Yellow alert over Vis-Min grids to persist till next week-DOE

THE Department of Energy (DOE) said Monday that the yellow alert hoisted over the Visayas and Mindanao power grid will persist next week, with possible red alerts during the evening.

‘So, for next week, what we are seeing is that we will remain to have yellow alerts in the afternoon for both Visayas and Mindanao, but we might have as well red alerts during the evening time. So, it just depends on how long they are extended.

‘Normally, a red alert takes effect at 5p.m., but it may start earlier depending on power demand,’ said DOE undersecretary Mario Marasigan.

A red alert status is issued when power supply is insufficient to meet consumer demand and the transmission grid’s regulating requirement.

A yellow alert is issued when the operating margin is insufficient to meet the transmission grid’s contingency requirement.

As of press time, the National Grid Corporation of the Philippines (NGCP) placed the Visayas grid on red alert from 5pm. to 8pm. and yellow alert from 4pm to 5pm. and from 8pm to 9pm.

The grid’s available capacity stood at 2,334 megawatts (MW) while peak demand was at 2,413MW.

Six power plants are on forced outage this month, one plant since July, three plants since June, seven plants since May, one plant since March, three plants since 2025, two plants since 2024, two plants since 2023, and one plant since 2021, while 14 plants are running on derated capacities, for a total of 810.3MW unavailable to the grid.

‘The Visayas grid was placed under yellow and red alerts because of major generation outages and limited power transfers from neighboring grids. Several major coal-fired generating units remain unavailable.

Today, capacity support for Visayas from the Luzon and Mindanao grids i also limited-as Mindanao’s demand is high,’ said Garin. ‘Our teams are working with system operators and generators to restore available capacity, manage the tight supply situation, and keep electricity flowing across the Visayas,’ added Garin.

Govt debt-to-GDP ratio jumped 56.8% in 2025

THE country’s general government’s (GG) debt as a share of gross domestic product (GDP) rose to 56.8 percent by the end of 2025, Finance Secretary Frederick D. Go told lawmakers last Monday.

That GG debt-to-GDP ratio level is higher than the 53.9 percent recorded by the end of 2024, when GG debt hit P14.248 trillion, Department of Finance (DOF) data showed.

The GG debt includes national government (NG) with bond sinking fund (BSF), social security Institutions and local government units (LGUs) less intrasector debt holdings.

Nonetheless, Go told congressmen during the Development Budget Coordination Committee’s briefing that the country’s debt levels ‘remain sustainable’ and is ‘within a manageable range compared to other emerging economies.’ He didn’t cite which emerging economy he is referring to.

The ratio is below the 70 percent threshold set by the International Monetary Fund-World Bank (IMF-WB) for Debt Sustainability for emerging market and middle-income economies, according to Go.

The ratio is projected to increase to 60.2 percent this year and decline gradually to 59.9 percent in 2027 and 59.2 percent in 2028, based on the IMF’s latest ‘Fiscal Monitor’ report.

Meanwhile, the NG debt-to-GDP ratio settled at 63.2 percent in end-2025.

Despite this, the level rose to a 22-year-high of 66 percent in the second quarter this year, the highest since 2004, according to the latest Treasury data.

Go said finance officials ‘have maintained a prudent debt mix, predominantly domestic debt, predominantly carrying fixed interest rates, and predominantly structured with long repayment terms.’

Broken down, 68.4 percent of the NG’s debt is sourced from domestic lenders while 31.6 percent has been sourced externally, including commercial bonds and official development assistance.

The mix, according to Go, ‘reduces our exposure to foreign exchange risks, while also supporting the continued development of our local capital market.’

About 90 percent of the government’s debt also carries fixed interest rates, providing certainty in debt servicing costs and shielding it from sudden increases or fluctuations in global interest rates, Go added.

Most, or 84.1 percent, of the government’s debt also has long-term repayment periods.

‘This longer maturity profile reduces our refinancing risks and gives us greater predictability in managing our debt obligations,’ Go told lawmakers.

For 2027, the government will allocate P1.143 trillion for debt servicing, covering interest payments on outstanding obligations and net lending to government corporations, among others. This is higher by 17.3 percent from this year’s P974 billion allotment.

‘A higher interest bill does not by itself mean that our debt has become unmanageable. Our debt remains manageable,’ Budget Secretary Kim Robert C. De Leon echoed Go during the same briefing.

‘We are pursuing a strategic and gradual fiscal consolidation path that allows us to honor our obligations, maintain fiscal credibility, and continue investing in our people and our economy,’ De Leon added.

Digital payments volume exceeded 2025 target

THE volume of digital payments already reached 64.7 percent of retail transactions in 2025, surpassing the targets set under the government’s economic blueprint, according to the Bangko Sentral ng Pilipinas (BSP).

At the Development Budget Coordination Committee (DBCC) briefing before the House Committee on Appropriations last Monday, BSP Deputy Governor for Monetary and Economics Sector Zeno Ronald R. Abenoja said the central bank has observed that more Filipinos continue to participate in the formal financial system.

According to Abenoja, central bank data shows increasing use of payments through InstaPay, PESONet, and person-to-merchant QRPh. He said the increased use highlights the ‘continued momentum’ on the adoption of electronic payments channels in the country.

Equally important, Abenoja said, is that the growing adoption of digital payments generates what the BSP called ‘network externalities.’ He explained the latter means that the value and convenience of domestic electronic payment channels increase as more consumers, more merchants, and more financial institutions participate in the financial ecosystem.

The chart presented by Abenoja during the briefing showed that the share of digital payments to total retail payments by volume grew from 20.1 percent in 2020 to 30.3 percent in 2021, 42.1 percent in 2022, 52.8 percent in 2023, 57.4 percent in 2024 and 64.7 percent in 2025.

Under the Philippine Development Plan (PDP) 2023-2028, the government set the following targets for the share of volume of digital payments to total retail transactions: 50 percent for 2023; 52 to 54 percent for 2024; 54 to 58 percent for 2025; 56 to 62 percent for 2026; 58 to 66 percent for 2027; and 60 to 70 percent for 2028.

A separate statement issued by the central bank Monday afternoon quoted BSP Governor Eli M. Remolona Jr. as saying that ‘a lot of the growth is due to our insistence on interoperability, ensuring that a growing number of businesses and service providers are on one system.’

‘That brings in more users, which makes the network more valuable for everyone in it, including consumers, businesses, banks, e-wallets, and other platforms,’ Remolona added.

Data from the BSP’s ‘2025 Report on the Status of Digital Payment in the Philippines’ showed that the continued growth of digital payments in the country was supported by a 69.4-percent increase in digital payment accounts and a 36.3-percent rise in merchant locations or business outlets that accept digital payments.

Likewise, the central bank said that QR Ph transactions exceeded debit and credit card transactions for the first time in 2025, ‘reflecting a growing preference for interoperable, account-based payments.’

A total of 2.47 billion QR Ph transactions worth P1.16 trillion were processed during the year, the BSP statement read.

The BSP added that PESONet transactions have surpassed check payments, reflecting the ‘growing use’ of electronic fund transfers for business and personal transactions.

‘The BSP expects the momentum for digital payments to continue, aided by policies meant to make electronic payments more accessible and affordable,’ read the central bank’s statement.

One of these policies is embodied in BSP Circular 1238. The latter pushes for reasonable transfer fees, requiring that fees charged for transferring funds from one bank or e-wallet provider to a different financial institution ‘should not be materially different’ from the fees charged for transfers within the same institution.

Remolona said the BSP continues to work closely with industry and government partners to expand digital payments ‘to benefit more Filipinos and the economy as a whole.

6 reasons to switch to an MGS Smart Lock in PHL today

Traditional locks have served Filipino homes for generations, but in today’s fast-moving world, they’re simply not enough.

Burglaries, lost keys, unauthorized copies, and no way to monitor who enters your home are all limitations of the old-fashioned key lock. More and more Filipinos are waking up to the fact that it’s time to upgrade, and MGS is making that transition easier, smarter, and more reliable than ever.

Here are 7 compelling reasons to make the switch today.

1. You’ll Never Get Locked Out Again

With multiple unlocking methods- fingerprint, PIN code, face recognition, RFID card, remote app unlock, and a mechanical key backup-an MGS smart lock gives you so many ways to access your home that being locked out becomes virtually impossible. No more calling a locksmith at midnight because you lost your keys.

2. Know Exactly Who Enters Your Home

Traditional locks can’t tell you who used them or when. MGS smart locks keep a detailed access log on the MGS SMART App; every entry is recorded with a timestamp. Whether it’s your household helper, your kids coming home from school, or a delivery person, you’ll always know what’s happening at your door.

3. Grant and Revoke Access Remotely

Away on a business trip? Need to let a repairman in? With MGS’s remote unlock and user management, you can open your door from anywhere in the world using your mobile phone. You can also add new users or remove old ones in seconds; no need to change locks when a helper leaves your employ.

4. Eliminate the Risk of Duplicate Keys

Traditional keys can be copied at any hardware store without your knowledge. Smart locks eliminate this risk. Access is managed digitally; fingerprints, PINs, and cards can be added or removed only by authorized administrators. Your security stays in your hands.

5. Perfect for Multiple Users and Properties

Managing a family home, a rental property, or a business? MGS smart locks are designed for multi-user environments. You can set different access levels for different people, schedule access windows (e.g., people can only enter between 8am-6pm), and manage multiple properties from one app.

6. Backed by Lifetime Technical Support and a Two-Year Warranty

Most traditional locks come with zero after-sales support. MGS gives you lifetime technical support and an up to two-year product warranty, so you’re never alone if something goes wrong. Their professional installation team, nationwide delivery network, and responsive customer service set a standard that the traditional lock market simply cannot match.

Explore and make a switch to MGS Smart Locks today by visiting mgshome.ai or MGS Philippines on Facebook, Instagram, and TikTok for more smart lock tips and recommendations.

DILG backs Arta’s anti-fixer drive

THE Department of the Interior and Local Government (DILG) has ordered all its offices nationwide to put up prominent displays of ‘Bawal ang Red Tape’ materials where business transactions are being facilitated.

The directive is in support of the Anti-Red Tape Authority’s (Arta) intensified campaign against fixers and fixing activities.

Through a memorandum, the DILG directed the display of the anti-red tape signage in strategic and conspicuous areas of its central and regional offices, as well as on the Department’s website and official social media channels, as part of a broader information campaign against fixing and illegal government transactions.

‘Red tape has no place in the DILG. We, therefore, want these signages seen by everyone as part of our commitment to efficient public services,’ the DILG said.

Following Arta’s latest directives on the Campaign Against Fixers and Client Satisfaction Measurement, DILG offices were also urged to intensify public awareness of existing anti-red tape policies, particularly measures against fixers, while strengthening transparency in government transactions.

The Department likewise ordered the display of updated anti-fixing information, education, and communication (IEC) materials and the official harmonized Client Satisfaction Measurement (CSM) survey in conspicuous areas to encourage the public to provide direct feedback on government services.

‘As the government heightens awareness of safeguards against corruption, we also encourage the public to report incidents of illegal transactions to combat fixing through Arta’s channels,’ the DILG said.

The intensified campaign comes as the DILG recorded a 99.50-percent client satisfaction score in its 2025 CSM Report, reflecting positive public reception of the Department’s implementation of streamlined services for both internal and external clients.

The DILG said strict compliance with the guidelines forms part of Arta’s Report Card Survey (RCS) 2.0, which measures government agencies’ implementation of Republic Act No. 11032, or the Ease of Doing Business Law, and their compliance with service procedures under their respective Citizen’s Charters.

‘All of these will be tracked by the Compliance Monitoring and Evaluation Office [CMEO] through surprise inspections and spot monitoring to ensure sustained compliance with the law and the related guidelines,’ the DILG said.

The Department said the campaign aims to make legitimate government transactions easier and more transparent while closing opportunities for fixers and other illegal practices.

‘With these mechanisms in place, we remain committed to safeguarding public trust in government through upholding swift, hassle-free, and customer-friendly service delivery for the Filipino people,’ the Department added.

’Weak growth pace may prompt rate hike pause’

WITH the economy’s gears moving far from full capacity and inflation expectations remaining anchored, Standard Chartered Bank expects monetary authorities to keep policy rate unchanged for the rest of the year, but noted that the central bank may be leaning towards a hawkish hold, rather than completely relaxing given upside risks to inflation.

‘In terms of the [Bangko Sentral ng Pilipinas] BSP itself, at the moment, my call, which I think is probably non-consensus, is I don’t expect the BSP to hike in August or for the rest of the year, for this year,’ Standard Chartered Bank Plc Senior Economist Jonathan Koh said during a virtual briefing last Friday.

While Koh expects the key interest rate to be kept unchanged at 4.75 percent, he recognizes ‘that it’s going to be a very close call.’

‘I think the BSP is still going to remain hawkish,’ added Koh, also the lender’s foreign exchange analyst for Asean.

Because growth is ‘really slow’ and demand inflation is soft, Koh said the central bank could look past supply-side driven inflation as long as inflation expectations remain anchored.

‘So from that perspective, because the output gap is negative, I do expect the BSP to remain on hold,’ added Koh.

Output gap

AS earlier explained by the central bank, output gap-measured as the difference between the actual and potential output-is a summary indicator of the relative demand and supply. That gap is being monitored by the BSP to assess the degree of demand-based inflation pressure.

The central bank explained that if the output gap is positive over time, prices will begin to rise in response to demand pressures. Similarly, if actual output falls below potential output over time, reflecting ‘economic slack,’ prices will begin to fall to reflect weak demand relative to supply.

In his explanation during a forum last Friday, BSP Governor Eli M. Remolona Jr. cited the 3.2 percent gross domestic product growth in the second quarter, which is way below the 2.3 percent outturn.

‘What’s also true is we’re below potential. Our potential [growth] may be 5 percent to 6 percent; close to 5.8 percent. Because we’ve been doing 5.8 percent in recent years, …we have what’s called an output gap: the difference between our potential and our actual growth. That matters for monetary policy.’

Remolona thus noted that with a negative output gap, this means that monetary authorities have ‘become less aggressive in terms of raising the policy rate in order to tame inflation.’

‘So we take account of both the weakness of our growth as well as our expectations of inflation,’ the BSP chief added.

According to Koh, the weak second-quarter GDP outturn points to increasing downside risks to domestic demand and raises the potential growth cost of further tightening.

Meanwhile, July inflation provided ‘nascent’ signs that price pressures may be moderating, with headline inflation easing to 6.2 percent year-on-year from 6.4 percent and core inflation moderating to 4.2 percent from 4.4 percent.

Toss-up

KOH opined, however, that one month of softer inflation ‘does not yet establish a sustained disinflationary trend, particularly as both measures remain above BSP’s target range.’ ‘We therefore expect a close decision between a hike and a pause,’ he added.

Koh said the August decision may depend on global oil prices and the performance of the Philippine peso in the upcoming weeks, ‘as renewed pressure on either could worsen the inflation outlook and increase the risk of second-round effects.’

At the June meeting of the Monetary Board (MB), he said the BSP governor noted that de-anchoring of inflation expectations was not a ‘significant’ concern at that time.

As such, Koh said the recent slight moderation in inflation may provide the BSP some room to assess the effects of its April and June rate increases.

‘However, persistent above-target inflation and upside risks to inflation from El Niño and minimum wage increases (suspended until 13 August) mean its communication is likely to remain hawkish,’ he added.

Unpredictable opponent

DURING the same forum last Friday, Remolona said the central bank is looking at inflation expectations and how other items in the consumer price index respond to the continuing global shocks.

He said these will affect the central bank’s policy strategy.

But with the growth and inflation numbers, Remolona said he thinks monetary officials ‘need a more convincing downward trend for inflation before we can relax.’

‘Of course the weaker growth that we’re seeing means we can be less aggressive in trying to tame inflation. But in the face of an unpredictable opponent, oil prices for example, we need to keep our eye on the ball,’ the central bank governor added.

The BSP has raised the key interest rate by a total of 50 basis points since the start of the conflict in the Middle East on February 28, delivering two separate quarter-point rate hikes at the MB’s rate-setting meetings held on April 23 and June 18.

These policy actions brought the target reverse repurchase rate to 4.75 percent.

Ralph Lauren at Wimbledon

Ralph Lauren welcomed guests to The Ralph Lauren Centre Court Suite at The Championships, Wimbledon, in July.

Guests were invited to experience the newly debuted The Polo Bar by Ralph Lauren at Centre Court, bringing the sophisticated warmth of the New York institution to the tournament’s historic grounds for the first time. Guests enjoyed classic cocktails and thoughtfully curated details throughout while watching the Gentlemen’s Singles Semi-finals.

Notable guests include, Dustin Hoffman, Keira Knightley, Richard E. Grant, Kento Kaku, Lesley Manville, Felicity Jones, Luke Thompson, Joe Locke, Rashida Jones, Ezra Koenig, Ananya Panday, Mia Armstrong, Bassel Khaiat. All the guests were dressed in Ralph Lauren.

In the Philippines, Polo Ralph Lauren is exclusively distributed by Stores Specialists Inc., and is located at Shangri-La, Greenbelt 5, Rustans Makati, Solaire, and the newly opened Rustans Cebu Store.

Polo Ralph Lauren is also available online through www.lazada.ph, www.shopee.ph, www.zalora.ph, and www.rustans.com.

A look at the history and beliefs behind Japan’s controversial shrine to the war dead

Emperor Meiji first visited the site that would become one of Japan’s most controversial shrines in 1874. He vowed that the names of those who died for their country would live there forever.

More than 2.4 million people are now honored at Yasukuni, a memorial and Shinto shrine in central Tokyo. Among them are 14 war criminals who are also commemorated each Aug. 15, when Japan’s surrender ended World War II.

The shrine provides spiritual comfort for some who mourn relatives and others who visit to express gratitude. Yet for Asian countries that endured Japanese imperial rule and expansion, Yasukuni remains a symbol of Japan’s militarism.

Visits by Japanese leaders frequently draw criticism from China and South Korea, which see them as a sign of insufficient remorse for Japan’s wartime aggression.

Here’s a look at the history and religious background of a shrine that is both a sacred place of remembrance and a source of controversy.

Yasukuni’s foundation followed a historic transformation

Imperial rule was restored in Japan in the 19th century after the fall of a military government that ruled for more than 250 years. A year into the new imperial era, in 1869, Emperor Meiji ordered the construction of the shrine that would later be renamed Yasukuni.

The name derives from two Japanese characters that can be translated as ‘peaceful country,’ and its purpose was to honor those who fell defending the imperial cause.

‘Yasukuni Shrine was initially conceived as a way to send a message to the Japanese people,’ said Akiko Takenaka, a professor of history at the University of Kentucky. ‘The message was about the emperor; the message was about a new Japan.’

In that Japan, Takenaka added, Meiji became the one who could bestow the highest honor on those who died fighting for the empire and men were expected to consider it an honor to sacrifice their lives for him.

Religion and government became intertwined

Japan’s emperors have long been regarded as descendants of the sun goddess Amaterasu under Shinto beliefs. However, the notion of the emperor’s divine origins strengthened during the Meiji era, when the concept of State Shinto arose.

On one hand, that meant the government exercised control over the shrine’s practices and finances. Beyond that, the line between patriotism and religion blurred.

‘The Meiji reformers believed that they were establishing an ideal nation in which the people and the sacred emperor maintained a spiritual union,’ wrote Susumu Shimazono, a scholar specializing in religion and modern Japan, in the Japanese Journal of Religious Studies.

The separation of religion and state came after Japan’s surrender in WWII.

In December 1945, U.S. Gen. Douglas MacArthur issued an order that abolished State Shinto. The measure effectively cut off government funding for shrines and removed Shinto practices and teachings from public institutions.

Yasukuni subsequently became a private religious corporation. Official visits have raised questions about the constitutional separation of religion and government.

Enshrinement at Yasukuni has long stirred controversy

Yasukuni is not a cemetery. Rather than bodies or graves, those remembered there are enshrined as ‘kami’-divinities or sacred spirits in the Shinto tradition.

They include soldiers, women who provided battlefield relief, students mobilized to support wartime production, and foreign nationals who died while serving Japan.

Yasukuni’s most controversial kami are 14 Class-A war criminals, a designation applied to Japanese leaders accused of ‘crimes against peace’ by planning and waging the war. Among them is wartime Prime Minister Hideki Tojo, one of the masterminds behind the attack on Pearl Harbor.

Their enshrinement was carried out in secret by Yasukuni’s head priest in 1978, three years after Hirohito last prayed at the shrine.

‘Emperor Hirohito did not go again after he found out,’ said Mark R. Mullins, professor of Japanese and religious studies at the University of Auckland. ‘He didn’t want to get caught up in criticism surrounding that.’

Hirohito’s successors have sent emissaries to Yasukuni for its key annual rites, but neither has visited the shrine in person as emperor.

Other controversial enshrinements include Buddhists, Christians, Koreans and Taiwanese whose families say they were included without their consent, Mullins said.

Some have taken legal action, but Japanese courts have rejected efforts to have relatives removed from the shrine.

Yasukuni means different things to different people

‘For some of those in the bereaved families’ association, the focus may be on the personal grief,’ Mullins said. ‘But for those who are keen to restore what they feel was lost by the loss of the war and the foreign occupation, it means something more.’

Adjacent to the shrine is the Yushukan Museum, which displays wartime artifacts. Scholars have underscored how its account of Japan’s military history leaves out the experiences of China and Korea under Japanese imperialism.

‘By eliminating the enemy, the Yushukan remembers a war that was only ever glorious,’ wrote John Breen, a professor at the International Research Center for Japanese Studies, in a paper called ‘Yasukuni Shrine: Ritual and Memory.’

Some visitors say paying respects at Yasukuni carries a spiritual meaning that should not be equated with endorsing war.

Kana Shindo, a member of Tokyo’s Minato City Assembly, said she regards the shrine as a place where she purifies her mind, gives thanks to the kami and reflects on herself.

‘I have absolutely no intention of glorifying war,’ said Shindo, who added that politicians also have freedom of religion and conscience. ‘I visit because I believe that the peaceful Japan in which we live today exists upon the lives and accumulated history of the people who lived before us.’

Bereaved families maintain ties to Yasukuni

Before leaving for war, Japanese soldiers were told that if they died, they would be enshrined at Yasukuni.

‘They told their families: ‘I want you to come see me at Yasukuni Shrine,” said Toshiei Mizuochi, president of the Japan War-Bereaved Families Association.

His father, who served in the Japanese navy, was killed in a bombing six days before the end of the war, on Aug. 9, 1945.

More than 2.4 million Japanese soldiers died overseas during WWII. The remains of approximately 1 million have yet to be recovered.

‘For that reason, the vast majority of bereaved families who received neither remains nor personal belongings believe that the spirits of the war dead are at Yasukuni Shrine,’ Mizuochi said.

Relatives like him visit Yasukuni beyond Aug. 15. They attend major ceremonies, commemorate death anniversaries and report family milestones-entering school, starting a job, getting married or having a child.

‘I visit Yasukuni Shrine more times than I can count in a year,’ Mizuochi said. ‘Every time I put my hands together in prayer, the face of my father in his portrait naturally comes to mind.’

White sugar rally adds to already-steep refining margins

White sugar futures in London rose for a third straight week, slightly outpacing raw sugar and keeping refining margins near their highest levels in two years.

A blistering rally, mirroring other crop markets at risk from El Niño, has both raw and white sugar up more than 10 percent so far this month. But prices for the processed sweetener rose more this week as raw supplies remain abundant in top producer and exporter Brazil, prolonging a trend this year of a widening premium for refined sugar over raw.

The most-active white sugar contract fell on Friday but still gained more than 1 percent this week.

The spread is a key gauge of refining profitability, with levels above $100 a ton typically providing a strong incentive to keep processing. White sugar’s premium settled near $150 a ton early last month before falling, but has started to rise again in recent trading sessions.

Both raw and white sugar markets have surged this month as potentially the strongest El Niño in decades threatens top producers. Supporting interest in refined sugar, the outlook is particularly stark in Europe-where multiple heat waves have parched crops, including the continent’s sugar beets that are processed directly into white sugar. Europe’s sugar output may fall to the lowest in more than a decade as a result.

‘There had been hope that perhaps the EU might see some relief before they begin harvesting beets, but instead, they get yet another heat wave,’ said Mike McDougall, an analyst at McDougall Global View.

Analysts are increasingly expecting tighter supplies in the 2026-27 season that starts in October. And the global shortfall may widen further in the 2027-28 season on lower cane and beet plantings, according to Czarnikow analyst Gerard Horner.

Open interest has also risen alongside prices, suggesting the moves aren’t driven solely by speculators covering bearish bets, but also by new buying, according to Paris-based brokerage Deepcore.

Hedge funds were more bullish on white sugar than any other period on record over the week ending August 11, according to data released after market close. The shift was driven in large part by speculators opening new long positions rather than closing existing shorts.

Still, challenges remain for the market, especially for raw sugar. Brazilian raw sugar remains plentiful, and subdued import demand has left supplies available in the near term. The recent price gains also mean that sugar commands a sizable premium over ethanol, which may incentivize mills to produce more of the sweetener.

In other softs, arabica futures fluctuated on Friday. A deadly earthquake this week in Colombia, the world’s second largest producer of the premium bean, has upended trading logistics at a time when stockpiles are already low. But the country has since partly resumed coffee exports through the Buenaventura port.

Alas Girls: Grassroots to global

SANTIAGO, Chile-On patches of grass beneath the trees, using bamboo poles and strands of steel wire, dreams took shape.

For Jello Andrea Mauricio and Taj Arkhea Teves, the volleyball journey began on courts far removed from the bright lights and regulation floors of the international stage. Frances Dianne Ramos had a somewhat better start, getting to play on concrete, but her path was no less difficult.

Now those dreams have carried them thousands of miles from Manila to the edge of the world, onto the bright lights of Parque Estadio National, competing against the best from across the globe in the FIVB Volleyball Girls U17 World championship.

And they have made history.

The Alas Pilipinas Girls are guaranteed a place in the top 16, securing the best finish by any Philippine volleyball team in any world meet.

From the municipality of Aurora in the province of Isabela, Mauricio has risen from makeshift courts to one of the biggest stages of youth volleyball.

One of the youngest in the national team at 14, Mauricio has provided a spark off the bench, bringing energy and keeping the right side as another scoring threat.

Her eyes welled as she recalled her tough beginnings, from her early days at Aurora Central School to her rise at San Felipe Neri Catholic School and now the world meet.

‘I’m really proud because I used to be just a girl from the province who dreamt of playing in the leagues I only watched on TV and social media. From provincial meets to the Palarong Pambansa, I have been so blessed po to meet people who supported me and helped improve my game. I got to bring my game to Manila and now I’m here in the world championship,’ Mauricio said.

At 13, Teves is the youngest of the 14-player Alas Pilipinas U17.

Initially a libero for this squad, Teves moved to the wing after just one match as coaches adjusted to the competition and converted outside hitter Nadeth Herbon into a floor defender.

Her role changed, but Teves’s easy smile remained.

Teves, from Barangay Pinayagan Sur in Tubigon, Bohol, has been tapped by the University of Santo Tomas and now provides stability on the back row for Alas Pilipinas.

‘I’m just proud to be here,’ the Region VII star said.

Ramos, also a Palarong Pambansa product, is now with the National University program, but stressed that she remains proud to carry the name of St. Michael College of Caraga wherever she goes.

‘We’re proud to have this opportunity and proud contribute whatever we can to the team, however small,’ the 15-year-old Ramos said.

‘I’m proud to represent the country, and being able to continue my journey as a national team player from the Asian U16 [in Amman, Jordan],’ she added.

Alas Pilipinas U17 assistant coach Wynne Bernardo under scored the need for stronger grassroots support.

‘There’s so much talent out there, where courts are just makeshift and ther’es very little support. When they organize games, their coaches practically beg for support because there’s no budget,’ Bernardo said.

‘So is we can increase support for grassroots volleyball, we can assemble stronger teams in the future. Look how far these kids have gone. With hard work, it’s possible. That’s why I’m so proud of this team.’

The Alas Pilipinas Girls also boast Sharina Lleses of King’s Montessori School, National University’s Xyz Ellen Rayco, Irish Mahinay, Jhaynna Love Bulandres and Princess Khaira Manzano, Ateneo’s Resty Olaguir and Jhenica Sadia, Megan Yesha Hernandez of UST, Nadeth Herbon of Leyte National High School, Christina Madela Gale of Bacolod Tay Tung and Caera Celis of St. John’s Institute in Bacolod.