platforms.

‘We have the same goal. Our goal is to extend the era of TV, especially in the Philippines. We can only do that if the people involved collaborate and bring together our different capabilities,’ said Vice Ganda.

‘MVP told me, ‘You have what I don’t have, and I have what you don’t have. So why not unite?”

Aside from Vice Ganda and Pangilinan, present at the signing ceremony were Slingshot Studios head for partnerships, people and business development Ranvel Rufino, and MediaQuest Holdings president and CEO Victorico Vargas.

Pangilinan said MediaQuest is offering Vice Ganda several platforms where the actor-comedian can showcase her talents. ‘You have built an exceptional career with your exceptional talents. On your own, you have built a distinctive brand, an audience that is not only nationwide but goes beyond the shores of the Philippines, in a career that very few people in this room can match. This event completes the elevation of Vice Ganda to the title of Queen of All Networks,’ said Pangilinan.

‘We offer to you the many platforms, television studios, streaming services, PLDT and Smart, various platforms that we can scale and reach. We offer something to you, a topic that is bigger, better and different to entertain,’ he added.

Vice Ganda said unity is the key in the effort to keep the era of television alive

‘Pareho lang kami ng goal din eh. Ang goal namin is mapahaba pa ‘yung era ng television, especially sa Pilipinas, at least. We’re only able to do that if we collaborate.’

‘Kailangan nilang magsanib-pwersa. ABS-CBN, GMA, TV5, and other platforms. Kahit ‘yung mga streaming platforms nakaka-collaborate rin nila,’ she said.

No details are available yet about the content but Vice Ganda hinted that it will be fun and funny because he knows that Filipinos want to laugh, if only to forget temporarily the problems they are facing.

TWO WorldTeams and eight ProTeams have officially confirmed to heat up the 30th edition of Le Tour de Langkawi 2026 (LTdL2026) scheduled September 27 to October 4.

Completing the 20-team line-up for this year’s race are nine Continental teams and the Malaysian National Team which all set to tackle the 1,285.5-km route spanning eight stages.

The two WorldTeams are Kazakhstan’s XDS Astana and Dutch outfit Picnic PostNL while the eight ProTeam entrants are Tudor Pro Cycling Team (Switzerland), Caja Rural-Seguros RGA, Equipo Kern Pharma and Burgos-Burpellet (Spain), TotalEnergies and Unibet Rose Rockets (France), Bardiani CSF-Saber (Italy) and newcomer Modern Adventure Pro Cycling from the United States.

The nine Continental Teams are Terengganu Cycling Team and Malaysia Pro Cycling (Malaysia), Thailand Continental Cycling Team (Thailand), 7-Eleven Cliqq Roadbike Philippines (Philippines), Nusantara Cycling Team (Indonesia), WheelTop Rotor Chengdu Cycling Team (China), Aisan Racing Team (Japan), KSPO (South Korea) and St George Continental Cycling Team (Australia).

In contrast to last year’s 22-team field, two notable omissions from the start list are ProTeam outfits Uno-X Mobility and Polti VisitMalta.

National Sports Council (NSC) Director-General, Jefri Ngadirin said that while the total number of teams has been reduced compared to last year’s edition, it remains fully compliant with the ProSeries race quota set by UCI.

‘The primary reason for reducing the team quota is part of cost-saving measures implemented across all government ministries, departments and agencies in light of current national economic and global geopolitical uncertainties,’ Ngadirin said.

‘LTdL achieved these savings through two key areas-reducing appearance fees and travel allowances for WorldTeams,’ said Jefri during the official team lineup announcement at MSN, Bukit Jalil, recently. ‘We declined requests from teams such as EF Education and Uno-X, as Astana and Picnic PostNL had confirmed their entries earlier.’

Stages on Langkawi Island were omitted from this year’s route as part of logistics cost-containment measures, which typically incur high operational expenditure.

Nevertheless, with a lineup featuring two WorldTeams and eight ProTeams, LTdL26 is expected to maintain a high level of competition, fierce, thrilling and unpredictable – especially with three formidable mountain stages at Gunung Jerai, Cameron Highlands and Genting Highlands.

‘Astana, Picnic and Tudor regularly feature in cycling’s three Grand Tours which is the Tour de France, Giro d’Italia and Vuelta a Espana,’ Ngadirin said. ‘TotalEnergies and Caja Rural also race the Tour de France, Bardiani and Unibet compete in the Giro while Kern Pharma and Burgos feature in the Vuelta.’

‘Therefore, the teams confirmed for this edition are formidable contenders in top-tier global cycling and I am confident they will field strong rider combinations to secure victory,’ he added.

Newcomer Modern Adventure Pro Cycling is a newly formed team this year but the South Carolina-based setup is guided by world cycling legend George Hincapie, a former lead domestique for Lance Armstrong, Alberto Contador and Cadel Evans, alongside former Tour de France and Giro stage winner Bobby Julich.

Ngadirin added that MSN, as the main organiser, eagerly awaits the final rider rosters to be submitted by respective teams, given that this year’s route profile is regarded as one of the most gruelling in the race’s history since its inception in 1996.

‘Some teams have submitted initial rider lists, but we expect them to make a last-minute revisions and field their strongest lineups,’ he said. ‘Achieving top results means securing crucial UCI ranking points, especially in these end season races.’

LTdL2026 will flag off from Shah Alam on September 27 and conclude in Putrajaya on October 4, covering a total distance of 1,285.5 km across eight stages.

Classified as a 2.ProSeries event on the UCI Asia Tour calendar, the race is co-organised by the Ministry of Youth and Sports (KBS) through MSN in collaboration with the Malaysian National Cycling Federation.

LTdL 2026 – TEAMS

UCI WORLDTEAMS

XDS Astana (Kazakhstan)

Picnic PostNL Netherlands)

UCI PROTEAMS

Tudor Pro Cycling Team (Switzerland)

Caja Rural-Seguros RGA (Spain)

Equipo Kern Pharma (Spain)

Burgos-Burpellet (Spain)

TotalEnergies (France)

Unibet Rose Rockets (France)

Bardiani CSF-Saber (Italy)

Modern Adventure Pro Cycling (USA)

UCI CONTINENTAL

Terengganu Cycling Team (Malaysia)

Malaysia Pro Cycling (Malaysia)

Thailand Continental Cycling Team (Thailand)

7-Eleven Cliqq Roadbike Philippines (Philippines)

Nusantara Cycling Team (Indonesia)

WheelToprotor Chengdu Cycling Team (China)

Aisan Racing Team (Japan)

KSPO (South Korea)

St George Continental Cycling Team (Australia).

RATING and Investment Information, Inc. (R and I) affirmed the Philippines’ ‘A-‘ investment-grade credit rating and maintained its ‘stable’ outlook on improving fiscal balance and expectations of sustained economic growth.

The Japanese credit rating agency on Friday announced that it affirmed the sovereign’s Foreign Currency Issuer Rating at ‘A-‘ and the Foreign Currency Short-term Debt at ‘a-1.’

‘R and I’s affirmation of the Philippines’ A- rating and Stable outlook recognizes the government’s fiscal consolidation efforts and the strength of our economic reforms,’ Finance Secretary Frederick D. Go was quoted as saying.

R and I said the fiscal balance has improved as a share of gross domestic product (GDP) and the government debt ratio is likely to ease in the medium term.

The debt ratio, at 63.2 percent in 2025, remains manageable and is expected to decline over the medium term due to the ‘improving’ trend in the fiscal deficit path, R and I said.

‘The government is pursuing fiscal consolidation while balancing economic growth,’ it said. ‘The country has a certain level of debt affordability, given the manageable level of interest payment burden.’

Economic expansion is likewise expected to continue, backed by population growth, infrastructure investment and inflows of foreign direct investment, it added.

However, R and I said this year’s economic growth is ‘highly likely’ to fall below the previous year’s level of 4.4 percent due to slower infrastructure spending affected by stricter validation and governance measures introduced following corruption allegations involving flood control projects.

Despite remittances staying stable amid ongoing tensions in the Middle East, R and I said rising energy costs have pushed up the cost of living and resulted in muted private consumption.

‘With the current account deficit and external debt remaining at manageable levels, there is limited concern on the external front,’ the rating agency added.

Stable surplus items, particularly remittances from overseas workers, continue to provide support, while the trade deficit reflects strong domestic investment and business activity, R and I said.

Higher imports of raw materials and intermediate goods for infrastructure projects help in laying the groundwork for future growth, it added.

‘Considering this structure, R and I believes that the present level of current account deficit does not necessarily have negative implications for the assessment of creditworthiness,’ it said.

The country’s foreign exchange reserves are also sufficient relative to imports, while net external debt remains low as a share of GDP, limiting external risks, R and I said.

The debt watcher also cited the stability of the Philippine banking sector as another factor supporting the sovereign’s credit profile.

‘The country’s resilience is supported by a sound banking system, an efficient payments system, and a healthy external position,’ Bangko Sentral ng Pilipinas Governor Eli M. Remolona Jr. said in a statement.

‘The BSP will continue to take a forward-looking and data-driven approach to monetary policy, financial supervision, payments oversight, and external sector management. These efforts help preserve stability and sustain confidence in the Philippine economy,’ Remolona added.

The Philippines’s sovereign credit ratings remain at investment-grade levels, with R and I and Japan Credit Rating Agency affirming their ‘A-‘ ratings.

Other major credit rating agencies have also maintained their investment-grade ratings on the Philippines, among them S and P Global Ratings at ‘BBB+,’ Fitch Ratings at ‘BBB’ and Moody’s Ratings at ‘Baa2.’

‘Quis custodiet ipsos custodes?’ is a famous Latin phrase from the Roman poet Juvenal, translated as ‘Who watches the watchers?’

In the same way, who will take care of the husbands or wives who are confined at home 24/7 to attend to the needs of their spouses struck by a debilitating stroke or heart attack, or afflicted with a long, lingering illness such as cancer, impaired kidneys, dementia, severe knee problems, diabetes, and similar health issues common to seniors in their advanced years?

Marriages in late life often turn into a patient-caregiver relationship when bodies start to break down in the natural course of life.

Consider the case of someone whom I have coffee with at least once a week. I was hoping to write something similar to ‘Tuesdays with Morrie’ a memoir by American author Mitch Albom about a series of visits he made to his former university sociology professor, learning profound life lessons about love and wisdom.

Lately, our conversation has veered into his current situation. He reveals that he has chosen to devote his remaining years at home to tend to the needs of his wife, who, like him, is 90 years old and shows symptoms of early stage dementia.

Although they have employed a domestic helper and a professional caregiver to watch over her and tend to her needs, his spouse only responds to him. She can’t recognize even her own children sometimes. It is he she asks for when she is awake. She gets agitated when she doesn’t find him at her side.

What this means is that he is at her beck and call. When he has to see a friend or colleague out of home, he needs to meet them somewhere near because he can’t be physically far from her.

He, however, emphasized to me that he has no problem with his present situation and in fact he has embraced it wholeheartedly. After all, this is what he signed up for when they got married: ‘In sickness and in health, for better or for worse.’ Being a former theater and film actor and director, he says with a wink, ‘this is Act 3 of my performance on the stage of life.’

He tells me of the time when a stranger approached him and said that he was touched and moved by the attention he was giving his wife. On social media, friends say he is a source of inspiration. ‘I appreciate all those positive comments,’ he says. ‘Nakakataba ng puso (It gladdens my heart), but we can romanticize it only so far because the reality is that it’s hard.’ As one sympathetic colleague, now a widower, advised him: ‘Dapat hindi ka nauubusan ng pasensya. Sinlalim ng dagat.’

His case got me and my wife thinking about ourselves as well as all the other elderlies stuck at home. More and more senior couples I know are getting confined at home, taking care of each other, with one spouse immobilized by chronic health conditions that debilitate elderly men and women.

Compared to other family members, spouses are more likely to commit to a long-term caregiver role. Who else would have the patience, compassion, endurance? The children? They have their own respective families to take care of. They may drop by for a visit now and then, but they would rather just give financial help than stay day after day with a parent who demands complete attention.

So, let’s not over-romanticize the spousal caregiver role. It is a 24/7 job. No, it is a really another career for the spouse. Beyond the compliments, what senior caregivers really need are concrete and helpful ways to enable them to do a better job. For if society would take care of them, they can do a better job of taking care of their respective spouses who are confined to bed or wheelchairs at home.

Aside from caregiving skills, this ‘spousal caregiver career’ requires a specialized set of skills and knowledge, including physical, mental and spiritual conditioning, psychology, geriatric medical knowledge, anger management, spiritual conditioning, among others.

May I propose the following ideas for our policymakers to consider in future legislation related to seniors’ wellbeing?

1. Formal training for seniors who become designated caregivers.

One of the common challenges of spouse-caregivers is that no one ever told them what to do with a spouse stuck at home by serious ailment. Instead, they are ‘just doing this by the seat of our pants.’ They face questions like: what do I need to know about dementia; how do I put on and change my spouse’s diapers; when should I bring her to the hospital, and so on. A government funded caregiver education and training program should be designed for them, something like ‘Beginner’s Guide to Being a Spouse Caregiver.’ It’s a whole different kind of ballgame that not everyone can play. They need to master it fast.

2. Spiritual counseling

Spousal caregivers need someone to advise and guide them and help them develop and strengthen mental and emotional fortitude. A rehabilitation psychologist says strokes and cancer put very different pressure on spouses than other diseases do. Equipping them with positive effective caring strategies is important. I know a few who become depressed for being left alone to do a thankless task. How are they supposed to cope mentally and spiritually with caring for a disabled and being stuck at home for the rest of their lives? My wife once told me: ‘Pag ako nagka dementia, huwag mo naman ago sigawan at pagalitan.’

3. Financial support in the form of stipend for spousal caregivers

Time and again, my 90-year-old friend lets out a heavy sigh: ‘I love caring for my wife but it’s draining all my savings.’ Since not all aged couples can afford to be in assisted living facilities, the government should at least find ways to provide a stipend for full time spousal caregivers. In some countries, there are several government programs, or funding sources, that exist that can pay spouses or family members as caregivers. We urgently need to initiate the development of support measures tailored to spousal caregivers with a limited household income.

I can only hope that our policymakers can come up with laws that incorporate the elements of positive spousal-caregiving into effective policies to support spousal-caregivers in the relentless battles they have to fight day in and day out.

Department of Social Welfare and Development (DSWD) Secretary Rex Gatchalian and officials from the provincial government of Davao de Oro conducted the ceremonial signing of a deed of land donation on Monday, August 17.

The land situated in Barangay Pasian, Monkayo, Davao de Oro will be the site of the Group Home for the Elderly. It will be established as the Older Adult Supportive Integrated Services (OASIS) Village, providing residential care and support for abandoned, neglected, and at-risk senior citizens.

Davao de Oro 1st District Representative Maria Carmen Zamora-Mabanglo and Governor Raul Mabanglo represented the provincial government of Davao de Oro as the donor, while Secretary Gatchalian accepted the property donation on behalf of DSWD.

DSWD Undersecretary for Operations Monina Josefina Romualdez was also present as a witness to the formal signing. (KI)

The premier of a Canadian province launched a blistering attack on US President Donald Trump on Thursday, calling him a ‘bad person’ and ‘not to be trusted’ and urging Canada to keep fighting rather than rush to make concessions in trade talks with Washington.

Manitoba Premier Wab Kinew said Canada has leverage in the talks even as his province weighs restoring U.S. alcohol sales at Prime Minister Mark Carney’s urging to help secure a deal that would avert threatened 50% US tariffs.

‘Everybody knows the American president by now, he’s erratic, he’s irresponsible, and he’s not to be trusted. And this is the person that we were supposed to make a deal with, and we’re going to make additional concessions for it. That’s why I say you can’t make a good deal with a bad person, because who’s to say it’s not going to be undone?’ Kinew said. Dominic LeBlanc, the federal minister responsible for Canada-U.S. trade, said Thursday the two countries were close to finalizing an agreement after he returned to Washington to meet again with U.S. Trade Representative Jamieson Greer.

‘We’re very close. We continue to make progress,’ he said, adding that Canadian officials would remain in Washington to keep working on the deal. Trump has called the emerging agreement ‘very fair’ to both sides, while tariffs on about $20 billion worth of Canadian imports have been postponed until 12:01 a.m. Saturday. Neither side has released the full terms.

Despite his criticism of Trump, Kinew said Manitoba may go along with Carney’s request as part of a ‘Team Canada’ approach. But he urged consumers to keep buying Canadian even if U.S. products return to provincial liquor stores. Other provincial leaders, including the premiers of Saskatchewan and Nova Scotia, have publicly backed the direction of Carney’s negotiation.

Newfoundland and Labrador Premier Tony Wakeham said all premiers agreed during Wednesday’s call with Carney to return US alcohol to store shelves, although not every premier has publicly confirmed that position.

‘I think we should fight. I think Donald Trump is very weak. I think America is weaker around the world today than it was a year ago. He’s about to get slaughtered in the midterms and the cost of living is the number one issue and he’s completely out of touch with the cost of living of Americans,’ Kinew said.

‘We’ve got the upper hand. They are back on their heels right now. They are coming to us for a deal right now.’

Restoring alcohol sales a sticking point

Kinew said he understood Carney’s request to mean that restoring US alcohol sales was effectively necessary to complete the deal. The provincial bans on US alcohol have been a particular irritant for the Trump administration, which has pressed Canada to remove restrictions that sharply reduced American liquor sales.

Provincial governments do not have a veto over the overall Canada-U.S. agreement, but they control measures such as liquor sales and some procurement rules that have become part of the negotiations.

Eight of Canada’s 10 provinces restrict or ban U.S. alcohol-measures imposed in retaliation for Trump’s previous tariffs on Canadian goods and amid anger over his repeated talk of making Canada the 51st US state.

Kinew said Carney strongly pressed premiers to restore U.S. alcohol sales while other details of the agreement were still being finalized. ‘I wouldn’t say that he was begging us, but what is the step before begging?’ Kinew said.

Ontario, Canada’s most populous province, is especially important. Its government-run LCBO, one of the world’s largest alcohol purchasers, sold nearly 1 billion Canadian dollars ($723 million) worth of US products annually before pulling them from shelves last year.

Ontario Premier Doug Ford, who has clashed with Trump before, has not yet commented on the emerging deal.

Kinew said Canadians should not buy American products even if they return.

‘When we put the American booze back on the Liquor Mart shelves, Canadians, leave it there. Spend your money on Canadian products that are going to employ people in our country and that have an administration that respects Canada,’ Kinew said.

Kinew also said Manitoba could agree to remove formal restrictions on US companies and products, including procurement preferences, while continuing to favor Canadian suppliers in its own purchasing.

Kinew said he preferred to keep fighting, noting the U.S. Republican president’s tendency to levy extremely high import taxes and then retreat. He mentioned what’s known as the ‘TACO’ trade, an acronym coined by The Financial Times’ Robert Armstrong that stands for ‘Trump Always Chickens Out.’

‘Do we expect that this is going to be the end of Donald Trump?,’ Kinew said.

Quebec Premier Christine Fréchette, meanwhile, said Carney had answered many of her questions about the emerging agreement but stopped short of endorsing it while the province assesses the economic impact. She said Quebec could restore U.S. alcohol to shelves at the SAQ, the Quebec government corporation that controls most wine and spirits sales in the province, but stressed that the decision would be Quebec’s.

Robert Bothwell, a professor emeritus of Canadian history and international relations at the University of Toronto, said Kinew’s criticism reflects a broader Canadian view of Trump. ‘Kinew speaks for Canada,’ Bothwell said. ‘The majority of the Canadian people hates Trump.’

THE Subic Bay Metropolitan Authority (SBMA) has opened to competing private-sector proposals a P7-billion project to rehabilitate, expand, and operate the Subic International Airport (SIA) under a 25-year concession.

The project entered the comparative challenge stage after SBMA approved an unsolicited proposal from US-based investment company Cerberus Asia Pacific Investments LLC, the Public-Private Partnership (PPP) Center said on Thursday.

‘Through the Comparative Challenge process, the SBMA invites interested and qualified local and foreign private sector challengers to submit comparative proposals for the modernization, expansion, operation, and maintenance of one of the country’s strategically located aviation assets,’ the PPP Center said.

Under the unsolicited proposal process, Cerberus, as the original proponent, may match or improve the most advantageous offer submitted by a challenger. This means that the project has not yet been awarded to a private operator.

The comparative challenge began on April 27, while the instructions to prospective challengers were released on July 31.

Structured as an Operate-Rehabilitate-Add-Transfer arrangement, the project will require the winning private partner to operate and rehabilitate the airport, build additional facilities, and eventually return the assets to SBMA at the end of the concession.

The 25-year concession may be extended subject to performance conditions agreed upon by the government and the private operator.

Much of the airport’s existing structures and interior facilities have deteriorated and will require major repairs, according to the project brief.

The project also includes the extension of the airport’s Runway End Safety Area (Resa) and coordination with the Civil Aviation Authority of the Philippines (CAAP) and the Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa) on aviation safety and weather services.

‘The Project also includes upgrades, new developments, and the acquisition of equipment to expand airport capacity, improve operational efficiency, and support new service offerings such as commercial cargo and government warehousing operations,’ the PPP Center said.

These include two warehouse buildings with a combined floor area of about 22,400 square meters and a 32,000-square-meter aircraft staging and parking area under the proposed Midway Apron Development.

Located within the Subic Bay Freeport Zone, the airport covers about 1.74 million square meters. It has a 2.7- kilometer runway capable of accommodating large commercial aircraft.

According to the PPP Center, the concessionaire may earn from cargo handling, warehousing, airport charges, commercial leasing, logistics services and other aeronautical and non-aeronautical activities. It will also pay business taxes, airport management fees, and a share of its revenues to SBMA.

It added that SBMA will retain oversight of the airport and assist the private operator in securing permits and coordinating with aviation and other government agencies.

The PPP Center initially valued the SIA project at P5.31 billion when the Cerberus proposal entered the government’s PPP pipeline in 2025, before raising the estimate to P7 billion in the revised bidding timetable.

MINIMUM wages could be reviewed more frequently under a proposed midyear assessment meant to catch sharp price increases before they significantly erode workers’ purchasing power, according to the Department of Labor and Employment (DOLE).

The proposal would give regional wage boards a regular basis to reassess rates outside the usual cycle, including when extraordinary economic conditions emerge.

Labor Secretary Francis N. Tolentino said the National Wages and Productivity Commission (NWPC) and Regional Tripartite Wages and Productivity Boards (RTWPBs) should not wait for workers to file petitions or for conditions to worsen before reviewing existing wage rates.

‘Rather than wait for a petition or for conditions to become dire enough to force an emergency wage order, this commission should now think of producing a midyear wage and price assessment every midyear,’ Tolentino said.

The assessment would track first-half consumer price movements and measure their impact on lower-income households and the real value of minimum wages across regions.

Tolentino also wants clear criteria that would allow regional wage boards to initiate reviews on their own when warranted.

Such a mechanism could allow boards to respond faster when global or domestic developments push up prices and weaken workers’ purchasing power.

‘What we owe the Filipino worker is not just a single generous gesture at the year’s end followed by silence until the next crisis forces our hand,’ Tolentino said.

He said wage-setting should remain flexible and evidence-based, with regular checks on whether current rates still reflect conditions faced by workers and employers.

The proposal comes as the latest Metro Manila minimum wage increase remains covered by a court injunction.

While respecting the order, the government must keep looking for other lawful ways to respond to changing economic conditions, Tolentino said.

‘We should not be held hostage by a court injunction. However erroneous it might be, we have to respect it at the moment,’ he said.

‘We have to find other means to be flexible enough to respond to the conditions as they emerge-means outside the court but within the legal parameters provided for by the Labor Code of the Philippines,’ Tolentino added.

NWPC Executive Director Maria Criselda R. Sy, meanwhile, said wage decisions should put human dignity at their core as the commission and regional boards reviewed wage concerns, upcoming consultations and productivity initiatives.

Tolentino said the broader goal is to make wage-setting more transparent, evidence-based and responsive while balancing the needs of workers and employers.

President Donald Trump’s administration is increasing pressure on Cuba by imposing more economic penalties on industries in the heavily sanctioned socialist country and broadening enforcement of laws that bar Americans who visit the island from dealings with government-owned or -affiliated businesses.

The Treasury and State departments announced Thursday that they are leveling new penalties against nine state-owned mining, metal and construction companies along with the leadership of the Cuban Institute of Friendship with the Peoples, or ICAP.

Secretary of State Marco Rubio said the institute is responsible for sponsoring ‘a vast subversive network in the United States aimed at identifying, cultivating, and radicalizing’ Americans. ‘Just days ago, the regime attempted to use Communist kingpin and despot Fidel Castro’s 100th birthday to reinvigorate this subversive network, ferrying a new brigade of international sympathizers to Havana to network with regime officials,’ Rubio said in a statement.

‘The Trump Administration will not stand by while a hostile foreign power seeks to exploit our freedoms-none of which are afforded to its people-by misleading and corrupting American citizens with lies, spy tradecraft, and other malfeasance as part of the regime’s raison d’être of exporting Marxism, racial resentment, and Communist violence across the world,’ Rubio said.

Trump’s Republican administration has steadily ratcheted up pressure on Havana, threatening it with potential military intervention even when mired in a conflict against Iran, while also boosting economic sanctions designed to cut off funding for the Cuban government. An oil blockade that the U.S. imposed on Cuba after the American military raid that ousted Venezuelan leader Nicolás Maduro, whose country provided Cuba with subsidized oil, has plunged the already economically crippled island into full-blown crisis.

Cuban Foreign Minister Bruno Rodríguez rejected the sanctions in a post on his official X account, asserting that the United States and Rubio are pursuing the ‘deliberate aim of harming’ the economy ‘to prevent the provision of basic services to the population.’

‘In his failed obsession with Cuba, he is now targeting executives and officials from ICAP-an institution that, for over six decades, has promoted friendship, international solidarity, justice, and peace-the exact opposite of what the Secretary of State has always championed in his corrupt policy,’ Rodríguez wrote.

The latest sanctions follow an operation at the Miami airport last weekend in which several American citizens returning from Cuba after participating in events marking Castro’s birthday were briefly detained, according to US officials. Some of them had their cellphones and other personal electronic devices seized for inspection, the officials said.

US authorities had been prepared to detain dozens of returning

activists for secondary screening, but far fewer were found to meet the criteria for the enhanced questioning by Customs and Border Protection agents, the officials said.

The officials, who spoke on the condition of anonymity because details of the operation have not been made public, said those detained were eventually released and allowed to enter the US.