Category: Business Mirror

Accounting firm PandA Grant Thornton (Punongbayan and Araullo) said it signed a memorandum of understanding (MOU) with the Philippine Economic Zone Authority (Peza) to strengthen knowledge-sharing initiatives and capability-building programs for Peza employees, registered business enterprises and members of the ecozone industry.

The partnership will focus on PandA Grant Thornton’s role as a knowledge partner of Peza, through the Peza Academy, on matters relating to accounting, audit, taxation, compliance, advisory and other business-relevant topics.

Backed by the accounting firm’s experience in helping businesses address regulatory and operational challenges, the collaboration aims to support Peza’s development programs and equip them with practical insights to strengthen standards compliance, business resilience and sustainable growth.

The agreement was signed by Romualdo V. Murcia III, chairman and managing partner of PandA Grant Thornton and Tereso O. Panga, Director General of Peza.

‘By sharing our experience and expertise, we hope to contribute to Peza’s continuous efforts to empower its registered enterprises, enhance their competitiveness, and create lasting value for the broader business community,’ Murcia said.

‘Beyond enhancing individual capabilities, this partnership contributes to PEZA’s broader mission of fostering a competitive and investment-friendly business environment. A well-equipped workforce and well-informed enterprises translate into better services, stronger governance, and greater confidence among investors-qualities that reinforce the Philippines’ position as a preferred investment destination,’ Panga said.

The accounting firm said it will deliver learning initiatives that translate technical knowledge into practical guidance for employees, supporting the shared goal of building more informed, prepared and resilient enterprises.

PRESIDENT Ferdinand Marcos Jr. said the government is bracing for extended ‘geopolitical tensions and economic challenges’ in its proposed P7.2-trillion 2027 national budget to allow the country to sustain its economic growth next year by prioritizing ‘investments in the Filipino people.’

The chief executive made the commitment in his 51-page President’s Budget Message with the 2027 National Expenditure Program, which was submitted by the Department of Budget and Management (DBM) to the House of Representatives on Tuesday.

‘Amid continuing global uncertainties-including geopolitical tensions, persistent inflationary pressures, and volatile energy prices-we remain steadfast in pursuing growth that is both resilient and fiscally responsible,’ Marcos said.

He said the budget will allow the government to meet its Philippine Development Plan (PDP) 2023-2028 and its long-term vision under Ambisyon Natin 2040, while reducing unnecessary expenditures and maintain its Upper Middle Income Status (UMIC) as it is faced with economic headwinds in the coming months.

‘This budget strengthens our capacity to invest in strategic infrastructure, human capital, food and energy security, and social protection, while reinforcing transparency, accountability, and the efficient use of public resources,’ he said.

‘Economic growth is meaningful only when it creates jobs, reduces poverty, strengthens the middle class, empowers local communities, and ignites renewed hope that tomorrow will be better than today,’ he added.

The President directed all agencies to focus on measurable outcomes, align proposals to the development agenda, and eliminate unnecessary or inefficient expenditures.

The 2027 NEP, he said, will contain provisions of the Unified Package for Livelihoods, Industry, Food, and Transport (UPLIFT) initiative, which aims to provide support to sectors affected by the Middle East crisis including fuel and rice subsidies as well as cash aid.

‘More than a short-term intervention, UPLIFT is a comprehensive whole-of-government framework that equips the country to respond proactively to global disruptions while supporting households, businesses, and key productive sectors,’ Marcos said.

‘Together with our broader fiscal reforms, it reinforces our strategy of stimulating economic activity through carefully calibrated public spending without compromising long-term fiscal sustainability,’ he added.

The war in the Middle East broke out after the United States and Israel attacked Iran last February disrupting global supply chains and triggering pump prices.

As of press time, the US and Iran have yet to come out with a deal to end hostilities in the Middle East.

The economic impact of the regional conflict was made worse by the slowdown in government spending on infrastructure projects after it launched a crackdown on anomalous flood control projects last year.

The Bangko Sentral ng Pilipinas said the ongoing El Niño, which is expected to last until the first quarter of 2027, can also cause food supply pressures.

Gross domestic product from January to March slowed down to 2.8 percent from 5.4 percent year-on-year, according to the Philippine Statistics Authority (PSA). Economic growth further weakened in the second quarter of the year to 2.3 percent.

Marcos urged Congress to pass the 2027 national budget with provisions consistent with the ‘people-centric’ goals of his administration.

‘Let us rise above differences and work together to ensure that every appropriation serves its intended purpose and every peso delivers real and lasting value,’ he said.

The enhanced southwest monsoon, or ‘habagat,’ continues to bring heavy rains and widespread disruption across Luzon, leaving communities flooded, families struggling to rebuild and responders racing against time in search-and-retrieval operations.

Floodwaters reach the Sto. Niño Parish Church in San Fernando, Pampanga, on Monday, August 10, as rains continue in the area. Churchgoer Efren Cruz said the area has endured 18 consecutive days of rain.

In Talon Tres, Las Piñas, residents living beside a creek begin rebuilding after floodwaters destroyed most of their belongings.

They recalled fleeing their homes as the waters rapidly rose, taking only their loved ones to safety, and are now seeking assistance from the local government.

In Guisad Surong, Baguio City, response teams continue search, rescue and retrieval operations following a landslide.

An Incident Command Post has been established at the site, while volunteer groups provide support to responders.

Baguio City Mayor Benjamin Magalong said 13 people were involved in the incident, with six still missing. Seven have been recovered-three alive and four dead.

PHOTOS BY NONOY LACZA (Pampanga), NONIE REYES (Las Piñas) and MAU VICTA (Baguio)

Aboitiz Power Corp.-backed mobility startup Voltai plans to expand its motorcycle battery-swapping network to approximately 1,000 stations over the medium-term, starting 2027.

Following the launch of 15 stations at Cleanfuel sites, the company is prioritizing the saturation of the National Capital Region (NCR) market before expanding north and south. Currently, Voltai already has the largest 2W electric vehicle (EV) swap network in the Philippines.

‘Our current network density is already sufficient to cover our targets for the next year or so. We’ll probably see more network expansion by next year,’ said Voltai co-founder and chief product officer Nico Policarpio. ‘Our current priority is first to saturate Metro Manila and then go up to the north and south of it.’

The company has successfully tested its EV ecosystem through pilot runs with providers like JRS Express and Xpress, leading to ongoing commercial agreements.

‘Most of our initial pilot partners are continuing into commercial agreements with us, and that’s a great boost of confidence and a testimonial that the ecosystem, the product, and the technology works and can do so on a greater scale,’ Policarpio said.

The Voltai ecosystem offers two-wheel EVs, battery-swapping stations, fleet software, rider apps, and full after-sales support. This is all on a lease basis for a fixed fee, removing upfront vehicles spare parts, and repair costs. Fleet operators have achieved 20 percent to 60 percent in operational savings during pilots.

Maximizing its two battery capacities, a two-watt Voltai motorcycle can travel up to 140 kilometers, with a maximum speed of around 80 kilometers per hour and a carrying capacity of 200 kilograms.

‘At any given time, the platform shows where the motorcycles are in real time, the trips they’ve been on, how far they’ve gone, where they went, and how much tailpipe emissions were avoided,’ added Policarpio.

Plans are also underway to expand in Cebu and Davao.

Voltai is under 1882 Ventures, the startup and innovation arm of AboitizPower.

The Aboitiz energy unit recently reported that its net income rose by 45 percent year-on-year to P18.4 billion in the first half, driven by higher generation margins and capacity expansion.

While earnings before interest, taxes, depreciation, and amortization (EBITDA) for generation and retail supply rose 29 percent, distribution business EBITDA declined 3 percent due to higher expansion expenses.

AboitizPower said overall financial performance was buoyed by increased energy sales and contributions from new solar and hydro assets.

More than 20,000 housing loan borrowers of the National Home Mortgage Finance Corporation (NHMFC) will benefit from a one-month moratorium on the payment of their monthly amortizations effective August 5, 2026 to September 4, 2026, following the continuous heavy rainfall brought by Tropical Storm Maymay and the enhanced Southwest Monsoon.

The moratorium forms part of NHMFC’s continuing efforts to provide immediate financial relief to borrowers affected by calamities and severe weather conditions in the provinces of Benguet, La Union, Pangasinan, Bataan, Bulacan, Pampanga, Tarlac, Zambales, Batangas, Cavite, Rizal, Occidental Mindoro and Oriental Mindoro

NHMFC President Renato L. Tobias emphasized that the measure is intended to give affected families temporary financial breathing room as they recover and address their immediate needs.

‘Through this moratorium, NHMFC is providing our affected borrowers with immediate financial relief while assuring them that we remain ready to support them as they rebuild and recover,’ President Tobias said.

Under the moratorium, payment of monthly amortizations will be deferred for one month, with no penalties or surcharges imposed on the deferred amortization during the period.

Borrowers covered by the moratorium who still wish to continue their monthly payment may do so voluntarily. For borrowers whose accounts are updated, any payment made during the moratorium period shall be considered as advance payments.

Through these relief measures, NHMFC continues to uphold its commitment to responsive public service and to supporting Filipino homeowners during times of calamity and financial difficulty.

The Department of Labor and Employment (Dole) revoked the Alien Employment Permits (AEP) of six Chinese nationals who work at the raided Chuangxing Steel Incorporated plant in Magalang, Pampanga.

Their records were endorsed to the Bureau of Immigration after authorities found that foreign workers had allegedly been brought directly from mainland China without the required employment documents and permits.

Chuangxing Steel was raided by the National Bureau of Investigation and the Presidential Anti-Organized Crime Commission in July over the alleged possession and use of radioactive-bearing industrial materials and the production of substandard steel products.

Authorities earlier reported seizing more than P3 billion worth of radioactive-bearing raw materials, substandard steel products and contaminated production equipment from the plant, while hundreds of workers were removed from allegedly hazardous working conditions.

Apart from the issue on employment of foreign workers, labor authorities flagged serious health and safety risks arising from the potential presence of radioactive materials inside the facility.

An investigation also found that the company failed to present basic employment records and allegedly did not properly pay overtime and holiday wages.

Workers were also found without mandatory Social Security System, PhilHealth and Pag-IBIG coverage.

Chuangxing Steel also failed to present a workplace sexual harassment policy and establish a Committee on Decorum and Investigation.

Labor Secretary Francis N. Tolentino directed Bantayan Manpower Services to cooperate with DOLE Regional Office 3 in resolving deficiencies involving wages and mandatory employee benefits.

Meanwhile, the work stoppage order issued against the Magalang facility on July 25 remains in effect.

‘This hearing should also bring changes to the mechanism and process for protecting Filipino workers,’ Tolentino said.

AS if by design, Alex Eala lost to Belinda Bencic.

It’s a bold assessment, but I’ll stick to it.

This was last Monday, August 10 Philippine time, when Bencic, the 29-year-old Swiss machine, hammered out a 6-4, 6-0 win over the 21-year-old Eala in the Round of 16 of the National Bank Open in Toronto, Canada.

It was a mismatch, to say the least.

The scores showed it as results never lie.

How can Eala lose a set at love when she had just gallantly, courageously, piled up seven straight wins before she faced Bencic?

There is but only one credible explanation to this: Eala was exhausted going into the Bencic match. Dog tired.

Anyone daring to question that is absolutely out of order.

Eala appeared visibly spent playing Bencic, huffing and puffing to save shots, groaning and groping to retrieve blistering returns that, on ordinary days, were mere chicken feed.

Eala’s been in grueling battles for two straight weeks. She had struggled to win big matches.

Did she not string up five straight wins to win the Mubadala DC Open in Washington for her first WTA 500 title?

That was a tough act to follow as her victims included top notch players like 2024 Olympic champion Qinwen Zheng, defending champion Leylah Fernandez and No. 1 ranked and world No. 3 Jessica Pegula.

In the finals of the Mubadala DC Open, Eala had to buck a 4-6 first-set loss to win the last two sets-capping her maiden WTA crown with a phenomenal 6-0 triumph over Pegula in the third-set decider after a crucial 6-4 win in the second set.

And before she faced Bencic in the National Bank Open third round, Eala hurdled previous tormentor Alycia Parks in another nerve-wracking three-setter, 6-1, 4-6, 6-2, in the first round.

And in her second-round match against American Caty McNally, Eala had to again dig deep into her arsenal of tricks to capture a lung-tearing 6-3, 5-7, 6-4 victory over an opponent that had ousted reigning Wimbledon champion Linda Noskova just the day before.

You complete back-to-back wins in as many days-both three-setters at that-what does that tell you?

Add the previous five energy-sapping wins before that and what have we got here?

A WMD-Weapon of Mass Destruction?

Oh, yes, wait a minute.

What about Eala’s doubles date with Venus Williams?

A disaster as they bowed in the first round-after Eala’s hard-earned win over Parks.

That loss added up to Alex’s fatigue factor.

In the end, though, I’ll give it to Bencic, albeit grudgingly.

Bencic is a 10-time champion to Eala’s solitary title.

A mother of one from Flawil, Switzerland, Bencic knew she had a virtual weakling at her disposal in Eala-Alex was obviously there for the taking, like a game fowl.

The cruel thing in sports is, you are like a soldier. You kill everything that moves.

No quarters given.

But Eala knows, too, that a loss is but a temporary setback. And, in fact, her defeat to Bencic will afford her the luxury of grabbing more rest in preparation for the Cincinnati Open set Aug. 14-23 in Ohio, USA.

Then, after that, it’d be the real deal: the US Open from Aug. 30 to Sept. 13, the season’s fourth and last Grand Slam set in Flushing Meadows, New York.

Not to worry, Alex. The Filipino got your back.

THAT’S IT Birthday greetings to Col. Serge Austria (ret.) on August 11 from his JALOTS wine mates: Jake P. Ayson, mistah Admiral Louie Fernandez (ret.), Los Angeles-based Tony Sisante and yours truly. Isang manipis!

In discussions surrounding Philippine economic growth, Metro Manila’s transport crisis is almost exclusively measured by how slow vehicles move and the hours wasted either in traffic or trying to find a ride.

It’s not only anecdotal-they’ve actually measured how much the country loses daily in economic terms. The Philippine office of the Japan International Cooperation Agency (JICA Philippines) estimates that traffic congestion costs our economy roughly ?3.5 billion in lost productivity daily.

Yet, for millions in the urban workforce, the most damaging aspect of the daily commute does not occur behind the wheel of a private car. It happens on the sidewalk or in one’s home, staring at a spinning wheel in a smartphone application. Five minutes pass. Then fifteen. Should I have just walked to the corner and taken a jeep? What if I just Lalamove myself, get delivered like a package? Well, the good news is, it is now possible to Lalamove yourself through Lalamove Ride.

What is actually going wrong

The problem is not that you booked the wrong place, or too late, or on the wrong app. At its core, it is an imbalance between demand and supply. At rush hour, far more people need a ride than there are cars available to give one. Pricing, matching, and traffic pile on top, but underneath them sits that simple imbalance.

The strain is real and measured. The 2025 TomTom Traffic Index found that Metro Manila drivers lost about 143 hours, nearly six days, to traffic last year – and that counts only time spent moving, not the minutes bled on curbsides waiting for a car that may never come.

It also explains what makes commuters feel a little crazy every morning: opening multiple apps does not help. Fares rise because prices are doing their ordinary work, rationing too many riders against too few cars. And drivers cancel because, with more requests than they can serve, a driver can pass on one booking to hold out for a better one. Even the incumbent platforms have long attributed the difficulty to the same root cause: not enough cars on the road.

So the instinct is to want more cars. But that is not something Metro Manila can freely add. The roads are congested, and the number of ride-hailing vehicles allowed to operate is limited by regulation, precisely to keep that congestion in check. The supply cannot simply be willed upward. Which points to a better question: not how to put more cars on the road, but how to make fuller use of the ones already on it.

Where the answer might come from

This is where Lalamove enters, though not in the way a new competitor usually does. Its network exists for deliveries, but the drivers in it are qualified to carry passengers too, and through Lalamove Ride, they can. The opportunity is in the overlap: a large, already-vetted pool that can be pointed toward passengers at rush hour, without adding a single new vehicle to the road.

The pool is real and sizable, but scale alone is not enough-passengers also need to trust the people behind the wheel. Lalamove Ride’s 20,000-and-counting qualified ride-hailing partner drivers each undergo a strict registration process. Every ride is also backed by built-in safety features: real-time GPS tracking, trip sharing, an SOS emergency button, 24/7 in-app support, and passenger accident insurance provided by Chubb. Together, these measures help ensure that expanding ride availability does not come at the expense of passenger safety.

Deliveries and commuting do not peak at the same times – parcels fill the quieter hours, passengers surge at rush hour – so a driver who can move between the two keeps earning across the day instead of idling between bookings. That answers the obvious worry, too: if drivers can choose, do they just take the better-paying trip, and do deliveries suffer? To a degree, any driver with options weighs them. But a driver free to shift between parcels and passengers is one who keeps working at all, and the rigidity of drivers locked to one kind of trip is part of how the shortage got so stubborn to begin with.

That same delivery backbone is why the service can reach where passenger apps usually will not – out to Cavite, Laguna, Bulacan, Rizal, or Pampanga, the longer provincial trips others quietly decline. It is early, and it will take time for people to learn the option exists. But that is a matter of awareness, not capability, and it is worth the wait.

The morning, returned

It will take working mass transit, honest regulation, better roads, and supply that does not exist yet to fully untangle Metro Manila’s traffic. But relief does not have to arrive all at once. Sometimes it is just one more real option on a bad morning, one more set of cars that could be in the pool, one more chance that the next tap is the one that works. And for the commuter standing in the living room, bag packed, watching the wheel spin, even that is not a small thing.

The camp of Vice President Sara Duterte on Tuesday said it was not surprised by the filing of a grave threats case against her by the Department of Justice (DOJ) and expressed confidence that the charges would eventually be dismissed.

Lawyer Paul Lawrence Lim, Duterte’s counsel in the case, said the Vice President’s legal team had anticipated the development and was prepared to challenge the case filed before the Quezon City Regional Trial Court.

‘Under the prevailing circumstances, we have anticipated and prepared for such an outcome. Under our laws, the Vice President continues to be presumed innocent and is confident that the charges against her will be dismissed,’ Lim said in a statement.

The case involves Duterte’s statements concerning President Ferdinand Marcos Jr., First Lady Liza Araneta-Marcos and former House Speaker Ferdinand Martin Romualdez.

The same statements are also the subject of Article IV of the impeachment complaint against Duterte.

Lim maintained that Duterte, as the sitting Vice President, may not be prosecuted for the alleged offense.

He said the defense would avail itself of all available legal remedies to address the charges and the legal issues arising from the prosecution.

‘Given these serious legal issues faced by the Vice President, we will exercise all available legal means and remedies in due course,’ Lim said.

As demand for master-planned communities continues to grow in Southern Luzon, Nuvali is drawing another major developer into its expanding eco-city.

Ayala Land Inc. (ALI) has tapped Chan-Toei Properties Inc. (CTP) to develop a new residential community within Nuvali, further broadening the residential offerings in the country’s largest and one of its most established sustainable mixed-use estates.

As one of the country’s leading mixed-use estates, Nuvali continues to generate interest and attract residential developments that align with its vision of creating master-planned,nature-integrated communities. Moreover, the addition of Chan-Toei Properties reflects the estate’s continued evolution as Nuvali grows into one of Southern Luzon’s leading business, lifestyle and residential destinations.

‘We are pleased to welcome Chan-Toei Properties as one of the select residential developers in Nuvali,’ said Meean Dy, President and CEO of ALI in a press statement. ‘Their approach to residential development aligns with our long-term vision for Nuvali as a well-planned, nature-integrated community. We look forward to the new residents, ideas and experiences this community will bring as Nuvali continues to grow.’

The upcoming residential community will be developed solely by CTP. While ALI continues to guide the long-term planning, stewardship and sustainability of Nuvali, CTP will lead the planning, design, development and marketing of the new neighborhood.

Located within walking distance of CTP’s flagship residential project, Hana Garden Villas, the new development builds on the company’s growing reputation for crafting thoughtfully designed homes inspired by Japanese principles of quality, functionality, and timeless design.

The strong market reception of Hana Garden Villas has seen an influx of end-users where nearly all buyers were end-users rather than speculative investors, emphasizing the appeal of CTP’s developments among families seeking homes for long-term living. The sustained end-user demand underscores a growing preference for communities that deliver enduring value, quality craftsmanship, and a lifestyle centered on comfort, convenience, and well-being.

‘We are deeply honored by the opportunity to become part of Nuvali’s continuing story,’ said CTP Chairman Jose Mari Chan. ‘At Chan-Toei Properties, we believe a home should enrich everyday life. We look forward to creating a community that reflects our commitment to thoughtful design, quality craftsmanship and places where families can build meaningful lives for generations,’ Chan said.

The newest community under the CTP will offer future homeowners immediate access to the estate’s expanding network of educational institutions, healthcare facilities, retail destinations and recreational parks that seamlessly integrates Japanese-inspired, family-centric homes into a vibrant and connected environment.

CTP is a joint venture between the Chan family-whose business interests span sugar manufacturing, trading and power co-generation-and TOEI, a subsidiary of IIDA Group Holdings, Japan’s largest homebuilder by number of homes built annually.