Category: Business Mirror

THE inaugural 5150 Triathlon Islands of the Philippines Series heads into its finale on September 20 with a deep field of veterans and emerging stars converging in Samal Island in Davao del Norte.

The Damosa Land 5150 feafures a demanding Olympic-distance course-1.5-km swim, 40-km bike and 10-km run-set against the backdrop of Samal’s white-sand beaches, smooth highways and strong community support.

The series is supported by the Tourism Infrastructure and Enterprise Zone Authority and kicked off in Guimaras in March, moved to Camiguin in May and made its third stop in Bohol.

Samal hosted the blue-ribbon event for the first time last year, producing a memorable debut as Eryk Omamdam and Natasha Doromal-Lim emerged as the overall champions.

Omamdam also topped the men’s 20-24 age-group division, while Doromal-Lim ruled the women’s 30-34 category.

Organized by Sunrise Events Inc., the 5150 Triathlon Islands Series forms a key component of the National Sports Tourism-Inter Agency Council’s program to position the Philippines as a premier destination for world-class sporting events.

Fifty years after the first excavation on September 3, 1976, archaeologists from the National Museum of the Philippines (NMP) uncovered what they believe are the remains of another ancient wooden boat during a recently concluded confirmatory excavation in Barangay Libertad. This discovery could further expand the archaeological record of the country’s oldest known plank-built vessels and reinforce the city’s role as a major maritime trading center more than a thousand years ago.

‘The initial assessment is certainly significant. If this is not the previously identified Butuan Boat 3, then it raises an even more exciting possibility: there may be more ancient boats and archaeological treasures beneath the site waiting to be discovered,’ said Eunice M. Plaza, head of the NMP-Butuan.

Plaza pointed out that with 11 Butuan Boats reported to date, the possibility of additional boat remains underscores how much there is still to learn about Butuan’s maritime past.

‘This is not only good news for Butuan, but for the entire country as it highlights the depth of our maritime heritage and the need for continued archaeological research and the careful protection of these archaeological sites that contain irreplaceable evidence of our past,’ she added.

The NMP-Butuan cited that the new findings was revealed during the Exit Conference on July 29, 2026 of the archaeological excavation and documentation activity on the Butuan boats at the two sites in Barangay Libertad.

The excavation at the privately-owned Torralba site revealed three wooden planks, including one bearing lugs known as wooden projections characteristic of the famed Butuan boats, prompting researchers to conclude that the remains are almost certainly part of an ancient vessel.

Nero M. Austero, Senior Museum Researcher, NMP-Maritime and Underwater Cultural Heritage Division (NMP-MUCHD), the project team leader of the excavation, said that the new planks they discovered in the new excavation sites might possibly be a new balangay boat that has not yet been previously recorded and documented.

‘Based on what we’ve seen, the planks that we have excavated have the characteristic of a Butuan boat. We are just not sure if these new sites from the previously cited areas where the documentation were lost, like boats 10 and 11 that really don’t have records-so when we are finally sure that these don’t belong to any of the recorded sites, then it will be the time that we might call them boat 12 or 13,’ said Austero.

Austero emphasized that they will still have to resort all means to find the old records to counter verify if the planks found in the newly excavated sites are really not from the older recorded excavation that got lost in the records or if these are boats 3, 6, 7, and 8.

‘Last year, when we started the new excavation, we assumed that it was boat 3 but based on previous reports and photographs, we compared them and found out that it is not the same boat,’ said Austero, citing the recent excavation at the Toyota Butuan area which concluded on July 25.

The archeologist explained that one of the key questions they are looking at is: what boat-building technology was used, as he noted the various boat-building technologies used on different boats.

‘For example, boat 9 has a different boat-building technology, does not have any lugs, what this mean is that it doesn’t have lashed-lug, which is used for the lashing technique in tying the frames, so boat number 9 is interesting,’ explained Austero, adding that the next question would be who built them. He cited different theories on whether they were made in Butuan or elsewhere then brought to Butuan; and who built them, as they are using different techniques in building the boats.

Lashed-lug boats are ancient boat-building techniques of the Austronesian peoples. It is characterized by the use of raised lugs which are also called ‘cleats’ on the inner face of the hull planks.

Austero added that another good question is, after the height of this technology, there are recorded new boats by the 19th century revealing a gap as to the time where the boats used only dowels, no nails, raising the question where the technology ended. A city built by trade

Long before Spanish colonization, Butuan had already established itself as one of Southeast Asia’s earliest trading centers.

Austero cited historical records from Chinese annals indicatinng that as early as the 10th century, Butuan was already sending trading missions to China even before its formally documented tributary missions.

‘As early as the 10th century, there were reports written on the Chinese annals,’ Austero said. ‘The people of Butuan were already negotiating and trading with the Chinese.’

Historical data suggests that by the late 12th century, Butuan had become part of an integrated regional trading network linking settlements across present-day Luzon, the Visayas, and Mindanao.

Archaeological evidence suggests these communities flourished around the mouth of the Agusan River and Butuan Bay, locations that naturally evolved into trading settlements.

‘Ancient settlements usually begin at the mouth of rivers,’ Austero explained. ‘The Agusan River played an important role in commerce and trade even in ancient times.’

Geological studies also explain why ancient boats were eventually buried beneath today’s landscape.

Thousands of years ago, the Agusan River flowed differently. Over centuries, sedimentation gradually altered its course, sealing former river channels beneath thick layers of silt and preserving the wooden vessels in waterlogged conditions.

Geological studies suggest that the Agusan river basin was formed from centuries of floodings swallowing the flood plains of Butuan-events that contributed to fertile farm land areas along the valleys near the river deltas.

THE cost of servicing the government’s debt climbed by half in the first seven months of 2026, as principal repayments more than doubled from a year earlier.

Total debt service surged by 55.90 percent to P1.366 trillion as of end-July from P876.164 billion in the same period last year, latest data from the Bureau of the Treasury showed.

The increase was driven primarily by a sharp rise in amortization, or payments toward the principal of the government’s debt, which doubled to P745.818 billion.

Amortization went up by 110.01 percent from P355.124 billion a year ago and accounts for 54.57 percent of the total debt service bill.

The government shelled out P631.042 billion in domestic amortization, which includes payments made through the Bond Sinking Fund. Some P114.776 billion in amortization was for foreign creditors.

Meanwhile, interest payments rose by 19.15 percent year-on-year to P620.865 billion as of end-July from P521.040 billion. This accounts for 45.43 percent of the total debt service for the seven-month period.

The bulk of the interest payments went toward fixed-rate Treasury bonds at P330.651 billion, while P91.059 billion went to retail Treasury bonds and P30.060 billion to Treasury bills. External creditors were also paid P161.299 billion in interest as of end-July.

For July alone, debt service amounted to P139.991 billion, 29.55 percent higher than the P108.055 billion spent a year ago.

Higher interest payments pushed up the debt service bill, increasing by 29.14 percent year-on-year to P137.175 billion from P106.219 billion.

Creditors were likewise paid P2.816 billion in amortization, 53.37 percent higher than last year’s P1.836 billion.

This year, the government allotted P2.045 trillion for debt servicing. About P1.049 trillion will be spent for principal amortization, while P995.610 billion will be for interest payments.

Interest payments alone would account for 15.47 percent, or P1.114 trillion, of next year’s proposed P7.2-trillion national budget.

As of end-July, the national government’s outstanding debt climbed to a new record high of P19.39 trillion, up by 1.70 percent from P19.07 trillion at end-June due to more domestic and external borrowings and a weaker peso.

The debt-to-GDP ratio rose to 66 percent in the second quarter, the highest since 2004, after the economy grew by only 2.3 percent.

By the end of 2027, the outstanding debt is projected to reach P21.479 trillion. Domestic debt is estimated at P14.282 trillion, while foreign obligations are seen to reach P7.197 trillion.

Government opened the bidding on Friday for the construction of the north section of the bypass road project that would connect this city to the Davao del Norte city of Panabo.

The Package II-3, or the north section of the project, has a budget of P4.38 billion for the construction of the 12.1-kilometer secton. This will connect barangay Mahayag of Bunawan District up to Mudiang and crossing the Lasang River towards the national highway to Panabo City.

The bid contract requires contractor to complete the section in 1,080 calendar days, or three years.

The project is part of the Davao City Bypass Road project that will start from highway barangay Sirawan in the southwestern district of Toril going up to steer away from the downtown and central business district of the city. It cuts through a mountain pass with the country’s longest twin-tube tunnel road spanning 2.3 kilometers in barangay Waan and across deep valleys and northern forests where construction has reached barangay Mahayag in Bunawan.

The project is assisted by the Japan International Cooperation Agency and has a total cost of P70.81 billion. It is expected to reduce travel time between the two cities from one hour and 44 minutes to 49 minutes.

The entire project has the initial target completion of 2028 although construction was just started at the south section of the project, from the Tacunan area in Tugbok going to the south end’s Barangay Sirawan in Toril.

ALL three winners in the first four legs of the Ladies Philippine Golf Tour (LPGT) brace for what promises to be a furious and spirited battle for another crown as the ICTSI Summit Point Championship blasts off Tuesday at the Summit Point Golf and Country Club in Lipa City.

The monsoon rains that have drenched the course in recent weeks could add another layer to an already demanding test and although Summit Point is all-weather designed to withstand wet conditions, the softened fairways could alter the way the compact field attacks the layout, making distance control, approach shots and course management even more crucial in the P1-million championship.

Leg winners Yvon Bisera, Harmie Constantino and Chanelle Avaricio are all primed to heat up the title chase, but they face former leg champions and emerging stars equally determined to break into the championship picture.

Bisera comes in as the player to beat after scoring a runaway seven-shot victory over Chihiro Ikeda at Pradera Verde in the last LPGT leg.

But Bisera expects an entirely different challenge at Summit Point, where the layout and playing conditions present a contrasting test and her rivals are all geared up for a much tighter fight.

The Davaoeña star, who topped the kickoff leg at Lakewood, is also using the tournament as part of her buildup for her maiden Korean Ladies Professional Golf Association stint later this month, giving her added motivation to sharpen her game and sustain the momentum she has built on the local circuit.

Constantino routed the field by six shots at Caliraya Springs to snap a long title drought, then followed it up with a joint runner-up finish with Tiffany Lee at Pinewoods before winding up third at Pradera Verde.

Avaricio, meanwhile, seeks to flash the form that carried her to victory in the wild and tightly fought Pinewoods leg as she kept herself tournament-ready by competing in China two weeks.

Reigning Order of Merit champion Sarah Ababa and fellow former leg winners Mafy Singson, Princess Superal, Ikeda and Lee are all primed for another title run, as well as Martina Miñoza, Pamela Mariano, Velinda Castil, Rev Alcantara, Angela Mangana, Gretchen Villacencio and Korean Seoyun Kim.

Attention will also be on Daniella Uy, another multi-titled campaigner who emerged as the best Filipina finisher at joint 12th in the ICTSI Philippine Ladies Masters held at this same Robert Trent Jones Jr.-designed layout last February.

With a third LPGT crown within sight and her first Korean LPGA appearance looming later this month, the 2025 Thailand Masters winner enters Summit Point with more than another championship at stake.

FISHERMEN from Bulacan belonging to the Pambansang Lakas ng Kilusang Mamamalakaya ng Pilipinas (Pamalakaya), together with allies from Samahan ng Mandaragat ng Bulacan (Sama-Bulacan), held a coastal protest action in barangay Binuangan, Obando, Bulacan, to denounce the reclamation projects in Manila Bay.

The protesters said reclamation and other coastal development projects have reduced their traditional fishing grounds, forcing them to compete for limited space in rivers and travel farther from their communities in search of fish.

‘We are experiencing increasing difficulty in sustaining our families as our catch and income decline. The situation becomes even harder during adverse weather conditions, including strong waves brought by habagat. Despite the risks, many of us continue to go out to sea because fishing remains our primary source of livelihood,’ the groups said.

The protest focused on an approximately 36-hectare fishpond in Binuangan, part of more than 600 hectares of fishpond areas in Bulakan and Obando acquired by San Miguel Corporation (SMC) as part of its 2,500-hectare New Manila International Airport (Nmia) project.

Sama-Bulacan said the fishpond areas have remained idle while small-scale fishermen continue to lose access to productive fishing grounds.

‘Ramon Ang and the San Miguel Corporation must be held accountable for their plunder of our environment and fisheries. While fishermen continue to be deprived of their livelihood and fishing grounds, vast areas of our coastlines are being seized and destroyed for the interests of large corporations,’ Pamalakaya Vice Chairperson Ronnel Arambulo said.

The groups called for the productive use of the idle fishponds for the benefit of local fishing communities and reiterated their demand to stop reclamation projects that threaten fisherfolk livelihoods and coastal ecosystems across Manila Bay.

Pamalakaya also reiterated its call for the immediate halt of all reclamation projects and sand dredging activities at Manila Bay.

PHILIPPINE manufacturing growth lost some momentum in July as the sector faced slower increases in both production volume and value, according to the Philippine Statistics Authority (PSA).

Results of the Monthly Integrated Survey of Selected Industries (Missi) showed that the Volume of Production Index (VoPI) rose 6.4 in July, slower than the revised 10.6-percent growth in June.

In July 2025, the index declined by 0.1 percent.

The moderation in production volume was mainly driven by slower growth in the manufacture of coke and refined petroleum products, which expanded by 43.8 percent in July from 87 percent a month earlier.

The manufacture of computer, electronic and optical products also posted slower growth at 10.8 percent, compared with 16.3 percent in the previous month.

Still, several industries continued to post growth during the month. Of the 22 manufacturing industry divisions, PSA said 11 recorded annual increases in production volume, while nine posted declines.

The Value of Production Index (VaPI) also slowed in July, increasing by 9.6 percent from 13.9 percent in June. In July 2025, VaPI contracted by 0.2 percent.

The manufacture of coke and refined petroleum products again accounted for much of the moderation.

Its VaPI growth slowed to 47.2 percent in July from 89.3 percent in June, contributing 61.4 percent to the deceleration in overall manufacturing VaPI growth.

Meanwhile, the manufacture of computer, electronic and optical products posted 17.2-percent growth in VaPI, slower than the 22.8 percent recorded in June.

Despite the slower production growth, PSA said capacity utilization remained broadly steady in July.

The average capacity utilization rate stood at 78.8 percent, slightly lower than the 78.9 percent recorded in June but higher than the 77.6 percent posted in July 2025.

Of the 739 establishments that responded to the PSA survey, 36.7 percent operated at 90 percent to 100 percent capacity, while 38.3 percent operated at 70 percent to 89 percent capacity. Another 25 percent operated below 70-percent capacity.

Tobacco products recorded the highest utilization rate at 85.6 percent, followed by coke and refined petroleum products and leather and related products, including footwear, both at 83.5 percent.

The Missi or the Production Index and Net Sales Index monitors the production, net sales, inventories, and capacity utilization of selected manufacturing establishments to provide flash indicators on the performance of the manufacturing sector.

THE Land Transportation Franchising and Regulatory Board (LTFRB) said on Sunday it has approved 8,750 new slots for ride-hailing service in Metro Manila, the Ilocos Region and the Bicol Region, with the entire Metro Manila allocation restricted to electric vehicles.

Of the total, 7,500 Transport Network Vehicle Service (TNVS) slots were opened for the National Capital Region (NCR)-the largest single allocation-and these will be available only to plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs).

‘Conventional internal combustion engine [ICE] vehicles, hybrid electric vehicles [HEVs] other than PHEVs, and other vehicle technologies that do not fall within the BEV or PHEV classifications shall not be eligible for the slots opened herein,’ LTFRB Memorandum Circular 2026-084 read.

The circular added that ‘the classification of the vehicle as a BEV or PHEV shall be based on its registration and classification by the Land Transportation Office [LTO] and other applicable government standards and issuances.’

Acting LTFRB Chairman Greg G. Pua Jr. said the electric-only condition follows the national government’s push for a modern and environment-friendly public transportation system.

In his recent State of the Nation Address, President Ferdinand Marcos Jr. committed support to modern public transportation and set a goal of having half of all vehicles on the road running on electricity by 2040.

The board opened 650 slots for the Ilocos Region, half of which are reserved for electric vehicles.

Under LTFRB Memorandum Circular 2026-88, Ilocos Norte was allocated 150 slots-75 for internal combustion engine units and 75 for non-internal combustion engine units. The same allocation and split were approved for Ilocos Sur and La Union. Pangasinan received 200 slots, evenly divided between the two categories.

In the Bicol Region, 600 TNVS slots were approved under LTFRB Memorandum Circular 2026-86, with half likewise allocated to electric vehicles.

Pua said the decision to open the slots was based on monitoring and study of prevailing transport conditions, which showed that existing TNVS allocations were insufficient to cover the geographic reach and rising commuter volumes in Metro Manila, the Ilocos Region and the Bicol Region.

Feedback from stakeholders also supported the case for a larger allocation given passenger demand, he said.

He added that a separate review pointed to increased economic activity as a major factor, citing expanding urban, commercial, government and tourism centers that are generating demand for safe, reliable, accessible and technology-enabled transport services for residents and visitors.

‘We in the LTFRB are sensitive to the request and demand from the people and the opening of the slots is also in support of the government’s aggressive economic push across the country,’ Pua said.

Applications for the new slots will open once the memorandum circulars covering the decision are published in a newspaper of general circulation.

Russian President Vladimir Putin hosted US envoys Steve Witkoff and Jared Kushner for more than three hours of talks in Moscow that a Kremlin aide called ‘highly useful,’ setting the stage for the pair’s planned trip to Kyiv to meet Ukrainian leaders on Sunday.

Putin’s meeting with President Donald Trump’s envoys was ‘substantive, constructive, extremely frank and trusting,’ Kremlin foreign policy aide Yuri Ushakov said in comments distributed by Russian media. ‘Our president reaffirmed his readiness to continue working jointly with the Americans to seek political and diplomatic solutions.’

They also discussed economic matters and potential Russian-US projects ‘in considerable detail,’ Ushakov said. A White House official said the two sides discussed substantive plans for next steps, which will be announced in coming weeks.

The trip by Witkoff and Kushner signaled a renewed attempt by Trump to stop a war that began with Russia’s full-scale invasion in early 2022 and that the US president once said he could swiftly end. Putin ordered Russian forces to pause airstrikes on Kyiv as the two envoys prepared to visit the Ukrainian capital for the first time since the war began.

Putin opened the talks by calling the situation the sides have to resolve ‘not a simple one’ and asked the US envoys to pass on his best wishes to Trump.

Yet multiple previous trips to Moscow by Witkoff and Kushner failed to yield progress and the Kremlin signaled no intention after the latest talks to back off its military goals in Ukraine.

Putin is ready to stop the war only on his own terms, and Moscow’s demands are getting tougher because it believes it has the military edge over Ukraine, according to people close to the Kremlin, who asked not to be identified discussing sensitive matters.

Ushakov said the ‘Russian side pointed to what it described as the Russian army’s tangible successes in advancing in the combat zone, expressed confidence that the stated objectives would be achieved.’ Witkoff and Kushner departed Moscow after the talks, the state-run Tass news agency reported.

Kremlin spokesman Dmitry Peskov said earlier Saturday that the Kremlin had received information that Kyiv would also halt fire for three days.

Ahead of the talks, Putin spent part of Saturday marking Moscow’s City Day. He appeared at the Zaryadye Park adjacent to Red Square with Mayor Sergei Sobyanin, congratulating him on being named a Hero of Labor, and met the five figures leading the United Russia party into the State Duma elections this month.

Witkoff and Kushner had lunch at a Moscow restaurant with Kirill Dmitriev, Putin’s envoy for economic cooperation with the US, Russian media reported.

Ukrainian President Volodymyr Zelenskyy said on X that he’d spoken with the US envoys after their arrival in Moscow. Kyiv’s goal is to make the visit ‘as constructive and substantive as possible,’ he said.

‘From the moment of this conversation, we are ready to observe a ceasefire in airstrikes against the cities involved in the negotiation process,’ Zelenskyy said. ‘From now through the end of Saturday, as well as on Sunday and Monday, Ukraine is ready to refrain from strikes on Moscow, and we expect the Russians to do the same regarding Kyiv.’

Despite the temporary halt in strikes floated by Putin, air-raid sirens sounded on and off in Kyiv on Saturday afternoon and an attack was reported in Khmelnyskyi in western Ukraine, with four people injured.

Speaking in the Oval Office on Friday, Trump said his envoys were ‘bringing with them a proposal to end the war,’ without elaborating.

From September 17 to 19, 2026, the Taiwan Healthcare Pavilion will take center stage at Booth No. 1 at the SMX Convention Center Manila as part of the Taiwan Expo 2026.

Featuring 21 prominent Taiwanese hospitals and companies, the pavilion will highlight Taiwan’s world-class leadership across four key sections: Medical Services, Medical Devices, Regenerative Medicine, and Biotech and Everyday Wellness Solutions.

Visitors to the pavilion will experience firsthand how Taiwanese healthcare integrates advanced technologies with modern medical science. Attendees are also invited to join an exclusive Product Launch on September 17 from 3:30 p.m. to 4:30 p.m, highlighting advanced medical innovations.

In the Medical Services sector, top-tier institutions-including Shin Kong Wu Ho-Su Memorial

Hospital, Hualien Tzu Chi Hospital, Taipei Municipal Wanfang Hospital, Chang Bing Show Chwan Memorial Hospital, and Shuang Ho Hospital-will showcase international patient care, specialized medical services, and integrated healthcare solutions.

Highlighting the power of Medical Devices, Far East Medical Electronics Technology will showcase its latest telemedicine systems and smart care solutions. Quanta Computer is set to feature the QOCA o2b pulse oximeter for continuous blood oxygen monitoring, while Ginkgomed will present 3D anatomical software and digital pathology innovations. The pavilion will also highlight foot health technologies, smart diagnostics, and hearing aids-demonstrating how Taiwan leverages its strong ICT sector to improve the efficiency of patient care.

In the Regenerative Medicine sector, BioGend Therapeutics will showcase its innovative RevoCart One-Step Autologous Cartilage Repair System alongside Norien Biotech’s OsteoFill Gel injectable hydrogel platform, reflecting Taiwan’s growing capabilities in biomedical technology and advanced materials.

Furthermore, the Biotech and Wellness section will feature a wide range of products ranging from health supplements and algae-based formulations to medicated topical essential oils and skincare products. These offerings demonstrate how Taiwan’s healthcare industry extends beyond clinical treatment to preventive care, healthy living, and everyday wellness.

By bringing together Taiwan’s diverse industry strengths across those four sections, the Taiwan Healthcare Pavilion presents a comprehensive picture of Taiwan’s healthcare ecosystem. Taiwanese providers are actively seeking new partnerships to deliver accessible, efficient, and comprehensive healthcare solutions to the Philippine and Southeast Asian markets.

Reflecting the growing partnership between Taiwan and the Philippines, the Taiwan Healthcare Pavilion provides a vital hub for exchanging ideas, advancing medical capabilities, and shaping the future of regional care.

Trade visitors, medical professionals, and prospective business partners are encouraged to preregister for B2B matchmaking sessions and site visits via the official registration link: