Category: Business Mirror

THE Western Union Co. decided to launch its mobile app to cash in on the Philippine inbound-market for remittances, which executives of the money transfer company see as remaining robust.

Gregory Laurent, director at Western Union Financial Services. (Australia) Pty Ltd, told reporters last Wednesday that the Philippines is the fourth-largest inbound market in terms of remittances. Averaging $36 billion annually, this market has been growing steadily year after year, according to Laurent.

‘It is a very successful market, and I think the company is doing the right thing to serve overseas in every country where they have presence,’ he said during the launch of the company’s mobile app in the country.

Laurent said they expect the app to be a growth engine based on the company’s experience in other economies. He cited the feature of the app, which combines digital and retail, making the value proposition in a very competitive environment.

‘Today’s launch marks an important milestone in our effort[s],’ Laurent said. ‘For many in the country, remittances represent a life with more opportunity and hope. At the same time, an increasing number of Filipinos opt to send funds abroad.’

He said the firm’s new app ‘gives the opportunity to do both.’

Ricardo Alair, Western Union Director for the Philippines, Guam, Northern Mariana Islands and Palau, noted that the digitization in the Philippines is fast paced.

Laurent credited regulator’s ‘huge’ support to promote innovation as enabling such momentum.

‘For us, it was actually an obvious choice to take the Philippines as a market to launch this new receiver environment,’ he said.

‘I think we are actually hoping that this is going to be super successful,’ Alair added.

Laurent said Western Union received a ‘warm response’ from the market considering the app was launched only ‘a couple of weeks ago.’ He noted there was traction already on the volume.

He said it took Western Union a longer time to enter the local market as the licensing took a bit longer for approval.

‘We took our time, but we are hopeful that this is the right product,’ Alair said.

‘We did receive support from the regulator as well. And then the second reason is, maybe, in terms of a roadmap across the organization, we had to wait for a fast spot to develop the app,’ Laurent explained. ‘Thirdly, we really took time to think about this experience wisely. We took time to make sure that we had the most efficient experience.’

According to him, the Denver, Colorado-headquartered company is looking at expanding its digital footprint from the current 80 countries.

According to data from the Bangko Sentral ng Pilipinas, remittances to the Philippines reached an all-time high of $38 billion last year. Further, the World Bank ranked the Philippines as the fourth-highest remittance levels among low-middle and middle-income countries last year. The biggest source of cash remittances last year was the United States, followed by Singapore.

IT is easy to fall into the trap of comparing ourselves with others. We look at colleagues who seem to be climbing the ladder faster, friends who appear to have more exciting lives, or neighbors whose families look perfect. Social media adds to the pressure. In just a few minutes of scrolling we can find ourselves asking why our lives do not look as polished as what we see online. The truth is that constant comparison is draining and it steals the joy that could be found in our own journey.

One way to avoid this trap is to remind yourself that what you see is rarely the full picture. A friend may post photos from a beach trip but you do not see the months of stress that led to that short break. A coworker may receive recognition at work but you do not see the late nights or personal struggles behind the achievement. Social media is often a highlight reel. Remembering that no one shares everything helps you keep perspective.

Another helpful approach is to practice gratitude. When you notice yourself feeling envious of someone else, pause and list three things you are grateful for in your own life. These do not have to be grand or extraordinary. It could be as simple as having a meal you enjoyed, a friend who listened to you, or a small task you managed to finish today. Gratitude brings your attention back to what is already working for you instead of focusing on what you think you lack.

You can also set personal goals that are based on your own values rather than on what others are doing. For example, instead of thinking that you must earn as much as a certain classmate, focus on what financial stability means for your situation. If your goal is to save enough to cover three months of expenses, then reaching that goal should be the measure of your progress. When goals are personal and meaningful, you are less likely to compare them with the achievements of others.

Limiting exposure to triggers is another practical step. If you notice that certain online accounts always make you feel worse, consider muting or unfollowing them. If you find yourself repeatedly comparing your home or possessions to those of a neighbor, spend less time looking at what they have and more time improving what is within your reach. You cannot control what others post or own, but you can control what you allow yourself to consume and dwell on.

It also helps to celebrate small wins. If you cooked a new dish for the first time, give yourself credit. If you finished a report ahead of schedule, acknowledge the effort. If you made it through a stressful week, recognize your resilience. These small celebrations create a habit of valuing your progress and make you less dependent on comparing yourself to others.

Surrounding yourself with supportive people also makes a difference. When you are with friends or family who encourage you, you feel less the need to prove yourself. A circle that appreciates you for who you are helps remind you that you are valued, even without constant comparison. Choose to spend more time with people who uplift you rather than those who compete with you.

More importantly, practicing self-compassion is vital because it shapes the way you respond to your own shortcomings and challenges. Everyone has strengths and weaknesses, and no one is perfect. Instead of criticizing yourself for not being like someone else, learn to acknowledge your efforts and accept that mistakes are part of growth. Treat yourself the way you would treat a friend who has fallen short of a goal by reminding them of their accomplishments, encouraging them to keep going, and assuring them that setbacks do not define their worth. Offering yourself the same patience and understanding helps you recover faster, stay motivated, and build resilience.

Avoiding the trap of constant comparison does not mean ignoring the achievements of others. It means appreciating them without turning them into a measure of your own worth. You can admire someone’s talent without believing that yours is less valuable. You can be inspired by a friend’s success without feeling that you are failing. Life is not a race where only one person can win. Each person is on a different path with different challenges and different blessings.

The next time you catch yourself scrolling through social media or admiring someone else’s success, pause and remind yourself that you are only seeing part of the story. Shift your focus back to your own journey and notice how far you have come, even in small ways that are easy to overlook. Appreciate the blessings already present in your life, set goals that reflect your own values, and give yourself credit for both big and small wins. When you choose to celebrate your progress instead of comparing it to others, you create room to live more fully, with a sense of peace that comes from walking your own path with clarity and gratitude.

The Bases Conversion and Development Authority (BCDA) has signed partnership deals with the Japan Bank for International Cooperation (JBIC), as well as two Japanese companies, for the development and promotion of projects supporting green energy transition, and environmental and social sustainability.

BCDA President and CEO Joshua M. Bingcang formalized the agreements with Japanese partners last September 30 at the Philippine Embassy in Tokyo during its four-day official mission to Japan, the BCDA said in a statement on Wednesday.

The agency said the agreements ‘signify the strong economic relations between the Japanese and Philippine governments’ and show Japanese confidence in its capacity to drive sustainable development, foster innovation, and implement transformative projects across BCDA-managed economic zones.

Under a memorandum of agreement (MOU) signed with JBIC Managing Executive Officer and Global Head of Infrastructure and Environment Finance Hiroki Sekine, JBIC will help reinforce the BCDA’s relations with the Japanese business community and promote Japanese companies’ participation in BCDA’s green and sustainable initiatives.

The Japanese financial institution has also expressed its willingness to consider strategic funding options to support such sustainable development projects, BCDA said.

In the same occasion, Bingcang also signed MOUs with industrial and engineering firm Kanadevia Corporation (KVC) and telecommunications firms IPS Inc. and InfiniVAN Inc.

KVC will conduct of preliminary feasibility studies on the development of a waste-to-energy (WTE) facility in New Clark City in Capas, Tarlac, a project that BCDA said ‘aligns with the goal of transforming New Clark City into a green and resilient metropolis by introducing sustainable solutions and fostering a circular economy.’

Meanwhile, IPS Inc. and InfiniVAN Inc. will explore potential collaborative projects that will maximize the utilization of BCDA’s information and communications technology (ICT) assets in the Poro Point Freeport Zone in La Union and other BCDA-administered zones.

‘This will contribute to the implementation of the Luzon Bypass Infrastructure Program by ensuring that high-speed internet connectivity reaches local communities and benefits Filipinos,’ BCDA said.

Bingcang said the collaboration projects with Japanese partners are expected to ‘deliver direct benefits to Filipinos by creating jobs, attracting investments, and improving quality of life.’

Philippine Ambassador to Japan Mylene de Joya Garcia-Albano, who witnessed the signing of MOUs, said the agreements ‘represent a shared commitment to collaboration, innovation, and sustainable growth.’

‘We are confident that these MOUs will pave the way for more meaningful business opportunities, foster stronger partnerships, and deliver tangible benefits not only to the companies involved but also to the broader Philippine-Japan economic relationship,’ Garcia-Albano said.

The BCDA also said its delegation will also meet with officials of the Japan Overseas Infrastructure Investment Corporation for Transport and Urban Development to align directions and strategies for the development of New Clark City.

The BCDA team will also visit the Shinagawa Waste-to-Energy Plant to benchmark operations and observe the management and technical aspects of the facilities before it wraps up its mission on October 3.

The agricultural damage caused by recent typhoons and the southwest monsoon surged to more than P2.5 billion, the Department of Agriculture (DA) said on Wednesday.

In its latest report, the DA noted that the losses incurred by 85,671 farmers and fishers have reached P2.51 billion, with the volume of production damage across 11 regions pegged at 186,253 metric tons (MT).

Rice bore the brunt of the damage caused by the combined effects of the southwest monsoon and typhoons Mirasol, Nando, and Opong at 134,901 MT.

High-value crops, corn, and cassava also sustained damage at 32,470 MT, 18,871 MT, and 10 MT, respectively.

The report said the value of production losses is P1.51 billion for rice, P705.12 million for high-value crops, P278.14 million for corn, P8.12 million for livestock and poultry, and P260,000 for cassava.

Agriculture infrastructure also sustained damages amounting to P4.72 million; irrigation facilities, P3.28 million; and machinery and equipment, P143,000.

The DA said 74,689 hectares of agricultural areas were affected by the storms and habagat. Of these, 66,967 hectares have a chance to recover.

The agency said it has allocated P766.42 million in agricultural inputs, including rice, corn, and vegetable seeds that would help those affected by typhoons. Drugs and biologics for livestock were also included.

The DA said it offers loans of up to P25,000 through the Survival and Recovery loan program from the Agricultural Credit Policy Council (ACPC). These loans come with a three-year repayment term, interest-free.

It also noted that an initial amount of P237 million for the indemnification of insured affected farmers would also be released through the Philippine Crop Insurance Corp. (PCIC).

The DA recently said it continues to gather field reports from areas affected by severe tropical storm Opong, which recently swept through key agricultural zones in central Philippines, including the islands of Mindoro and Masbate.

Last month, the agency revised downward its palay production forecast for 2025 to 20.3 million metric tons (MMT).

Agriculture Secretary Francisco Tiu Laurel Jr. announced the revised forecast for paddy rice output in 2025 during a recent hearing on the agency’s budget at the House of Representatives.

‘We revised our target from what we can see until the end of this year. We slightly lowered it to 20.3 MMT.’

The latest figure is lower than the agency’s initial projection of 20.45 MMT. However, this is around 300,000 metric tons (MT) more than the record 20.06 MMT output in 2023.

The country’s rice production fell by nearly a million tons to 19.09 MMT last year as El Niño ravaged plantations.

Because of the supply shortfall caused by the drought, the country’s rice imports reached an all-time high of 4.8 MMT last year.

THE country’s raw sugar production could fall below two million metric tons (MMT) in the new crop year as torrential downpours and pest infestation battered plantations in Negros.

The Sugar Regulatory Administration (SRA) issued Sugar Order 1, where it indicated that raw sugar output in the crop year 2025-2026 could decline by nearly 8 percent to 1.92 MMT from the previous crop year’s 2.085 MMT.

SRA Administrator Pablo Luis Azcona told the BusinessMirror that the projected outlook in the upcoming crop year, set to begin on October 1, stemmed from excessive rainfall in Negros, which accounts for over 60 percent of the country’s sugar production.

The agency noted that the initial forecast could further decrease owing to the potential impact of red-striped soft-scale insects (RSSI) infestation on yield.

‘It’s an estimate based on the heavy rainfall experienced in the north of Negros, and [there] might be a small drop considering the presence of RSSI,’ Azcona told this newspaper.

Under the SO 1, the raw sugar allocation for the new crop year would be classified as ‘B,’ which means all sugar produced until September 30 next year will be sold for domestic consumption.

The SRA said the agency has been classifying sugar output as ‘B’ since 2022 because the country’s production is still below the requirement of the domestic market.

While the impact of RSSI on sugar content was the easiest to monitor, he raised a caveat that the infestation’s impact could potentially trickle into the cane’s growth.

‘In the North, they said canes that were infected at their early stage didn’t seem to grow. So, maybe there’s also an effect on tonnage,’ Azcona said.

With the latest findings, the SRA chief noted that the agency now expects raw sugar output to fall by around 10 percent.

‘We reduced [our forecast] a bit and then we’re leaving room plus or minus a few percentage points, give or take about 10 percent, just in case the infestation can’t be curbed,’ he said.

‘Our fear is that once the milling starts, the sugarcanes will be going around all over Negros. There’s a high chance that the infestation will affect more areas.’

Azcona said the pest has infected around 6,600 hectares of sugar plantations nationwide as of mid-September, with the infestation in Negros Island accounting for the lion’s share at 4,200 hectares.

The Commission on Elections (Comelec) on Wednesday announced that the cancellation of the registration of the Duterte Youth party-list is now final and executory.

This follows the group’s failure to secure a temporary restraining order (TRO) from the Supreme Court to stop the poll body from implementing its ruling.

In its statement, the Comelec reiterated that the commission’s Second Division earlier declared Duterte Youth’s registration void ab initio for failing to comply with publication and hearing requirements.

‘With the issuance of the Certificate of Finality and Entry of Judgment, the Order of the Commission En Banc as to the cancellation of the party-list registration of Duterte Youth is now declared immediately executory,’ the Comelec said.

The poll body also cited other grounds for cancellation, including untruthful statements in the group’s petition, questions on the eligibility of its nominees, and the lack of genuine intent to represent the youth sector.

It further noted that Duterte Youth was linked to the National Youth Commission, had promoted unlawful means to advance its objectives, violated election laws and regulations, and filed its petition in a manner that placed the electoral process in disrepute.

Duterte Youth garnered 2.33 million votes in the May 2025 midterm elections-the second-highest among party-list groups-which would have entitled it to three seats in the House of Representatives had its registration not been canceled.

The poll body said it would proclaim the three new holders of the vacated seats on Thursday afternoon.

THE global travel and tourism sector is headed for another record-breaking year, projected to contribute an historic high of US$2.1 trillion to the worldwide economy, surpassing the record high of $1.9 trillion in prepandemic 2019 by 10.5 percent.

At the launch of its latest Economic Impact Report (EIR) at the 2025 World Travel and Tourism Council (WTTC) Global Summit in Rome on Monday, WTTC Interim Chief Executive Officer Gloria Guevara said: ‘These results tell a story of strength and opportunity. The United States remains the world’s largest travel and tourism market, China is surging back, Europe is powering ahead, and destinations across the Middle East, Asia, and Africa are delivering record growth.’

The EIR also showed that 371 million jobs are estimated to be supported by the travel and tourism sector, almost 4 percent more than the 357 million jobs last year. ‘By 2035, one in eight jobs worldwide will be supported by travel and tourism, with an additional 91 million new jobs supported, the majority in the Asia-Pacific region, resulting in one in three new jobs globally supported by the sector,’ the report added.

Confidence in the sector remains strong with the EIR seeing global investment continue to rise this year after exceeding $1 trillion in 2024. Last year’s investment level was 9 percent more than in 2023.

‘The US, China, Saudi Arabia, and France together accounted for more than half a trillion dollars of that investment [last year],’ the reported noted.

Most powerful market

Despite being the ‘world’s most powerful travel and tourism market,’ the US will attract less tourist spend this year, falling by $12.5 billion, such that total spending will inch up a mere 0.7 percent. The group warned that ‘without destination promotion, traveler-friendly policies, and reduced visa costs, it could lose its competitive edge.’

The US contributed $2.6 trillion to its economy, as expressed in gross domestic product (GDP), in 2024. The report pointed to the US domestic market as the ‘strongest in the world, sustaining millions of jobs and underpinning sector resilience.’

China is the world’s second-largest market and is projected to contribute over $2 trillion to its economy, 22.7 percent from 2024. ‘This highlights China’s rapid return to international prominence and its pivotal role in shaping global travel flows,’ said the WTTC.

Japan, the world’s most popular destination according to global travel surveys, is estimated to add $13.8 billion to its GDP this year, and reach close to $325 billion. As per EIR, the country’s is the world’s fifth largest travel and tourism market.

Fastest-growing region

Meanwhile, the Middle East remains one of the fastest-growing regions in the world for travel and tourism, with Saudi Arabia continuing to stand out as a ‘global powerhouse, with inbound visitor spend surging and infrastructure investment reaching record levels.’

Earlier, the WTTC projected tourism’s contribution to the Philippine economy at 21 percent, adding some $102.6 billion to the GDP this year. This represents an 11.8-percent change from $91.8 billion GDP contribution in 2024, although a slower growth from the 27.6-percent, year-on-year change in 2024/2023. This year’s estimated tourism contribution is 13.5 percent higher than the prepandemic $90.4 billion recorded. (See, ‘Int’l tourism spending in PHL to breach pre-Covid levels,’ in the BusinessMirror, June 16, 2025.)

From September 28 to 30, over a thousand delegates, including 310 chief executive officers and chairs, will explore opportunities and challenges shaping the future of travel and tourism at the global summit.

WTTC officials said, among the key trends this year are ‘a demand for experience-led and sustainable travel, the integration of artificial intelligence [AI], shifts in consumer preferences, the growth of the short-term rental market, and the ongoing importance of business travel.’

THE country’s leading media company, GMA Network marked a significant milestone in its partnership with Cut Unlimited Inc. during a mediacon held on September 24 in Quezon City. Anchored in generosity, community, and the spirit of Christmas, the collaboration has flourished for 25 years through the metro’s longest-running holiday shopping fair, the annual Noel Bazaar.

Known for its much-anticipated GMA Celebrity Ukay-Ukay, where shoppers can purchase pre-loved items from popular and beloved stars and personalities from the network, the Noel Bazaar has also provided opportunities for independent merchants to market their unique, artisanal products. Part of the proceeds are then donated to the GMA Kapuso Foundation (GMAKF), providing further support for its ongoing projects and initiatives.

GMA Network vice president for corporate affairs and communications Angela Javier Cruz highlighted the enduring alliance between the network and Cut Unlimited during her speech at the event: ‘In our ever-changing world, some partnerships are really meant to last and become stronger through time.’

Meanwhile, GMA Kapuso Foundation executive vice president and COO Rikki O. Escudero-Catibog spoke of the impact of the partnership for its education programs, which further support schoolchildren with school supplies and the construction of earthquake-proof and typhoon-resistant school buildings.

The mediacon was also attended by Cut Unlimited managing director Justine Bautista-Reyes, marketing manager Maxine Sabandal, and the Noel Bazaar ambassadors, Sparkle GMA Artist Center’s Skye Chua and the P-pop group Cloud 7.

This year’s Noel Bazaar will have over 500 merchants. Shoppers can drop by and purchase fashion finds, accessories, and many more at the following venues and dates: Filinvest Tent in Alabang from October 17 to 19; Okada, Manila from November 14 to 16; World Trade Center from November 26 to 30. The Noel Bazaar then returns to the Filinvest Tent in Alabang from December 18 to 21.

ELECTION-LAWYER Romulo Macalintal has asked the Supreme Court (SC) to look into the circumstances surrounding the notarization of sworn documents submitted as annexes by the Liga ng Mga Barangay sa Pilipinas (LMBP) in their bid to intervene in the petitions seeking to declare as constitutional Republic Act No. 12232 that extended the term of office of the incumbent barangay and Sangguniang Kabataan (SK) officials from three to four years.

Macalintal made the request in his nine-page ‘very urgent manifestation of grave concern with motion to clarify authenticity of certain sworn documents in intervenors’ petition for intervention’ filed last Monday before the Court.

The lawyer made the manifestation after learning that the sworn documents were notarized by controversial lawyer Petchie Rose Espera, who earlier denied and disowned the signature and notarization appearing on the affidavit submitted by Orly Regala Guteza during his appearance as witness in the Senate Blue Ribbon Committee’s investigation on the anomalous flood control projects of the government.

In his affidavit, Guteza claimed that he formerly served as security consultant for resigned Ako Bicol Party-list Rep. Elizalde ‘Zaldy’ Co and was tasked to deliver suitcases containing millions of pesos each to residences of Co and former House Speaker Martin Romualdez.

Macalintal noted that the signature now being disowned by Espera is the same signature of the notary public on the various sworn documents submitted by LMBP as part of the petition in intervention.

He pointed out that multiple verifications, certifications of non-forum shopping, and special powers of attorney from barangay officials across different municipalities were all purportedly subscribed and sworn before Espera on a single day, August 18, 2025.

He also noted that Espera’s signature on some of the sworn documents attached to the petition-in-intervention closely resembled the notary public’s signature on Guteza’s affidavit, indicating that it was done by the same person.

‘With due respect, petitioner finds it highly suspect how all these punong barangays in different parts of the Philippines could be gathered to prepare, explain, and adopt various resolutions [which share extremely similar wordings] and verification and certification of non-forum shopping just in one day by the same notary public,’ Macalintal stressed.

‘Hence, in view of the startling revelation, it is the petitioner’s respectful submission that the intervenors and their counsels should be directed to explain the circumstances surrounding the notarization of their aforesaid sworn statements and clarify whether they are personally subscribed and attested their respective documents before Atty. Espera,’ he added.

Macalintal explains that notarization is not a routinary act and that a public document is entitled to ‘full faith and credit,’ which makes the issue of its authenticity a matter of grave concern.

In their petitioner-in-intervention, the LMBP asked the Court to declare as constitutional Republic Act No. 12232 which effectively postponed to November 2, 2026 the Barangay and Sangguniang Kabataan Elections (BSKE) originally set on December 1, 2025.

The two original petitions to declare as unconstitutional RA 12232 were filed by Macalintal and voters represented by Mystro Yushi P. Fujii et al.

The SC has acted on Macalintal’s petition and required the Senate, the House of Representatives, the Office of the President through the Office of the Executive Secretary, and the Commission on Elections (Comelec) to submit their comments.

The comments were required not only on the petition but also on Macalintal’s plea for TRO.

Century Properties Group Inc. (PSE: CPG) announces its inclusion in the Financial Times Stock Exchange (FTSE) Global Equity Index Series (GEIS)- Microcap Index effective September 22, 2025.

The FTSE Microcap Index is part of the globally recognized FTSE Global Equity Index Series, which serves as a benchmark for institutional investors and fund managers worldwide. Inclusion in the index enhances the company’s visibility in global capital markets and may potentially increase liquidity and broaden its shareholder base.

CPG was added to the FTSE Microcap Index effective September 22, 2025, affirming the company’s growth prospects, increased market capitalization, enhanced liquidity, and higher free float. CPG’s free float has also improved from 27.4 percent to 34.21 percent after the Social Security System (SSS) bought a 6.4 percent stake in July 2025.

Over a period of three years from 2022, CPG has recorded a strong financial performance as it sustained its net income growth, increasing from P1.405 billion in 2022 to P1.855 billion in 2023, to P2.443 billion in 2024, reflecting a 32 percent and 31.7 percent year-on-year improvement, respectively.

‘We are honored by this inclusion, which represents a key milestone in our growth trajectory, said Marco R. Antonio, President and CEO of CPG. ‘This recognition underscores the strength of our business model and our commitment to delivering long-term value to our stakeholders-from homebuyers and communities to our shareholders,’ he added.

At the end of the trading week on September 19, CPG closed at P0.69 per share, 68 percent higher year-to-date and 89 percent compared to its level in the previous year.