Category: Business Mirror

FRESH from its extensive humanitarian operations for Super Typhoon Nando, while currently responding to Typhoon Opong and the Taal Volcano unrest, the Philippine Red Cross (PRC) led by Chairman and Chief Executive Officer Richard J. Gordon, once again swung into action following the magnitude 6.9 earthquake that struck Cebu on the night of September 30.

According to the Philippine Institute of Volcanology and Seismology (Phivolcs), the earthquake struck at 9:55 p.m. with its epicenter located 21 kilometers northeast of Bogo City, Cebu. The tremor was initially recorded at magnitude 6.7 before being upgraded to 6.9.

After ensuring the safety of PRC staff and volunteers in the area, the PRC swiftly deployed its assets to support emergency response efforts.

‘We already have our staff and volunteers on the ground, assessing the needs of affected communities. We remain in constant communication with our team and RC143 volunteers to ensure that reports reach our Operations Center immediately and we can deliver timely humanitarian assistance,’ said Gordon.

As of 10:00 a.m. on Wednesday, the PRC has mobilized two ambulances, a food truck, two Rapid Damage and Needs Assessment (Rdana) teams, and two Emergency Response Unit (ERU) teams. At least 62 persons have also been treated for injuries. The PRC remains committed in ensuring aid comes to the affected communities, Gordon added.

The PRC urged the public to remain vigilant and prioritize their safety. In case of emergencies, call the Red Cross Hotline #143.

In a significant step toward enhancing accountability in public infrastructure spending, Senator Mark Villar has filed Senate Bill No. 1438, titled the ‘Government Construction Project Transparency and Accountability Act of 2025.’ This pioneering legislation mandates comprehensive drone monitoring for all government construction projects as a mandatory requirement before any payments are processed.

The bill represents a comprehensive approach to oversight, applying to all national government agencies and government-owned and controlled corporations involved in construction. This includes key infrastructure bodies such as the Department of Public Works and Highways, Department of Transportation, and Bases Conversion and Development Authority, ensuring widespread coverage across the government’s infrastructure portfolio.

Sen. Villar emphasized the critical need for this reform, stating, ‘Persistent challenges including project delays, quality issues, and financial irregularities in public works demand innovative solutions. This legislation harnesses modern technology to establish an unwavering standard of accountability for every peso of public funds invested in infrastructure.’

The proposed measure requires systematic aerial documentation through unmanned aerial vehicles, to be conducted by independent accredited third-party entities. It establishes a framework for capturing detailed project progress through high-resolution geotagged imagery, comprehensive video footage, and orthomosaic mapping. All collected data will be made accessible to citizens through a centralized public transparency portal, creating unprecedented visibility into government project execution.

The legislation includes strong enforcement mechanisms, specifically prohibiting any payment processing without the required drone verification documentation. It also stipulates serious penalties for both contractors and government personnel involved in submitting or approving falsified monitoring data, with violations being prosecuted under the Anti-Graft and Corrupt Practices Act.

‘This initiative transforms how we monitor and manage public infrastructure projects,’ the Senator added. ‘It empowers citizens with tangible evidence of project progress while ensuring that government expenditures correspond directly to actual, verified accomplishments. We are committed to restoring public confidence in how infrastructure projects are implemented and delivered.’

The bill provides for a coordinated implementation timeline, with relevant agencies required to establish accreditation standards for monitoring entities within sixty days of enactment. The Department of Science and Technology and Department of Information and Communications Technology will provide technical support in developing the implementing rules and regulations.

Singapore is revving up for another thrilling season as the Grand Prix Season Singapore (GPSS) returns, bringing together the excitement of world-class racing with the city’s vibrant cultural, lifestyle, and entertainment scene. More than a sporting spectacle, GPSS transforms Singapore into a festival ground where speed meets artistry, heritage, and community.

And this is not even the race yet. As early as September, pop-up events across the city have been building anticipation, from interactive showcases at Marina Bay Sands to exhibitions and cultural happenings in neighborhoods. The energy of GPSS can already be felt everywhere, and we cannot wait for the real race to happen from October 3 to 5.

In the heart of Chinatown, the atmosphere is electric. Chinatown Complex Food Centre, the largest hawker centre in Singapore, fills with people eager to sample local favorites, while the nearby Buddha Tooth Relic Temple and Sri Mariamman Temple draw visitors to experience the richness of the city’s diverse heritage. The colorful streets of Ann Siang Hill add to the energy, offering both history and vibrant photo opportunities for visitors who want to immerse themselves fully in Singapore’s cultural mix.

The celebrations extend beyond heritage into modern showcases. Gallery 26 welcomes fans with free entry to explore motorsport history, featuring cars once driven by Charles Leclerc and Kimi Räikkönen, alongside Carlos Sainz’s signed helmet. Meanwhile, Marina Bay Sands transforms into an interactive playground with exclusive pop-ups and team merchandise, and fashion enthusiasts can check out the Lando Ralph Lauren pop-up, creating a festive atmosphere that blends global racing culture with Singapore’s world-class hospitality.

GPSS is more than just a race weekend. It transforms the entire city into a celebration where music festivals, culinary pop-ups, fashion showcases, and art installations come together, highlighting Singapore’s vibrant, multicultural character. From savoring local flavors at bustling hawker centres to enjoying cutting-edge performances, exploring interactive exhibits, or visiting exclusive pop-ups like Lando Ralph Lauren, there is truly something for everyone to experience and remember.

The engines are warming up, the city is buzzing, and the countdown is on. With every corner of Singapore alive with excitement, Singapore comes alive as the true star, offering thrills and experiences at every turn that you cannot miss. Get ready to feel the thrill, join the celebrations, and be part of a season that promises unforgettable moments from October 3 to 5.

A GRAND party kicks off a season-long celebration commemorating the 50th anniversary of the Philippine Basketball Association (PBA).

The league gets the ball rolling at the Green Gate of the Smart Araneta Coliseum on Saturday where it will hold a four-hour Fans Day in honor of what the PBA calls its lifeblood.

Players will be interacting with the different fans club in a meet-and-greet event that also features performances by some of the country’s top bands.

Various PBA merchandises are also on sale in the venue.

From the Big Dome, the festivity then shifts to Ortigas Center later in the night when the league hosts a first ever fellowship that traces the 50-year history of Asia’s pioneering pro league.

Former and current players have been invited in the celebration at the Meralco Theater along with officials, managers, team staff, members of the press and PBA employees-all past and present.

Entertainment will be provided by Martin Nievera, Gary Valenciano and a host of others as they serenade the guests with songs from 1975 onwards-representing five decades of the PBA’s existence.

Members of the PBA’s 50 Greatest Players and Hall of Famers will also be recognized during the program, according to Commissioner Willie Marcial.

‘We’re inviting all of you to the PBA 50th year reunion where we will honor everyone who’s been involved in the league for the past 50 years,’ said Marcial as he urged everyone to extend the invitation in behalf of the league.

The celebration continues Sunday when the league holds the annual Leo Awards at the Novotel Manila, to be followed later in the day by the ushering of Season 50 at the Big Dome, and capped by the lone opening game between long-time rivals Barangay Ginebra and Magnolia.

Marcial said more former players are expected to attend the Sunday gathering.

SAN BEDA University shoots for a second straight win and a hold of the solo top spot in Pool A against debuting Lyceum of the Philippines University in the 2025 Shakey’s Super League (SSL) Preseason Unity Cup on Friday at the Paco Arena.

Game time is set at 2 p.m. with the Lady Red Spikers and the Lady Pirates clashing in a match-up that was postponed last week due to Typhoon Opong.

Facing off in the curtain-raiser at 12 p.m. are College of Saint Benilde and San Sebastian College-Recoletos in Pool D while Mapua and Letran collide in Pool C at 4 p.m. to cap the triple-header playdate of the tournament backed by Shakey’s Pizza Parlor, Peri-Peri Charcoal Chicken, Potato Corner and R and B Milk Tea.

San Beda is tied with four-peat-seeking National University in the standings following a five-set escape over Emilio Aguinaldo College, 25-19, 19-25, 20-25, 25-20, 15-10, on September 20.

Lady Red Spikers head coach Kungfu Reyes will again pin his hopes on his main gunners Angel Habacon and Janelle Bachar to bring the squad a step closer to securing a seat to the next round.

The Lady Pirates are out for redemption after falling a win short of advancing into the second round last year.

Meanwhile, the Lady Blazers are looking for a strong start in their breakthrough title campaign following a runner-up finish in the National Invitationals Batangas Leg two months ago.

Veteran Zam Nolasco, Fioana Inocentes, Shahanna Lleses, Clydel Catarig and Camila Bartolome lead the four-time NCAA champion’s charge against the Lady Stags bannered by Katherine Santos, Princess Ramos, Juna May Gonzales and Joy Deposoy.

SSC-R seeks to bounce back from a stinging 32-30, 16-25, 16-25, 18-25, defeat at the hands of University of Perpetual Help two weeks ago.

The Makabayan Bloc on Thursday strongly condemned the Senate’s recent resolution urging the International Criminal Court (ICC) to place former President Rodrigo Duterte under house arrest, calling it a political maneuver that undermines justice for thousands of victims of the government’s anti-drug campaign.

‘The Senate resolution is not about mercy or rights, but a clear cover-up of Duterte’s crimes. It is an affront to justice for the families of the victims of his drug war,’ said ACT Teachers Rep. Antonio Tinio.

Kabataan Rep. Renee Louise Co underscored the political nature of the resolution. ‘This is nothing more than a political maneuver designed to protect Duterte and his cohorts from facing the full weight of international justice. The Senate is more concerned with protecting a former president than delivering justice to thousands of victims of state-sponsored killings.’

Gabriela Rep. Sarah Elago echoed the criticism, calling the resolution ‘an insult to the families who lost loved ones in Duterte’s ruthless drug war. It is not about compassion but about perpetuating impunity.’

The bloc highlighted the irony that one of the resolution’s sponsors, Senator Ronald ‘Bato’ dela Rosa, was named as a potential co-perpetrator in the ICC document detailing three counts of murder against Duterte.

‘How can someone implicated in these crimes pass a resolution that benefits him and his former boss? This just proves that the Dutertes remain highly influential in the Philippines, and justice cannot be achieved if trials are conducted here,’ Tinio added.

The Makabayan Bloc also rejected the Senate’s humanitarian claims, noting the double standard.

‘There are numerous elderly and sick political prisoners today, yet none have been granted any Senate resolution because they lack wealth or influence. This shows a glaring imbalance and hypocrisy,’ said Elago.

‘Justice demands that Duterte face trial for his crimes. House arrest is nothing but a mockery of the legal process and an insult to the families who continue to seek accountability,’ Co stressed.

The bloc urged the ICC to proceed with prosecution without compromise, reaffirming its solidarity with families of drug war victims and commitment to genuine justice.

Acting Davao City Mayor Sebastian ‘Baste’ Duterte on Thursday filed before the Supreme Court a disbarment case against Justice Secretary Jesus Crispin Remulla and three other ranking government officials who were involved in the not connection with the arrest of former President Rodrigo Duterte and subsequent turn-over to the International Criminal Court (ICC) in The Hague, Netherlands last March.

Aside from Remulla, Duterte, through his lawyer Israelito Torreon, sought the disbarment of Defense Secretary Gilberto Teodoro, Justice Undersecretary Nicholas Felix Ty, and Prosecutor General Richard Anthony Fadullon.

Torreon, however, did not provide more details citing the confidentiality nature of disbarment proceedings.

He, however, admitted that the case was filed in relation to the arrest of the former president.

‘As to the content and the specifics, I think you know that I could not expound on the same but this is related to the kidnapping and expulsion of former president Rodrigo Duterte to The Hague, Netherlands,’ Torreon told reporters.

Last September 15, the younger Duterte filed a criminal complaint against Remulla and several other government officials also in connection with his father’s arrest.

The disbarment complaint alleges the officials’ alleged role in the handover of the former president to the ICC, where Duterte faces charges of crimes against humanity linked to his bloody anti-drug campaign.

Voting 15 affirmative with 3 negative and 2 abstentions, the Senate on Wednesday adopted a resolution asking the International Criminal Court (ICC) to consider allowing former President Rodrigo Roa Duterte to be placed on house arrest for humanitarian reasons.

Senate Resolution 144, initiated by Minority Leader Alan Peter Cayetano-Duterte’s vice presidential running mate in the 2016 elections-came days after Duterte’s daughter Sara claimed that he was ‘found unconscious’ in his detention cell in The Hague.

All nine minority senators voted in the affirmative for SR 144.

The negative votes were cast by Senators Risa Hontiveros, Bam Aquino and Kiko Pangilinan.

Senate President Vicente Sotto III and Sen. Raffy Tulfo abstained.

Explaining his vote, Sotto said, ‘I am faced with two difficult’ choices that both align with his principles: affording the former president a comfortable surroundings, while taking into consideration the plight of families seeking justice for crimes against humanity-the charge in the ICC against Duterte, for his dirty war on drugs that reportedly killed thousands without due process.

While he described himself as ‘supportive’ of any efforts to afford the former president – whom his family and lawyer claims suffers a host of medical issues, Sotto worried that ‘my choice’ in the vote on SR 144 might even further divide the nation. Hence, his abstention.

Explaining her negative vote, Hontiveros said that while the senators push for an interim release has been couched in humanitarian terms, its flipside is that it further signals the selective justice system in the country, where other suspects who have not been adjudged guilty are detained for years, despite health issues.

Hontiveros added that the resolution was premature because it was not based on facts, as there is no showing that the ICC has been remiss in caring for Duterte in detention.

Despite Vice President Sara Duterte’s claims about the ‘found unconscious’ and related circumstances, other video reports had other family members who visited the former President as saying ‘he is well, even jolly,’ at kaya pa ngang makipag-usap tungkol sa maraming topic kasama ang politika, flood control at love life [and can even discuss many topics including politics, flood control and love life],’ Hontiveros added.

Besides Alan Cayetano, those who voted for the resolution are Senators Ronald ‘Bato’ dela Rosa, Christopher Lawrence Go, Jinggoy Estrada, JV Ejercito, Sherwin Gatchalian, Imee Marcos, Robin Padilla, Rodante Marcoleta, Erwin Tulfo, Joel Villanueva, Loren Legarda, Mark Villar, Panfilo Lacson and Majority Leader Juan Miguel Zubiri.

Krelz Gecosala and Kresthan Belacas stole the spotlight in the boys’ division of the Gov. Edwin Jubahib National Juniors Tennis Championships held over the weekend at the DavNor Sports Complex and Tagum City courts in Davao del Norte.

Gecosala, seeded fifth, stunned the field in the boys’ 18-and-under category, winning three straight matches before overpowering No. 4 seed Kurt Alcantara, 6-1, 6-3, in the final. The 16-year-old from Midsayap, North Cotabato also dominated the 16-and-under division, dropping just eight games in three matches, capped by a 6-4, 6-1 win over Wallaen Cabigas.

Belacas, from Mlang, Cotabato, excelled in the younger age groups. He edged Tyronne Caro, 7-5, 6-3, to win the 12-and-under title, then claimed the 14-and-under crown after Caro retired in the second set, trailing 3-6, 4-2.

Their twin victories earned them co-MVP honors, joined by Faith Lazaro of Tagum City, who impressed in the girls’ division.

Lazaro ended Ayl Gonzaga’s winning streak in the Palawan Pawnshop junior circuit with a gritty 0-6, 6-4, 6-2 semifinal comeback. She went on to win the 16-and-under title, 6-2, 6-2, over Telko Ello. Though she lost the 18-and-under finals to Sultan Kudarat’s Sanschena Francisco, 6-3, 6-3, her overall performance secured her a share of the MVP award.

Gonzaga bounced back by winning the girls’ 14-and-under title, 6-2, 6-2, over doubles partner Justine Gumbao, repeating her success in Sultan Kudarat.

Maureen Mamaba (Davao de Oro) upset Alexandrea Bendoy, 6-3, 6-3, to win the girls’ 12-and-under title.

Brandon Luchavez, unseeded, captured the 10-and-under unisex crown, beating top seed Storm Tozer, 5-4(3), 4-0.

Gonzaga also bagged two doubles titles. With Gumbao, she routed Sam Rodriguez and Shan Tuyor, 8-1, in the 14-and-under finals.

She then teamed up with Francisco to defeat Ello and Yana Reyes, 8-3, in the 18-and-under finals.

In boys’ doubles, Alcantara and Cabigas won the 18-and-under title, 8-5, over Harinne Antiola and Jaime Gultiano.

Caro and Gecosala took the 14-and-under crown, beating Belacas and Dimzon, 8-3.

The Group 2 tournament, presented by Dunlop and sanctioned by Philta, was supported by Universal Tennis and ICON Golf and Sports.

LOANS extended by Universal and Commercial Banks (UKBs) posted their slowest growth in nine months, according to the Bangko Sentral ng Pilipinas (BSP).

BSP data showed loans from UKBs grew 11.2 percent in August 2025, the slowest since the 11.1 percent posted in November 2024. In April 2025, these loans also grew 11.2 percent.

The data showed that after adjusting for seasonal fluctuations, outstanding UKB loans increased by 0.4 percent month-on-month in August.

‘The BSP monitors bank loans because they are a key transmission channel of monetary policy. Looking ahead, the BSP will ensure that domestic liquidity and bank lending conditions remain consistent with its price and financial stability mandates,’ BSP said.

Outstanding loans to residents grew by 11.6 percent in August-also the slowest posted since the 11.4 percent in November 2024.

BSP also said outstanding loans to non-residents recorded a decline of 5.9 percent in August, an improvement from the contraction of 8.1 in July, but a reversal from the 1.5-percent growth posted in August 2024.

Loans meant to finance business activities grew 9.9 percent in August 2025, the slowest since the 9.8 percent recorded in November 2024. Last year, loans for these establishments saw a 9.4 percent increase.

BSP said lending increased for real estate activities at 11 percent; electricity, gas, steam, and air-conditioning supply, 28.1 percent; wholesale and retail trade, repair of motor vehicles and motorcycles, 8.1 percent; financial and insurance activities, 6.9 percent; and information and communication, 7.5 percent.

Meanwhile, consumer loans to residents-which included credit card, motor vehicle, and general-purpose salary loans-increased by 23.9 percent the fastest since the 24 posted in June 2025.

The data showed credit card loans posted a 29.7-percent growth, the highest since the 29.9 percent posted in June while Motor Vehicle Loans grew 19.4 percent, the fastest in eight months or December 2024 when these borrowings increased 19.5 percent.

Salary-Based General Purpose Consumption Loans, meanwhile, grew 6.4 percent in August 2025. This is the slowest in over three years or May 2022 when these borrowings posted a 6.3 percent growth.

The BSP data also showed other consumer loans grew 20.1 percent in August 2025, the slowest since the 15.8 percent recorded three years ago or August 2022.

Meanwhile, with the increase in loans, the BSP reported that domestic liquidity or M3, the amount of money in the economy, grew by 6.6 percent year-on-year, the fastest growth since January 2025.

Domestic liquidity is about P18.59 trillion in August 2025, the lowest level recorded since the P18.54 trillion posted in June 2025.

‘M3 is a broad measure of money supply that includes currencies in circulation, bank deposits, and other financial assets that are easily convertible to cash,’ BSP said.

The BSP said M3 is a driver of money supply, claims on the domestic sector, which includes private and government entities in the country, rose by 9.8 percent year-on-year in August from 10.5 percent in July.

‘Claims on a sector represent that sector’s liabilities to depository corporations [e.g., banks and the central bank],’ BSP said.

Claims on the private sector alone grew by 11.1 percent in August from 11 percent in the previous month, driven by the continued expansion in bank lending to non-financial private corporations and households.

Net claims on the central government increased by 6.1 percent from 7.1 percent in the previous month, driven by its higher borrowings.

Net foreign assets (NFA) in peso terms rose by 4.8 percent year-on-year in August from the 0.6-percent decline in July. NFA represents the difference between claims on nonresidents and liabilities to nonresidents of depository corporations.

The BSP’s NFA increased by 0.7 percent. The banks’ NFA also grew amid a decline in their foreign currency-denominated bills payable.

Biyaheros, get ready for an earlier Sunday adventure!

Beginning on September 28, popular travel show Biyahe ni Drew can now be seen on a new timeslot, promising more thrilling and captivating adventures that viewers should not miss. Hosted by award-winning host and ‘ultimate biyahero’ Drew Arellano, the program airs every Sunday at 6:10 pm on GTV.

Last week, Biyahe ni Drew kicked off its new schedule with an adventure to the breathtaking province of Sarangani, known for its stunning landscapes and rich culture. Drew was joined by Encantadia Chronicles: Sang’gre’s Ashley Rivera.

The pair took on the exhilarating challenge of white-water tubing on the Pangi River, recognized as one of the cleanest rivers in Mindanao. Known for his adventurous spirit, Drew put his skills to the test, with Ashley right there with him ready for the action.

The friendly rivalry continued in the kitchen as Drew and Ashley faced off in a cooking showdown. Using vannamei shrimp, they competed to see who could whip up the most delicious dish. They also tried tinagtag, a local delicacy prepared using a unique cooking method.

Biyahe ni Drew airs Sundays at 6:10 pm on GTV. Global Pinoys can also tune in via the GMA International channel, GMA Life TV.

Ayala Land Inc. on Thursday said it will spend some P10.3 billion to develop Ascenda, a 204-hectare, master-planned, nature-inspired development in Davao.

The said development will be done through a joint venture with the Floirendo family’s ANFLO Management and Investment Corp. (Anflocor), the company said.

‘Davao is truly a city on the rise, with its economic growth outpacing the national average. Major infrastructure projects-the Samal-Davao Bridge, the Coastal Road and the Davao Bypass Road – are unlocking new connectivity and opportunities.

Ascenda is well positioned to benefit from Davao’s momentum, providing Davaoeños new space to grow and an environment attuned to their modern, upgraded lifestyles,’ Anna Ma. Margarita B. Dy, Ayala Land president and CEO, said.

Ascenda marks a series of firsts for Ayala Land in the region. It is the first Ayala horizontal estate in Mindanao.

It will have the only Ayala Land Premier residential village, Virendo, in Davao. The estate is also the first major development that will benefit from the new Davao by-pass road, complementing the newly completed Coastal Road and Maharlika Highway system, cutting travel time from Davao City proper from 45 mins to 25 mins, and from Matina from 25 minutes to 15 minutes.

Ascenda is located in Davao’s Toril District, 16 kilometers from the city center. The estate is close enough for residents and businesses to connect with the busier side of Davao life but far enough to enjoy and commune with the peace and beauty of nature, which are front and center of Ascenda’s development philosophy.

‘Davao has been in Ayala’s radar since the 1970s,’ Dy said. ‘We were the first major property developer to invest in Davao City when we launched Insular Village in 1976. Then, in 2007, we developed Abreeza, and then Azuela Cove in 2017. Now the time has come for us to go full blast here in Davao with our largest estate development ever in the VisMin region.’

Ayala Land said it worked with acclaimed design firm Henning Larsen to shape the estate’s land use. Inspired by Singapore’s Bishan Park, which Henning Larsen redeveloped, the estate’s design preserves green corridors and waterways, integrates open spaces, and seamlessly weaves nature into the urban landscape. This thoughtful design not only enhances livability but also positions Ascenda as a model for sustainable and future-ready communities in the region.

It will have a 65-hectare Town Center, which features commercial district, an eco-park, among others.

‘We refer to Ascenda as ‘Davao’s Nature-Inspired Southern Gateway’ because it draws from Ayala Land’s experience in masterplanning large-scale suburban estates that place nature at the top of their value proposition,’ Dy said.