Category: Business Mirror

THE Department of Agriculture (DA) and local producers agreed to set a minimum farmgate price for live hogs at P210 per kilo as the liveweight price plunged to the break-even point.

This, after local producers warned that farmgate prices had plummeted between P150 and P180 per kilo, which they said was barely enough to cover production costs for backyard and commercial raisers.

Industry groups included in the discussion were Samahang Industriya ng Agrikultura (SINAG), National Federation of Hog Farmers Inc. (NatFed), and the Pork Producers Federation of the Philippines (ProPork).

‘Farmgate prices have fallen sharply, yet consumers haven’t felt any relief,’ Agriculture Secretary Francisco Tiu Laurel Jr. said. ‘During my market visits, I’ve seen liempo still selling for around P400 a kilo.’

The government and industry groups would also recommend reinstating the tariffs levied on pork to 40 percent from the current 25 percent, citing cheaper foreign shipments as among the rationales behind the swine industry’s predicament.

‘Lower import duties have encouraged over-importation,’ Tiu Laurel said. ‘This has flooded the market, squeezed local producers, and endangered both our food security and farmers’ livelihoods.’

He added that the DA would also issue an order to reclassify pork jowls, currently treated as offal, so that they can be levied a higher tariff. Jowls, a cut popular in Korean barbecue, have gained increasing demand from meat processors.

Furthermore, the agency was mulling over restoring a maximum suggested retail price (MSRP) for pork.

The level would be determined ‘carefully’ to balance profitability across the supply chain and consumer protection, the DA added.

With this, Tiu Laurel ordered the Agribusiness and Marketing Assistance Service (AMAS) and the National Meat Inspection Service (NMIS) to intensify monitoring to ensure transparency and fair trade.

He said supermarkets should clearly label frozen meat products and avoid misrepresenting them as fresh, while retailers selling frozen items must maintain proper chillers and freezers.

‘These measures are intended to stabilize prices, protect local producers, and safeguard consumers amid persistent volatility in the pork market.’

The prevailing retail price of pork ham in Metro Manila markets stood at P360 per kilo, while pork belly is being sold at P400 per kilo, based on the latest government price monitoring report.

Implementing the right policies is a necessary condition to effect the changes that will allow the Philippines to achieve its climate goals. This has been aptly demonstrated by the statistics on the country’s forest cover based on the latest report of the Food and Agriculture Organization of the Philippines (FAO). The report titled ‘Global Forest Resources Assessment 2025′ indicated that the country’s forest cover expanded by 212,241 hectares in 2020.

The report noted that the president of the Philippines issued directives that allowed agencies to protect the remaining forest resources of the country in February 2011. The FAO report cited Executive Order 23, which declared a moratorium on the cutting and harvesting of timber in the natural and residual forests and created the anti-illegal logging task force. The government also issued EO 26 to implement the National Greening Program and EO 193, which expanded the coverage of the National Greening Program to cover the rehabilitation of all the remaining denuded and degraded forestlands not covered by EO 26 and extended the period of the program up to 2028.

Prior to 2011, the FAO report noted that the Philippine government permitted the harvesting of trees in natural and residual forests. This led to the decrease in the country’s forest cover from 1990 to 2010. Data provided in the report indicated that the Philippines’ forest cover in 1990 reached nearly 7.78 million hectares, which shrank to 6.839 million hectares in 2010.

These policies, the report noted, allowed the Philippines to increase its forest cover to 7.226 million hectares in 2020 from 7.014 hectares in 2015. This development bodes well not only for biodiversity and regulating climate, but it is also beneficial for the agriculture sector. According to the UNDP, healthy forests play a crucial role in maintaining soil fertility, regulating water cycles and supporting biodiversity-all of which are essential for productive agriculture.

In Ecuador, for instance, UNDP said a partnership between the government, a private company and local coffee farmers highlights the vital connection between coffee cultivation and forest conservation. Coffee, one of the world’s most beloved beverages, is heavily dependent on healthy ecosystems, with forests playing a critical role in maintaining the climate conditions necessary for high-quality coffee production. The deforestation-free coffee partnership between Ecuador and Lavazza encourages farmers to grow coffee while preserving the surrounding Amazonian forests.

The Philippines has shown the world that it can implement the necessary policies to reverse years of abuse suffered by the country’s forests. While it would take a while to expand the forest cover to a level last seen in the 1990s, the Philippines has exhibited the willingness to make tough decisions for the protection of the environment. These forests, especially in rural areas, also serve as the first line of defense against flooding so it makes sense to invest in initiatives that will increase the number of trees in the Philippines instead of allotting funds for substandard flood control projects.

When Jackson Wang descended from the rafters, suspended midair, his arrival was exactly the kind of larger-than-life spectacle his global fandom expected.

The Smart Araneta Coliseum was packed corner to corner on November 2, lightsticks and phone flashlights like stars in the sky as the first chords of ‘High Alone’ filled the air. All were waiting with bated breath for him to bring the magic he promised on his MagicMan II World Tour.

But beyond the smoke, pyrotechnics, and hypnotic staging, what made the Manila concert memorable was how it exposed the fault line between the artist as product and the artist as person. Paradoxically, Jackson Wang used smoke and mirrors to unmask his most vulnerable self.

Jackson plunged into the stage, bellowing, ‘Let’s have some fun!’ The plumes of flame fanning across the stage synchronized with his powerful dance, making the arena thrum with life. He put on a show, but more than that, he stuck to the truth of who he is.

In interviews leading up to the release of MagicMan II, Jackson opened up about questioning his identity and direction in life; a search for the boundary between the Jackson the world consumes and the Jackson who exists when the lights go out. The album itself seems to question what happens to the artist when the person themself becomes the product.

Cultural critics of the music industry have long noted how the machine – agencies, management, PR – tend to shape the artist into a product, often at the expense of the person they are. The modern pop landscape has long blurred the distinction between person and product. Labels and management teams manufacture the myth, sculpting personalities into neatly marketable archetypes – the ‘wild one,’ the ‘heartthrob,’ the ‘artist-genius.’

With over a decade in the industry under his belt, Jackson Wang is no stranger to the entanglement of his authentic self and the expectations he must inhabit. His Manila concert, presented by IME Philippines, felt like an act of rebellion against it.

In a scene where many artists struggle behind the scenes with identity, his willingness to bare his struggles and articulation of ‘am I the Jackson Wang people know or am I me?’ is a manifestation of him taking control of his own narrative.

The irony was almost poetic: it took an arena-sized production, an army of dancers, and industrial levels of smoke and flame to stage something so deeply human. His raw honesty grounded the spectacle of bodies leaping from trapdoors and fireworks licking the LED screens.

The chaotic shifts in mood – from hype to horny to heartfelt – mirror the many different sides there are to a person. Even if the transitions were messy, so what? People are, too.

‘For us, ever since there was an announcement for the Manila stop, we actually conceptualized the fan projects way back in August,’ a representative of Jackson’s Filipino fanbase, Team Jacky Philippines, said in an interview. And there were many fan projects indeed: lamppost banners surrounding Araneta, ticket and merch giveaways, a message board, and a gift box addressed to Jackson himself. Such gestures transcend consumption and move into sustaining a community.

Their labor, love, and organization represent the paradox at the heart of pop culture: if the artist’s image is engineered for mass appeal, is the emotional connection it fosters just as fabricated?

Jackson’s insistence on imperfection – on making room for feeling lost, angry, directionless – is precisely what makes him real to his fans. ‘Selfish is not a bad thing. Feeling not okay is okay,’ he emphasized during the talkback section. The show was an embodiment of the tension between the artist as brand and the artist as human. As he said to Filipino media, ‘I make sure that I show all sides of myself to my fans because fans always show love and support. and in return, I want to make sure that I show them who I am.’

What is fascinating is how Jackson makes use of the machinery of pop. On one hand, the levitation, the fire, and the VIP tiers are all classic pop industry mechanisms that commodify proximity and magnify the spectacle.

On the other hand, he uses those very mechanisms to signal distance: distance from the image people have of him, distance from being merely an idol. When he floats above the stage, he is elevated-yes-but also physically removed from the crowd, symbolizing how the artist is separated from the audience, from real life, from self.

In the smoke, the lights, the call-and-response, and the roaring crowd in Manila, Jackson Wang delivered a show that was both high spectacle and high stakes. It reminded us that beneath the aerial stunts and pyrotechnics, there’s a person asking: ‘Who am I?’ In pop culture, we seldom get this level of meta-honesty at an arena-level show.

Perhaps that is Jackson Wang’s real magic – not the artifice of perfection, but the courage to stand suspended between two selves, letting both be seen.

Within Makati City, one major thoroughfare has become a popular destination for those who want a safe and open space where they can exercise and connect with others. On weekends, Ayala Avenue transforms into a vibrant space for bikers, joggers, and wellness enthusiasts, attracting a growing community that values both productivity and healthy living.

As interest grows in promoting work-life balance in the city, PNB Makati Center is positioning itself as one of the most attractive locations for health and wellness brands looking to tap into this momentum.

Located right along Ayala Avenue, PNB Makati Center offers more than just a strategic address. Its accessibility via public transport and proximity to residences, offices, banks, and retail establishments make it a natural fit for businesses that want to serve Makati’s population. The building is also managed with a strong focus on functionality and tenant experience, offering well-maintained spaces that allow businesses to thrive in a dynamic environment.

Already anchoring its wellness ecosystem is the newly opened flagship branch of homegrown fitness brand BeFit, a 1,300-sqm facility where customers can enjoy round-the-clock access to premium equipment, group fitness classes, and other health and wellness offerings.

‘PNB Makati Center was a natural choice because of its central location and strong support for our goal of bringing accessible and flexible fitness opportunities to more people,’ said Brian Cu, Co-Founder of BeFit Philippines.’

PNB Makati Center will soon welcome one of the country’s leading healthcare providers, further solidifying its position as a hub for wellness and lifestyle brands in the area.

‘We are proud to see PNB Makati Center evolve into a destination that supports healthier lifestyles. This direction reflects our commitment to building spaces that serve both business and community needs,’ said Joselito R. Consunji, Chief Operating Officer, PNB Holdings Corp.

PNB Makati Center’s reputation as a trusted address, coupled with the shift among urban dwellers toward healthier lifestyles, makes it ideal for wellness-driven brands. It offers both visibility and community, where businesses can grow alongside the people they serve.

Through well-curated tenants and thoughtful space management, PNB Makati Center enables an environment where health and wellness can be integrated easily into the busy lives of those who work or live in the City’s bustling Central Business District.

The Commission on Elections (Comelec) has asked 27 government contractors to explain their campaign contributions to candidates during the 2022 national and local elections, its chief confirmed on Wednesday.

Comelec Chairman George Erwin M. Garcia said the contractors have already been issued show cause orders to clarify their participation in the polls.

‘They have already been sent notices to explain. I think within the next two weeks, all of them will be summoned according to their respective schedules. That will start by next week,’ Garcia told reporters in an interview.

Garcia said the contractors have 10 days to file their affidavits and written responses.

According to the poll chief, a total of 21 candidates were listed as recipients of campaign contributions from 27 government contractors.

These include six senatorial candidates, five party-list groups, four congressional candidates, three governors, two vice governors, and one councilor.

He said the Comelec will not release the names of the candidates for now to avoid creating ‘tension.’

‘It’s better if the contractors respond first,’ Garcia added.

By November 21, the Comelec’s Political Finance and Affairs Department will begin hearings on the contractors’ responses.

After this, the commission will issue show cause orders to the candidates-whether they won or lost-who received the contributions.

In an earlier interview, Garcia clarified that receiving a show cause order does not automatically mean wrongdoing.

‘We are still giving them the chance to respond. The candidates may have valid defenses.This is being done for purposes of transparency, and they should not be immediately judged as guilty,’ he said.

Under Section 95 of the Omnibus Election Code, government contractors and suppliers are prohibited from making any contribution-directly or indirectly-to partisan political activities.

The same prohibition applies to financial institutions (except for legitimate loans), utilities, companies with government franchises or contracts, natural resource extractors, recipients of large government loans, publicly funded schools, civil service officials, members of the armed forces, and all foreigners or foreign corporations.

Both donors and recipients found guilty of violating the law face imprisonment of one to six years.

Garcia said the Comelec’s investigation into other forms of prohibited campaign contributions is also ongoing.

The country’s agricultural imports continued to outpace exports in September but the trade gap was narrower, based on data from the Philippine Statistics Authority (PSA).

PSA figures showed the country’s agricultural trade deficit shrank by 15.7 percent to $932.15 million in September, from $1.11 billion a year ago.

While agri goods purchased abroad continued to outstrip shipments of farm products in the reference month, PSA data indicated that exports grew by 19.1 percent to $794.46 million from last year’s $667.05 million.

Imports continued to dominate the country’s farm trade, despite slipping by 2.6 percent to $1.73 billion in September from $1.77 billion in the previous year.

Overall, the country’s total agricultural trade inched up by 3.3 percent to $2.52 billion, a slowdown from the 5-percent increase recorded in August and the 26.1-percent surge posted in September 2024.

Animal, vegetable, or microbial fats and oils were the country’s top agricultural export, earning $297.51 million or 37.4 percent of total farm export receipts.

This was followed by edible fruit and nuts; preparations of vegetables, fruit, nuts, or other parts of plants; and preparations of meat, of fish, of crustaceans, molluscs, or other aquatic invertebrates or of insects.

The top 10 export groups altogether contributed 97.8 percent of total farm export earnings, collectively growing by 20 percent.

Within the Asean region, Malaysia emerged as the Philippines’ leading buyer of farm goods, purchasing $26.34 million worth of exports, or more than a third of total agricultural shipments to Southeast Asian neighbors.

Meanwhile, the Netherlands remained the country’s biggest agricultural trading partner in the European Union (EU), accounting for $142.82 million or 61.1 percent of exports to the bloc.

Cereals led the country’s farm imports in September with a value of $361.26 million, representing 20.9 percent of total agricultural imports. The top 10 import groups reached a combined $1.46 billion, down 1.9 percent from the same month of last year.

Among its Asean partners, Indonesia was the country’s leading source of agricultural imports, supplying $190.86 million worth of goods or 28.3 percent of the Philippines’ total agricultural imports from the region.

Spain was the Philippines’s main supplier of agricultural goods in the EU, accounting for $44.51 million or 28.1 percent of total imports from EU member states.

Senate Minority Leader Alan Peter Cayetano has welcomed President Ferdinand Marcos’ commitment to fund a law to make the proposed permanent infrastructure probe body ‘bulletproof’ and truly independent in pursuing corruption cases.

‘We have to find a way to speed up the investigation, the filing of cases, and for us not to be distracted. The problem of ICI is that they themselves admitted that ‘we have no powers.’ And they are also arguing about the direction of their work,’ Cayetano noted.

Cayetano’s remarks came after President Marcos gave assurances that the government is ‘committed to make sure that they can fund their investigation,’ following reports that the ICI has yet to receive an approved budget from the Department of Budget and Management (DBM).

Moreover, Cayetano also reminded authorities that while the administration’s funding pledge is a good start, financial support alone is not enough.

Also Cayetano urged Congress to pass the proposed law authored by Senate President Vicente Sotto III, which seeks to institutionalize the ICI as a permanent, non-partisan anti-corruption body with broader powers.

‘We must be focused . The law must make it faster, focused, and truly independent,’ Cayetano said, partly in Filipino.

He also called for broader representation within the commission, suggesting the inclusion of opposition and faith-based members to ensure independence, citing the US model of independent or special counsels.

‘Sa US, if you are an independent or special counsel, your funds and your actions are truly independent,’ he said.

Cayetano added that the ICI should also be granted contempt powers to compel cooperation during investigations while still respecting constitutional rights.

‘Imagine this: if there’s a hearing but no contempt power, then they will just ignore the probers,’ he said in Filipino.

FINANCE Secretary Ralph G. Recto has ordered the Securities and Exchange Commission (SEC) to tighten its crackdown on predatory loans by imposing interest rates ceiling and stringent measures on lending and financing firms.

A statement issued by the Department of Finance (DOF) quoted Recto as saying the SEC is finalizing a memorandum circular that would set caps on interest rates and other fees imposed by lending and financing companies. The Commission is seeking public input on the proposed guidelines until November 14, 2025.

‘We need to further strengthen protection for our fellow citizens, especially as the number of online lending platforms increases, where people are often victimized by excessively high interest rates and become mired in debt,’ Recto said. ‘The DOF will help the SEC tighten regulation on these.’

Under the proposed rules, the ceiling on interest rates and other fees will apply to unsecured general-purpose loans with a maximum amount of P20,000 and loan terms of up to six months.

The guidelines propose a maximum nominal interest rate of 6 percent per month or about 0.2 percent per day and an effective interest rate, including all other costs and fees, capped at 10 percent per month or around 0.33 percent per day.

The agency noted that late payment or nonpayment penalties would be limited to 5 percent per month on the outstanding amount. The SEC also intends to limit the total charges to the amount borrowed.

Credit providers that fail to comply with the interest rate caps would face a fine ranging from P25,000 to P100,000 for the first and second offenses.

Heavier penalties, including suspension and revocation of permits, might also be slapped on noncompliant companies, the DOF said.

‘Through responsive policies and stronger enforcement actions, the SEC will ensure that lending practices remain fair, transparent, and aligned with consumer protection standards, while promoting the continued viability and competitiveness of legitimate financing and lending companies,’ SEC Chairman Francis E. Lim said.

Under Republic Act 11765 (Financial Products and Services Consumer Protection law), the SEC can determine reasonable interest rates and fees that financial service providers may demand, collect, or receive for any service or product offered to consumers.

The Philippines’ official Oscars entry for Best International Feature Film has just won the Golden Spike (Best Picture) at the 70th Valladolid International Film Festival (SEMINCI) in Spain – sharing the top honor with Kelly Reichardt’s ‘The Mastermind.’

The jury hailed ‘Magellan’ for its powerful reimagining of colonial history, stunning visuals, and bold storytelling that bridges the past and present. The Film Academy of the Philippines called it a proud victory for Filipino cinema, celebrating the vision of one of the country’s most acclaimed auteurs.

Premiering at Cannes 2025 before making its way through the international film festival circuit, ‘Magellan’ is distributed globally by Janus Films and continues to earn widespread acclaim for director Lav Diaz, whose unflinching cinema reclaims history from the lens of the colonized.

Starring Gael García Bernal as Ferdinand Magellan, Ronnie Lazaro as Rajah Humabon, and Amado Arjay Babon as Enrique of Malacca-whom Lav emphasizes as the first Malay to circumnavigate the globe-the film stands as a monumental achievement for Philippine cinema and Southeast Asian storytelling on the world stage.

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Petron Corp. delivered strong results in January to September driven by higher domestic sales, lower costs, and improved plant efficiency.

At-end September this year, the country’s lone refiner posted P9.7 billion in net income up 37 percent from last year’s P7.1 billion.

Petron achieved robust sales, reporting a combined sales volume of 84.7 million barrels for the Philippines and Malaysia, a three-percent increase from 2024’s 82.6 million barrels. This growth was largely driven by the 11 percent improvement in Philippine retail sales as Petron continued to corner the bigger share of the market.

The growth in domestic volumes, together with higher productivity at Petron’s refineries in Limay, Bataan and Port Dickson, Malaysia, helped minimize the impact of weak regional refining cracks, which dropped 11 percent in the first nine months.

Due to lower international prices, revenues for the three quarters slid by 10 percent to P594.9 billion from P657.9 billion the previous year.

Despite the external challenges, Petron sustained its profitability with an operating income of P26.6 billion, 20 percent higher than last year’s P22.2 billion. Furthermore, its net income growth further underscores the company’s resilience in navigating industry headwinds.

Petron said geopolitical tensions, shifting policies, and lifting of supply cuts significantly impacted oil prices. Dubai crude remained rangebound at $70 per barrel in the third quarter, following a drop to $64 per barrel in May from $80 per barrel in January this year. The regional pricing benchmark averaged $71 per barrel from January to September, marking a 13-percent decline compared to last year.

‘As a refiner, we’ve had to balance financial resilience with delivering value across every aspect of our business. This year, the market has presented even greater challenges, yet we’re proud of how we’ve stood against external pressures and even competition.

Our performance over the past three quarters has been a testament to this, and we remain optimistic about maintaining this momentum through the rest of the year,’ said Petron President and CEO Ramon S. Ang.