Category: Business Mirror

Private-sector workers may refuse to report for work without facing administrative sanctions when severe weather or similar events pose an imminent danger to their safety and health, according to the Department of Labor and Employment (Dole).

The protection is contained in Labor Advisory No. 14, Series of 2026, which updates the rules on work suspensions during weather disturbances and other disruptive events.

Labor Secretary Francis N. Tolentino signed the advisory on Aug. 19 amid recent flooding and weather disturbances that have affected workers and communities nationwide.

Under the guidelines, workers who fail or refuse to work because of imminent danger arising from weather disturbances or similar occurrences cannot be subjected to administrative penalties.

Employers may also suspend operations when conditions threaten workers’ safety, in coordination with their safety and health committee, safety officer or another responsible company official.

However, the advisory does not automatically guarantee pay when work is suspended.

Employees who do not report because of a work suspension are generally not entitled to regular pay unless a company policy, established practice or collective bargaining agreement provides otherwise.

Workers may instead use accrued leave credits if their employer allows it.

Those who report for duty and work for at least six hours are entitled to their full regular pay.

Employees who render less than six hours will receive pay proportionate to the hours worked, unless more favorable company policies or practices apply.

Employers may also grant additional incentives or benefits to employees who still report for work during severe weather and similar disruptions.

Labor Advisory No. 14 updates guidelines issued in November 2025 covering workers exposed to imminent danger from disruptive events.

The earlier rules covered not only natural disasters but also industrial accidents and public health emergencies.

DOLE said the updated policy is intended to keep workplace safety protections in place during emergencies while allowing businesses to respond to disruptions.

DON’T ask Eumir Felix Marcial about his dream of winning an Asian Games gold medal next month, ask him instead about his eighth professional fight that’s scheduled on the very same day the games open on September 19 in Nagoya.

‘Let’s not talk about the Asian Games for the meantime,’ Marcial told the BusinessMirror on Thursday just hours after it was announced that he’ll be defending his World Boxing Council (WBC) middleweight international belt against American Omar Ulises Huerta at the Pechanga Arena in San Diego, California.

‘I’m extremely focused on this fight,’ added the 30-year-old two-time Olympian who owns a middleweight bronze medal from Tokyo 2020.

Marcial always expresses that although the Asian Games rank high in his priorities, a similarly intense dream to become a pro boxing world champion are that high, too.

‘There’s another regional belt that would be staked in this fight, and it could lead to my dream of fighting for a world title,’ he said. ‘It won’t be easy that’s why I must give my entire time and focus on this one.’

On Monday, Philippine Olympic Committee president Abraham Tolentino said Marcial remains on the list of boxers for the Asian Games and that with his fight set on September 19 and with a high confidence level that he’d win, he’ll have enough time for recovery because the boxing competitions in Nagoya start on September 24.

Tolentino said Marcial ranks as a gold medal potential-he settled for silver losing to a Chinese in the final last 2023 in Hangzhou-alongside Tokyo Olympics silver medalists Carlo Paalam and Nesthy Petecio, as well as Aira Villegas, who like Petecio, clinched bronze in Paris two years ago.

Marcial is now in deep training at the Knuckleheads Gym in Las Vegas under the tight watch of Reynaldo Galido, gold medalist at the Hiroshima 1994 Asian Games and a 1996 Atlanta Olympian.

His main trainer, American Kaye Koroma, is focused on improving the quality of the Zamboanga City pride’s power punches, speed, agility and ring smart-ingredients needed to beat Huerta, who similarly has a burning passion to become a world champion.

Huerta was on a winning streak in 15 fights-13 of his opponents he knocked out-until fellow American Vieto Mielnicki Jr. beat him via unanimous decision last April 11 in New Jersey.

That, according to Marcial, makes his opponent dangerous.

‘It’s going to be dangerous because he is coming from a loss after an undefeated streak,’ said Marcial, ‘and he’s got an experience.’

Marcial is 7-0 with four knockouts but his last fight was almost a year ago-October 29 in the ‘Thrilla in Manila II’ at the Smart Araneta Coliseum-and it was a controversial majority decision over Venezuelan Eddy Colmenares.

He was knocked down in that fight.

Marcial fought at the Bangkok Asian Games last December 19 and won the light heavyweight gold medal, 4-1, over Indonesia’s Maikhel Roberrd Muskita.

The Mandaue City Government will distribute security equipment to public schools and expand police visibility in and around campuses as part of efforts to strengthen protection against school violence.

According to the Mandaue City Public Affairs Office, the city will provide seven walk-through metal detectors, 50 handheld metal detectors and mobile phones that can be used for Zoom live streaming in public schools, Mayor Thadeo ‘Jonkie’ Ouano said following a multi-agency meeting on school safety on Wednesday, Aug. 19.

The meeting brought together the Mandaue City Police Office (MCPO), Department of Education-Mandaue City (DepEd-Mandaue), and various city government offices to discuss measures aimed at keeping students and school personnel safe.

Ouano directed the police to increase their presence in schools, particularly during periods when students are most vulnerable, including mornings, lunch breaks, afternoons, and night classes.

The mayor said stronger police visibility is necessary to deter incidents of violence and help ensure that students can exercise their right to learn in a safe environment.

The city also emphasized the need to remain prepared for violent incidents and other emergencies that could threaten students, teachers and other school personnel.

DepEd Mandaue said it continues to conduct information drives in schools on precautionary measures, including what students and school personnel should do in case of an active school shooting.

The department also noted that, following a June 24 meeting, Barangay Peacekeeping and Security Officers (BPSOs) have become more visible in schools within their respective barangays. Their presence is intended to help prevent unauthorized individuals from entering school premises.

Meanwhile, the Mandaue City Substance Abuse and Mental Health Services Office (SAMHSO) and the City Social Welfare Services Office (CSWSO) reported that they are strengthening programs and services for schools, particularly psychological interventions and other mental health support for students.

SAMHSO also plans to expand seminars for parents, with emphasis on effective communication with children and the use of positive parenting approaches.

The city government and concerned agencies also discussed the development of policies and procedures to further safeguard students and teachers while maintaining a peaceful, secure, and conducive learning environment.

Getting sick in the Philippines is no longer just a health concern. For many families, it has become a financial emergency.

This is one of the key findings of Cocolife Idea Hub’s 2026 Emergency and Medical Preparedness Study, titled Ready or At Risk?, which assessed how Filipinos prepare for medical emergencies and the financial challenges they face when illness strikes.

According to the study, only 1 in 6 Filipinos (16%) considered themselves truly prepared for a medical emergency. Nearly half said they felt uncertain or unprepared to manage the financial impact of unexpected hospitalization, suggesting a persistent gap in financial readiness among Filipino households.

The study also found that 62% of respondents had experienced at least one emergency room visit or hospitalization within the past year. For many, medical emergencies are no longer rare events but recurring experiences they must face.

However, financial safety nets remain thin. Sixty-four percent said their emergency funds would cover no more than three days of hospitalization. By comparison, data from the Philippine Institute for Development Studies (PIDS) estimates that the average inpatient stay lasts 5.18 days and costs around PHP82,000. This gap leaves families vulnerable to healthcare expenses that stretch far beyond their savings.

Beyond inpatient care, ongoing health costs add to the pressure. Seven in 10 respondents visit a doctor at least once a year, often paying for routine consultations and tests out-of-pocket due to a lack of outpatient healthcare coverage.

‘Medical emergencies should not be the source of financial ruin for Filipino families,’ said Ma. Rowena Asnan, Cocolife First Vice-President of Marketing and Research. ‘Our study underscores an urgent need to bridge the gap between healthcare reality and financial readiness, ensuring our countrymen have reliable support when they need it most.’

To address these real-world challenges, Cocolife continues to strengthen its Alagang Cocolife brand of care by bringing together its comprehensive suite of health-focused solutions, backed by nearly 48 years of serving Filipinos.

Under the Alagang Cocolife portfolio are Cocolife Aruga, the Philippines’ first results-oriented life and health insurance plan; Cocolife Agapay, an investment-linked life and health solution that combines protection with long-term savings; Cocolife Kalinga, an affordable term life and health insurance plan; and the Critical Illness Benefit Rider and Hospitalization Income Benefit Rider, which provide additional financial support during serious illness and hospital confinement.

Beyond individual protection, Cocolife Healthcare extends this commitment to organizations through more than 25 years of experience providing healthcare solutions for companies nationwide. As the country’s first ISO 9001:2015-certified healthcare program provider, it continues to partner with leading hospitals, clinics, and healthcare platforms to help support the health and well-being of Filipino employees and their families.

As Filipinos continue to navigate rising healthcare costs, the study highlights the importance of proactive financial preparation. Through Alagang Cocolife, Cocolife remains steadfast in delivering practical protection that empowers Filipinos to face the future with confidence and peace of mind.

A quarter-point rate hike looms as inflation risks ‘broaden’ and policy credibility takes priority, according to Bank of the Philippine Islands’ (BPI) Lead Economist.

In a commentary he wrote, BPI Senior Vice President and Lead Economist Emilio S. Neri Jr. said the lender expects the Bangko Sentral ng Pilipinas (BSP) to deliver a 25-basis point rate hike at next Thursday’s policy meeting, with inflation risks remaining ’tilted to the upside’ despite the recent moderation in headline inflation.

According to Neri, adverse weather remains a ‘key concern,’ with habagat-driven monsoon rains and flooding raising the risk of further crop damage just as food supply conditions were beginning to stabilize.

‘Elevated domestic fertilizer prices could further add to farm input costs as the planting season gets underway in the coming months,’ Neri said in the commentary issued last Thursday.

Looking ahead, he said the potential onset of a Super El Niño in the latter part of the year could ‘compound’ agricultural supply disruptions and keep food prices elevated into 2027.

During the Development Budget Coordination Committee (DBCC) briefing last Monday, BSP Deputy Governor Zeno Ronald R. Abenoja said the central bank will update its inflation forecasts in accordance with the ‘risk factors’ that it is currently tracking.

‘One of them is the price of crude oil in the international market. Second, the potential effect of El Niño which the peak impact will be experienced in the fourth quarter of 2026 until the first half of 2027,’ added Abenoja.

In his commentary four days later, Neri wrote that oil prices remain ‘volatile’ as US-Iran talks swing between de-escalation and renewed tensions, while rising producer prices in China add another channel for imported cost pressures.

Further, he said the approved NCR wage hike, once implemented, would add to domestic inflation pressures by raising labor costs, particularly in labor-intensive services.

‘Beyond the direct impact on prices, potential second-round effects could make inflation more persistent as businesses pass higher labor costs through to consumers,’ Neri added.

Taken together, he said these risks increase the likelihood of inflation lingering above the central bank’s target range through 2027.

APART from domestic inflation woes, Neri said a sharper depreciation in the local currency ‘would amplify’ imported inflation, which may require tighter policy even if the underlying shock remains ‘largely supply-driven.’

He cited that the country’s gross international reserves (GIR) have ‘declined significantly’ to $103 billion as of July, from $113 billion at the onset of the US-Iran war in late February.

While reserves remain ‘adequate by traditional metrics,’ Neri emphasized that ‘the sustained drawdown points to a gradual erosion of the Philippines’ external buffers.’

‘Without a rate hike, a faster depletion of GIR from spot-market intervention could add to Peso weakness and further lift inflation expectations,’ he stressed.

Within the trading session on Wednesday, the Philippine peso hit its all-time weakest intraday level of 61.995 but recovered as it closed at 61.815 against the dollar, data from the Bankers Association of the Philippines (BAP) showed. (See: https://businessmirror.com.ph/2026/08/19/rate-hike-may-be-good-defense-for-philippine-peso/)

Monetary policy

NERI also emphasized that monetary authorities staying their hands in an effort to support growth could risk allowing inflation expectations to become less anchored without addressing the underlying supply constraints.’

He said monetary policy can manage cyclical demand but cannot address constraints on potential output, hence leaving ‘limited scope’ for lower rates to offset a ‘predominantly’ supply-driven shock.

Neri explained further that the ‘binding constraint’ on Philippine growth is increasingly structural rather than cyclical, with governance challenges also weighing on economic activity, something monetary policy cannot remedy.

‘The more durable solution lies in advancing reforms across government, from infrastructure execution and agricultural productivity to energy security,’ said Neri.

A 25-basis-point hike, he said, would therefore be ‘consistent’ with the Monetary Board prioritizing price stability while ‘leaving the burden of addressing supply-side constraints where it belongs: with structural and fiscal policy.’

As such, Neri said tighter monetary policy to address inflation would therefore ‘reinforce’ the need for the fiscal side to accelerate reforms, improve spending execution, and tackle bottlenecks that monetary policy cannot resolve.

KPC Importation Services is strengthening its support for Filipino entrepreneurs through its weekly ‘Importing Masterclass: The Strategic Way to Start a Business,’ an online training program designed to help aspiring and existing business owners better understand international sourcing, supplier verification, and the importation process.

Held every Sunday at 6 p.m. via Google Meet, the masterclass forms part of KPC’s continuing commitment to educate aspiring entrepreneurs, existing business owners, working students, overseas Filipino workers, and other Filipinos who want to learn how to import smarter and start a business more efficiently.

The program covers KPC’s history and key milestones, strategic product sourcing through Alibaba, supplier negotiation and legitimacy verification, and the creation and optimization of an Alibaba account. Participants are also introduced to the process of creating a KPC account and securing a KPC Code, as well as the company’s importation routes, extended services, and the strategic advantages of importing with KPC.

The training aims to address common challenges faced by first-time importers, particularly in finding legitimate suppliers, identifying products with market potential, and understanding the processes involved before bringing goods into the Philippines. For existing business owners, the masterclass also provides an opportunity to strengthen sourcing strategies, explore new product categories, and improve supply chain operations.

KPC’s importer education initiatives extend beyond its weekly sessions. In November 2025, KPC Importation Services and Alibaba.com conducted an Advanced Workshop on Alibaba.com Trading and Global Market Expansion, attended by hundreds of business owners from across the country. The workshop provided participants with insights on international sourcing, supplier verification, and opportunities in global trade.

The initiatives reflect KPC’s broader direction as more than a traditional Freight Forwarder in the Philippines, with the company expanding its role to include sourcing education, importer training, and business development support.

‘Kilala nila si KPC as a forwarder, but we don’t just ship the products; we cater to the whole 360 part of the business. Ini-empower namin yung mga clients namin. More than their shipments, priority namin ang growth nila,’ said Mr. Khelvin P. Cruz, CPA, MBA, CEO of KPC Importation Services.

Through this approach, KPC continues to position itself as a Trusted Freight Forwarder that goes beyond importing packages, helping Filipino entrepreneurs gain access not only to logistics services but also to knowledge, sourcing opportunities, and supplier networks that can support long-term business growth.

LOOK who’s bitten by the pickleball bug? Paris Olympics double gold medalist Carlos Yulo.

‘It’s been raining all the time so I train here at home,’ said Yulo, who bought a house in Alabang where he stays most of the time. ‘And I cross-train in pickleball, and even badminton.’

Pickleball has gotten so popular that global sports icon are playing the leisure sport that’s a cross among tennis, badminton and table tennis.

‘These sports [pickleball and badminton] are very important for the mobilization of muscles and mind as well,’ said the 60-year-old three-time world champion, who plays with brother Karl Eldrew and friends but under the keen monitoring of physiotherapist Bethel Solano.

‘But of course, we always go down to serious training in Intramuros,’ said Yulo, who’s hell bent at winning his first Asian Games gold medal in Aichi-Nagoya.

‘That’s the only one missing,’ said Yulo, stressing he targets not just one but multiple gold medals to redeem himself after going empty in Hangzhou three years ago.

‘I want not just one, but more,’ he said. ‘I will do my best to win the floor, vault and individual all-around.’

The Yulo brothers will lead a 14-athlete gymnastics team to the Asian Games.

They are Juancho Miguel Besana, Justine Ace de Leon, Zachary Cortins Nuñez, Levi Ruivivar, Kylee Kvamme, Chiara Dawn Andrew, Lauren Supnet and Haylee Garcia in artistic gymnastics; Breanna Labadan and Jasmine Althea Romulo in rhythmic gymnastics; and Jerry Ilano Jr. and Luvicar Janine Padilla in trampoline gymnastics.

After the Asian Games, Yulo will head to the world championships in Rotterdam in The Netherlands from October 17 to 25.

MSD in the Philippines (NYSE: MRK), a trade name of Merck and Co., Inc, Rahway, NJ, USA, today announced the appointment of Mary Srethapakdi as Managing Director for the Philippines, while concurrently leading MSD’s operations in Thailand. She succeeds Andreas Riedel, who has been appointed Managing Director for MSD Vietnam.

With more than 20 years of experience in the pharmaceutical and healthcare sectors, Srethapakdi has held senior leadership roles at leading healthcare companies and advised healthcare organizations globally during her tenure at Boston Consulting Group. Since joining MSD as Managing Director for Thailand in 2021, she has driven business growth and advanced initiatives to improve patient access. She holds a Bachelor of Arts in Biochemistry and a PhD in Molecular Biology from Cornell University.

With this new appointment, Ms. Srethapakdi will lead the company’s efforts to expand access to innovative medicines and vaccines, strengthen healthcare partnerships, and address the evolving needs of Filipino patients.

She said her priorities include deepening collaboration with healthcare stakeholders and improving patient access across the country.

‘I am honored to lead MSD in the Philippines at a critical juncture, when health is a pronounced priority in the public and private sectors,’ Srethapakdi said. For over three decades in the Philippines, MSD has worked with government, healthcare professionals, patient advocacy groups, industry partners, and health champions in the Philippines to advance medical innovation and patient care. ‘Today, we reaffirm this commitment to help bring broader access to innovative medicines and vaccines, with the aim of delivering better health outcomes for Filipino patients.

DESPITE a sharp reduction in this year’s privatization revenue target, the Privatization and Management Office (PMO) will push through the sale of several big-ticket assets by year’s end.

On the sidelines of HSBC’s flagship event on Tuesday, Chief Privatization Officer and Finance Undersecretary Michael Peter A. Alejandro told reporters the three flagship assets in the pipeline will remain for disposal in the second half of the year.

These assets include the Mile Long building in Makati City, targeted for disposition by the end of the third quarter, as well as Food Terminal Inc. (FTI) and the government’s 20-percent stake in the South Luzon Expressway (SLEX) slated for sale in the fourth quarter.

The government is currently conducting appraisals for the properties, which will have to undergo the required approval process before they can be offered for sale.

‘We’re looking forward to FTI and Mile Long. We’re really getting things rolling for that,’ Alejandro said.

Any of the planned 2026 asset sales that do not push through this year would instead be carried over to 2027, he noted.

In the first half of the year, the government generated P1.9 billion in privatization revenues, Alejandro said, nearly matching the P2 billion raised in 2025.

However, this accounts for only 4.9 percent of this year’s lowered privatization revenue target of P38.1 billion, recently adjusted by the Cabinet-level Development Budget Coordination Committee (DBCC).

The supposed target of P101 billion was moved to 2027 due to ‘accounting issues,’ Alejandro said, as the government expects proceeds from the sale of the Caliraya-Botocan-Kalayaan (CBK) hydropower assets to come in next year.

About P36.27 billion in proceeds from CBK’s privatization will be remitted, while the Agus-Pulangi hydropower complex is also being considered for a transaction next year.

Alejandro said the government is exploring a public-private partnership (PPP) for the hydroelectric complex located in Mindanao.

The Agus-Pulangi hydropower complex consists of seven run-of-river hydroelectric power plants with a combined installed capacity of 1,000 megawatts (MW), but only 700MW are operational due to aging infrastructure.

The Department of Energy has said that the government may award the contract by the end of 2026 to rehabilitate the hydro asset. The Power Sector Assets and Liabilities Management Corp. (Psalm) is also evaluating two unsolicited proposals.

The government is also expecting around P800 million from the disposal of smaller assets next year, Alejandro said.

There are over 28,000 titles, mostly small assets measuring about 200 square meters, up for sale, according to the Department of Finance.

By privatizing state assets, the government monetizes underutilized assets and generates additional funding for public spending.

This year, the government aims to raise P4.807 trillion in revenues, of which P327 billion will come from non-tax revenues.

‘The world is full of ghosts, and some of them are still people.’­-Peter Straub, ‘The Throat’

AUGUST 13 to September 19 this year is known as the ghost month. It is the seventh month of the lunar year.

Chinese Taoist and Buddhist cultures view it as not a promising period because it is believed to be the time when the gates of the afterlife open for the spirits to roam the earth. There are superstitious traditions or practices observed in some countries. But some view it as a period of piety, charity, and gratitude rather than a time for fear.

Still, many believe it is not a good time to make life changing decisions, that it is inauspicious timing to make huge financial commitments such as starting new ventures, clinching of new contracts because the roaming spirits may bring bad luck.

Thus, many believe it is a matter of faith and folklore rather than a fact.

Yet at times, facts tend to lead one to consider what may be folklore. Allow me to cite a few updates.

According to a domestic bank’s recent blog, historically, August has been one of the worst performing months for the PCOMP (Philippines Stock Exchange PSE Index) with an average return of -2.48 percent with 20 out of 30 years (66 percent hit rate) being negative since 1992.

On Wall Street, August is the month associated with the worst performances for the Dow Jones Industrial Average and SandP 500 index, the blog reads.

At the start of the ghost month, an international publishing company reported that Europe’s fifth heat wave of the summer is set to peak on August 13, the latest in a string of extreme weather events that have strained health systems and energy networks across the region. A series of high-pressure heat domes has put the United Kingdom on track for its hottest ever summer.

On the same day, the Philippine peso closed weaker at P61.343 against the US dollar, slipping back over the threshold of P61.00. Analysts say it is due to regional profit taking, ongoing Middle East uncertainty, and macroeconomic pressures.

One may wonder if indeed during the ghost month, one should avoid making major life changes.

In fact, it is observed during the ghost month, investors rest and avoid trading, and hence, usually, at this time, markets are dull and are in a lull and that trading volumes are lower than in other periods.

But for those who do not believe or follow Chinese superstitions, life goes on because they look at market prices as driven by basic economic fundamentals, corporate earnings, and real world news, not folklore, not superstitions. Hence, look at what’s happening in Wall Street: on August 13, 2026, (again, the start of ghost month), the SandP 500 had in fact set a new record high of 7,798! So, is this the ghost month or not?

Wise investors see financial opportunity in a reduced market activity. There is window for long term investors to take advantage of the ‘dips’ and bargain hunting. As they say, ‘buy the dip, and sell the rip’ for later when the market becomes vibrant again.

So ghost month: ‘Careful, careful?’ Or ‘go, go, go?,’ for after all, while ‘the world is full of ghosts, some of them are still people,’ per American novelist Peter Straub.

Conchita L. Manabat is an incorporator and the president of the Development Center for Finance, an incorporator and Trustee of San Carlos School of Cebu Inc. and a Trustee of the Coalition of Services for the Elderly. Dr. Manabat is also an incorporator of and Lifetime Fellow at the Institute of Corporate Directors, a member of the Stakeholder Advisory Council of the International Federation for Ethics and Audit, and chair of the Advisory Council of the International Association of Financial Executives Institutes. The views and opinions she expressed herein are hers and do not necessarily represent the BusinessMirror.