Category: Business Mirror

The defense panel of Vice President Sara Duterte on Wednesday argued that her controversial remarks against President Ferdinand Marcos Jr., First Lady Liza Araneta-Marcos and former House Speaker Ferdinand Martin Romualdez may have been taken out of context.

During the ninth day of the Senate impeachment trial, defense counsel Mark Vinluan asked National Bureau of Investigation (NBI) Director Melvin Matibag whether Duterte had said her remarks were made in jest.

‘Didn’t Vice President Sara say her statement in jest?’ Vinluan asked during cross-examination.

Matibag replied that he could not speak on Duterte’s state of mind.

Vinluan then suggested that the NBI may have interpreted the Vice President’s remarks without considering their full context.

Matibag disagreed, saying law enforcement authorities could not simply disregard statements made by the country’s second-highest official.

‘It would be difficult for us in law enforcement to simply take for granted the statement of the Vice President,’ he said.

The defense also raised remarks made by Davao City Mayor Sebastian ‘Baste’ Duterte during a Maisug rally, where he called for the President’s head, arguing that they constituted protected political speech.

‘As a lawyer and former dean, are you aware that political speech is constitutionally protected?’ Vinluan asked.

Matibag replied that constitutional protection depends on the nature of the speech.

‘And unless we are under martial law again, Mayor Baste is free to express his dissent against the government,’ Matibag said.

Vinluan pointed out that the Philippines is not under martial law.

Matibag responded that while freedom of expression is constitutionally guaranteed, it is not absolute.

‘Freedom of expression also has its limits. If it violates the law, it is no longer protected by the Constitution,’ he said.

Later in the proceedings, Vinluan sought to strike one of Matibag’s earlier responses after asking whether the NBI’s ongoing investigation could result in another case against the Vice President.

‘Are you saying that once you reach your findings, because we are all waiting for that, is it correct to say that you will have another case against Vice President Sara?’ Vinluan asked.

The court did not immediately rule on the defense’s motion to strike Matibag’s answer.

Modern Shang welcomes the rainy season with a comforting new addition to its menu: 3 kinds of congee (only P268). Designed to bring warmth and comfort with every spoonful, whatever the weather, the collection features flavorful varieties: Pork Congee, Century Egg Congee, and Beef Congee.

Slow-cooked to achieve a silky, velvety texture, each bowl is hearty and satisfying. It is the perfect companion for rainy days and cozy moments alike.

VICE President Sara Duterte, invoking security considerations, wants all food served to her defense team supplied by a caterer accredited by her office. In a letter to Senate President Sherwin Gatchalian, she also asked the Senate to shoulder the costs of the catering services of her impeachment trial defense, support staff and witnesses.

Duterte, in her one-page letter dated July 7, stressed that the request is necessary to safeguard the safety and well-being of the defense team, staff members, and the witnesses to ensure their full and effective participation, and support the orderly and uninterrupted conduct of the proceedings.

‘In light of the unique circumstances of the trial and the need to safeguard all individuals directly participating in the proceedings, the Office of the Vice President respectfully requests the implementation of the following arrangements throughout its duration: That all food and beverage intended for the members of the defense team, support staff and witnesses shall be served exclusively in their designated holding room,’ the one-page letter read.

Duterte has requested that all food and beverage shall be sourced, prepared, and served exclusively by the accredited caterer of the Office of the Vice President.

‘As these requirements are required solely in connection with these proceedings, the OVP respectfully requests that the Senate shoulder the reasonable costs of food and beverage and catering services for the defense team, support staff and witnesses,’ she added.

The Department of Information and Communications Technology (DICT) is seeking around P2.7 billion in next year’s national budget to sustain and expand the government’s digitalization program.

DICT Undersecretary for E-Government David Almirol Jr. said the agency has yet to settle on a final figure, but estimated that the eGov program’s overall requirement for 2027-covering cloud services, cybersecurity tools, programmer salaries, and system sustainability-would reach about P2.7 billion.

Of that amount, at least P800 million would go to the eGov PH Super App alone, excluding cloud costs.

‘We are being extremely thrifty,’ Almirol told reporters on the sidelines of the eGov Hackathon on Tuesday, noting that the government’s past digitalization projects often ran into billions of pesos. ‘We can see that digitalization doesn’t actually need to be expensive. If you know how to optimize and avoid repeating processes and systems, it will really come in under budget.’

Almirol said he is hopeful that the government will soon put a line item on eGov itself, drawing confidence from Republic Act 12254, or the E-Governance Act, which established e-government as a distinct program with its own dedicated budget.

The new law opened two additional funding channels for eGov. The DICT can now draw from the Spectrum Fund administered by the National Telecommunications Commission (NTC)-previously earmarked solely for the Free Wi-Fi program-to support eGov’s sustainability.

The agency is also now authorized to enter into business-to-business contracts with other government agencies, offering itself as a managed services provider in lieu of expensive private or overseas contractors. Revenue generated from these engagements can be retained in a sustainability fund under the new law.

‘It’s cheaper, and the money stays within the government,’ Almirol said.

The undersecretary said the DICT built all 28 of its digital platforms in-house, without outside contractors, but conceded that the agency can no longer sustain the workload on its own. He said it is time to craft a transition plan that would allow startups and the broader information technology community to help maintain and enhance the systems, strengthen security, and review the platform architecture.

‘There needs to be someone to sustain what we’ve started, or else everything we built will just crumble,’ he said.

Hackathon to draw more ideas for eGov

On Tuesday, the DICT challenged hackathon participants to create practical tools that can simplify government transactions, improve coordination among agencies, and provide faster and more responsive public services.

To date, some 1,300 government systems have been integrated into the eGov platform. DICT Secretary Henry Aguda said transactions on the eGov PH app have reached 900,000 daily.

‘But we have a long way to go to improve. In the spirit of digital bayanihan, let us all work together to improve government services,’ Aguda said.

Data presented at the hackathon showed the eGov PH app has logged more than 61 million total downloads, while digital national identification transactions have surpassed 300 million-alongside 92 million digital national IDs issued.

The government’s paperless push has likewise recorded over 950 million eGovDX transactions, 36 million issued digital documents, and 48 million e-signatures, while 95 percent of tax payments and 97 percent of customs payments are now made online.

Philippine Airlines (PAL) said on Tuesday it will acquire 15 Boeing 787-10 Dreamliner aircraft-its first order from the American planemaker in nearly two decades-as the flag carrier moves to renew its widebody fleet and expand long-haul operations.

The flag carrier signed a memorandum of understanding with Boeing for the fuel-efficient jets, with purchase rights for five more, during the Farnborough International Airshow in the United Kingdom. Deliveries are expected between 2031 and 2034, with the first aircraft arriving in 2031.

Similarly, PAL tapped GE Aerospace to supply the GEnx-1B engines that will power the new fleet, covering the 15 firm orders and the five optional aircraft. ‘This investment manifests our confidence in the future of Philippine Airlines and the continued growth of air travel,’ said Lucio C. Tan III, president and chief operating officer of PAL Holdings Inc., adding that the 787-10 will strengthen the carrier’s medium- and long-haul fleet while supporting its sustainability goals. The order ends a 19-year gap since PAL last bought Boeing aircraft, and coincides with the 80th year of the airline’s partnership with the manufacturer. PAL remains the only Philippine carrier flying Boeing jets for commercial passenger service.

Boeing Commercial Airplanes President and CEO Stephanie Pope said the deal deepens a partnership spanning eight decades, with the manufacturer set to deliver ‘advanced-technology airplanes’ connecting the Philippines to Asia and beyond.

Tan said the carrier is confident the GEnx engines will deliver the performance needed as PAL expands its international network.

Passengers on the new jets can expect larger windows, higher cabin humidity, quieter interiors, and the airline’s latest-generation cabin products.

Last month, PAL announced that it will resume operating nonstop flights between Manila and Dubai beginning October 2.

The flag carrier will initially operate four weekly flights between Manila and Dubai, restoring direct air links between the Philippines and one of the Middle East’s most important commercial and travel gateways. PAL plans to progressively increase frequencies back to daily service as operational considerations allow.

The resumption of Dubai flights will strengthen connectivity for overseas Filipinos, business travelers, tourists, and cargo customers traveling between the Philippines and the United Arab Emirates. Dubai also serves as an important gateway to destinations across the Middle East, Africa, and Europe.

The restoration of nonstop services also comes as travel between the Philippines and the United Arab Emirates becomes more convenient for many Filipino travelers. Eligible Filipino passport holders may now obtain a visa-on-arrival in the UAE if they hold a valid visa, residence permit, or Green Card issued by the United States, the European Union/Schengen Area, Australia, Japan, Singapore, South Korea, Canada, or New Zealand.

Meralco refused to become victim of upset-conscious Blackwater in the ongoing Season 50 Philippine Basketball Association Governors’ Cup.

Chris Newsome uncontestedly made the go-ahead basket off Chris Banchero’s assist just 3.6 ticks left on the way to Meralco’s narrow 116-114 victory over Blackwater on Tuesday for back-to-back triumphs at the Ynares Sports Center in Antipolo City.

It was Meralco’s second win after three games.

After RK Ilagan’s back-to-back baskets including a tough layup and a game-tying basket with 1:31 left in the game, Ilagan tried his best to save his team after Newsome’s basket but his effort came to naught as the ball hit his foot upon dribble that cost them the game as time expired.

Antonio Hester piled up 25 points to lead the Bolts, who drew 16 points each from Newsome and Banchero.

Sedrick Barefield posted 29 points and Kentrell Barkley got 28 points and 10 rebounds, and Ilagan added 20 points, four rebounds and four assists to lead the Bossing, who fell to 2-1 record.

Although the defense panel acknowledged on Tuesday that they were surprised by the early ‘decision’ on certain requests for subpoenas – specifically those seeking the bank accounts, tax records, and business documents of Vice President Sara Duterte, her husband Manases ‘Mans’ Carpio, and entities allegedly linked to them – they nonetheless affirmed their respect for the impeachment court’s resolution.

Reacting to the statement made by impeachment court spokesperson Regie Tongol who claimed that major parts of the decision on the issuance of subpoenas was already done before the start of the trial on July 6, defense counsel Michael Poa said that they take the decision as it is.

Poa, however, stressed that the senator-judges may have already studied their positions, but allowed the defense panel to present their side to the public on why they strongly object the granting of subpoenas if the decision could somehow be changed. The decision was read by presiding officer Francis ‘Chiz’ Escudero on Monday.

‘Actually, nagulat din ako nung nabasa ko ang statement based sa interview sa spokesman ng impeachment court. I don’t want to cast aspersion, maaari kasing maraming dahilan at kailangan lang ng oral argument, maaari din nung Wednesday ay may pag uusap na mahirap kasi mag speculate,’ Poa said in a press briefing before the start eight day of impeachment trial.

‘I don’t really want to read too much into it. I will be lying here if I said we are not surprised but we should not cast aspersions on the court. The court has already made a ruling,’ he said.

He added that they are prepared to answer whatever documents are presented and that they only oppose when they believe the request is overbroad.

‘That’s why we have to point that out in an oral argument,’ Poa said.

Following the decision, the defense panel on Monday said that they fully submit to the decision of the Senate sitting as an impeachment court, granting the request of the House prosecution to open the accounts of Duterte and Carpio.

‘We fully submit to the decision of the impeachment court, without prejudice to legal remedies available under the law,’ Poa said in a press briefing on Monday night after the trial adjourned, adding that they did not consider the decision as a major setback.

Following the decision, Poa said that they will consult Duterte on their legal moves but cited that they are considering filing a motion for reconsideration or going to the Supreme Court as one of their options.

TOURISM stakeholders are ‘cautiously optimistic’ about the Philippines’s visitor arrivals this year, and suggest that government strengthen its marketing tack overseas to sustain the country’s current inbound growth.

In a Viber message, Tourism Congress of the Philippines (TCP) president James Montenegro told the BusinessMirror, ‘The latest figures are encouraging and provide reason for cautious optimism that the Philippines can surpass last year’s international visitor arrivals if the current momentum continues. However, sustaining that growth will require a deliberate strategy to expand demand beyond our traditional source markets.’

In the first half of 2026, the Philippines welcomed 3.16 million tourists from abroad, up 5.4 percent, year on year (yoy). While the United States and South Korea provided the bulk of arrivals, a surge in tourists from China and India, now with visa-free entry privileges, also helped lift the headcountThe same was echoed by the Philippines Hotel Owners Association’s executive director Benito C. Bengzon Jr. ‘We maintain a cautiously optimistic outlook regarding the Philippines’s tourism performance and our ability to surpass last year’s inbound arrival numbers-even as the Department of Tourism (DOT) recalibrates its targets. While geopolitical developments such as Middle East tensions remain a major concern, they have not noticeably affected current arrival figures,’ he said.

‘Still far from recovery’

He added, ‘We believe it is difficult to speak of a full recovery until our inbound tourist arrivals return to prepandemic 2019 baseline levels, when foreign arrivals reached over 8.2 million. Reaching or slightly exceeding recent interim figures is a step in the right direction, but full recovery requires rebuilding sustainable volume across all key international source markets.’

He underscored the importance of regular dialogue between government and the private sector ‘so agreements on strategic directors are reached.’

The Philippines welcomed 5.9 million foreign tourists last year, unchanged from the arrivals in 2024, based on data collected by the DOT via government’s e-travel forms. Under its budget allocation this year, the agency is committed to attract 6.7 million inbound tourists.

For Montenegro, increased promotions in the United States, Canada, and Australia will expand awareness of the Philippines. ‘These are high-value markets that are less dependent on Middle Eastern airline connectivity and have consistently shown strong potential for the Philippines. [Also,] a stronger, coordinated marketing campaign should position Boracay, Cebu, and Palawan as premier resort destinations that can compete with the best in the [Asian] region.’

Other tourism leaders have also suggested marketing Philippine destinations further in other long-haul markets such as the United Kingdom, Europe, and Scandinavian countries, which have alternative routes to Asia instead of going through the Middle East, although the latter’s airspace troubles appear to have eased.

Challenging air connectivity

Despite the sharp increases in arrivals from China and India, the TCP official said the liberalization of visa policies will not deliver the sustained growth in foreign visitors. ‘Air connectivity remains the single biggest structural constraint to Philippine tourism. We continue to lose market share to neighboring destinations because they have invested aggressively in international gateways and direct air services. Bali, for example, now attracts more international visitors than the entire Philippines-clear evidence of what is possible when connectivity, infrastructure, and destination marketing are aligned.’ Montenegro suggested that a national strategy be adopted to attract more international airlines and encourage existing carriers to expand their services. ‘This should include route development incentives, marketing partnerships, and support for airlines launching direct services to our major tourism gateways such as Cebu, Boracay [via Caticlan or Kalibo], and Palawan.’

He also expressed optimism that arrivals from Taiwan will likely reach ‘300,000’ this year, judging from the current momentum in growth. From January to June this year, tourist from Taiwan grew by 11.85 percent yoy to 111,134.

With Taiwan’s recent decision to extend the visa-free privilege for Filipinos until July 2027, the Philippines has also reciprocated by extending the same policy to Taiwanese visitors until June 30, 2027.

The Philippine Stock Exchange Inc. (PSE), the operator of the equities trading market, has implemented a number of changes related to its rules for inclusion in its 30-company benchmark PSE index (PSEi).

Some of the changes include the adoption of a 98-percent market capitalization threshold system and exemption to the minimum float requirement.

‘The changes are part of the exchange’s initiatives to ensure that the PSE indices remain aligned with global standards and responsive to evolving market needs,’ the PSE said in a memorandum it released on Tuesday.

These changes are scheduled to take effect during the February 2027 index rebalancing period.

One of the major changes is to include only companies that fall within the top 98 percent of the cumulative total market capitalization in the PSEi, PSE Dividend Yield, PSE MidCap and sector indices. The said rule is an added criteria for index inclusion.

The PSEi is composed of a fixed basket of 30 companies. The selection is based on a specific set of criteria set by the bourse. The PSEi measures the relative changes in the free float-adjusted market capitalization of the 30 largest and most active common stocks listed at the PSE.

By gauging changes in the stock prices of select listed companies, the PSEi provides a snapshot of the market’s overall condition.

The last time the liquidity criteria was tweaked was in April 2011.

The PSE is also implementing the Median Trading Activity Ratio (MTAR) and Monthly Average Daily Value Turnover (MADV) as new liquidity measures, to determine the tradability of shares.

The MTAR is the 12-month cumulative sum of the monthly trading activity ratios. Each monthly trading activity ratio shall be calculated by multiplying the median daily value traded by the number of days the security was traded during the month, with the resulting product divided by the company’s free-float market capitalization as of the end of that month.

To become eligible for the main index, a company must have an MTAR of 15 percent.

The MDAV, meanwhile, is the total value traded during the month by the number of trading days in the month.

Previously, liquidity is assessed based on median daily trading value during each month of the 12-month review period.

The PSE is also introducing an exception to the minimum free float requirement, as it prepare for the entry of GCash parent Mynt Inc. into the main index. The PSE will reduce minimum ownership to 15 percent from 20 percent, but only for companies with a market capitalization of at least P250 billion, provided all other index inclusion criteria are satisfied.

Mynt is set to go public in October this year.

Indian consumer goods firm Wipro Consumer Care International (WCCI) expects to complete its acquisition of Philippine personal care company S Brands Consumer Care Inc. by August, while keeping the business’ local manufacturing and operations largely unchanged.

WCCI signed a definitive agreement to acquire 100 percent of S Brands, although the company declined to disclose the transaction value.

WCCI Chief Operating Officer Nagender Arya said the company expects to finalize the purchase of the firm within the next few weeks after completing most of the regulatory and procedural requirements.

‘Our aim is to close it in August,’ Arya told reporters on Tuesday. ‘I think we have passed some of those steps. There will be some more formality. But I think we are on track to do closing… in a few weeks’ time.’

The acquisition marks WCCI’s second major investment in the Philippine personal care industry after acquiring Splash Corp. in 2019, whose portfolio includes brands, such as SkinWhite, Maxi-Peel and Vitress.

Meanwhile, S Brands owns several personal care brands in the Philippines, including KERATINplus, AlcoPlus, DeoPlus, Empress, Grips and Fiona Cologne.

Following the acquisition, S Brands founder and CEO Dick Sy Ong will remain involved as an adviser, while WCCI CEO Amit Dawn will assume leadership of the business.

Arya said the rest of S Brands’ operations will continue largely unchanged. ‘The rest of the team and the business will continue as it is. We are not expecting major changes,’

The company also confirmed that S Brands’ products will continue to be manufactured in the Philippines, with Dawn saying the company also intends to retain S Brands’ existing distribution and sales network.

‘In terms of where the products are manufactured, where we sell, who is selling them, who is distributing them, I think everything continues to be the same,’ he said.

Expansion plans

The company plans to expand the product offerings of both businesses by introducing additional brands and product categories into the Philippine market.

‘Some of our initial investment will be how do you strengthen them further? Can I bring more brands using these two companies? Can I bring in more product categories in the Philippines using these?’ Arya said.

He added that while WCCI remains open to future acquisitions, the company does not expect to pursue another deal in the next one to two years.

‘If there is an opportunity of a category which we don’t have today, or we don’t have a skill set, then obviously we can look at more acquisitions. But immediately in the next one to two years, if we are able to build these two companies and the brands, I think that will be our priority,’ he said.

WCCI is the international fast-moving consumer goods arm of Wipro Enterprises, generating annual global revenues exceeding $1.2 billion.

The company, which started in 2003, now operates in more than 60 markets, has a presence across 18 countries, manages a portfolio of more than 37 brands, and runs 17 manufacturing facilities and 11 research and development centers.