Category: Business Mirror

For more than a decade, TheBrandUSA.com has been where the U.S. travel industry, media, and government stakeholders go to find the data and programs behind Brand USA’s work.

Brand USA, the destination marketing organization for the United States, has announced the launch of a rebuilt and reorganized corporate website that puts economic impact data, partner program information, industry resources, and a redesigned press room within easier reach of everyone who relies on them – no login required.

‘Partners rely on us for fast, accurate answers, whether that’s finding the right program, accessing the right resources, or connecting with our team, and these new platforms make it easier for them to find what they need and engage with Brand USA,’ said Fred Dixon, president and CEO of Brand USA.’ At the same time, media, lawmakers, and other stakeholders will have easier access to the information and insights that demonstrate the value of international travel to the U.S. economy and communities across the country.’

TheBrandUSA.com is designed around how partners, media, and travel industry professionals look for information, with a personalized search tool that connects visitors to relevant programs and resources based on their needs.

What’s New

Economic impact data built for citation and sharing. Economic impact figures and state-by-state fact sheets are now consolidated in one place, formatted for destinations to share directly with governors’ offices, boards, and congressional delegations.

A press room built around how journalists work. A filterable press release and news archive, with media assets available alongside written content.

A clearer view into Brand USA’s partner programs. A filterable list of all partner programs, paired with a Getting Started guide explaining what Brand USA does, who partners with the organization, and how to get involved.

One calendar. Roadshows, sales missions, USA Pavilions, webinars, and board meetings now live in a single calendar that can be filtered by type, market, and date.

Practical AI education for the industry. AI webinars, past recordings, articles, and training resources are now in one place, helping partners build the practical AI fluency they need as the industry evolves.

Alongside the public site, Brand USA also updated its Partner Success Portal, which brings program resources, research, and account tools into one place for partner organizations, consolidating information that previously lived across multiple systems.

WHILE analysts expect the general increase in the prices of goods and services to have slightly eased in August, they warn inflation remains elevated and its rate and pace vulnerable to shocks from El Niño and the Middle East conflict.

In separate commentaries, analysts’ estimates pointed to lower headline inflation for August compared to the 6.2 percent in July while one economist said it likely remained unchanged as the recent monsoon rains may have disrupted the supply of agricultural products, putting upward pressure on food prices.

Domini S. Velasquez, Group Chief Economist at China Banking Corp. (Chinabank), said ‘headline inflation likely held at 6.2 percent in August, unchanged from July.’

‘Price pressures were likely driven by higher prices of key food items, including rice, corn, fish, vegetables, fruits, eggs, and cooking oil, with more than two weeks of steady rainfall disrupting agricultural supply and pushing up prices of some food items,’ Velasquez said.

She said higher fuel and LPG prices amid persistent Middle East tensions also added to price pressures.

However, Velasquez said these were ‘partly offset’ by lower electricity rates in Meralco-serviced areas and softer meat prices.

Meanwhile, Velasquez said core inflation likely eased for a second straight month to 4 percent from 4.2 percent in July, suggesting that ‘underlying price pressures are gradually moderating.’

Bank of the Philippine Islands (BPI) Lead Economist Emilio S. Neri Jr. said the bank’s forecast for August inflation is 6.1 percent.

‘Selected food items like vegetables and fish, together with pump prices likely kept [consumer price index] CPI near 6 percent,’ added Neri.

He said this should explain why the Bangko Sentral ng Pilipinas (BSP) had to hike the key interest rate on August 27 even if growth remains a ‘serious concern.’

Union Bank of the Philippines (UBP), in its latest ‘MktsFocUs’ report, said it sees inflation in August at 6.1 percent.

‘August inflation above 6 percent year-on-year (YoY) would likely reflect weather-related supply disruptions, flooding-induced logistics bottlenecks, elevated oil prices, a weaker peso, and ongoing cost pass-through,’ the bank said in its report published over the weekend.

In its commentary over the weekend, ANZ Research said it expects headline inflation to have moderated to 6 percent in August from 6.2 percent in July.

‘Transportation inflation likely eased compared to July, but it is expected to have remained elevated on an annual basis. Food inflation continued to edge higher on the back of rising rice prices,’ added ANZ Research.

Jonathan L. Ravelas, senior adviser at Reyes Tacandong and Co., said August inflation is seen to ‘moderate to 6.1 percent.’

Ravelas said this suggests that earlier monetary tightening and improving supply conditions are ‘gradually gaining traction.’

‘The encouraging news is that inflation appears to be moving in the right direction, providing some relief to consumers and businesses,’ he said.

Inflation battle

HOWEVER, the foreign exchange analyst said at 6.1 percent, inflation remains well above the central bank’s target range, indicating that price pressures are still elevated and the fight against inflation is ‘far from over.’

‘More importantly, while inflation may ease in the near term, the combined impact of the recent wage hike, the potential effects of El Niño on food supply, and ongoing geopolitical tensions in the Middle East and the Russia-Ukraine conflict could pose upside risks to inflation in the coming months,’ Ravelas said.

These factors, he emphasized, could keep inflation elevated and may require the BSP to maintain a ‘hawkish stance’ or even consider further monetary tightening if needed to anchor inflation expectations.

As such, Ravelas said the key challenge is to ensure that the current downtrend becomes ‘sustainable’ so that purchasing power recovers without reigniting inflationary pressures.

Velasquez shared the same view saying upside risks remain significant, particularly from elevated oil prices, a prolonged El Niño episode that could disrupt agricultural output, and the potential pass-through of higher minimum wages to consumer prices.

Inflation is likely to remain elevated for the rest of the year and could accelerate further in the fourth quarter, she added.

However, given that much of the remaining inflationary pressure is ‘supply-driven,’ the group chief economist of Chinabank said further monetary tightening would have ‘limited effect’ in bringing inflation back to the BSP’s 2-percent to 4-percent target band this year.

‘For 2027, we are less pessimistic than the BSP, expecting inflation to moderate toward 4 percent, as lukewarm domestic demand should help contain underlying price pressures,’ Velasquez added.

Neri also noted that inflation will likely remain a challenge for the rest of the year, adding that BSP may have to keep a ‘tightening bias.’

ANZ Research said going forward, inflation is expected to moderate but remain well above the central bank’s target range.

‘Further upside pressure to inflation could arise if El Niño drives up food prices,’ added ANZ Research.

But ANZ Research expects the BSP to hold the policy rate steady in its meeting in October and raise the key interest rate anew in December in response to El Niño effects.

For its part, Citi said an October hike is possible only if August and September inflation readings ‘do surprise significantly to the upside.’

‘Apart from being due to El Niño related surprises, diesel prices could also rebound. And along with PHP trade-weighted depreciation, this could reactivate core inflation,’ Citi said in a commentary issued over the weekend.

Conversely, it said the risk scenario of there being no hike in December could materialize if the El Niño impact on food prices up to November turns out ‘significantly milder’ compared to BSP’s expectation.

While the MB opted for a preemptive policy move during its August 27 rate-setting meeting, it revised downwards its inflation forecast for 2026 to 6.1 percent from its 6.4 percent forecast during its June 18 policy meeting.

However, it raised its inflation forecast to 5.4 percent for 2027, compared to its 4.5 percent forecast last June 18.

According to BSP Assistant Governor for Monetary Policy Sub-Sector Rogelio V. Mercado Jr., ‘the 6.1 percent inflation is of course driven by lower-than-expected inflation in June and July, as well as declining oil prices.’

The central bank, in a statement released over the weekend, said it is looking at a 5.5 to 6.5 percent inflation forecast range for August as it gauges how recent weather disturbances alongside the elevated fuel costs weighed on the prices of food.

‘Upward price pressures for the month are likely to be driven by higher rice, vegetable, fruit, and fish prices, partly due to unfavorable weather conditions, and elevated domestic fuel costs,’ the BSP said.

However, the central bank explained that upward pressures are expected to be mitigated by lower prices of meat, as well as lower electricity rates and the peso appreciation.

Alliance Global Group Inc. (AGI) signed a power supply deal with the First Gen Group (First Gen) for over 25 megawatts (MW) of renewable energy (RE) to power needs of the latter’s key properties and facilities in Metro Manila, Iloilo and Davao.

AGI facilities covered by the agreement include Megaworld township developments in Taguig City; the Venice Grand Canal Mall in McKinley Hill also in Taguig; the ArcoVia City in Pasig City; Richmonde Hotel Tower-Iloilo in Iloilo City; the Davao Finance Center in Davao City; and the Emperador Distillers plants in Santa Rosa and Biñan in Laguna.

The agreement was signed last August 13 by representatives of AGI and First Gen, the Lopez-led firm said over the weekend.

‘Electricity usage comprises a significant portion of conglomerate-wide carbon emissions. Our ability to harness more renewable energy to support our operations without compromising efficiency or service delivery will greatly reduce our carbon footprint and help us get closer to our goal of achieving carbon net zero,’ said Arnulfo Batac, head of sustainability of Megaworld Corp. AGI’s shift to RE is part of the conglomerate’s sustainable development goals, which include scaling RE usage to achieve carbon neutrality by 2035.

First Gen will source the RE supply from its Bacon-Manito geothermal facilities in Albay and Sorsogon.

‘It is always an honor and privilege to partner with like-minded organizations like AGI who are conscious of how their businesses impact people, communities and the environment. Transitioning to geothermal energy, the only RE source that can run baseload capacity, is not just a cost optimization measure, but also a means to manage risk and to do something good for the planet,’ said First Gen Chief Customer Engagement Officer Carlo Vega.

Since its incorporation in 1993, AGI has grown into one of the Philippines’s most diversified investment holding companies with businesses spanning real estate through Megaworld, leisure and tourism through Newport World Resorts and spirits and liquor through Emperador Inc.

Meanwhile, First Gen is the leading provider of RE in the Philippines with over 1,700 MW of RE from a portfolio of 31 geothermal, hydro, wind, and solar facilities. The group is a subsidiary of diversified conglomerate First Philippine Holdings Corp.

LIKE many people, I experienced excessive hair fall during the pandemic. I tried supplements, shampoos, and home remedies but the hair fall continued.

I started going to Svenson in 2023 (or was it 2022?) and at that time, my problem was not just hair fall but seborrheic dermatitis, which I always blamed on bad shampoos, the heat, or air-conditioning.

I started going to Svenson for the Scalp Corrective Treatment, a professional, in-clinic procedure designed to deeply cleanse the scalp, remove stubborn buildup, and relieve chronic dryness, flaking, or itchiness. I’d call this a lunchtime procedure because it can be done in 30 minutes.

It took about a year for me to see benefits from the treatment. You need to have it done thrice a week. I only did it once a week but I was consistent. I never missed a week.

The process begins with a consultation, which is free. A trichologist looks at your scalp and hair strands using a microscope. She will also do a hair pull test.

Scalp Corrective Treatments begins with a shampoo. After that, your scalp is cleansed with a liquid solution after which the corrective treatment is applied.

The corrective treatment can be oil-based or alcohol-based depending on the state of your scalp and hair. In my case, I get the oil-based treatment. The cleanser and corrective treatment are applied using an airbrush tool.

For the next step, an iontophoresis device is used. The goal is for the ingredients used in the treatment to be more easily absorbed by the scalp. The next and last step is red light therapy. This takes just five minutes.

Recently, I have been doing Gen45, a new Svenson treatment that detoxifies the scalp, stimulates healthy circulation, blocks DHT (the root cause of thinning), and reinforces weak hair follicles. Gen45 also defends hair strands against UV rays, styling damage, and everyday environmental buildup.

The Gen45 tonic contains amino acids (to help hair grow back thicker, stronger, and more resilient), ginseng and burdock (which help detoxify the scalp and promote healthy growth), biotin and niacinamide (for long-term scalp health), and Saw Palmetto (to keep DHT, the root cause of thinning, in check). It also contains antioxidants to help stimulate healthy circulation.

The Gen45 procedure is much like the Scalp Corrective Treatment except that after the shampoo, the tonic is applied immediately followed by the use of the iontophoresis device and, finally, red light therapy.

Nearly a decade ago, during my term as chairman of the Professional Regulatory Board of Accountancy from 2014 to 2018, I advanced a simple but meaningful advocacy: ‘I Am Accountant.’

The statement appeared in the materials I presented to newly licensed Certified Public Accountants during the November 2017 CPA oath-taking ceremonies. It was also embodied in an inspirational video for the profession. ‘I Am Accountant’ was not intended merely as a slogan. It was a declaration of professional identity, accountability and pride.

One concrete component of my advocacy was my recommendation that duly registered and licensed accountants be authorized-and eventually required-to use the professional title ‘Accountant’ or its abbreviated form ‘Acct.’ when identifying themselves professionally.

Thus, just as a physician may be addressed as Dr. Juan de la Cruz, a lawyer as Atty. Juan de la Cruz, an engineer as Engr. Juan de la Cruz, and an architect as Ar. or Arch. Juan de la Cruz, a duly registered accountant should be entitled to identify himself or herself as: Acct. Juan de la Cruz, CPA, or Accountant Juan de la Cruz.

This will give accountants a recognizable professional identity comparable with that enjoyed by members of other regulated professions.

The titles used by other professionals immediately communicate their qualifications and responsibilities.

‘Dr.’ identifies a medical doctor or another holder of a doctorate, depending on the context. ‘Atty.’ identifies a member of the legal profession. ‘Engr.’ is commonly used by registered engineers, while ‘Ar.’ or ‘Arch.’ identifies registered architects. These titles are placed before the person’s name and have become part of how the public recognizes and addresses members of these professions.

Accountants, on the other hand, generally place the initials ‘CPA’ after their names. While CPA is a highly respected professional designation, it is not always understood by the general public in the same direct way that ‘Doctor,’ ‘Attorney,’ ‘Engineer,’ or ‘Architect’ is understood. It’s as if CPAs are embarrassed to communicate to their public that they are professionals.

The word Accountant, or the abbreviated title Acct., immediately tells the public what profession the individual belongs to.

My proposal does not seek to diminish the value of the CPA title. On the contrary, it supplements and strengthens it. ‘Acct.’ identifies the profession, while ‘CPA’ identifies the particular professional qualification and licensure of the individual.

The use of Acct. Joel L. Tan-Torres, CPA, for example, unmistakably identifies both the profession and the professional credential.

This proposal was included in the proposed revision of Republic Act 9298, or the Philippine Accountancy Act of 2004, which was prepared several years ago and submitted for consideration in Congress.

The measure, Revised Philippine Accountancy Act of 2020, was introduced through the initiative of then-Representative Juan Miguel ‘Mikey’ Macapagal-Arroyo of the Second District of Pampanga during the 18th Congress. The proposed legislation sought broader structural reforms in the regulation of accountancy, including the creation of an Accountancy Regulatory Office, changes in the composition and functions of the Board of Accountancy, and recognition of different categories of licensed accountants.

Significantly, Section 16 of the proposed measure provided that no person could practice accountancy or use the titles ‘Certified Accountant,’ ‘Certified Professional Accountant’ or ‘Certified Public Accountant,’ or their abbreviated titles ‘Acct.,’ ‘CA’ or ‘CPA,’ unless that person had received the appropriate certificate of registration, professional license and professional identification card.

This provision expressly recognized ‘Acct.’ as a qualified professional title. Its use would be reserved for those who had satisfied the prescribed education, examination, registration and licensing requirements.

I continue to advocate going one step further: duly registered accountants should be encouraged, and ultimately required in appropriate professional transactions, to use ‘Accountant’ or ‘Acct.’ in their names, correspondence, reports, official profiles and professional dealings.

The proposed title must not be treated as an ornament or a device for personal prestige.

Every time a person uses ‘Acct.’ before his or her name, that person publicly represents the accountancy profession. The title should therefore carry a commitment to competence, integrity, objectivity, professional behavior and accountability.

To be continued

Joel L. Tan-Torres was the former Dean of the University of the Philippines Virata School of Business. Previously, he was the Commissioner of the Bureau of Internal Revenue, the Chairman of the Professional Regulatory Board of Accountancy, and a partner of Reyes Tacandong and Co. and SyCip Gorres and Velayo and Co. He is a Certified Public Accountant who ranked No. 1 in the CPA Board Examination in May 1979. He provides tax practice and advisory services with his firm, JL2T Consulting. He can be contacted at joeltantorress@yahoo.com.

A resident takes a selfie as he rides a small boat along a flooded street caused by intense monsoon rains in Quezon City.

The flooding was part of the prolonged impact of the enhanced southwest monsoon, or habagat, which has combined with the effects of tropical cyclones Luis, Maymay and Neneng to bring heavy rains and flooding to several parts of the country.

As of 6 a.m. Sunday, August 30, the Department of Social Welfare and Development (DSWD) said it had distributed 2,335,404 family food packs, 14,896 non-food items and 23,694 ready-to-eat food boxes to affected communities.

The relief assistance, provided through augmentation requests from local governments, covers the National Capital Region and 10 other regions.

THE Department of Agrarian Reform (DAR) announced having partnered with the Development Bank of the Philippines (DBP) to strengthen the financial management, leadership, and technical capabilities of agrarian reform beneficiaries (ARBs).

The partnership aims to help ARB organizations (ARBOs) become more productive and sustainable, increase their members’ incomes, and contribute to stronger economic activity in rural communities.

Under a memorandum of understanding signed on August 25, the agency mandated to implement agrarian reform and empower small farmers will tap the DBP’s Agri-Agra fund to finance capacity-development programs for ARBOs nationwide.

Agrarian Reform Secretary Conrado Estrella III said strengthening the capabilities of farmers and their organizations is essential to increasing their incomes and creating more economic opportunities in rural areas.

‘We understand that up to now we still believe that majority of the consumers are coming from the rural sector of our country,’ Estrella said, emphasizing the important role of farmers and agrarian reform beneficiaries in the economy.

Estrella said farmers should be given opportunities to earn not only from farming but also from other income-generating activities.

‘When many farmers earn, you can see that the business is robust,’ he said, citing increased activity in sari-sari stores, malls, and other service sectors during harvest periods.

Estrella described the DAR-DBP partnership as a major step toward strengthening the agricultural sector and its contribution to economic growth.

‘This is one giant step now we have signed the MOA with the DBP,’ the DAR chief said referring to the capacity-development initiative for farmer-cooperators.

Estrella also described the partnership as ‘agrarian human infrastructure,’ stressing that investing in the skills and capabilities of farmers is as important as providing physical and financial resources.

He noted that some cooperatives face difficulties in sustaining their operations because of limited managerial skills, financial knowledge, and technical expertise.

Estrella said many cooperatives do not succeed because most of them lack managerial expertise.

‘They lack knowledge in finance and in management. And then they lack technical know-how,’ he added.

Through the partnership, ARBOs will receive training and technical assistance to help them manage their resources, plan their activities, and operate their organizations more effectively.

DBP President and CEO Michael O. de Jesus said agrarian reform beneficiaries need support beyond access to land.

‘Access to land, you need access to financing, access to training, they all go hand in hand,’ de Jesus said.

He described the agreement as an ‘excellent partnership’ and said DBP looks forward to working closely with DAR to support the development of agrarian reform beneficiaries.

Under the agreement, DAR will identify qualified ARBOs, facilitate commitment deposits, and prioritize capacity-development interventions based on their needs.

The DBP, meanwhile, will provide financing support subject to its existing bank policies and help connect ARBOs with state universities and colleges that can provide specialized technical assistance. The partnership will focus on key areas such as financial management, strategic planning, leadership, and operational administration.

Through the partnership, DAR and DBP aim to equip ARBOs with the skills, resources, and organizational support they need to become stronger, more productive, and financially capable.

Stronger together is the mission of the Philippine Chamber of Commerce and Industry (PCCI)-NCR North Sector as it mounts the first CAMANAVA Business Conference at the Navotas Convention Center on September 3 and 4.

All four PCCI chapters from Caloocan, Malabon, Navotas, and Valenzuela have united for a two-day event featuring over 200 exhibitors across sectors, talks by business experts, and a gala dinner and awards night for champions of Industry in what is also known as the Third District of Metro Manila.

At a recent media conference to announce the event, Charlie Policarpio, chair of the CAMANAVA Business Conference 2026 and Regional Governor of PCCI’s NCR North Sector, said the event aims to strengthen the district’s business ecosystem, foster cooperation, attract investments, and provide livelihood opportunities for SNEs.

Referring to the conference as ‘a milestone initiative unified by the BCCI-NCR North Sector, he said, ‘The event is designed to bring together businesses, entrepreneurs, industry leaders, and stakeholders on one platform.’

Beyond the fully packed program of seminars, breakout sessions, exhibitions, and networking opportunities, Policarpio emphasized that the organizers’ goal is to ensure that the conference delivers lasting value, with meaningful partnerships, insights, and initiatives extending well beyond the two-day gathering.

‘We want businesses to find the right connections, entrepreneurs to gain ideas they can turn into action, and partnerships to emerge. Partnerships that create real opportunities for growth and make a connection in our communities.’

Policarpio was joined by the presidents of various business associations: Debbie Guo of PCCI-Caloocan, Grace Torres of PCCI-Malabon, Benjamin Chua of the Malabon Chamber of Commerce and Industry; Paul Santos, PCCI-Navotas; and Gemma Ong, PCCI-Valenzuela.

Conference highlights

Showcasing the best of the district is a diverse mix of exhibitors ranging from food manufacturers, retailers, jewelry businesses, hardware owners, medical diagnostic centers, resorts and hotels, finance agencies, and industrial manufacturers-all based in the CAMANAVA area.

The local government units of the four cities will likewise highlight their respective MSMEs.

The event also aims to stir meaningful conversations that will bring new learnings and encourage participants to be future-ready.

Guest speakers are Frank Gaw, entrepreneur and founder of Kangkong King; Carl Balita, educator and entrepreneur; Francis Kong, leadership and entrepreneurship mentor; Chinkee Tan, wealth coach and financial literacy advocate; and Rey Pineda, communications and personal branding expert.

To cap off the landmark event on the last day is a gala dinner and solidarity night where the Champions of CAMANAVA Industries will be recognized.

Modern and old glory

Historically, CAMANAVA has a rich colonial heritage with preserved colonial churches and ancestral homes still standing in the area. It is also known for its heritage cuisine, like Pancit Malabon, Valenzuela City’s putong polo, fresh seafood from Navotas, and Filipino-Chinese cuisine in Caloocan City.

Malabon was once known as the Cradle of Bangus Farming and was the original site of commercial bangus farming, which began around 1863. Navotas is known as a fishing capital and supplies fresh fish and seafood to Metro Manila.

During the 19th century, the area thrived on highly specialized trades, such as refined sugar, textiles, cigar making, and kalesa manufacturing.

Today, the CAMANAVA district remains a bustling coastal economic hub and center for industrialization.

Inclusive growth

Welcoming the BCCI-NCR North Sector to Navotas, this year’s host city, Navotas Mayor John Rey Tiangco

‘This year’s theme, ‘Reigniting Businesses, CANANAVA on the Beat,’ is very timely. Our four cities have long been centers of industry, manufacturing, fisheries, logistics, food production, and trade. Together, we have the potential to become an even stronger economic hub.’

In Navotas, Mayor Tiangco cited that manufacturing accounts for 22.4% of the city’s GDP. Meanwhile, its fisheries sector continues to create opportunities across the entire value chain, from production and processing to whole-chain logistics and distribution.

He added that the modernization of the Navotas Fish Market, improved connectivity, and investment incentives for emerging industries are preparing Navotas for the next generation of businesses and investments.

Growth, however, must be inclusive, the mayor added.

‘As mentioned earlier, it’s not just a business conference. It’s actually about strengthening CAMANAVA into one integrated economic and industrial hub where businesses can grow, investments can flourish, and more jobs can be created.

‘I commend the four PCCI chapters for bringing CAMANAVA together, and of course the LGUs. We are proud that Navotas is your host. May this conference lead to stronger partnerships, stronger businesses, and a stronger CAMANAVA,’ Mayor Tiangco concluded.

TIM CONE is now talking Olympics following consecutive victories over Jordan and Iran and what perks up his confidence are the young and tall players at his disposal-all capable of filling the void left behind by behemoth June Mar Fajardo.

‘We have a chance in the World Cup to go to the Olympics from there,’ was the highlight of Cone’s interview following Gilas Pilipinas’s low-scoring 68-56 victory over Iran in the second of two FIBA 2027 World Cup Asia Qualifiers games on Sunday night at the SM Mall of Asia Arena.

On Friday night, the Philippines escaped past Jordan, 82-81, and is now 4-4 won-lost in the qualifiers, pushing Gilas a notch up the cellar in fifth spot n Group E where Australia (8-0) leads, followed by New Zealand (6-2), Iran (5-3), Jordan (5-3) and Syria (2-6) sixth and last.

‘This was really a special moment as I told them [players] in the locker room, but this was not just the goal,’ Cone said. ‘Our goal is to make the World Cup and this is a big step forward.’

He added: ‘The job is not done and we have more work to do, I think we do, I think we have some control.’

Eight teams from Asia will advance to the 2027 World Cup but with Qatar hosting the event in Doha, the slots are down to seven that is also being contested in the Group F among Lebanon (6-1), Japan (5-2), China (4-3), Saudi Arabia (3-4) and South Korea (3-4)-Qatar is also competing in the group with a 4-3 record.

Minus a recovering Justin Brownlee, almost everyone stepped up for Gilas, especially 7-foot-3 Kai Sotto, whose double-double averages of 15.5 points and 15.0 rebounds and 3.0 assists in both wins stand out for the campaign.

‘The size that we have allow us to compete with anybody internationally-and that is the key,’ Cone said. ‘Kai is a pure Filipino, June Mar [Fajardo] is pure Filipino. The thing about it is they are not just tall, but they are all equally talented. Kai plays like a point guard and he has a thinking game.’

‘If we have our best players together, we can compete with anybody, and I feel we really could,’ Cone said. ‘We are hoping to have all our best players together.’

The Philippines plays Syria on November 27, Iran again on November 30 and also Jordan on February 25 next year to complete the qualifiers.

The FIBA World Cup next year is a qualifier for the Los Angeles 2028 Olympics.

THE crowd just couldn’t help but chant ‘MVP! MVP! MVP!’ as 6-foot-10 June Mar Fajardo held the game ball aloft to acknowledge a very appreciative crowd who bade goodbye to the 13-year Gilas Pilipinas veteran.

‘My heart is overwhelming with gratitude, so thankful,’ Fajardo told the BusinessMirror the morning after the victory over Iran where he played for seven minutes and had six points and two rebounds.

‘Yes, it was my last game for Team Philippines,’ the impending 10-time Philippine Basketball Association MVP said. ‘I am blessed that I was able to play alongside Gilas pioneers and the present crop.’

‘I will support their Olympic quest. Just like Coach Tim, I am also the happiest man to play for Team Philippines for 13 long years,’ he added.

He now joins the ranks of notable Gilas players who wound up their duty to flag and country-recently retired Japeth Aguilar who has 16 years in his resumé and the hardworking and tough-playing Marc Pingris, whose tour went four years.

Fajardo made the national team on his rookie year in the PBA in 2013 and was part of the Gilas squad that made the 2014 World Cup in Seville where he notched big numbers of 15 points and nine rebounds in an 81-79 overtime win over Senegal.

His FIBA averages are 6.5 points, 4.3 rebounds and 0.7 in 70 games, including three World Cups Spain, China and the Philippines.

The central bank may go on a ‘prolonged pause’ from raising its policy rate while uncertainty remains high as the combined inflationary impact of a severe El Niño and wage hikes is ‘historically difficult’ to estimate, according to Japan-based Nomura Global Markets Research.

‘We maintain our forecast that BSP [Bangko Sentral ng Pilipinas] hikes by another 25 basis points to 5.25 percent at the next monetary board meeting in October but now see some risks it could deliver more thereafter,’ Nomura said in its commentary.

From October, however, Nomura said it expects BSP to shift to an extended pause but it did not rule out further rate hikes especially if El Niño turns out worse than the central bank had anticipated.

‘From October, we forecast a prolonged pause by BSP but acknowledge some risk that BSP could deliver more hikes later and that the rate cuts we penciled in for [the second half of] 2027 could be delayed,’ Nomura noted.

‘If El Niño is more intense and/or more prolonged, this could prompt BSP to hike by more, as another preemptive response to the potential impact of sharp increases in food prices to inflation expectations,’ it added.

Nomura believes uncertainty remains high as the inflationary impact of a severe El Niño and the impact of wage hikes is historically difficult to estimate, which is why BSP officials in the press briefing ‘repeatedly’ said they have to look at various scenarios and judge ‘respective probabilities.’

At the monetary policy stance briefing of the central bank last August 27, BSP Assistant Governor of the Monetary Policy Sub-sector Rogelio V. Mercado Jr., said the central bank has already factored in a strong El Niño based on past events in terms of increase in prices.

In the ‘central scenario,’ BSP Department of Economic Research Director Lara Ganapin said the central bank is looking at two channels in terms of the impact on rice output.

‘If rice output would go down, there would be some pressure on domestic rice prices. The other channel is in terms of higher import prices because other countries are also affected by the El Niño,’ she said.

In the alternative scenarios, Ganapin said the central bank also ran some simulations which take into account risk factors associated with strong typhoons.

‘According to the scientists, strong El Niño is also associated with severe, let’s say, strong typhoons. So, we also had some simulations. If there are strong typhoons, if there is change in foreign export policy of other countries, so that’s also a risk factor and also our own domestic policy,’ the BSP director noted.

The BSP revised downwards its inflation forecast for 2026 to 6.1 percent from its 6.4 percent forecast during its June 18 policy meeting while it raised its inflation forecast for 2027 to 5.4 percent, from its 4.5 percent forecast last June 18.

Mercado said the 6.1 percent inflation is ‘of course driven by lower-than-expected inflation in June and July, as well as declining oil prices. This would be partly offset by the impact of El Niño on rice prices in the fourth quarter.’

Given what the central bank thinks the impact is likely to be, BSP Governor Eli M. Remolona Jr. signaled: ‘We may not need further policy increases.’

However, he said a pre-emptive move doesn’t mean ‘we won’t do anything else,’ adding that this would still depend on the impact of the risks the BSP is looking at.

During the policy meeting, Remolona said that while oil prices remain volatile, he said the central bank is keeping an eye on bigger risks to inflation.

‘We’re even looking beyond just the oil prices, which have been going up and down. We’re looking at other factors as well. They’ve become more prominent than before,’ he added.