Category: Business Mirror

THE defense’s refusal to immediately compare thousands of documents with the House prosecution panel is slowing the impeachment trial of Vice President Sara Duterte, whether the delay is intentional or not, a prosecution lawyer said.

House prosecution counsel and spokesperson Benjamin ‘Jay’ Tolosa Jr. said the prosecution had repeatedly sought to arrange the comparison of documents before state auditor Celine May Del Campo returns to the witness stand.

‘I do not want to judge their intentions or speculate on whether they are deliberately trying to derail or delay the proceedings,’ Tolosa said. ‘But whether it is intentional or not, I think it is clear that this is the result.’

Tolosa said the same issue arose during the pretrial conference in June, when more than 4,000 documents related to Article I had to be marked. At the time, he said, the defense rejected the prosecution’s proposal to jointly mark exhibits common to both sides.

The prosecution maintains that comparing and authenticating the documents outside the formal hearings would save trial time and prevent lengthy disputes when the records are presented as evidence.

Tolosa said the Senate impeachment court had already given both parties another opportunity to compare their respective documents outside the courtroom.

‘The message we received from them was that they wanted to do it on the 14th,’ he said.

According to Tolosa, however, the proposed date would fall after the hearing in which the prosecution intends to use the documents during Del Campo’s testimony.

He said the prosecution would inform the presiding officer of the Senate impeachment court about the situation to make clear that it was not responsible for delaying the proceedings.

‘We will have to inform the presiding officer so that it will be clear that we are not causing the delay,’ Tolosa said. ‘We are genuinely trying to find ways to expedite the proceedings, but this is what is happening.’

Disputes over the records have already forced the impeachment court to call recesses so the two sides could compare and authenticate documents during the hearings.

‘We have seen that the senator-judges were beginning to lose patience because trial time was being wasted,’ Tolosa said.

The prosecution said it was prepared to present and authenticate each document individually if the parties failed to reach an agreement. It acknowledged, however, that doing so would consume significantly more trial time.

The defense has yet to respond to Tolosa’s latest allegations.

Meanwhile, House prosecution spokesperson Robert Ace Barbers rejected Duterte’s assertion that ‘law bending’ was taking place during the impeachment trial.

Barbers said he was surprised and puzzled by the vice president’s statement and denied that the prosecution had manipulated or disregarded the law in presenting its case.

‘On behalf of the prosecution team, we vehemently deny that we are engaged in so-called ‘law bending’ in the conduct of the impeachment trial. If we are not engaged in such, then perhaps the Impeachment Court can clarify if it is engaged in such law bending. Maybe it is the court that the VP is referring to,’ Barbers said.

Barbers maintained that the evidence presented during the trial had not been manufactured by the prosecution.

He cited a video related to the grave-threat allegations against Duterte, saying both the prosecution and defense had used the recording and accepted it as evidence.

‘The video connected to the grave-threat charge is authentic. It was used by both the prosecution and the defense and was accepted as evidence,’ Barbers said.

‘Who made the threats and is now denying or attempting to justify them? Is that justification among the circumstances recognized under the Revised Penal Code?’ he asked.

Barbers also said the documents being presented in connection with the confidential and intelligence funds were the same records that the Office of the Vice President had submitted to the Commission on Audit as part of its liquidation.

‘The documents submitted by the OVP to COA for the liquidation of its confidential and intelligence funds are the same documents being presented by the prosecution. Nothing was fabricated,’ he said.

The prosecution has used the documents to support allegations of irregularities in the disbursement and liquidation of the confidential funds of the OVP and the Department of Education.

Duterte previously served concurrently as vice president and education secretary.

Barbers said the defense should instead explain why the OVP and DepEd allegedly failed to submit the proper liquidation documents despite having several lawyers in their employ.

‘If there was any law bending, perhaps the defense should explain why no proper liquidation was undertaken to prove that the confidential funds had been spent in the manner permitted by law, despite the employment of several lawyers in the OVP and DepEd,’ he said.

Globe Telecom Inc. is putting data centers at the core of its infrastructure strategy, positioning its investment in ST Telemedia Global Data Centres (STT GDC Philippines) to capture a domestic market that analysts expect to more than triple within six years.

Research and Markets valued the Philippine data center market at $633 million in 2024 and projects it will reach $1.97 billion by 2030, an increase of about 211 percent over the period, or a compound annual growth rate of more than 20 percent.

The forecast tracks a population that ranks among the world’s most digitally engaged, with roughly 97.5 million internet users driving demand for cloud services, streaming, gaming, enterprise applications and artificial intelligence (AI) workloads.

For Globe, the investment sits alongside its submarine cable builds as part of the same capital program: physical infrastructure the company argues is now as fundamental to commerce as roads or power plants.

‘Digital infrastructure works hand in hand with today’s advanced technologies,’ Globe President Carl Cruz said. ‘It enables businesses to operate, governments to deliver services, and people to stay connected. As demand continues to grow, it’s equally important that we build this infrastructure responsibly so it creates lasting value for businesses, communities, and the country.’

Enterprise customers are increasingly buying on reliability metrics rather than raw capacity, according to STT GDC Philippines President and CEO Carlo Malana, pushing operators to invest in redundant power systems, physical and network security, and business continuity provisions on top of compute.

‘Customers today expect more than capacity,’ Malana said. ‘They want infrastructure that is reliable, energy efficient, resilient, and designed to support their long-term growth. Those considerations influence every decision we make, from how we design our facilities, to how we operate them every day.’

At its Fairview campus, STT GDC Philippines has deployed a closed-loop cooling system that recycles water on site, cutting the facility’s draw on municipal supply while supporting denser computing loads. The company also used recycled steel and other lower-carbon materials in construction where specifications allowed.

The operator said its expanding footprint has generated high-value engineering and technical jobs and supported local economic activity, with community programs covering education, livelihood training and shared public spaces.

Cruz said Globe expects data centers to take on a larger role as cloud adoption and AI deployment accelerate.

‘We make sure that we create infrastructure that is resilient, responsible, and ready to support the Philippines for many years to come,’ he said.

Globe’s net income after tax fell 11 percent to P11 billion in January to June from P12.4 billion a year earlier, the listed telecommunications firm said in its recent disclosure to the Philippine Stock Exchange.

The company attributed the decline mainly to a smaller net gain from the dilution of its stake in Mynt Inc., the parent company of the group behind mobile wallet GCash, compared with the prior year, as well as higher non-operating charges.

Core net income, which strips out foreign exchange movements and mark-to-market adjustments, stood at P10.2 billion, down 2 percent year-on-year-a far narrower decline that the company said reflects the underlying health of its operations.

IN her attempt to expedite the presentation of documentary evidence in the impeachment trial of Vice President Sara Duterte, private prosecutor Lorna Kapunan jokingly remarked that she had yet to watch Odyssey in theaters. She nevertheless offered to rely on the defense’s marked documents, reasoning that, theoretically, both sides were working from the same records.

That amusing exchange led me to think about something more serious. Friends have been talking about how the movie Odyssey has brought Homer’s ancient epic into our national consciousness. Beyond the spectacle and personalities, the story speaks of loyalty, justice, deception, perseverance, and the longing for home.

And then there is Penelope. I had almost forgotten her. When I first read Homer’s Odyssey in high school, Odysseus naturally occupied center stage. But Penelope’s story may actually be more relevant to Filipinos today.

While Odysseus was away and presumed dead, Penelope was left behind in Ithaca. A group of persistent and opportunistic suitors descended upon her, each seeking to marry her and ultimately gain the power and privileges attached to her household. They pressured her relentlessly, consumed her resources, and behaved as though the throne was theirs for the taking.

Penelope refused to surrender. She devised a strategy. She promised to choose a husband after completing a burial shroud for Odysseus’ father. She would weave during the day and secretly undo her work at night. She bought time. More importantly, she refused to be manipulated into making a decision simply because everyone around her demanded one.

Perhaps that is precisely what Filipinos need to learn today. We have become a nation perpetually waiting for a political savior. Every election, another candidate appears promising to restore the country, crush corruption, punish the enemies of the people, or make the Philippines great again. We are repeatedly encouraged to believe that one person, with the right surname, political machinery, money, social-media army, or populist rhetoric can solve problems that generations of leaders have failed to address. And many Filipinos fall for it.

Our political suitors have become increasingly sophisticated. They no longer need to knock on every door. Their messages can be delivered directly into our phones. Troll farms and paid influencers can manufacture outrage, popularity, enemies, and even consensus disguised as public opinion. Political commentators can conveniently become campaign surrogates while maintaining the appearance of objectivity. And because the electorate is increasingly polarized, facts have become secondary to loyalty.

This is where the Penelope analogy becomes disturbingly relevant. Penelope was surrounded by suitors who wanted something from her. So are we, especially during election season. Our political suitors want our votes, loyalty, attention, and sometimes unquestioning obedience. They promise change but often preserve the very system that keeps them in power. Some reinvent themselves every election season. Still others rely on political machinery, family names, money, patronage, or carefully constructed online personas.

Yet the voter is not powerless. Penelope did not defeat her suitors by matching their deceit with greater deceit. She did not surrender her judgment simply because she was pressured. She waited, planned, and strategized. And when the time came, the suitors were removed.

I am certainly not suggesting that we literally eliminate corrupt politicians in the manner in which Odysseus dealt with the suitors. The democratic equivalent is much simpler: Do not vote for them. One priest once told his congregation: ‘Take the money, but vote your conscience.’ Whether one agrees with that advice or not, the larger principle is that we should never surrender our judgment simply because a politician gives us something. An ayuda lasts for a day or a week. The consequences of electing the wrong leader can last for years. This is where our collective hypocrisy becomes uncomfortable.

We complain about corruption while allowing politicians to cultivate dependence. We condemn political dynasties while repeatedly electing the same families. We criticize incompetence but reward politicians who entertain us.

We cannot have it both ways. The politician who buys a vote and the voter who sells it participate in the same transaction. The difference is that the politician keeps the office for several years while the voter is left with the consequences. That is why Penelope’s patience may be more instructive than Odysseus’ heroism.

We should stop looking for saviors and start looking for servants. We should stop asking who is popular and start asking who is trustworthy. Most of all, we should stop confusing loyalty to a politician with loyalty to the country. The political class has mastered the art of keeping us distracted. While we argue about which politician is more corrupt, institutions remain weak. While social-media armies battle over who is ‘DDS,’ ‘Dilawan,’ ‘Marcos loyalist,’ ‘anti-Marcos,’ or whatever label is fashionable, politicians continue negotiating positions, alliances, contracts, appointments, and political futures.

The most dangerous political weapon today is the ability to convince ordinary citizens that their fellow citizens are the enemy. Once we are divided, we become easier to manipulate. Once we are angry, we become easier to control. Once we become obsessed with personalities, we stop examining institutions. Perhaps it is time we learned to say no, just as Penelope did. Waiting is not the same as doing nothing. We need the patience to build institutions, educate voters, hold officials accountable, and defend the truth even when it is inconvenient to our political camp. National transformation does not happen in one election cycle.

As a follower of Jesus, I have also learned another kind of patience that comes from knowing that I am not ultimately in control. Whenever I become anxious about the Philippines and its political future, I return to Philippians 4:4-8. Believers often remember verse 6: ‘Do not be anxious about anything…’ But Paul did not begin there. He began with: ‘Rejoice in the Lord always. I will say it again: Rejoice!’

Paul was writing from prison. He was not rejoicing because everything was going well. He was rejoicing because his confidence did not depend on his circumstances. Believers do not rejoice because corruption is acceptable or injustice is tolerable. We rejoice because our ultimate hope is not in a politician, political party, or particular vision of the Philippines. Our hope is in God.

Paul continues: ‘Let your gentleness be evident to all. The Lord is near.’ That is difficult advice amid political warfare. When politicians lie, cheat, and steal, we want revenge. But Christian faith calls us to remain faithful without becoming consumed by hatred. Gentleness does not mean weakness or silence. It means refusing to believe that the fate of the country rests entirely on our ability to control every political outcome. Jesus said: ‘In this world you will have trouble. But take heart! I have overcome the world.’ (John 16:33).

That may be the greatest antidote to political anxiety. The Philippines will have another political crisis, another scandal, another political dynasty, another army of trolls telling us whom to hate, and another survey telling us who is supposedly unbeatable. As the 2028 elections approach, another politician will appear promising salvation, prosperity, revenge, or some combination of all three. Another generation of Filipinos will be tempted to believe them.

Perhaps it is time we became more like Penelope, not passive or naive, but patient, discerning, strategic, and faithful. Penelope waited for Odysseus because she believed he would return. Christians wait for something far greater. We wait for Christ.

That perspective changes everything. We can work for our country without pretending that we can save it ourselves. We can fight corruption without becoming corrupt. We can defend truth without surrendering compassion. We can oppose political abuse without allowing anger to consume us.

The Philippines does not need another political messiah. It needs citizens who understand that politicians are servants, not saviors. The suitors will keep coming, with money, machinery, slogans, surveys, influencers, trolls, promises, enemies, and manufactured narratives.

Let us listen carefully and examine their records. Let us test their promises and refuse to be rushed. And when the time comes, let us exercise the one power no political suitor should ever take from us: our vote. The suitors will keep coming in droves. Let us simply become wise enough not to marry them.

Siegfred has a diversified set of education and experiences which has made him a game changer and a servant leader in organizations. His professional degrees came from the United States Military Academy at West Point in New York, Ateneo Law School, and University of Southern California, Los Angeles, USA. His corporate experiences include stints as general counsel for the country’s flag carrier, a food exporter with manufacturing plants in Davao and in Laguna, and a sports distributor company. Siegfred is a former soldier and a lawyer by profession, a teacher and inspirational speaker by passion, and a book author and a writer with a mission.

THE Department of the Interior and Local Government (DILG), Department of Education (DepEd), and Early Childhood Care and Development Council (ECCDC) have formally signed the implementing rules (IRR) of Republic Act 12199 to promote stronger and more coordinated early childhood care and development services.

Interior Secretary Juanito Victor Remulla and Education Secretary Juan Edgardo Angara, both ex-officio co-chairmen of the ECCDC, joined the council’s vice-chairperson and executive director, Teresita Inciong, in signing the guidelines of the Early Childhood Care and Development Systems Act.

Signed into law by President Marcos in 2025, RA 12199 strengthens the ECCD system to address gaps in healthcare, nutrition, early childhood education, safety, security, and social services for children aged five and below.

The IRR establishes clear responsibilities across national government agencies and local governments (LGUs), recognizing that effective early childhood development begins in communities.

Under the guidelines, every province, city, and municipality is mandated to establish an ECCD office to oversee local programs and service delivery. LGUs are also directed to maintain functional childcare facilities, including Day Care Centers, Childminding Centers, and Health Stations, while developing childcare programs in workplaces and communities.

Local governments are tasked to provide funding for ECCD programs through available local funds, the Special Education Fund, and the Gender and Development Fund, while pursuing partnerships to expand services and reach more children.

The DILG will oversee LGU compliance with RA 12199 and provide capacity development support to strengthen local implementation.

The Department will also facilitate the integration of ECCD into the assessment criteria of the Seal of Good Local Governance (SGLG), reinforcing early childhood development as a measure of responsive and effective local governance.

Present during the signing were DILG Assistant Secretary Jesi Howard Lanete, Congressional Education Commission 2 chairman Pasig Rep. Roman Romulo and Party-list Rep. Jude Acidre of Tingog, ECCD Council members, and other government officials and partners.

HERE is how I read the University Athletic Association of the Philippines’ (UAAP) decision not to suspend Ateneo from the upcoming season in the wake of the Dipaculao tragedy that claimed the lives of two of their players.

Having read that rule book as well, there is nothing in there that should penalize Ateneo. In my opinion, the board did not find any violations to the rules and statutes. Hence, the decision to allow the Ateneo men’s basketball team to compete. Gross negligence, yes. There should be accountability, yes. The head coach, coaching staff, and the team manager were either banned or suspended.

And really, many schools and varsity teams are run either autonomously or semi-autonomously. It was a terrible and tragic accident that could have happened to anyone.

The whole affair has given every sports program in this country an opportunity to closely integrate their efforts with the school, clean up some of their messes, and be more mindful of adhering to safety above all.

Furthermore, it isn’t just that-it is also looking at protocols and responses should something untoward happen once more.

The UAAP, like the National Bureau of Investigation or even that suspicious Criminal Investigation and Detection Group investigation, have determined that the players were also victims. Hence, that decision.

Heavens, it isn’t that Ateneo is so powerful that it can buy the league’s decision. No, it is not because league’s Executive Director Rebo Saguisag graduated from Ateneo Law School and that Commissioner Jai Reyes is true blue.

If you must know, Atty. Saguisag roots for San Beda (where he went for his grade and high school education) and University of the Philippines (where he went for college). As for Jai-he is only in charge of the games and the officials and isn’t part of any voting process.

Now, having observed the board in the previous years, the adoption of the two-tier leadership has changed their decision making and approach to matters of the league.

You have the presidents of the universities who look at the league from a macro level and chart its direction, and the school representatives who are tasked with running the league.

These people have approached their discussions more methodically as they too are educators.

If you look at the decision making in previous years when it comes to rendering decisions even to erring constituents of the schools, it has changed. It isn’t the old punitive approach. If there is an individual or individuals who should be sanctioned, it is now contained to that person. It is opposed to the old way where the school’s sports programs suffered as a whole from the discretions of one.

I also gather that the people who represent the schools are no longer at each other’s throats. Gone are the days where there were boardroom shouting matches. Gone are the days when there are cliques.

I recall around 2011, I wrote a scathing article about some decision by the league. The next day, at the Big Dome, I came across three of the board members. The late Bam Paguia, then the National University representative who I had known for quite some time, took me aside and said, ‘The league is evolving.’

My reply was the league has been around for over 70 years. Why can’t the league get it right?

Mr. Paguia shrugged. ‘We’re working to make it better.’

This is not to exonerate the UAAP. Even for decisions in years past that I thought were erroneous.

I can understand that some schools and observers might feel aggrieved or even up in arms about what they feel is a poor decision too given others were previously suspended.

Again, I think that the UAAP has changed their approach in the last few years.

I think we saw some of the first signs of this during the Covid-19 lockdown when University of Santo Tomas’s then coach was likewise banned for violating the pandemic protocols. The team continued.

The tragedy of Dipaculao could have been prevented, yes. Unfortunately, history can only be learned forward. It is painful episode not only for Ateneo but also the families who lost their loved ones.

I am sure the league-as will every other one in the country-will look for ways to prevent such a tragedy from happening again.

Considered the most curated gathering of event suppliers in the country, ‘Let’s Celebrate Expo 2026’ spotlighted the industry stalwarts as well as its rising stars. Held on July 18 and 19 at Space at One Ayala, Makati City, visitors got to meet a meticulously selected mix of established names, emerging and iconic creatives, hotel and destination brands, and food and beverage preferences.

‘Anyone can organize an expo. Curating is about creating conversations between people, ideas, brands, and destinations. It’s about introducing tomorrow’s talents while celebrating the icons who built the industry,’ explained founder and lead curator Marbee Shing-Go. ‘Let’s Celebrate has never been about gathering the most suppliers. It’s about bringing together the right people. And that philosophy continues to define every edition of Let’s Celebrate.’

An innovative concept first introduced by curator Shing-Go, the ‘fair within a fair,’ returned this year. It was led by planners Bingo Flores of Sweet Comfort Events and Cat Ebuen of Events Embassy.

‘Its collaborative showcases with stylists Mc Pascual and Jacq Pascual demonstrated the strength of creative teams, bringing together planners, stylists, photographers, filmmakers, florists, and designers to present celebrations the way they’re truly created-in collaboration,’ said Shing-Go.

THE GMT TRIO AND EMERGING TALENTS

THE highlight of the affair was an immersive installation by globally recognized event stylists Gideon Hermosa, Michael Ruiz and Teddy Manuel, who have become a formidable force collectively known as GMT.

The trio’s exclusively designed installation was inspired by nature, sustainability, and Filipino craftsmanship, as it offered a glimpse into where celebration design is headed next-without giving away the surprise before visitors see it for themselves.

This year’s featured celebration designers presented their individual philosophy, each proving that every celebration could and will reflect a completely unique personality. Celebration design, after all, is never one-size-fits-all. They are May Mañalac of Eye Candy Manila, Anna Winstel of Events Central, Bhem Meijer of Il Fiore Flower Boutique, Miguel Bautista of Miel’s Event Styling, and Alden Raza of Arraza Events.

THE STORYTELLERS

THE event also gathered the ‘Storytellers Behind the Celebrations,’ the most respected names in Philippine wedding photography and filmmaking whose documentary, editorial or cinematic styles bring unique perspectives to preserving life’s most significant moments:

Jason Magbanua, who pioneered and helped redefine the Same Day Edit (SDE); Mayad Studios, renowned for its timeless wedding films; Metrophoto, acclaimed for its editorial approach to photography;

Nice Print, a favorite and trusted visual storyteller among celebrities; ProudRad, known for its heartfelt, documentary-style approach; Mico Studios, beloved for its elegant and emotive imagery; Sherard Yu, whose cinematic eye is shaping contemporary wedding storytelling; and Studio Yanagi, an emerging player gaining steam for its stylish and thoughtful narratives.

FOOD AND BEVERAGE GALORE

It’s not a Filipino celebration without sumptuous food and unlimited drinks. At Let’s Celebrate, the options are mouth-watering: Cocktail brands Manila Craft and Blackbox Cocktails; The Tastemakers, pioneers of refined zero-proof cocktails: and Diwang, crafted beverages with contemporary Filipino flavors.

The bespoke Carmelo’s Steakhouse Catering made its debut at the expo. It brings the culinary heritage of one of the country’s most respected dining institutions, Carmelo’s Steakhouse, which is widely credited with introducing Filipinos to premium Angus beef to weddings and milestone celebrations.

Two new names with fresh concepts were also at the expo: The Sundaygrams Café and Cakes, with its enticing pastries and café offerings for intimate occasions; and Molte Grazie, showcasing its appetizing aperitif and grazing experiences.

HOSPITALITY AS DEFINED BY FILIPINOS

FAMED for its ‘Marry Me at Marriott’ fashion spectacles, Marriott International Philippines presented all 13 of its Philippine properties, including The Westin Manila, AC Hotel by Marriott Manila, The Farm at San Benito, Courtyard by Marriott Iloilo, Fairfield by Marriott Cebu Mactan, Four Points by Sheraton Palawan Puerto Princesa, Four Points by Sheraton Boracay, Manila Marriott Hotel at Newport World Resorts, and Sheraton Manila Hotel at Newport World Resorts.

A featured international destination partner was the Spain Tourism Board. Buoyed by its recent triumph at the World Cup, Spain might inspire couples to choose Spain as a wedding destination, as we share similar culture, cuisine, and traditions.

For the adventurous and nature-tripper, planner Jomai Arnaiz, together with designers Miguel Bautista and Tiffany de Castro, showcased the charm of mountain celebrations through Itogon Mountain Village, Montesierra, and Danum, Baguio’s artisanal liquor.

There’s also the picturesque Hillcreek Gardens in Tagaytay, an integrated destination wedding venue where couples can celebrate from ceremony to after-party and even the next day’s brunch.

THE JOY OF DISCOVERY

Let’s Celebrate introduced new talents such as Always in Motion Live, LX Events Pro, 4th Wall, Forscink Lights and Sounds, and Manila Craft. They offered a new concept for the modern after-party.

‘Let’s Celebrate’s defining ideas have always been about discovery. Alongside industry veterans was a carefully curated group of emerging photographers, filmmakers, designers, stylists, content creators, and creative entrepreneurs-young talents whose work represent the future of celebrations,’ shared Shing-Go.

THE Land Bank of the Philippines (LandBank) has pushed to 2027 its bond issuance to bag over P10 billion, the state-run lender’s top executive said.

On the sidelines of the ‘2026 Outstanding BSP Stakeholders Appreciation Ceremony,’ LandBank President and CEO Lynette V. Ortiz told reporters that the state-run bank will shelve its plan to issue bonds, opting instead to return to the debt market next year.

‘I think what we’re planning to do is, I mean, the rates are quite high. So we’re planning to likely do that next year,’ Ortiz said. ‘I mean the last issuance we raised P50 billion, right? But it all depends. So for it to be worth it, I would say probably over P10 billion.’

Last February 2026, the state-run bank raised P50 billion through its ‘Agriculture, Sustainability, Environment and Socioeconomic Development,’ or ‘Asenso,’ bonds, officially listed on the Philippine Dealing and Exchange Corp. (PDEx).

Proceeds from the sale of its debt papers will bankroll green and social projects nationwide, such as renewable energy, food security, housing, employment and socioeconomic empowerment.

With the success of the Asenso bonds, the state-run lender initially planned a follow-up issuance.

However, Ortiz said they have become ‘cautious.’

‘I think there are still a lot of headwinds; as you saw our GDP [gross domestic product] growth,’ she added.

‘So we’re doing what we can within the factors and macroeconomic environment that we’re dealing with. I’d say that I think it’s really all about efficient balance sheet management; also managing our risk very cautiously, very well,’ Ortiz told reporters.

A month ago, Ortiz said while the bank is keen to go back to the market, she said ‘it will all have to be timed with general macro-environment, investor sentiment.’

‘We will go back. It’s just timing,’ she said in July.

Nestled within the cool, pine-scented breeze and rolling hills of Tagaytay, Leisure Suites North (LSN) stands as the latest architectural benchmark for Don Tim Development Corporation (DTDC), engineered to redefine low-density residential living in Tagaytay.

Following the success of Leisure Suites South, DTDC has officially launched Leisure Suites North, breaking new ground today (Aug. 8) as the newest residential cluster within Alta Monte Tagaytay. Designed around the growing demand for low-density, nature-inspired living, the development combines exclusivity, spacious unit layouts, and long-term investment value in one of Southern Luzon’s most sought-after residential destinations.

Conceived as a direct response to the modern homebuyer’s search for sanctuary, space, and understated luxury, this new enclave within DTDC’s flagship legacy project, Alta Monte, merges the tranquility of suburban mountain living with the tangible financial benefits of a prime vacation-style investment while enjoying the quiet comfort and structural reliability of a master-planned community.

By offering expansive footprints and low-rise density, LSN makes everyday living feel extra private and indulgent for families, investors, as well as homebuyers who are looking for a long-term place to stay in Southern Luzon.

In a press statement, Audric Leong, President and CEO of DTDC, said, ‘This premium low-rise cluster carries an estimated gross development value of ?410 million. Building on the established foundation of its predecessor, the project offers enhanced layouts, greater privacy, and a more refined living experience set within the prestigious Alta Monte community.’

‘Leisure Suites North represents the next evolution of the Alta Monte vision. We designed this community for homeowners seeking more space, privacy, and a stronger connection to nature while enjoying the long-term value that Tagaytay continues to offer,’ stressed Leong.

What sets Leisure Suites North apart is its fewer residential units per building, giving each one more breathing room. There are only six units per building to reduce congestion and increase comfort, openness, and air circulation. Each unit features contemporary space planning to allow for more natural lighting and to accommodate flexible hybrid work lifestyles.

Open-plan living spaces flow effortlessly into private balconies, allowing guests and owners alike to soak in Tagaytay’s renowned cool climate without stepping outside their front door.

Situated in an established gated community, residents enjoy immediate proximity to the city’s key dining and commercial destinations, as well as seamless connectivity via major South Luzon infrastructure corridors.

As Tagaytay continues to emerge as one of the country’s most attractive residential hubs, LSN addresses the scarce supply of premium horizontal and low-density developments while reinforcing DTDC’s commitment to building enduring communities that prioritize space, wellness, and long-term value.

‘Our goal has always been simple: to be the gold standard of trusted investments in Southern Luzon. Leisure Suites North is a testament to the quality and value that discerning buyers will get when they invest with Don Tim Development Corporation, an investment that makes a difference in how good life can be in the South,’ said Leong.

‘When you invest in the South, you are securing value. You are not only buying bricks and mortar, but you are also buying into a legacy. At the Don Tim Development Corporation, we strive to make lasting and low-density investments that yield high value in the ever-growing region, and time and time again we prove why we are one of the most reliable places to generate profitable and dependable investment in the area,’ concluded Leong.

PAX Silica will start small-at least by its 1,620-hectare footprint-with the first 500 hectares expected to accommodate around 10 to 20 companies beginning in 2028, according to the Bases Conversion and Development Authority (BCDA).

BCDA President and Chief Executive Officer Joshua Bingcang said the first phase could take three to five years to develop, with the remaining 1,120 hectares to be built out in succeeding stages.

‘The first phase, we see around 500 hectares out of the 1,620,’ Bingcang told reporters during a briefing in New Clark City on Friday.

The project will be developed in three phases, with semiconductor-related industries expected to account for a significant share of activity, given the development’s focus on advanced manufacturing and artificial intelligence (AI).

Bingcang said the initial phase is expected to require about $10 billion in investment, primarily for site development. The broader investment estimate of $40 billion to $70 billion, meanwhile, includes facilities and other infrastructure that locators would build within the development.

The BCDA projects that the fully developed 1,620-hectare site could generate as much as $200 billion in exports over the long term.

Yet, the agency chief clarified that the export and investment projections apply to the full buildout and not to the initial 500-hectare phase.

It also projects that the development could generate between 130,000 and 190,000 direct jobs, with another 500,000 to 800,000 indirect and induced jobs across supporting industries and supply chains.

BCDA uses a 30-year horizon in preparing financial models for large-scale developments, meaning the projections cover a significantly longer period than the initial construction phase, Bingcang explained.

He added the estimates were based partly on the agency’s experience in developing large infrastructure projects, including Bonifacio Global City and the Subic-Clark-Tarlac Expressway.

‘So we now have the figures for the cost per hectare and per square meter,’ Bingcang said.

The projected investments are expected to come largely from foreign companies that would finance and operate their own facilities, he reiterated.

Also, supporting utilities for the development are still being worked on, with facilities and contracts yet to be finalized. Bingcang said companies typically spend about two years planning their projects before construction and operations begin.

Controversies

THE project has faced questions over its impact on land use, water resources and indigenous communities as development in New Clark City expands.

BCDA has maintained that the land for the development is government-owned. It also said individuals interviewed in previous reports about alleged displacement were not part of the Pax Silica site.

About water use, the BCDA has estimated that Pax Silica could eventually require between 65 million and 90 million liters of water a day.

In its presentation, the agency said the planned water system would rely on surface-water harvesting, storage, treatment and recycling, with the initial system designed for a capacity of up to 135 million liters per day.

On the other hand, during the unveiling of a marker for the planned AI hub in New Clark City in May, Bingcang said the government has also rejected proposals that would have placed portions of it outside Philippine jurisdiction.

In a televised interview in July, he said Philippine and United States officials were targeting completion of the framework within two to three months, with a possible signing before the end of the year.

The DENR-Ecosystems Research and Development Bureau (DENR-ERDB) is strengthening the decades-old Rattan Gene Bank in Bukidnon Province to help secure a sustainable supply of quality planting materials for the country’s rattan industry.

The move comes amid an 18.1 percent jump in the Value of Production Index for wood, bamboo, cane and rattan articles in April, a surge that has intensified pressure on raw material sources across the archipelago.

Livelihood opportunities, ecosystem protection

The plan boosts livelihood opportunities tied to ecosystem protection, a push that has placed greater attention on nature-based industries across the archipelago.

Operated by DENR-ERDB’s Forest and Wetland Research, Development and Extension Center (FWRDEC), the enhanced gene bank will produce quality planting materials that can be used in establishing sustainable rattan plantations, helping strengthen the supply base for furniture makers and handicraft producers while reducing pressure on wild rattan populations.

Leading the initiative is Forester Joel B. Orella, project leader of the DENR-ERDB’s Nursery and Plantation Establishment and Management of Rattan through Science and Technology-Based Approaches Project.

‘We are creating opportunities for communities while ensuring that future generations will continue to protect and benefit from our native rattan resources,’ Orella said.

‘This is exactly the kind of work that shows how environmental protection can translate into real economic opportunity,’ Secretary Cuna said. ‘By investing in science-based restoration and sustainable supply chains, we’re ensuring livelihoods endure for decades.’

Permanent nursery, rattan plantation

Orella and his research team are establishing a permanent nursery and a 10-hectare rattan plantation within the experimental forest.

The project also includes training people’s organizations, local government units, DENR field offices, Indigenous Peoples communities, and private stakeholders in seed collection, nursery management, and plantation establishment.

Among the project’s primary beneficiaries is the Woodstock Forest Stewards Association in Bukidnon. Members will learn to propagate rattan wildlings and seedlings that can be supplied to plantation developers, government greening programs, and private buyers, providing them with an additional source of livelihood while supporting the expansion of sustainable rattan plantations.

Investment in PHL forest

Department of Environment and Natural Resources (DENR) Secretary Juan Miguel ‘Mitch’ Cuna said strengthening the Rattan Gene Bank is an investment in the country’s forests, communities, and the future of an industry that has long been part of the country’s identity. ‘President Marcos Jr. has been clear that caring for our ecosystems must also create opportunities for our people. Every forest we protect and every coastline we restore, strengthens communities and builds a more resilient future for the country,’ he stated.

Established in 1992, the five-hectare rattan gene bank is located inside the Malaybalay Experimental Forest. The facility conserves 30 native rattan species and serves as the country’s living repository of rattan genetic resources. The Philippines is home to about 64 to 80 rattan species and varieties, and ERDB has maintained a living collection representing most of this diversity through decades of conservation work.

DENR-ERDB Director Lormelyn E. Claudio said research creates lasting value when it responds to the needs of communities and industries alike.

‘The true value of research is realized when it improves lives. Partnerships with communities allow us to ensure that our research addresses actual needs on the ground while empowering them to become active stewards of our natural resources,’ Claudio said.