Category: Business Mirror

The Manila Electric Co. (Meralco) spent P281.33 million in the third quarter to support load growth and improve service reliability in some parts of its franchise area.

Of the total amount, P93.33 million financed the uprating of the 115 kilovolt (kV) circuit breakers at Gardner substation in Muntinlupa City, P161.95 million went to the expansion of Calamba delivery point substation with the installation of a third 300 megavolt ampere (MVA) power transformer and P26.05 million was utilized for the reliability improvement of the Binangonan substation.

Meralco said this investment is part of its commitment to delivering ‘high-quality, stable and reliable service.’ It said it will continue to invest heavily in upgrading and modernizing its electricity distribution.

The additional 300-MVA capacity and the reliability improvement projects are meant to support the load growth in the following areas: Muntinlupa City, Taguig City, Paranaque City, Laguna, Batangas, and Rizal.

In particular, Meralco said the new transformer bank, as well as associated 115 kV and 230 kV Gas Circuit Breakers, and protection and control panels will support the growing power demand of key establishments including SM City Calamba, SM City Sto. Tomas, Mariwasa-Siam Ceramics Inc., Calamba Doctor’s Hospital, Philippine Manufacturing Co. of MURATA Inc., STMicroelectronics Inc., and Samsung Electro-Mechanics Philippines Corp, as well as the neighboring communities in the area.

Meralco’s 12-month moving average system loss of 5.78 percent remained below the indicative regulatory cap. Its customers reached 8.2 million at end-September this year.

Last July, Meralco said it may close the year with about P50 billion in consolidated core net income (CCNI), higher than last year’s P45.1 billion, after posting a CCNI of P25.5 billion in the first half.

Meralco Chairman Manuel V. Pangilinan, during a news briefing, said the full-year guidance number for this year’s CCNI is ‘around P50 billion.’

‘We are guiding our 2025 full year CCNI to grow by low double digits over 2024 CCNI.’

THE 5150 Triathlon Series reaches new shores with the debut of 5150 Camiguin on May 3, 2026, in the island province of Camiguin in Northern Mindanao.

Known as the ‘Island Born of Fire,’ Camiguin is a tropical gem renowned for its seven volcanoes, pristine white sandbars and centuries-old heritage sites.

The 5150 Camiguin will mark another milestone for the Philippines’ growing triathlon community and tourism industry.

Athletes will dive into the crystal-clear waters off Old Catarman, racing past the iconic Sunken Cemetery Monument, one of Camiguin’s most striking landmarks.

The bike course follows a scenic two-loop route along the island’s Circumferential Road, showcasing panoramic coastal views and lush countryside.

The concluding race stage will culminate at the Camiguin Sports Complex, where participants will be greeted by cheering locals and a festive island atmosphere.

Camiguin Governor Xavier Romualdo hailed the 5150 event as a major step forward in promoting the island as a sustainable tourism and sports hub.

Princess Galura, president and general manager of the organizing Sunrise Events Inc., said bringing the 5150 series to Camiguin is not only about racing but sharing the spirit of the island.

Since 2009, SEI-the exclusive licensee of the Ironman brand in the Philippines-has introduced global racing standards to iconic destinations such as Subic Bay, Lapu-Lapu City, Puerto Princesa, Cebu and Manila.

THE chairperson of the House of Representatives Committee on Higher and Technical Education on Tuesday urged the Commission on Higher Education (CHED) to take firm action against diploma mills and strengthen the quality and oversight of graduate programs in teacher education.

House Committee on Higher and Technical Education Chairperson Jude Acidre made the call following the findings of the Second Congressional Commission on Education (Edcom II), which revealed that many graduate programs prioritize credentials over competence.

According to Edcom II data, more than half of the country’s graduate students are enrolled in education programs. However, many of these programs reportedly fail to produce meaningful research output or contribute to real professional growth. The Commission noted that a growing number of teachers pursue graduate degrees mainly to meet promotion requirements, with little evidence that these degrees enhance teaching quality.

Acidre, who also serves as Edcoim II co-chairperson, said this trend highlights the need to ensure that graduate studies truly fulfill their purpose-improving classroom instruction and teacher capability.

Collecting diplomas

‘THE goal of higher learning for teachers should never be about collecting diplomas. It should be about deepening competence,’ Acidre, a nominee of the party-list group Tingog, said.

‘Too many graduate programs today have become mere ticket requirements for promotion, not real opportunities for growth. We need to bring back the true purpose of education: to form better teachers who can give our students the best possible learning experience.’

He called on CHED to enforce stricter quality assurance standards and to conduct a comprehensive review of existing graduate programs to ensure they contribute to teacher development, rather than serving as mere credentialing exercises.

‘Graduate education must be more than a line in a résumé. It has to be a meaningful journey that helps teachers think critically, teach creatively, and lead with purpose,’ he added. ‘It’s time we put an end to diploma mills that profit from ambition but fail to nurture ability.’

Acidre clarified that tighter oversight is not meant to penalize institutions but to protect educators and students from substandard programs that waste valuable time, money, and effort.

He also supported Edcom II’s recommendation to prioritize graduate programs in science and mathematics education, literacy, inclusive education, and digital learning, which are critical areas in addressing persistent gaps in the Philippine education system.

Acidre said that reforming and strengthening graduate education is essential to restoring public trust in higher education and supporting the country’s long-term learning recovery.

Classroom shortage

MEMBERS of the House’s Makabayan Bloc, meanwhile, filed a resolution urging the chamber to investigate the ‘extremely low performance’ of the Department of Education’s (DepEd) School Building Program under the Duterte and Marcos Jr. administrations amid the worsening classroom shortage in public schools.

Party-list Reps. Antonio Tinio of ACT Teachers, Renee Louise Co of Kabataan and Sarah Jane Elago of Gabriela filed House Resolution 425, directing the Committee on Basic Education and Culture to look into the alarming delays in classroom construction nationwide.

The lawmakers said public school teachers continue to handle overcrowded classes of up to 60 to 80 students, twice the ideal size of 35, owing to DepEd’s poor infrastructure performance.

Data from the National Expenditure Program showed that since 2018, DepEd has repeatedly missed its classroom targets, completing only a fraction of the planned projects each year. The Commission on Audit (COA) also found that in 2023, only 192 classrooms-or 3 percent of the 6,379 target-were built, citing delays in project design and procurement.

During Senate budget hearings, Public Works Secretary Vivencio Dizon disclosed that only 22 of 6,000 targeted classrooms were completed for 2025. Education Secretary Juan Edgardo Angara likewise said only 22,092 classrooms had been built from July 2022 to July 2025, as the DPWH prioritized flood control projects over school buildings.

The lawmakers warned that neglecting classroom construction worsens the learning crisis, with Edcom II reporting that 24.8 million Filipinos were functionally illiterate in 2024.

LOWER infrastructure spending in the third quarter may have weighed on the country’s economic performance, the Department of Budget and Management (DBM) said, as the government braces for the release of the latest gross domestic product (GDP) data this week.

Budget Secretary Amenah F. Pangandaman acknowledged that the slowdown in disbursements-particularly from the Department of Public Works and Highways (DPWH)-could have trimmed growth during the July-to-September period.

‘Well, you know, generally our [infrastructure] spending for the third quarter decreased because we stopped; DPWH Secretary Vince [B. Dizon] temporarily stopped the biddings. So, maybe a little,’ Pangandaman told reporters in an ambush interview at the Manila City Hall.

A video posted on the DPWH on September 3 showed Dizon announcing the temporary suspension of all bidding for the department’s locally-funded infrastructure projects while a thorough review is conducted over the next two weeks as part of the ‘intensified campaign against corruption’ in the agency. (See https://www.facebook.com/watch/?v=1150830926967047)

Latest DBM data showed that infrastructure and other capital outlays dropped to P84.9 billion in August from P108.6 billion a year earlier.

The decline, according to the agency, reflected the ongoing validation of the status of implementation, quality and completion across DPWH undertakings nationwide.

Pangandaman said the government will assess how to further ‘pump-prime’ the economy should growth fall short of the full-year target of Development Budget Coordination Committee (DBCC) of 5.5 to 6.5 percent.

‘Let’s see. Let’s wait for the numbers. We’ll check how we can pump-prime to be able to get the target of 5.5 assuming we don’t change’ said Pangandaman, the DBCC chairman.

Economic Planning Secretary Arsenio M. Balisacan earlier shared the same view, saying that infrastructure controversies and slower public spending likely weighed on the third-quarter growth. (See: Andrea E. San Juan, November 4, 2025, ‘Weak industry, infra mess, jitters hurt GDP,’ BusinessMirror)

‘It was a challenging quarter,’ Balisacan said in a separate interview. ‘I would have expected [that], given all these scandals in the infrastructure, that you would expect [to weigh on] government spending particularly on construction, fixed capital formation.’

He added that industry and services may have also slowed, citing external headwinds, domestic disruptions, and recent typhoons that hampered activity.

State think tank Philippine Institute for Development Studies (PIDS) Senior Research Fellow John Paolo R. Rivera earlier warned that the decline in infrastructure spending poses a ‘significant risk’ to both the country’s fiscal consolidation and growth trajectory.

‘Infrastructure outlays have been a key driver of aggregate demand and productivity improvements, so a sharp slowdown signals both an immediate demand shortfall and longer-term capacity constraints,’ Rivera told the BusinessMirror. (See: Reine Juvierre S. Alberto, October 22, 2025, ‘Government infrastructure spending down by 21.8% in August,’ BusinessMirror)

‘The national government itself has flagged this weakness as a factor that may cause it to miss the full-year growth target,’ he added.

Data from the Philippine Statistics Authority (PSA) showed that the economy expanded by 5.4 percent in the first quarter and 5.5 percent in the second quarter.

The PSA is set to release the country’s third-quarter GDP figures on November 7.

Typhoon Tino (international code name Kalmaegi) maintains its strength as it passes through Central Philippines, bringing life-threatening conditions along its path on Tuesday, the weather bureau said.

The 20th severe weather disturbance to affect the Philippines, Tino, wrought havoc in the Visayas. A combination of typhoon-force winds, heavy rainfall it induced, and the prevailing Northeast Monsoon and Shear Line caused severe flooding.

In Cebu, Tino wrought havoc as streets turned into raging rivers. Motor vehicles were swept by raging floodwater on top of another, a scenario last seen after super typhoon Yolanda left a path of death and destruction in 2013.

The Office of the Civil Defense said it is verifying 3 reported deaths attributed to the typhoon.

Signal No. 4 up Visayas, Luzon’s Calamian and Cuyo Islands

The Philippine Atmospheric Geophysical and Astronomical Services Administration said as of 5 p.m., Tropical Cyclone Wind Signal No. 4 is hoisted over the Calamian and Cuyo Islands in Luzon, and the central and southern portions of Antique (Patnongon, Sibalom, Valderrama, Hamtic, San Jose, Bugasong, Anini-Y, San Remigio, Belison, Tobias Fornier, Laua-An), the central and southern portions of Iloilo (Calinog, New Lucena, Maasin, Oton, Pavia, Dueñas, Barotac Nuevo, Guimbal, Iloilo City, Tigbauan, San Miguel, Leon, Mina, Santa Barbara, Leganes, Dingle, Zarraga, Bingawan, Cabatuan, Alimodian, Dumangas, San Joaquin, Badiangan, Pototan, Lambunao, Tubungan, Igbaras, Janiuay, Miagao), and Guimaras in the Visayas.

Meanwhile, Signal No. 3 was still up in the northernmost portion of mainland Palawan (El Nido, Taytay, Dumaran, Araceli) in Luzon; and the rest of Antique including Caluya Islands, Aklan, Capiz, the rest of Iloilo, the northern and central portions of Negros Occidental (Hinigaran, Moises Padilla, Isabela, Binalbagan, City of Himamaylan, San Carlos City, Calatrava, City of Escalante, Sagay City, Toboso, Salvador Benedicto, La Carlota City, Cadiz City, Bago City, Enrique B. Magalona, Valladolid, San Enrique, Bacolod City, La Castellana, Murcia, Silay City, Pulupandan, City of Victorias, City of Talisay, Pontevedra, Manapla), and the northern portion of Negros Oriental (City of Guihulngan, La Libertad, Jimalalud, Canlaon City, Vallehermoso) in the Visayas.

Significant to severe impacts from typhoon-force winds are possible within any of the areas under Wind Signal No. 4.

Heavy rainfall outlook issued by the weather bureau indicated that many areas in the affected regions in Luzon and Visayas are prone to flooding and rain-induced landslides.

PNP response team on standby

Acting Philippine National Police (PNP) chief Lt. Gen. Jose Melencio Nartatez Jr. on Tuesday placed police regional offices near the projected path of Typhoon ‘Tino’ on standby for immediate deployment to ensure that aid will be quickly provided to communities that might be affected by the severe weather event.

In a statement, Nartatez said this proactive measure aims to prevent loss of life and secure vulnerable areas ahead of the storm’s landfall.

‘I have directed police regional offices to be on standby in case there is a need for additional reinforcements in areas that will be severely hit and affected by Typhoon ‘Tino’, he added.

Nartatez also reminded police officers to help in the evacuation measures being enforced by local government units, especially for those residing in coastal areas.

‘I have also tasked our personnel to ensure that preemptive evacuation measures are enforced to ensure the safety of our kababayan,’ he added.

Nartatez also emphasized the need for cooperation in preemptive measures as he reminded officers of their crucial role in safeguarding the public.

He also appealed to the public to heed the advice of local officials and monitor weather updates from government agencies and trusted sources.

NDRRMC: 1 dead, 75K people preemptively evacuated

In its 12 p.m. Situational Report on the effect of Typhoon Tino, the National Disaster Risk Reduction and Management Council (NDRRMC) said on Tuesday, that Tino has claimed its first fatality.

Because of the inclement weather, a total of 77,347 persons from MIMAROPA, Region 6, Region 7, Region 8, and CARAGA were preemptively evacuated. The violent winds, heavy rainfall, and coastal inundation have so far displaced 168,553 persons.

The NDRRMC said a total of 1,628 evacuation centers are currently attending to the needs of the evacuees.

So far, the inclement weather has affected a total of 57,867 families in 1,137 barangays in 116 cities and towns, mostly in the Visayas.

Coastal hazards

Furthermore the surge of the Northeast Monsoon, shear line, and the trough of Tino will also bring strong to gale-force gusts over the following areas not under Wind Signal, including Cagayan Valley, Cordillera Administrative Region, Ilocos Norte, Ilocos Sur, Central Luzon, Metro Manila, CALABARZON, MIMAROPA, Bicol Region, Sarangani, Davao Occidental, and Davao Oriental.

The same threats are to be experienced in Luzon, Western Visayas, Negros Island Region, Central Visayas, Biliran, Leyte, and Zamboanga Peninsula on Wednesday, and the Ilocos Region, Batanes, Cagayan, including Babuyan Islands, most of Cordillera Administrative Region, Central Luzon, Metro Manila, CALABARZON, and MIMAROPA on Thursday.

Because of the inclement weather, the weather bureau said there is a high risk of life-threatening and damaging storm surge with peak heights exceeding 3 meters within the next 24 hours over the low-lying or exposed coastal communities of Romblon, Oriental Mindoro, Occidental Mindoro, Palawan, Western Visayas, Negros Occidental, and Negros Oriental.

Tino was last seen in the vicinity of Patnongon, Antique, and is moving slowly at 15 km/h. It is packing maximum sustained winds of 130 km/h near the center and gustiness up to 180 km/h.PAGASA said heavy rainfall, severe winds, and storm surge may still be experienced in localities outside the landfall point and the forecast confidence cone.

Tino is forecast to pass through the Sulu Sea and will traverse the northern Palawan area by tomorrow morning. It is expected to emerge over the West Philippine Sea tomorrow morning and may exit the Philippine Area of Responsibility by tomorrow evening or early morning of Thursday. According to PAGASA, Tino is forecast to steadily re-intensify over the next days and may reach its peak intensity while over the West Philippine Sea.

Eumir Felix Marcial captures the World Boxing Council International middleweight title following his hard-fought majority decision victory over Venezuela’s Eddy Colmenares in one of the supporting fights of the recent ‘Thrilla in Manila’ 50th anniversary celebration at the Smart Araneta Coliseum.

SportsPlus, a dedicated supporter and the Official Gaming Partner of the Philippine Olympic Committee, stood behind Marcial’s journey-which he pulled off on his 30th birthday last Wednesday-as a pro boxer who’s unbeaten in seven fights.

S Maison, the premier luxury lifestyle destination in the Mall of Asia Complex, officially ushers in the most wonderful time of the year with the launch of A Classic Christmas. The event celebrates timeless holiday traditions and marks the start of memorable Christmas experiences for shoppers and guests.

At the heart of the celebration stands S Maison’s 30-foot Christmas pine tree, glowing with hundreds of warm lights. The décor features the classic colors of red, green, and gold, creating a welcoming and elegant atmosphere. Adorning its branches are vivid crimson Cardinal birds, symbolizing love, remembrance, and the joy of the season.

Holiday Highlights at S Maison

The celebration features a live chorale performance during the Christmas Launch and a special Santa Meet and Greet, marking the start of a lineup of festive activities throughout November and December.

Shoppers can join Unwrap the Magic: Christmas Giveaway from October 24 to December 20. For every P5,000 single receipt spent on shopping or dining at S Maison, guests earn one e-raffle entry for a chance to win exclusive prizes such as an Apple Watch SE or a Nespresso Coffee Machine.

Santa Meet and Greet sessions will take place on November 8 and 22, and December 6, 13, and 20 at 6:00 PM. The Holiday Markets and Feasts in the Main Atrium run from November to December, featuring curated gift items and food packages from premium merchants. Every Saturday, guests can enjoy a Grand Fireworks Display at 7:00 PM, followed by a dazzling New Year’s Eve Countdown on December 31 at the Level 2 Veranda.

There is something for everyone. Families can enjoy the dazzling Night of Lights, the Grand Magical Parade, and the Holiday Snowflakes Surprises. Fun-filled events, such as the Santa Run and the Holiday Paw Party, promise excitement for kids and fur parents alike. Every weekend in December, mallgoers can look forward to the Happiest Holiday Weekends featuring carols, meet-and-greets, and more festive fun for everyone. The celebration also includes Santa Meet-and-Greets, the Grand Holiday Fireworks every Saturday at SM By the Bay, and the MOA Christmas Market, filled with gift finds and treats.

S Maison invites everyone to celebrate a season of love, connection, and tradition. Discover A Classic Christmas at S Maison, where timeless elegance meets the warmth of the holidays.

SEN. Pia Cayetano on Tuesday moved to ensure the P60-billion returned to the Philippine Health Insurance Corporation (PhilHealth) remains in the 2026 national budget.

Cayetano insisted that the P60 billion returned to PhilHealth, as ordered by President Marcos ‘must be kept in the 2026 national budget, ‘not only to implement the President’s directive, but because the law requires it.’

Cayetano noted that the amount is already reflected in the 2026 General Appropriations Bill (GAB) of the House of Representatives and said it is imperative that it is retained in the final General Appropriations Act (GAA). ‘The inclusion of these funds in the budget is not a matter of discretion or politics: it is a matter of compliance with the law,’ she stressed.

‘We must ensure that this directive is not left to pronouncements alone but enforced through the budget process, with every peso serving the health needs of our people,’ she added.

She cited that under the Universal Health Care Act and the Sin Tax Reform Laws of 2012 and 2019, a fixed share of sin tax revenues is

earmarked for PhilHealth to fund universal health care. These provisions, she said, are reinforced by Article VI, Section 29 (3) of the Constitution, which mandates that taxes collected for a special purpose be used solely for that purpose.

‘These laws make it clear that funds from sin taxes must go to health. Diverting or withholding them is a violation of the law,’ Cayetano said. ‘Keeping the P60 billion in the GAA is not optional; it is a legal and moral obligation to the Filipino people.’

‘Our goal should always be to strengthen PhilHealth’s capacity to deliver on its mandate,’ she concluded. ‘Every peso invested in healthcare is an investment in the lives and future of our people.’

Vivant received the Three-Golden Arrow recognition for Corporate Governance from The Institute of Corporate Directors (ICD) at the ASEAN Corporate Governance Scorecard (ACGS) Golden Arrow Awards 2025.

The prestigious accolade presented annually by the ICD recognizes publicly listed companies that set the highest standards in key governance areas including equitable treatment of shareholders, stakeholder relations, transparency, accountability through disclosure of material information, and ethical business practices.

‘This recognition inspires us to continuously raise the bar. At Vivant, we aim to consistently elevate our standards and deliver on our commitment to excellence to sustain the Company’s success and create long-term value for our stakeholders, ‘said Maila G. de Castro, Vivant Corporation Corporate Secretary.

This recognition marks Vivant’s fourth consecutive distinction in the Golden Arrow Awards, reflecting its consistent advancement in corporate governance. The company first received the 1-Golden Arrow Award in 2021, followed by the 2-Golden Arrow Award in both 2022 and 2023, and now the 3-Golden Arrow Award in 2024. This progression demonstrates Vivant is steadfast in continuously enhancing governance practices and promoting transparency, accountability, and ethical leadership across the organization.

The ICD confers the Golden Arrow Award to companies that achieve a score of at least 75 points in the ACGS Assessment. Being recognized with a Golden Arrow Award means that the company exhibited observable conformance with the Philippine Code of Corporate Governance and internationally recommended corporate governance practices as espoused by the ACGS.

Beyond governance, Vivant has earned other prestigious accolades, including certification as a Great Place to Work for 2023-2024 and 2025-2026, the HR Asia Award for Best Employer Brand in 2025, and the Asia CEO Award in 2025. These honors highlight Vivant’s commitment not only to governance leadership but also to cultivating a workplace culture that empowers and inspires.

THE Philippine Embassy in France has confirmed that the bust of national hero Dr. Jose Rizal was stolen from its pedestal at Place José Rizal in Paris, three years after its inauguration in the historic 9th arrondissement.

Philippine Ambassador to France Eduardo José de Vega said the deputy mayor of Paris has reached out to the embassy and assured them that the city government is investigating the art theft.

‘The city government of Paris is investigating the matter, and we are awaiting their report. We appreciate their timely response to our request,’ de Vega told BusinessMirror.

The bronze sculpture was unveiled in June 2022 at the plaza named after Rizal, near the site where he studied ophthalmology under Dr. Louis de Wecker in 1885-1886. It remains the only public monument in Paris dedicated to a Filipino figure.

Paris-based journalist Richard Villanueva said members of the Filipino community noticed the bust missing days after the Louvre heist made headlines.

Prior to the theft, the monument had also been subject to repeated acts of vandalism, including the placement of masks, books, and other inappropriate items on the bust.

The embassy said it is closely coordinating with French authorities and the Filipino community in Paris to monitor developments.