Category: Business Mirror

AHOF’s The First Spark lit up SM Mall of Asia Arena on July 25 to 26 with more than just an electrifying concert. From fan activities across the SM Mall of Asia complex to unforgettable moments inside the arena, FOHAs enjoyed a complete concert experience that transformed every stage of their visit into a celebration.

A home for FOHAs

Arriving early was part of the experience. SM Mall of Asia transformed into the ultimate destination for FOHAs, giving fans spaces to celebrate their love for the group and connect with fellow supporters long before showtime.

Fans celebrate AHOF’s first anniversary at SM Mall of Asia.

From interactive message walls and fan-run booths at MOA Sky to lamppost banners across the mall grounds, every corner reflected the energy of the fandom. The entire complex became a vibrant gathering place where fans celebrated together before stepping inside the arena.

A connection like no other

Although AHOF debuted only a year ago, the group has already built a strong connection with its Filipino fans. FOHAs marked the group’s first anniversary with heartfelt fan projects, banners, and themed outfits that showcased their unwavering support since debut. Filipino member JL Gaspar made the night even more memorable as he spoke to thousands of fans in Filipino, creating an instant connection through shared language, culture, and experiences.

His heartfelt interactions resonated throughout the venue, highlighting the growing presence of Filipino talent in K-pop while making local fans feel seen, represented, and celebrated.

The future of live entertainment

Today’s concerts extend far beyond the performance itself. Fans now seek experiences that begin before the first song and continue long after the final encore.

SM Mall of Asia continues to redefine the concert journey by creating spaces where fandoms can gather, celebrate, and create lasting memories across the entire complex, from outdoor fan activities to world-class entertainment inside SM Mall of Asia Arena.

As the country’s most loved venue for local and international artists, SM Mall of Asia Arena continues to deliver more than world-class entertainment. Every concert is designed as a maxed out experience, where every fan enjoys unforgettable moments from the mall grounds to the final encore. By bringing together exceptional performances, seamless service, and immersive fan experiences, SM Mall of Asia Arena continues to set the stage for the biggest names in music and the memories that last long after the lights go down.

For 21 days, a Chinese marine research vessel remained inside Bajo de Masinloc, or Panatag Shoal-long enough to raise a question the Philippines cannot afford to ignore: what exactly was China studying there?

The Haiyang Dizhi Shi Hao, operated by China’s Guangzhou Marine Geological Survey, stayed inside the shoal from August 11 to September 1. The vessel is built for geological survey work and equipped to examine the seabed and shallow subsurface, with a stern-mounted A-frame for deploying and retrieving scientific equipment. Such surveys can produce detailed information about what lies beneath the sea-data that could potentially support future marine engineering.

A 21-day stay inside the shoal warrants scrutiny, regardless of its stated purpose.

What happened at Panganiban Reef (Mischief Reef) sharpens that concern. China built its first structures there in 1995, describing them as shelters for fishermen. Those structures eventually grew into a massive artificial island with an airfield and military facilities.

Civic leader Dr. Jose Antonio Goitia has pointed to exactly this kind of drift:

‘The temporary presence of today can become the accepted reality of tomorrow if it is allowed to continue unchecked.’

This is not the first unusual activity at Panatag this year. In May, a floating platform or raft was spotted inside the shoal, reportedly linked to Chinese research vessels. A drilling-capable survey ship spending nearly three weeks there now adds to the pattern.

Any single incident might have an explanation. A pattern is harder to wave away.

The real question at Panatag is not whether China is conducting research-it is what China is studying and what those findings could eventually support.

‘Sovereignty is rarely lost all at once,’ Goitia said. ‘It is gradually eroded when challenges to it are repeatedly allowed to pass unanswered.’

The Philippines has already watched a temporary structure become a permanent foothold. It should not need to see another artificial island rise at Panatag before taking these signs seriously.

The Philippines maintains sovereignty over Bajo de Masinloc and its maritime rights there. Activities capable of shifting that status quo deserve scrutiny now, while they are happening-not after the fact.

Goitia put it directly:

‘Our sovereignty cannot be traded, surrendered, or made a subject of negotiation.’

Panganiban was a warning the Philippines read too late. Panatag is the chance to read it in time.

Dr. Jose Antonio Goitia, Juris Doctor, PhD, is Chairman Emeritus of Alyansa ng Bantay sa Kapayapaan at Demokrasya (ABKD), People’s Alliance for Democracy and Reforms (PADER), Liga Independencia Pilipinas (LIPI), and the Filipinos Do Not Yield Movement (FDNY). He holds advanced degrees, including an MNSA, MPA, and MBA, among others.

The Department of Transportation (DOTr) on Thursday assured the House of Representatives that the long-delayed LRT-1 Cavite Extension Project will finally move forward, with construction expected to begin before the end of the year.

Acting Transportation Secretary Giovanni Z. Lopez gave the assurance during the DOTr budget hearing, telling legislators that the government is committed to starting construction of the remaining sections of the multi-billion-peso railway project within 2026.

Las Piñas Lone District Rep. Mark Anthony Santos welcomed the DOTr’s commitment, saying the development brings renewed hope to thousands of commuters in Las Piñas, Parañaque, Bacoor and other parts of Cavite who have long waited for the project’s completion.

‘We welcome Secretary Lopez’s commitment that construction will finally begin within the year. For the people of Las Piñas, this is more than a government project-it is a long-awaited promise of faster, safer and more reliable transportation,’ Santos said.

The DOTr chief said the signing of a memorandum of agreement (MOA) among the DOTr, Villar Group, Light Rail Transit Authority (LRTA) and Light Rail Manila Corporation (LRMC) is expected to proceed this September. Once completed, the agreement will help address the remaining right-of-way concerns affecting the project alignment.

The MOA signing was earlier expected in August but was postponed, further delaying the start of construction activities.

The assurance comes amid an investigation ordered by Ombudsman Jesus Crispin C. Remulla into allegations involving the delayed implementation of the LRT-1 Cavite Extension Project.

Santos said commuters have endured years of long travel times and worsening traffic congestion due to repeated delays in the project’s completion.

Phase 1 of the extension project is already operational, extending LRT-1 service from Baclaran Station in Pasay City to Dr. Santos Station in Parañaque City. The remaining phases will include the construction of the Las Piñas, Zapote and Niog stations, completing the Cavite leg of the extension.

‘Our commuters have heard promises of completion for years. What they need now is not another promise but actual construction, workers on the ground and measurable progress,’ Santos said.

The lawmaker called on the DOTr, LRTA and LRMC to immediately resolve any remaining legal, technical and administrative issues that could further delay the project.

Santos also urged continued congressional and public monitoring to ensure that the government fulfills its latest commitment.

‘We will hold the agencies accountable to this commitment. If construction is promised within the year, then we expect to see actual construction activities before the year ends. The people of Las Piñas deserve nothing less,’ he said.

He emphasized that completing the remaining LRT-1 Cavite Extension stations would provide much-needed relief to commuters traveling between southern Metro Manila and Cavite.

‘For years, our people have been stuck in traffic for hours just to get to work, school and home. The LRT-1 extension can dramatically change that. But its benefits will only be felt when the project is actually built and operational,’ Santos said.

Santos called on the DOTr and other concerned agencies to maintain transparency and provide regular updates on the project’s progress.

‘This project has already lost too much time. We cannot afford another round of delays. The people of Las Piñas and Cavite have waited long enough. Now, we need to see construction begin and this long-delayed project finally move forward,’ Santos said.

TERRA Solar Phase 1 has started commercial operations for its 600 megawatt alternating current (MWac) mid-merit capacity under a power supply agreement (PSA) with the Manila Electric Co. (Meralco).

The declaration of commercial operations beginning August 26 follows from the issuance of the ‘Final Certificate of Approval to Connect’ by the National Grid Corp. of the Philippines (NGCP). The certificate confirms that the facility has met the necessary requirements to safely and reliably connect and operate 950 MWac of solar capacity and 825 MW of battery energy storage system within the national grid. Over the past weeks, teams successfully carried out the required tests, paving the way for the project’s grid approval and Phase 1 commercial operations.

‘This is a significant step toward the future of energy in the Philippines. By combining solar power with battery storage at an unprecedented scale, we’re demonstrating how renewable energy can strengthen energy security, support economic growth, and build a more resilient and sustainable power system for our country,’ said Manuel V. Pangilinan, chairman of Meralco and Meralco PowerGen Corp. (MGEN).

The start of commercial operations follows the inauguration of MTerra Solar Phase 1 on July 14, which celebrated the energization of 1,373 MWac of solar PV capacity and 825 MW (equivalent to 3,300 MWh) of battery energy storage system, making it at that time, the world’s largest integrated solar PV and battery energy storage facility on a single site.

The facility’s Phase 1 progression from groundbreaking in November 2024 to the inauguration in July 2026, and now to its commercial operations, spanning less than two years, represents one of the most significant renewable energy achievements in the country. Another 250MWac capacity to be fulfilled under the same PSA is set to be brought into commercial operations in the upcoming months.

‘The issuance of the FCATC reflects the hard work of our people, the trust of our investors most especially Actis, and our strong partnership with NGCP under the guidance and support of our regulators -the DOE (Department of Energy) and the ERC (Energy Regulatory Commission). The close coordination among the agencies, system operator, and project teams was critical in delivering this remarkable achievement,’ said Dennis B. Jordan, president and CEO of MGEN Renewables and MTerra Solar.

MTerra Solar forms a key part of MGEN’s growing renewable energy portfolio and its commitment to supporting the Philippines’ energy transition. The project is expected to deliver 3,500 MWp of solar PV capacity paired with 4,500 MWh of BESS, further strengthening the country’s renewable energy capacity.

Actis, a leading growth market infrastructure investor, has worked together with MGEN, to jointly develop MTerra Solar. The $600 million investment made by Actis represents the Philippines’ largest foreign direct investment for a greenfield infrastructure project to date.

ARIANNE Colene Jalalon has confirmed the report that Inchcape Philippines and Changan have mutually agreed not to renew their distribution partnership in the Philippines, as Changan advances its long-term plans for the Philippine market.

‘The partnership is now in a transition period that will run through Q4 [fourth quarter] 2026,’ Jalalon said.

Existing customer commitments, including aftersales, warranty, parts and service support remain valid throughout the transition period.

Jalalon cited the statement of Alex Hammett, managing director, South Asia and Pacific, Inchcape:

‘Since 2023, Inchcape Philippines and Changan have worked together to build the Changan brand in the Philippines, supported by Inchcape’s local expertise, distribution capabilities and dealer network.

‘We are committed to supporting our customers, colleagues, dealers and business partners through this transition, and I would like to thank our team at Inchcape Philippines and our dealer partners for their valuable contribution to building and supporting the Changan brand in the Philippines over the past three years.

‘The Philippines remains an important market for Inchcape, with the company continuing to distribute Mercedes-Benz passenger cars, trucks and buses, as well as Jaguar Land Rover, and operating the retail business of Harley-Davidson. Inchcape’s focus is on continuing to grow our existing portfolio and bringing new products to our customers in the Philippines.’

The country is also home to Inchcape’s Digital Delivery Centre and Global Business Services teams, which together employ more than 700 colleagues and support Inchcape’s global operations.

Further information on arrangements following the transition period will be communicated once these are confirmed.

Good luck, fellas.

HIGHEST CAR SALES

JULY proved to be the highest monthly sales for cars in 2026, according to Elvin Luciano. This is significant as this is just five months away from December, the traditional ‘rush hour time’ to buy that dream car for everyone.

In a statement, Luciano said the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and Truck Manufacturers Association (TMA) reported total sales of 37,319 units in July. Combine the data with sales estimates of other automotive brands and you will have a total of industry sales of 42,880, which is the highest monthly sales yet for the year.

‘With this continuous growth, the industry is riding on a good momentum. We are hopeful that the positive trend will continue for the remainder of the year,’ said CAMPI president Jose Maria ‘Jing’ Atienza.

DEMAND

WHILE demand for Internal Combustion Engine (ICE) vehicles remains strong, July’s 2026 growth mainly came from the increased supply of Electrified Vehicles (xEVs), reflecting more than doubled sales versus last year.

‘The shift to electrification continues to accelerate, with xEV’s accounting for 29.5 percent of the market in July. This is up 18 points from same month last year,’ Atienza added.

Of the CAMPI-TMA member brands, Toyota Motor Philippines Corp. (TMP) leads July monthly sales at 17,797 units.

It is followed by Mitsubishi Motors Philippines Corp. with 6,271 units, Suzuki Philippines Inc. 1,689, Honda Cars Philippines, Inc.1,256 and Ford Group Philippines Inc. 1,152 units.

It is worth noting, too, that sales of xEVs continue to rise, eating up on ICE sales performance. It can only mean one thing: We are becoming conscious of developing, preserving, a clean environment brought on by an electrified mobility.

PEE STOP Congratulations to Mitsubishi for its successful launch recently of its Plug-In All-New Outlander PHEV at Solaire North, Quezon City, that saw a huge flock of car devotees in attendance, according to Nelda Castro. Cheers!… Allana Faith Rufo reports that the Toyota Gazoo Racing Philippine Cup Race Weekend 4 will be held on Sept. 12, Saturday, at Clark International Speedway in Angeles City, Pampanga. Admission is free as usual to the event serving as the culmination of the TGR racing extravaganza this year… Car repair shops are flooded with vehicles that got submerged in Metro floods as a result of continuous rains the past two weeks or so, triggered mostly by habagat (monsoon rains). Indeed, for every crisis comes an opportunity for others. As in some lawyers earning a fortune from, ummm, the misfortune of others.

HEAD coach Tim Cone will confidently settle for an 11-man team in the Aichi-Nagoya 20th Asian Games where the Philippines will be defending the men’s 5-on-5 gold medal.

‘There’s a chance that we will only have 11 players,’ Cone told a virtual press conference with Philippine media from their team hotel in Suwon, South Korea, where Gilas Pilipinas is has tune-up games ahead of the Asian Games.

‘If we look back at the Olympic Qualifying Tournament two years ago, we lost Scottie Thompson right before the tournament and we ended up going with 11, and we didn’t miss a beat,’ Cone explained.

Thomspon was sidelined by back issues and missed the OQT with Latvia in July 2024 with Gilas Pilipinas notching a FIBA upset with an 89-80 away victory in Riga.

‘I think we will be fine. These guys are all willing to play extended minutes. I think 11 is a really good number from a coaching standpoint.’

Spot No. 12 on the team, Cone stressed, has been reserved for Justin Brownlee.

‘We have kept that 12th sport open for Justin if he could make it,’ Cone said. ‘We have no confirmation yet from him if he is going to be here or not…the door is still open for him.’

Brownlee is recovering from hamstring and ankle injuries in San Diego, California.

Cone said that a 12th new player will be more difficult ‘logistically-wise’ and that changing lineups and infusion of game strategies would be a challenge.

‘At this point, we do not have a 12th player in mind to come over, we are ready to play all-Filipino,’ he said.

Cone also dismissed getting someone from the Gilas team that played against Jordan and Iraq in the FIBA World Cup 2027 Asia Qualifiers only last weekend in Manila.

‘Based on experience, looking back at the Incheon Asian Games [2014], we got the Madrid World Cup Gilas team under coach Chot [Reyes] that beat Senegal,’ Cone said. ‘But when they competed in the Asiad, they were already totally exhausted and tired.’

That team finished seventh place in the games.

‘So we just decided to have two teams, one for the windows and one for Asiad this time,’ he added.

Cone’s 11 players are RJ Abarrientos, Brandon Bates, Zav Lucero, Don Trollano, Justin Arana, Justine Baltazar, Sedrick Barefield, Adrian Nocum, Robert Bolick, Brandon Rosser-Ganuelas and Jerrick Ahanmisi.

The team will polish its chemistry against South Korea’s national teams on Friday and Sunday at the Hana Bank Invitational at the Suwon Arena.

Asian Games basketball in Nagoya start way ahead of the September 19 opening ceremony with the Philippines facing Bahrain on September 11, Kazakhstan on September 12 and China on September 14 in Group C action.

Basketball will be played at the Aichi International Arena.

THE Philippine Sports Commission (PSC), City of Manila and SM Prime Holdings Inc. formally signed a Memorandum of Agreement on Thursday that will transform the historic Rizal Memorial Sports Complex (RMSC) into a world-class hub for sports, cultural identity and public engagement.

PSC Chairman Patrick Gregorio and Manila City Mayor Francisco ‘Isko’ Moreno Domagoso led the ceremonial signing at the Mall of Asia Square with SM Prime Holdings Inc. President Jeffrey C. Lim, marking a milestone partnership that blends heritage preservation with modern urban development.

‘This is a defining moment for Philippine sports and heritage,’ Gregorio said. ‘The Rizal Memorial Sports Complex is a living symbol of our nation’s sporting legacy.’ ‘With the all-out support of the City of Manila and SM Prime, we are ensuring that this historic district will stand proudly while serving the Filipino people for generations to come.’

Domagoso fully supported the city’s commitment to the initiative, highlighting Manila’s role in opening its streets, enacting ordinances, and supporting the redevelopment ahead of the country’s hosting of the 2027 Southeast Asian Plus Youth Games at RMSC.

‘Manila is honored to partner with the PSC and SM Prime in this transformative project,’ Domagoso said. ‘This is about more than infrastructure, it is about pride, identity, and preparing our capital to welcome our visitors in 2027.’

SM Prime Chairman Hans T. Sy expressed optimism about the partnership noting the company’s long-standing commitment to sports advocacy.

‘Sports have always been a powerful force for people. It builds discipline, unity and pride,’ Sy said. ‘As Rizal Memorial undergoes this transformation, SM Prime is committed to supporting events that bring athletes and communities together.’

‘We believe that investing in sports is investing in the nation’s future, and we are honored to be part of this journey,’ Sy emphasized.

‘The Rizal Memorial Sports Complex has long been part of Philippine history, hosting generations of national athletes, major cultural events and defining moments in sports,’ Lim said. ‘Today, we take an important step in preserving that legacy.’

Under the agreement, the redevelopment will introduce several landmark features designed to blend heritage with modern urban planning and at the heart of the project is the PSC Plaza, which will extend across two lanes of Adriatico Street.

Through a city ordinance, the area will be converted into a walkable public pathway, secured by a usufruct agreement to ensure PSC’s continued use and development.

Complementing this is the construction of an elevated walkway, a coordinated effort among PSC, the City of Manila and SM Prime Holdings, linking the Rizal Memorial Sports Complex with the redeveloped SM Harrison Plaza.

This integration underscores the vision of creating a seamless sports and lifestyle district.

Heritage preservation also takes center stage, with plans to relocate the P. Ocampo statue to make way for a new Dr. Jose Rizal fencing monument, subject to approval by the National Historical Commission of the Philippines.

‘This partnership is about readiness and vision,’ Gregorio said. ‘We are not only upgrading facilities, we are elevating Manila as a sports tourism capital and ensuring that our athletes, fans, and visitors experience the very best.’ Finally, the redevelopment will be reinforced by SM Prime’s urban integration efforts, as the company’s revitalization of Harrison Plaza is set to complement PSC’s upgrades, ensuring that the district evolves into a vibrant hub where history and modernity converge.

Joining Chairman Gregorio in the PSC delegation were Commissioners Olivia ‘Bong’ Coo, Walter Torres and Fritz Gaston, together with Chief of Staff Loujaye Sonido.

They were accompanied by architect Paulo Alcazaren, Atty. Diomarie Pedrozo, Atty. Allan Gabor, Engineer Emman Arcega, Architects Jerome Abad and Michelle Ceballos and Prince Alcantara.

Representing the City of Manila were Mayor’s Office Chief of Staff Cesar Chavez, Mayor Domagoso’s secretary Manuel ‘Letlet’ Zarcal, City Legal Officer Atty. Luch Gempis Jr., City Engineer Armand Andres and Department of Tourism, Culture and Sports officials.

Before they were the most-trusted hands behind Marvel’s largest epics, Joe and Anthony Russo presided over a slightly less potent assemblage of talent: the Bluth family of Arrested Development.

Beginning with Arrested Development (14 episodes directed) and Community (34 episodes), the Russo brothers established an especially keen sense for the rhythms and intersections of ensemble casts.

‘For whatever reason, Joe and I have always really been drawn to ensemble storytelling,’ Anthony says. ‘Maybe it speaks to the fact that we work as a team.’

‘We grew up in a very large Italian family full of colorful personalities,’ suggests Joe, citing their Ohio upbringing. ‘It was complex family dynamics. We all grew up on the same street; people lived in different houses. We spent dinners together on Sundays.

That inclination has served the Russos well in the Marvel Cinematic Universe, particularly in the sprawling superhero films Avengers: Infinity War (2018) and Avengers: Endgame (2019). But even for the Russos, Avengers: Doomsday (in theaters on December 18) is a unique juggling act. It brings together (deep breath) the Avengers, the Wakandans, the New Avengers (from Earth-616), the Fantastic Four (from Earth-828) and the original X-Men.

‘The MCU is this massive experiment in how vast, how much scope can an ensemble really have?’ Anthony says. ‘If we have a taste and talent for ensemble storytelling, we’re certainly pushing ourselves further than we ever have before.’

Joe and Anthony Russo spoke in a recent exclusive interview-or rather interviews, because the brothers spoke separately while knee-deep in work on Doomsday and its 2027 follow-up, Avengers: Secret Wars. They were finishing work on Doomsday-scoring, editing-while, in their words, ‘soft prepping’ production on ‘Secret Wars.’

‘When you’re doing one of these movies, it’s the hardest thing you’ve ever done,’ Joe says. ‘When you’re doing two of them, it’s almost inconceivable. But it’s the second time around we’re doing two back to back.’

After a rocky few years, Marvel looks to reassert its dominance

When the Russo brothers were last at the helm in the MCU, Endgame marked the apex of Marvel as a cultural force. Conceived as the culmination of a decade of movies, Endgame became the second highest-grossing film of all time, with $2.8 billion in ticket sales. (The Walt Disney Co. will bring it back to theaters as Avengers Endgame: Encore on September 25.)

Since ‘Endgame,’ the MCU has undergone plenty of expansion and experimentation. But Phases four, five and six of the MCU have also been notably rockier than the first three phases. Kevin Feige, president of Marvel Studios, has acknowledged that oversaturation played a role in the downturn.

For the first time, Marvel wasn’t immune to the ups and downs that characterize the rest of the movie world. The Marvels in 2023 tapped out with just $206 million in ticket sales. Captain America: Brave New World in 2025 landed the worst CinemaScore, a ‘B-,’ for a Marvel movie.

Doomsday aims to reinvigorate the MCU. It features not just the return of the Avengers and the Russos, but also Robert Downey Jr. The former Iron Man star plays the villain Doctor Doom. Downey has said he wouldn’t have come back if the Russos didn’t, too. So there is a get-the-band-back-together quality to Doomsday, a movie expected to be among the highest-grossing ever. Do the Russos feel that the film will, after some MCU stumbles, restore order in the Marvel universe?

‘It’s a great question. It’s part of the unique challenge,’ says Anthony. ‘The thing that Joe and I have always appreciated about our collaboration with Marvel is: our job isn’t to answer for the entirety of the MCU. We intersect it in a very specific way. It’s that intersection which is where we can make sense of things.’

Can ‘Doomsday’ match ‘Spider-Man’? Of course, Spider-Man: Brand New Day ($2.3 billion worldwide) has already nearly matched ‘Endgame’ in box-office might. Anthony Russo, ‘buzzing’ from the movie, calls the film’s reception ‘a wonderful challenge.’

Yet the Russos promise something special in Doomsday. They have referred to it as ‘back to zero,’ ‘starting from scratch’ and ‘a profound shift’ in the MCU. Even in the ever-expanding realm of the MCU, the Russos have been animated by stories with defined beginnings (Doomsday) and legitimate endings (Endgame). Even if Endgame wasn’t really the end, they needed to believe it was.

Since then, the Russos have directed three films for streaming: 2021’s Cherry, for Apple Studios; 2022’s The Gray Man, one of Netflix’s most-watched original films; and 2025’s The Electric State. They also launched an action franchise for Netflix with Extraction. Their production company, AGBO, has turned into a consistent blockbuster maker, producing not just Doomsday but the Oscar-winner Everything Everywhere All at Once.

It took something extra to bring the Russos back to Marvel. They were coaxed back, Anthony says, by a ‘foundational narrative concept’ suggested by cowriter Steve McFeeley.

‘We never want to coast on the capital that already exists,’ he says. ‘We want the greatest value of the film to reside in the new thing it’s bringing to the table.’

A lot has changed since the Russos last released a Marvel movie. The pandemic came and went. The industry defaulted to streaming, only to again embrace theatrical. The phrase ‘superhero fatigue’ was trotted out at times, though less so after Brand New Day.

If there’s a guiding template for the Russos for the kind of movie they want to make-one with grand scale and moments of emotional intimacy-it’s the Western. Sergio Leone’s Once Upon a Time in the West was a particular inspiration for Doomsday.

‘Joe and I grew up fans of all types of cinema, but Westerns have always been very special to us. Throughout cinema history, the Western has been declared dead for decades, and then you can still make one of the greatest examples of the genre.’

The Germans have a word for it. Zugzwang is a term describing a situation in chess and other turn-based games (like government policy) where a player must make a move. Yet every available move worsens their position with different degrees of loss.

China’s current economic data reads like a position under zugzwang. Industrial production slowed in July. Retail sales barely grew. Wind Economic Database on the monthly split show retail services sales growth dropping to about 3.2 percent in July from above 6 percent in January.

Goldman Sachs’ early-Q3 estimate of roughly 4 percent would, if sustained, represent China’s weakest quarterly growth rate in the past decade outside the pandemic period. July’s slowdown is more troubling than April’s because it began from a weaker base and struck sectors that had looked resilient. President Xi Jinping arrives at his September meeting with President Trump holding a poor hand.

Beijing was never forced into zugzwang. In July only 17 of 70 major cities recorded new home price increases. China’s property market has fallen since mid-2021, with national new-home prices down year-on-year since April 2022, per National Bureau of Statistics (NBS) data. Meanwhile, Beijing had two paths open to it. One was repair: a large, direct fiscal push to recapitalize developers, backstop household mortgages, and absorb unsold housing.

The other choice was timid restraint: smaller rate cuts and targeted local support, sized to avoid overloading the central government’s balance sheet but not sized to clear the inventory or restore confidence. Beijing chose restraint, and the bill has been coming due in installments ever since.

The clearest sign of that choice shows up in the ‘credit impulse,’ an indicator tracking not how much credit exists but how fast new credit is accelerating relative to the size of the economy. A rising credit impulse means new lending is accelerating and should show up in growth within six to 12 months. China’s has rolled over from a solidly positive reading to a negative one, meaning the fuel that precedes recovery has been cut, not added. China’s 10-year government bond yield has fallen since February while yields in the US, Germany, and Japan have all risen. If Beijing expected a real recovery this fall, yields would be rising in China too.

Every move available to Beijing carried a cost the leadership judged worse than the one it chose. A larger stimulus meant more debt on a balance sheet already strained. A weaker yuan meant capital flight risk. Opening the credit taps further meant repeating the excesses of 2015. Beijing picked the least uncomfortable weakness and walked into it deliberately, selecting a losing position from a menu of choices, all of them survivable but with varying degrees of pain.

China’s problem is that earlier policy choices have reduced the number of painless choices available now.

The Philippines plays a smaller board but makes the same kind of selection. A stock exchange kept thin, with the country’s biggest exporters absent from it, was not a forced move. It is a preference for concentration among a handful of conglomerates over the harder work of building listing pipelines and enforcing free float. The Philippines’ manufacturing base was never developed. Instead it was offset by remittances from citizens who left because the jobs were never built here. It was decades of choosing the path that required less pain today over the one that offered ‘more pain, more gain’ for tomorrow.

China and the Philippines are not facing the same economic problem. They share a deeper one: past policy choices have narrowed what’s left.

Xi Jinping is due in Washington around September 24, his first visit since Trump returned to office. The trade truce the two sides struck in Busan last year expires in November, so whatever gets settled in September carries a deadline behind it.

Tariff levels, export controls on rare earths and semiconductors, and the broader trade relationship remain unresolved despite a May 2026 agreement. The two sides did establish a ‘Board of Trade’ to formalize it.

Xi does not walk into September with a weak economic hand by accident. A government willing to let a property slump run for years rather than repair it in one shot is a government built to accept unfavorable terms at a negotiating table rather than fight hard to reverse them. What Beijing is playing in September is closer to a poker player checking with a weak hand, betting that the other side blinks first.

Trump has spent years in constant trade battles. Xi has been battling with his own economy.

E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.

Two amazing actresses that are effortlessly catching televiewers’ attention on the widely-followed TV series The Master Cutter interestingly share the same first names: Max Eigenmann and Max Collins.

Both gorgeous and grounded, these two have started to develop a wonderful friendship that continues to be strengthened by time and activities spent on the set. ‘We share a lot in common, and we are both very straightforward and realistic in our views about many things-the industry we are part of, work ethics, people, food, travel adventures, the list goes on and on,’ shared Eigenmann.

‘We are both fun-loving, and we can talk about almost anything. We also share a lot of stories about our children, that’s why we bond so well, on and off the workplace,’ Collins added.

The two Maxes happen to be fulfilled single moms too. Eigenmann has two boys (Alessandro and Massimo), and Collins also has a boy, Sky. ‘We are both fortunate that we have strong support systems from our families and closest circle of friends. Shared parenting setups generally favor partners who are separated, but it’s always still a case-to-case basis, since people and existing situations are almost always different from each other. I guess the bottomline is the level of maturity required because the common goal is to raise our kids to be kind, good, strong and happy individuals in the future,’ Eigenmann said.

If not on the set of their TV series or other acting projects, both Maxes make themselves busy with work that makes them productive. Collins has her IV therapy business and we heard it’s doing good, especially since she is also into wellness herself. ‘We offer custom IV vitamin infusions, hydration, and peptide therapy, and we plan to expand across the country in the future,’ shared Collins, who is a Sparkle artist.

Eigenmann is part of the team that runs Ono Kai, a modern, multi-concept dining and bar experience in Makati. ‘I love meeting people, I love food, and seeing people happy and enjoying life to the fullest makes me happy, too,’ said Eigenmann.

Collins and Eigenmann are also laudable actors. Collins is an Eddy’s best supporting actress winner for Mike de Leon’s final feature film Citizen Kane, while Eigenmann has won numerous awards both in the Philippines and overseas.

Eigenmann won the Asia Pacific Screen Awards Best Actress for Raymund Gutierrez’s Verdict and bagged the Jury Performance Award at the Los Angeles Asian Pacific International Film Festival for her lead role in the UK movie Raging Grace, directed by Paris Zarcilla. She also won lead actress trophies from the Gawad URIAN, Cinemalaya Independent Festival and The Young Critics Circle for Anna Isabelle Matutina’s 12 Weeks.

Both Maxes love to travel during long weekends or during long breaks from working as actors. Incidentally, both just came from Palawan recently-Collins took a few days off to celebrate her birthday in El Nido while Eigenmann hied off to Coron with a very special person in her life. ‘He makes me very, very happy,’ Eigenmann whispered, with a tone that’s almost giggly.

After being recharged by the energies of mother nature, both Eigenmann and Collins are back in the thick of work for The Master Cutter, headlined by Dingdong Dantes and which is entering a new season on GMA. ‘There are so many surprises that will unravel for our viewers in the coming weeks, and our creative and production teams are making sure that the new subplots will keep them glued,’ declared Eigenmann. Collins was quick to add, ‘And we have new characters that will add twists and turns to the already escalating narrative.’

These two have gone through so much in their personal lives but they have remained steadfast and indomitable, always looking and moving forward. Max Eigenmann and Max Collins are fierce, fun and fearless women blessed with natural grit and grace, and they not only carry themselves with gravitas but also have become masters in creating their own destiny and happiness.

WHILE cockfighting is rampant in almost every corner of the Philippines, dogs, carabaos, and horses are also for entertainment and gambling that involve fighting animals, and this does not sit well with animal rights groups like People for the Ethical Treatment of Animals (Peta).

In Bukidnon, a scheduled horsefighting derby was shelved after Peta filed a complaint against holding the activity for entertainment purposes.

Acting on a tip from Peta, authorities in San Fernando, Bukidnon have shut down an illegal five-day horse fighting event that had been set to run from September 15 to 19-sparing as many as 165 horses from being forced to bite, kick, and bash each other bloody while crowds place bets, says Peta.

Peta sent a letter to the San Fernando chief of police, Maj. Arnold D. Formento, noting that the event would violate the Animal Welfare Act-which explicitly prohibits horse fights-and warning that such spectacles are commonly tied to illegal gambling operations.

Formento took the case to the mayor and other local officials, who worked together to stop the event from taking place. Formento also held a dialogue with tribal residents of San Fernando, who said they wanted no part of horse fighting and accused organizers-described as a large-scale gambling syndicate-of invoking their communities and ‘cultural tradition’ as a cover.

‘Horsefighting is a cruel, criminal racket in which stallions are whipped into a frenzy and forced to tear each other apart while screaming crowds bet on the outcome,’ says Peta President Jason Baker.

‘Peta is calling on local officials across the country to follow San Fernando’s example and act swiftly to shut down these violent, illegal events.’

During horsefighting events, stallions are restrained in proximity to a mare in order to deliberately provoke them before they’re forced into the ring. Horses used in these events frequently suffer deep gashes and broken bones-and some have had their ears ripped off or their eyes knocked out. Those deemed no longer useful are slaughtered for meat.

The Bukidnon derby is the latest in a string of illegal horse events Peta has helped stop, including those scheduled in Liliw, Laguna; and in Lucban, and Tayabas City, Quezon. Peta urged anyone with information about horse fighting or other illegal activities involving animals to report it immediately to local authorities or to Peta.