Category: Business Mirror

THE government is reviving the P90-billion Parañaque Spillway Project to provide additional drainage for Laguna de Bay as another planned flood-control project is expected to divert more water into the lake.

The Department of Agriculture (DA) and Laguna Lake Development Authority (LLDA) said the long-delayed project could also improve water circulation, support fisheries production and strengthen the lake’s role as a freshwater source.

First proposed in the 1970s, the 10.5-kilometer spillway would run at least 50 meters underground and connect Laguna de Bay to Manila Bay.

Construction is expected to take at least a decade once the project begins.

LLDA General Manager Leopoldo Parumog said the spillway has become more critical with the planned Manggahan Control Gate Structure, which would divert floodwater from the Marikina River into Laguna de Bay.

The Japanese-funded Manggahan project is designed to divert up to 2,400 cubic meters of floodwater per second to help reduce severe flooding in Metro Manila.

That volume is equivalent to about one Olympic-size swimming pool being discharged into the lake every second, according to the DA.

While the Manggahan project would reduce flooding along the Marikina River, the additional water could raise Laguna de Bay levels and increase flood risks in lakeshore communities unless more drainage capacity is built.

Agriculture Secretary Francisco P. Tiu Laurel Jr. said better water circulation and flood management could also help restore the lake’s ecological condition.

‘Laguna de Bay is one of Metro Manila’s most important food baskets and our most affordable source of bangus [milkfish],’ Tiu Laurel said.

‘If we restore the lake’s health by improving water circulation and managing floods better, we can raise fish production, increase fisherfolk incomes, and improve raw water quality, which could eventually help lower water treatment costs for consumers,’ he added.

The project, however, has faced concerns from residents of Muntinlupa City and Bacoor City over possible displacement and the risk of shifting flood problems from one area to another.

Muntinlupa is where the tunnel would draw water from Laguna de Bay, while Bacoor is where excess water would be discharged into Manila Bay.

Tiu Laurel said the DA and LLDA would work with the Department of Public Works and Highways, Department of Environment and Natural Resources, local governments and private stakeholders to address these concerns.

‘The challenge is to show that this is not simply another flood-control project,’ he said. ‘Done right, it is an investment in food security, climate resilience, and long-term water sustainability that will benefit millions of Filipinos.’

Maynilad Water Services Inc. already taps Laguna Lake as a raw water source for millions of customers in Metro Manila and Cavite, including Muntinlupa and Bacoor.

The DA said improving water circulation and reducing pollution buildup could improve raw water quality and eventually lower treatment costs.

Mountain Dew’s ‘DEW It sa Pista: Sugod-Fiesta Edition’ celebrates the tradition that turns every handaan into a barangay-wide feast.

When fiesta season arrives in Bacolod, the celebration stretches far beyond the streets.

Yes, there are parades, performances, and plenty of chicken inasal. But for many Negrenses, the real celebration happens at home. During fiesta season, families throw their doors open to relatives, neighbors, friends, and even first-time visitors. It’s not unusual to be invited in for a plate of food, a cold drink, and a few stories around the table.

It’s this uniquely Filipino tradition of welcoming guests into one’s home that Mountain Dew celebrates in its latest creator campaign, DEW It sa Pista: Sugod-Fiesta Edition.

Set during the Bacolod Chicken Inasal Festival, the campaign follows food creator Ninong Ry alongside ‘Barangay Captain’ Nisa Nuggets, River Joseph, and Dustin Yu, a.k.a. the Tropang DEWds, as they trade the usual festival route for something more personal: real Bacolod homes.

Instead of simply sampling festival favorites, the Tropang DEWds experienced Bacolod’s house-to-house fiesta tradition firsthand. They shared home-cooked meals with Negrense families, heard the stories behind each handaan, and discovered how one family’s dining table can quickly become a gathering place for the entire barangay.

Watch the full DEW It sa Pista: Sugod-Fiesta Edition on Mountain Dew Philippines’ official social media channels and discover why, in Bacolod, every handaan has room for one more.

LONG-RUNNING labor concerns in electric cooperatives will now be handled through a permanent tripartite mechanism after workers, employers and the Department of Labor and Employment (DOLE) agreed to create a sector-specific council.

The National Tripartite Industrial Peace Council (NTIPC) approved the establishment of the Electric Cooperative Industry Tripartite Council (ECITC), which will serve as a continuing venue for addressing labor and employment issues in the sector.

Labor Secretary Francis N. Tolentino said concerns involving the National Electrification Administration (NEA) and electric cooperative workers have persisted for around a decade.

‘This matter has been going on for ten years,’ Tolentino said in Filipino.

The creation of the council followed a recent dialogue between the labor department and NEA over concerns affecting the implementation of collective bargaining agreements (CBAs) in electric cooperatives.

Tolentino said discussions should balance the financial condition of cooperatives with the right of workers to organize and negotiate collectively.

‘NEA has the right to balance its books, but electric cooperative workers also have the right to form unions and negotiate with them,’ he said.

The new council will bring together representatives of government, labor and management to discuss sector-wide concerns and seek agreements before disputes escalate.

It will also serve as a continuing forum for consultation and consensus-building on labor-management relations, including issues surrounding the implementation of CBAs.

The initiative builds on earlier efforts by labor and energy authorities to improve collective bargaining in electric cooperatives, including capacity-building activities for union and management representatives.

DOLE and NEA signed an agreement in 2024 aimed at strengthening collective bargaining in the sector, followed by training activities on CBA negotiations and implementation involving the National Conciliation and Mediation Board (NCMB).

Tolentino said the tripartite approach is intended to find common ground among parties rather than require one sector to adopt the position of another, as the government seeks to prevent recurring labor disputes while protecting both workers’ rights and the viability of electric cooperatives.

As LANDBANK celebrates its 63rd anniversary, the Bank continues to earn prestigious international and local recognition for advancing financial inclusion, digital transformation, sustainable finance, and nation-building.

Global Banking and Digital Leadership

Among its most notable distinctions, LANDBANK was named Philippines’ Best Retail Bank at the prestigious Euromoney Awards for Excellence, one of the banking industry’s most respected awards programs.

The recognition affirms LANDBANK’s continued efforts to make banking more accessible, affordable, and convenient for millions of Filipinos. Through innovations such as zero-fee government payment transactions, free InstaPay fund transfers, the LANDBANK Mobile Banking App, and the LANDBANKasama program, the Bank has helped bring financial services closer to underserved and remote communities while driving broader adoption of digital payments nationwide.

LANDBANK also played a key role in the government’s fuel subsidy and targeted cash assistance programs, leveraging its extensive network and digital capabilities to efficiently deliver financial support to priority sectors.

Further underscoring its digital leadership, the International Finance Awards recognized LANDBANK for Fastest Growing Digital Banking Services in the Philippines for 2026, highlighting its commitment to delivering secure, convenient, and customer-centered banking solutions.

‘These recognitions affirm LANDBANK’s vital role in advancing financial inclusion, supporting key sectors of the economy, and helping drive the National Government’s agenda for inclusive and sustainable growth. As the Bank marks its 63rd anniversary, these recognitions inspire us to build on this momentum by delivering greater value to the Filipino people through responsive, innovative, and development-oriented banking,’ Finance Secretary and LANDBANK Chair Frederick D. Go said.

Development Banking Leadership

LANDBANK’s development-focused initiatives likewise gained global recognition. At the Global Banking and Finance Review Awards, LANDBANK was named Best Development Bank and Best Agri Business Bank in the Philippines, affirming its leadership in supporting sectors that drive countryside development and economic growth. LANDBANK President and CEO Lynette V. Ortiz was likewise recognized as the country’s Banking CEO of the Year.

Meanwhile, the Pan Finance Awards honored LANDBANK as Most Innovative Rural Development Bank and Agricultural Financing Partner of the Year, recognizing the Bank’s sustained support for farmers, fishers, agrarian reform beneficiaries (ARBs), micro, small and medium enterprises (MSMEs), and local government units (LGUs).

Through programs such as AGRISENSO Plus, ASCEND, and LIFTING MSMEs, the Bank continues to expand access to financing that helps farmers, fishers, and entrepreneurs grow their businesses and participate more actively in the formal economy.

Further affirming her leadership in advancing LANDBANK’s development mandate, Ortiz was recognized by the International Finance Awards as Best Woman CEO in Banking in the Philippines for 2026.

‘These recognitions belong to every LANDBANKer whose hard work and dedication bring our mission to life each day. They affirm that our efforts to deliver accessible and inclusive financial services are creating real value for the Filipinos and communities we serve. As we mark 63 years, we remain committed to empowering communities and enabling opportunities that help build a better future for every Filipino,’ said LANDBANK President and CEO Ortiz.

Sustainable Finance Leadership

Beyond financial inclusion and development banking, LANDBANK also gained international recognition for supporting the country’s sustainability agenda. At The Asset Triple A Sustainable Finance Awards, the Bank received the Renewable Energy Deal of the Year – Hydro award for its role in financing major renewable energy projects that strengthen energy security, enhance grid reliability, and support the country’s clean energy transition.

LANDBANK’s renewable energy portfolio includes financing for Prime Infrastructure Capital Inc.’s sustainability initiatives, Citicore Renewable Energy Corporation’s solar power and battery energy storage projects, and an ?800-million facility for Archipelago Renewables Corporation (ARC) to deploy hybrid renewable energy-powered microgrids in underserved communities in Palawan. These investments expand access to cleaner, more reliable energy while advancing the country’s long-term energy security and sustainability goals.

Advancing Nation-Building

Taken together, these honors affirm a development mandate that has guided LANDBANK for more than six decades – one measured not in industry recognition alone, but in the farmers financed, the communities reached, and the opportunities opened for ordinary Filipinos.

As it marks 63 years of service, LANDBANK remains steadfast in driving innovation, sustainability, and customer-centered banking – helping build a more inclusive, resilient, and prosperous Philippines.

Globe Telecom Inc. expects the momentum of its core telecommunications business to carry into the second half and lift its full-year bottom line, after reported earnings fell 11 percent in the first six months of 2026.

In a press briefing on Monday, Globe CFO Carlo Puno said the Ayala-led telco is confident that the second half would offset the first-half decline.

‘We are very much optimistic about the balance of the year given the very good performance of the core telco business in the first half of 2026,’ Puno said. ‘We do believe we should be able to leverage all of the momentum that we delivered in the first half to be able to turn that into upside to the second half of 2026, which should help buoy the bottom-line performance from a full-year perspective.’

Globe’s reported net income after tax slipped 11 percent to P11 billion in the six months to June 2026 from P12.4 billion a year earlier, according to its disclosure to the Philippine Stock Exchange (PSE).

The company traced the decline mainly to a smaller net gain from the dilution of its stake in Mynt Inc., the parent firm behind mobile wallet GCash, alongside higher non-operating charges.

Core net income-which excludes foreign exchange movements and mark-to-market adjustments-stood at P10.2 billion, down 2 percent year-on-year, a far narrower drop that management has pointed to as the truer measure of the business.

Pressed on how macroeconomic conditions and external issues would shape the full-year result, Puno declined to give a figure but said the first-half showing of the core business gave management reason to expect a positive impact on full-year profit.

‘Despite all of the macroeconomic headwinds we faced in the first half of 2026, you saw our core telco business perform quite well. We do believe that we should be able to actually leverage this and to be able to carry this momentum in the second half of 2026 – thereby being able to potentially impact positively the bottom line of full year.’

For Globe President Carl Cruz, the priority for the rest of the year is turning network and platform spending into revenue.

‘Monetization remains very, very important, and this is a key focus area for everyone at Globe in the second half of the year,’ Cruz said.

He said the company’s priorities are to strengthen monetization, deepen customer engagement, and expand the reach and quality of its network and digital platforms.

‘We will stay disciplined in capital allocation, focused in execution, and committed to delivering long-term value for our customers, shareholders, and, of course, the communities that we serve.’

THE Marcos administration has identified 33 priority measures for passage under its updated legislative agenda, including proposals aimed at strengthening governance and supporting economic growth.

The Department of Economy, Planning, and Development (DepDev) confirmed that the measures form part of the reprioritized Common Legislative Agenda (CLA) approved by the Legislative-Executive Development Advisory Council (Ledac) during its fourth meeting under the 20th Congress last week.

The reprioritization comes as only two of the 53 measures earlier endorsed by Ledac have been enacted into law a year into the 20th Congress.

The meeting, presided over by President Ferdinand Marcos Jr., grouped the priority measures under four areas: governance and anti-corruption reforms; economic growth and resilience; energy security and sustainability; and education, health, and social protection.

Among the measures endorsed for priority passage are the proposed Anti-Political Dynasty Law and amendments to the Party-List System Act, which the government said are intended to strengthen accountability and representation in public office.

Economic measures, meanwhile, include the proposed Promoting Growth, Revenue, and Equity towards Socioeconomic Sustainability (Progress) bill, which seeks to reduce income taxes to raise workers’ take-home pay and provide tax relief to micro and small enterprises.

The council also included the proposed General Tax Amnesty and the abolition of the travel tax in its priority list.

DepDev Secretary and Ledac Secretariat Head Arsenio M. Balisacan said the revised legislative agenda was intended to focus on measures that could have a direct impact on households and businesses.

‘The reprioritized CLA reflects the Administration’s focus on reforms that Filipino families can actually feel in their daily lives: lower costs, better services, stronger livelihoods, and more opportunities to get ahead,’ Balisacan said.

Energy, social measures

Several energy-related proposals were also included in the agenda, including the amendments to the Electric Power Industry Reform Act (Epira).

Under the proposed changes, system loss charges and the corresponding value-added tax (VAT) would no longer be passed on to electricity consumers.

The amendments would also seek to strengthen the Energy Regulatory Commission (ERC)’s authority over the power sector, with the government citing the need for stronger competition and greater transparency in electricity pricing.

Another priority measure, the proposed Sariling Kuryente Act, would ease requirements for households seeking to install rooftop solar panels and battery storage systems.

In the social sector, the government is pushing for measures addressing malnutrition, classroom shortages, and access to basic education.

These include an Expanded National Nutrition Program covering interventions from pregnancy through adolescence, as well as the proposed Classroom-Building Acceleration Program Act and Basic Education Voucher Program Act.

Balisacan said the identification of the 33 measures would now require closer coordination between the executive branch and lawmakers to secure their passage.

‘This is an important moment to build on our economic gains and advance reforms that make our institutions more accountable, our economy more competitive, and public services more responsive,’ he also said.

Ledac, established under Republic Act 7640, serves as the President’s advisory body on priority policy and legislative matters to support long-term national development.

DepDev has served as its principal secretariat since 1992.

Motorists using the newest section of the Cavite-Laguna Expressway (Calax) began paying toll fees on Sunday, ending three months of free passage on the 7.88-kilometer stretch linking Silang (Aguinaldo) to Governor’s Drive in General Trias, Cavite.

The Toll Regulatory Board (TRB) approved the start of toll collection on Calax Subsection 3 effective August 9, following a grace period that began when the segment opened to traffic on May 4.

Motorists traversing the subsection from the Silang (Aguinaldo) Interchange to Governor’s Drive will be charged P35 for Class 1 vehicles, P70 for Class 2, and P106 for Class 3.end-to-end travel from Governor’s Drive to the Greenfield exit in Biñan, Laguna, will cost P117 for Class 1 vehicles, P234 for Class 2, and P351 for Class 3.

The three-month toll holiday drew close to 9,000 motorists daily, giving Cavite residents, workers, students, and businesses an alternative to the congested local roads serving the province’s industrial and residential corridors.

The start of collection on Subsection 3 brings the tolled length of Calax to 26 kilometers, measured from the Greenfield-Mamplasan entry in Biñan.

Calax is designed to cut travel time between Cavite and Laguna and decongest arterial roads in one of the country’s fastest-growing regions.

Once the full alignment is completed, the expressway is projected to carry up to 65,000 vehicles a day, linking Cavite, Laguna, and southern Metro Manila.

PRESIDENT Marcos will have the final say on the possible extradition to the US of cult leader Apollo Quiboloy, who is facing large-scale human trafficking charges.

In a press briefing on Monday, Palace Press Officer Claire Castro said concerned government agencies are now studying the issue and are expected to submit their recommendations soon.

‘We spoke with the President earlier, and he said that this needs to be studied carefully, but an announcement regarding his decision on the matter will be made in a couple of weeks,’ she said in Filipino.

‘He will provide instructions on what needs to be done regarding this matter,’ she added.

Castro assured that the decision of the President on the issue will go through the necessary process and will have legal basis.

The Department of Justice said it is now evaluating if there will be any legal impediment on the US request for the extradition of Quiboloy.

Castro said among the options being considered by the Marcos administration is to keep the founder of the Kingdom of Jesus Christ in the country while the hearings against him are ongoing in local courts.

The second option, she said, is for the government to temporarily suspend the said hearings and to send Quiboloy to the US.

Last week, DOJ confirmed the US government has officially requested for the extradition of Quiboloy who was indicted in California for sex trafficking of minors, visa fraud, and bulk cash smuggling in 2021.

Manila signed an Extradition Treaty with Washington in 1994.

Quiboloy also has a pending qualified human trafficking in the Regional Trial Court (RTC) in Pasig and a sexual abuse and maltreatment case in the RTC in Quezon City.

ALEX EALA’S Filipino fans in Canada have spoken, and the National Bank Open listened.

After chicken adobo made its surprise debut at Sobeys Stadium last week, organizers rolled out another heritage favorite: pork lumpia.

‘This thing is going to be legendary,’ Ashtad Dadachanji, executive chef of the NBO, who helped curate the new offering, said in NBO’s social media post.

This isn’t your everyday spring roll. Chef Ddadachanji offered it with sinamak-Iloilo’s famed spiced vinegar-then topped it with crunchy chicharron, garlic chips, peanuts, cilantro and drizzle of banana ketchup.

The inventive layering reflects a fusion of nostalgia and innovation-a courtside flavor meant to resonate as strongly as the cheers echoing from the stands.

Pork lumpia was offered Sunday (Canada time), during Eala’s match against 12th seeded Swiss veteran Belinda Bencic.

NBO food concessionaire The Changeover Kitchen prepared only 200 servings for the limited time run, priced at CAD $12 (about P522). It continued to serve chicken adobo for special price of CAD$ 17 (about P740).

With more than 200,000 kababayan in the city, their voices-and appetites-are shaping the tournament experience in real time.

Just as Eala’s matches have drawn sellout crowds, the menu is evolving to reflect the culture of those filling the seats.

Tournament director Karl Hale had earlier called the Filipino wave ‘an absolute blessing.’

With adobo and now lumpia joining courtside, the NBO is becoming a showcase not only of world-class tennis but also of Filipino flavor.

As the Philippine Retailers Association (PRA) marked its 50th anniversary, SM Retail continued to play a key role in shaping the future of the industry as the exclusive Diamond Sponsor of PRA’s 32nd National Retail Conference and Expo (NRCE) last August 6-7, 2026 at the SMX Convention Center Manila.

For SM Retail, this year’s conference theme ‘New. Next. Forward.’ mirrored its approach to retail where it champions innovation, strengthens customer experiences, and leads in shaping the future of shopping for Filipino consumers.

As one of the country’s leading retail groups, SM Retail remains committed to delivering meaningful shopping experiences while continuously evolving to meet the changing needs of Filipino consumers. Across its portfolio, SM Retail brings together some of the country’s most trusted retail brands, including SM Store, SM Markets, SM Home, SM Appliance Center, Kultura, Toy Kingdom, Baby Company, Pet Express, Sports Central, Ace Home Solutions, and more.

The SM Retail booth was voted as the Visitor’s Choice for Best Booth at the conference expo. Visitors explored engaging brand showcases, and the latest innovations from across the company’s portfolio. The space highlighted how SM Retail’s diverse business units continue to evolve through new store concepts, curated product offerings, digital engagement initiatives, and customer-focused experiences. Visitors also played the interactive digital games made possible by SMAC, SM’s loyalty membership program

A highlight of this year’s event was the fireside conversation featuring Teresita Sy-Coson, Vice Chairperson of SM Investments Corporation, moderated by Steven Tan, President of SM Supermalls. The conversation offered attendees a closer look at the leadership values, strategic decisions, and customer-first mindset that built one of the Philippines’ most recognized business groups.

As PRA celebrated five decades of advancing Philippine retail, SM Retail proudly supported the industry’s continued transformation by helping define what’s new, what’s next, and what moves retail forward.