Category: Business Mirror

The Cebu City government is stepping up measures to contain African swine fever (ASF) in three upland villages as authorities move to remove more than 50 pigs from affected areas and continue surveillance for additional infections.

Kenneth Siasar, chief of staff of Cebu City Mayor Nestor Archival, during a press briefing said that the city is coordinating with the Department of Veterinary Medicine and Fisheries (DVMF) and other offices to contain the spread of the disease in barangays Toong, Buhisan, and Pamutan.

The latest DVMF report cited by Siasar showed seven pig deaths as of Sunday, September 20. He also reported 14 deaths recorded earlier in September, while more than 50 pigs in the affected areas have been identified for culling as part of the containment effort.

Siasar clarified that the city’s use of the term ‘culling’ refers to the removal or separation of pigs in areas affected or considered at risk, rather than indicating that all of the more than 50 animals had already died.

The development places additional pressure on backyard and small-scale hog raisers in the city, who face the loss of livestock and restrictions on animal movement while authorities work to prevent the disease from spreading to other communities.

The city government is continuing disease surveillance in the affected barangays to determine the extent of infection and identify possible sources of the reported deaths.

Authorities are also looking into possible movements of pigs from other towns, including Consolacion and Liloan, as part of efforts to trace potential transmission routes.

Siasar said testing is being conducted within a 500-meter radius of affected areas. Carmel Pedroza

Police personnel are also being deployed to help enforce movement restrictions around the affected barangays, particularly in areas where pigs cannot immediately be removed.

The city is coordinating with its Department of Engineering and Public Works (DEPW) for equipment that will be needed to remove dead pigs from affected areas.

These measures are aimed at preventing infected animals from being transported beyond the identified hotspots, a key concern for the local hog industry given the economic losses associated with ASF outbreaks.

Siasar said affected hog raisers may receive indemnification under Department of Agriculture (DA) guidelines, although the amount depends on the animal’s age, weight and classification.

Under the rates cited during the briefing, pigs aged 21 to 90 days are covered for P4,000, while hogs weighing 25 to 70 kilograms are covered for P8,000. Sows are covered for P12,000.

The assistance, however, applies only to registered animals.

Siasar acknowledged that some affected hogs are not registered and therefore may not qualify for the regular DA indemnification program. The city is seeking other forms of assistance, including support through the Assistance to Individuals in Crisis Situation (AICS) program, for affected raisers who may be left outside the regular compensation system. The city is also looking at alternative sources of livelihood for affected families while restrictions remain in place.

Siasar said some residents have received cockerels, while ready-to-lay chickens have also been provided with assistance from private companies.

The livelihood interventions are intended to help households whose income from hog raising has been disrupted by the outbreak and the resulting movement controls.

AN analyst warned that there could be a lag effect in the war-driven bad loans ratio which could only be evident in the late-2026 or 2027 data.

Leonardo A. Lanzona Jr., an economist at Ateneo De Manila University (ADMU), explained this to the BusinessMirror after a report recently published by the Bangko Sentral ng Pilipinas (BSP) pointed out that the Philippine banking system’s bad loans ratio in June, at 3.3 percent, was the highest relative to its peers within the Asean-5 bloc.

‘Loan quality improved. The Philippine banking system’s gross non-performing loans [GNPL] ratio remained steady at 3.3 percent as of end-June 2026 relative to the previous quarter,’ the central bank’s Q2 2026 Report on Economic and Financial Developments noted.

‘Compared to its regional counterparts, the Philippine banking system’s GNPL ratio was higher than those of Thailand, Indonesia, Malaysia, and South Korea,’ the report also noted.

NPLs, also known as ‘bad’ or ‘soured’ loans, are credit accommodations that have not been paid for 90 days or more after the due date. The NPL ratio measures the proportion of bad loans to total loans.

‘Level gap, not fresh deterioration’

Lanzona said, however, that this only points to a ‘level gap, not a fresh deterioration’ as banks are not seeing a new wave of defaults.

Instead, he said: ‘They’re just carrying more legacy soured debt than peers.’

Lanzona said this is mostly structural as the Philippine economy has ‘heavier SME, micro-lending, and agri exposure, weaker collateral and credit-bureau infrastructure than Malaysia or South Korea.’

He also pointed to ‘pandemic-era restructurings that never fully cleared the books.’

Further, Lanzona explained to this paper that some of the gap is also ‘definitional’ since NPL classification is not ‘perfectly harmonized’ across the region.

‘Practically, it means Philippine banks price credit more conservatively and hold higher provisioning, which mildly constrains credit growth to riskier segments without signaling a brewing crisis,’ he also noted.

Lag effect

However, Lanzona emphasized that the 3.3-percent bad loans ratio in June 2026 does not yet reflect the loans stressed by the conflict-driven energy and inflation spike.

‘NPLs are a lagging indicator, so today’s 3.3 percent mostly reflect loans stressed before the Iran-conflict-driven energy spike and the BSP’s hikes to 5 percent,’ Lanzona said.

‘The transmission channel is plausible-squeezed real incomes and higher debt-service costs from rate hikes could pressure repayment capacity, and peso weakness adds risk for dollar-linked borrowers,’ he added.

But, he pointed out, that effect would more likely surface in late-2026 or 2027 data.

‘For now, treat it as a forward risk rather than something already visible in the numbers,’ Lanzona told this newspaper.

Michael L. Ricafort, chief economist at Rizal Commercial Banking Corporation (RCBC), explained that the highest NPL ratio in the Asean-5 region ‘could reflect relatively higher interest rates, hinged on relatively higher inflation as the country imports almost all of its oil.’

‘The relatively higher interest rates and relatively higher inflation fundamentally reduce the purchasing power of various borrowers, as well as the ability to pay their debts, on top of slower global and economic growth as a result of the said war that led to lower sales and earnings that also reduce the ability of some browsers to pay their debt,’ added the chief economist of RCBC.

Earlier, Jonathan L. Ravelas, senior adviser at Reyes Tacandong and Co., explained that for policymakers, NPLs are an important ‘financial stability’ signal.

‘Ideally, you want NPLs within the 2 to 3 percent range, so we’re slightly above comfort levels-but still manageable,’ he said.

In a commentary published early-September, SandP Global Ratings said it expects NPLs to climb for the Philippines in ‘riskier segments.’

‘Lower-income households and small and midsize enterprises (SMEs) are grappling with rising living costs and unemployment,’ the credit rating agency noted.

Further, it pointed out that auto loans are seeing a ‘sustained increase’ in NPLs and past due loans, reflecting the ‘squeeze’ in household incomes centered on mass market consumers.

‘The lack of broader fuel subsidies has resulted in a massive jump in fuel prices. As a result, auto loans have seen a sharp slowdown in growth,’ added SandP Global Ratings.

THE Cybercrime Investigation and Coordinating Center (CICC) has given Reddit and Discord 24 hours to establish a presence in the Philippines, warning that the two platforms could face restrictions or have their access blocked if they fail to comply.

In separate letters dated September 21, the CICC ordered the platforms to immediately designate, from receipt of the letters, a resident agent or local representative who can facilitate Philippine jurisdiction and improve coordination with local authorities.

The agency warned that failure or refusal to comply within the period could prompt it, in coordination with appropriate Philippine authorities, to restrict the platforms’ operations or prohibit users in the country from accessing them.

‘We are not asking platforms to police the internet for the government but to be reachable, accountable, and responsive when activities on their platforms put Filipino children and communities at risk,’ the CICC executive director, Undersecretary Renato Paraiso, said.

‘When an online threat spills over into the real world, there has to be clear channel for authorities to act,’ Paraiso added.

The ultimatum follows the September 18 shooting at Banga National High School in South Cotabato, the third school shooting in the country in just a few months, amid mounting concern over the use of online platforms to spread violent extremist content and exploit minors.

The CICC also directed Reddit and Discord to submit written explanations of their existing arrangements, along with concrete implementation plans for stronger safety standards, rapid response mechanisms, and age-verification or age-assurance measures.

The agency also asked the platforms to join a cooperative framework addressing the digital exploitation of minors, which it said has shifted from isolated online interactions to activities that fuel real-world violence and physical harm.

The proposed framework would cover networks involved in the creation, solicitation, possession, distribution, exchange, promotion, or monetization of online sexual abuse and exploitation of children (Osaec) and child sexual abuse or exploitation materials (Csaem), as well as nihilistic violence extremism (NVE) occurring on the platforms.

The CICC has also formally asked the Department of Foreign Affairs to convene a coordination meeting and facilitate the participation of Meta, Discord, Reddit, and other social media platforms in discussions with the government on measures against online threats linked to violence and child exploitation.

Earlier this month, the government met with representatives of Meta and Roblox to form a technical working group that will implement stricter child safety measures, faster content takedowns, and secure age-verification mechanisms.

Reddit is a discussion platform organized into topic-based communities, while Discord is a messaging and community platform built on private messages and invitation-based servers. According to the agency, these features can create fertile ground for the grooming, recruitment, and radicalization of minors.

The agency said recent investigations have raised alarm over the online grooming and recruitment of minors, including links to NVE-associated communities. These concerns have been heightened by the school shooting in Tacloban City in June, the August 18 shooting at Ateneo de Zamboanga University, and the Banga National High School shooting.

The Ladies Philippine Golf Tour’s top guns look to take center stage at Taichung International Golf Club as the Kenda Tires TLPGA Open gets underway on Wednesday, facing a strong cast of Taiwan LPGA Tour stars.

The 54-hole championship offering a prize pot of NT$4 million (around P7.9 million) marks another significant step in the LPGT’s growing presence on the international circuit, this being a co-sanctioned tournament with TLPGA, with 20 LPGT players set to challenge the hosts and other foreign contenders at the Taichung International Golf Club.

With the tournament moving to Taichung for the first time after previous TLPGA-LPGT co-sanctioned stops in other Taiwan cities, the LPGT delegation sees an opportunity to make an early impact and perhaps produce another overseas victory.

Leading the Philippine charge is two-leg LPGT winner Yvon Bisera, who starts with Taiwan standouts Ling Jie Chen and Chieh Ning Hung on No. 10.

Bisera, who captured the Thailand Ladies Masters last year for her first international title, believes the course’s combination of narrow fairways, uneven lies and undulating greens will reward precision more than power.

‘It’s so hot, just like in the Philippines,’ said Bisera, who played the course for the second time during Tuesday’s pro-am. ‘The course has a combination of hilly and flat features. Uneven lies, but the trickiest part is really the greens.’

The East and Center nines of the 27-hole layout will be used for the championship, with the sloping terrain and several narrow fairways putting premium on accurate driving and well-placed approaches.

Bisera found the greens particularly demanding but saw some encouragement in the relatively open layout. She also stressed the importance of finding the fairway, especially on the dogleg holes where a good drive can dramatically shorten the approach.

‘When you hit your tee shot perfectly, you’ll have a good chance to attack, especially on the dogleg holes,’ said Bisera.

She knows, however, that good ball-striking alone will not be enough. With temperatures expected to remain high throughout the week, endurance and proper hydration could become just as important as putting together three solid rounds.

‘I would do my best and give my all for this tournament,’ said Bisera, who will be hoping to add another international title to her growing résumé.

Fellow ICTSI-backed ace Mafy Singson likewise expects a demanding battle, starting with Chun Wei Wu and I-Wen Chen on the front nine.

Singson described the layout as relatively flat but said the small, heavily undulating greens could provide the biggest challenge.

‘The course is relatively flat, but the greens are a little hilly, very undulating and small,’ said Singson.

That makes approach shots and recovery play especially important, with players forced to think carefully about where to attack and where to miss.

‘I wouldn’t say it’s that difficult, but I wouldn’t say it’s that easy either,’ Singson said. ‘The greens are pretty tricky, and I think the approach shots will also be important.’

‘We’d have to do well around the greens and know where to miss.’

Singson also cautioned against wayward drives, with the thick rough likely to make recovery difficult.

‘The long game is important, of course-putting our drives in the fairway and not missing them because the rough is pretty thick,’ she said. ‘So it’s the long game, approach shots and mostly the short game.’

Like Bisera, Singson is keeping her focus on execution rather than expectations.

‘I hope to do well. Everyone wants to do well this week,’ she said. ‘I just plan to do my best and hopefully finish well.’

Princess Superal provides another major threat from the LPGT side, with the 2022 Asia-Pacific Cup champion opening against Thai ace Nook Sukapan and local standout Jo Hua Hung at on No. 1.

The contingent also includes Korean LPGT mainstays Jiwon Lee, Kim Seoyun and Eunhua Nam, each capable of making a strong run, while amateurs Isabella Tabanas and twins Mona and Lisa Sarines add youth and unpredictability to the Philippine side.

Also gunning for the title are Marvi Monsalve, Sarah Ababa, Harmie Constantino, Kayla Nocum, Lois Kaye Go, Chihiro Ikeda, Velinda Castil, Kristine Fleetwood, Rev Alcantara, Monica Mandario and Gretchen Villacencio.

MEASURES will be put in place to address the latest Chinese ramming incident that targeted a Bureau of Fisheries and Aquatic Resources (Bfar) vessel off Palawan on September 18, Defense Secretary Gilberto Teodoro Jr. said.

‘Definitely. This definitely needs to be addressed and we’ll be talking with the National Security Advisor and the National Maritime Council. Kasi unarmed vessel ito [Because this is an unarmed vessel], Bfar vessel, [and this (ramming) has] no rhyme, no reason,’ he said in an interview.

A China Coast Guard (CCG) ship hit the Bfar ship BRP Datu Magat Salamat (MMOV-3015) broadsides while the latter was carrying out a fuel subsidy mission for Filipino fishermen off Hasa-Hasa Shoal, West Philippine Sea.

‘It’s not merely a violation of maritime rules, but a criminal act by the CCG. So, we will be addressing that. I’m not going to talk about specifics now, but definitely our personnel are already developing options for addressing this,’ Teodoro said.

He said the Chinese action needs to be addressed as soon as possible since the incident took place in Philippine territory.

He added that if any of the Bfar personnel manning the ship were injured in the incident, that action by the CCG can also be considered as a criminal act.

Teodoro said Filipinos reportedly claiming that the CCG is right in ramming the BFAR ship are guilty of treason.

‘[That is] not acceptable, at katrayduran na sa Republika ng Pilipinas iyon [that is treachery against the Republic of the Philippines], plain and simple,’ he said.

The National Task Force for the West Philippine Sea (NTF-WPS) earlier condemned the incident, noting that is a serious breach of the 1972 Convention on the International Regulations for Preventing Collisions at Sea (Colregs), the United Nations Convention on the Law of the Sea (Unclos), and the 2016 Arbitral Award.

THE Al-Amanah Islamic Investment Bank of the Philippines (AAIIBP) pledged financing to micro-sized, small-scale and medium-sized enterprises (MSMEs) seeking to be part of the multitrillion-dollar global halal industry.

A statement issued by the state-owned Islamic bank quoted CEO Amenah F. Pangandaman as saying they are still determining how much the lender can set aside for halal-related financing as it works with other government agencies to expand support for the industry.

Due to strict adherence to high-quality and health standards, more Muslims and non-Muslims are choosing halal products. The value of the global halal industry is expected to grow from its current estimate of $4 trillion to $10 trillion by 2030.

‘We should not miss the boat. There is so much room for growth-growth to show that halal is more than just a dietary restriction in observance of our faith. But it is an opportunity to push forward economic development alongside inclusivity,’ Pangandaman said.

Supply gap

THE Philippines’s continued reliance on imports, with more than $100-million worth of halal products having been brought into the country over the past few years, have created a supply gap, according to the AAIIBP chairman.

‘We have the demand to fill, we have our people to do the job, we have a huge market waiting for us, but without the capital-the financing-it will always be an arduous task to get out of that niche market concept attached to halal,’ Pangandaman added.

However, she noted that financing barriers, such as costs related to certification, facility and production upgrades, make it hard for MSMEs to enter the halal market.

‘Financing for our MSMEs must support the entire value chain. It is not enough that we provide their capital for production, as it is still a long journey as we move toward certification, logistics, scaling up and eventually exporting,’ Pangandaman said.

Expansion plans

BEYOND providing capital for MSMEs, the bank has entered into a memorandum of understanding with the Department of Trade and Industry to finance halal expansion, including facilities for halal slaughterhouses and accreditation fees.

The bank has also partnered with the Cooperative Development Authority to support the expansion of cooperatives involved in the halal sector.

Moreover, the AAIIBP and the National Commission on Muslim Filipinos has agreed to pursue a memorandum of understanding to support MSMEs and halal certifying organizations with Islamic financing.

‘There is no denying that halal certification, here and elsewhere, can be difficult, extensive and costly for MSMEs, but the returns for both consumers and businesses are also abundant,’ Pangandaman said. ‘As we work toward accessible and understandable certification, we must also put in mind that it should not become an unnecessary hurdle for our MSMEs.’

MSMEs consist 99.5 percent of the country’s business establishments, providing 63 percent of total employment and are the closest to local communities.

As stipulated in the Philippine Halal Industry Development Strategic Plan, the government aims to secure P230 billion in investments by 2028, double the number of halal-certified products and services to 6,000 and create 120,000 jobs.

Green developer Arthaland is taking its sustainable residential vision north with the opening of the Arthaland Gallery in Quezon City, featuring Liv, its newest residential development in the Katipunan area.

Designed as an immersive touchpoint for prospective homeowners, the gallery brings the project’s vision closer to the market, allowing visitors to experience firsthand how thoughtful design, sustainability and contemporary urban living come together in a community positioned within one of Quezon City’s established residential and education hubs.

Located at the corner of Rajah Matanda Street and Katipunan Avenue, the gallery is about 3 kilometers, or roughly Jive to 10 minutes, from the Liv project site.

‘The Arthaland Gallery experience was designed to give visitors a feel for Liv even before it is completed. They can see and experience the units and lifestyle we are creating at Liv as

Arthaland expands its presence in Quezon City,’ says Celeste Cariño, associate vice president for business planning and development, Arthaland.

The space includes a display area, a digital kiosk, a scale model of the development, a unit finishes area, and fully furnished studio and one-bedroom model units. It will also have a café operated by the local brand Switch Coffee, with an indoor space and an al fresco area open to the public.

The gallery was launched through a symbolic Tree of Life ceremony attended by the Arthaland project team and partners.

Cariño says the Tree of Life reflects the values behind Liv, including balance, harmony, unity, and the interconnectedness between people and nature.

During the ceremony, the representatives led by Cariño watered a plant to symbolize the nurturing of shared roots. The tree then lit up from its roots upward, formally opening the gallery. The Tree of Life will eventually be part of Liv’s podium design.

She describes Liv as a glue bringing together carefully crafted residences, study and work areas, wellness facilities, and social spaces to create a vertical community centered on connection, well-being, and sustainable living. The development builds on

She says Arthaland’s experience in the mid-market residential segment for sustainability, wellness, exceptional quality, and thoughtful design is geared to benefit more people.

Liv champions connectivity with development’s location, with dual access to Katipunan Avenue and Esteban Abada Street, Liv features a dedicated bridgeway connecting directly to Ateneo de Manila University’s Gate 1. It also has dual street access and is about a five- minute walk from LRT 2 Katipunan Station. Miriam College, the University of the Philippines, and a range of schools, commercial establishments, and lifestyle destinations are also within easy reach.

The 46-story Liv North will be the first of the two towers in the development, offering 748 residential units. Studio, One-bedroom, and Two-bedroom units range from approximately 24 to 70 square meters and are designed for investors, parents seeking homes for their children, and professionals seeking a well-connected address near leading educational institutions and key business districts.

The model units at Liv were designed by Hong Kong-based RGBA Design Ltd., which worked with Arthaland on interior architecture and hospitality design. Founded and led by Rowena Guevara Berroya, Cariño says RGBA brings more than two decades of experience across the Philippines and Asia, with a portfolio that includes collaborations with major hospitality groups. For Liv, Cariño says RGBA designed the interiors to make the most of compact urban spaces without making them feel restrictive, creating homes that are functional, flexible, and distinctly personal.

Cariño describes the 25-square-meter Studio model unit as envisioned for a young achiever who is beginning to build her future while expressing her own style. Instead of a conventional bed arrangement, the model unit features a custom bunk bed with a study area underneath, creating distinct spaces for rest, work, and creativity while keeping the living area open. Large operable windows bring fresh air and natural light into the unit, while the separate toilet and shower areas allow two routines to run simultaneously.

Adaptable layouts also allow the spaces to evolve as residents’ needs change, while biophilic elements bring a touch of nature into the home.The approximately 40-square-meter One-bedroom model unit takes a different approach, designed for a resident who has grown into their own identity and values independence, comfort and intentional choices. A private balcony extends the living space, while large operable windows bring in natural light and fresh air. The separate toilet and shower areas provide added privacy and convenience, particularly when entertaining guests.

Liv North is targeted for turnover in July 2031.

The Asian Development Bank Institute’s warning last week should serve as a wake-up call to our policymakers: the Philippines has entered the upper-middle-income tier at arguably the most challenging moment in modern economic history. With a GNI per capita of $4,850 finally pushing the country past the World Bank’s threshold, the congratulatory headlines have barely dried before ADBI Dean and CEO Bambang Brodjonegoro delivered an uncomfortable truth-getting from here to high-income status will be significantly harder than it was for the Asian Tigers that came before. (Read the BusinessMirror story-PHL told: Tap digital, service economy, September 17, 2026).

The numbers tell a story of both promise and peril. Our digital economy already contributes nearly 10 percent of GDP and employs over one in five workers. Services now dominate at 64.6 percent of economic output. These figures suggest the structural shift toward a knowledge-based economy is already underway. Yet the deceleration in services growth-from 6.9 percent to 4.5 percent-hints at the headwinds facing this transition.

What makes Brodjonegoro’s analysis particularly sobering is his historical framing. South Korea, Taiwan, Hong Kong, and Singapore didn’t just industrialize-they did so under a geopolitical umbrella that no longer exists. The Cold War created powerful incentives for Western economies to nurture Asian manufacturing hubs as strategic bulwarks. Export markets were opened, technology was transferred, and capital flowed freely to allies. Today’s fragmented world offers no such largesse. As Brodjonegoro bluntly stated, ‘There is no special interest from the bigger economy to help the middle-income Asia to be high-income.’

This is the new reality we must navigate: a multipolar world where the Philippines must compete not just on cost, but on capability. The manufacturing foundation that Brodjonegoro insists must be maintained is increasingly automated. The service economy that represents the path forward is being rapidly transformed by AI. The country finds itself in a race against time to upskill its workforce before algorithms render entire categories of BPO and back-office jobs obsolete.

The climate dimension adds another layer of difficulty. The country’s geography makes it particularly vulnerable to the intensifying typhoons and flooding that Brodjonegoro referenced. Every peso spent on disaster relief and reconstruction is a peso not invested in digital infrastructure or human capital. The ‘cost or effort’ of development has indeed become ‘much harder.’

Yet within this challenging landscape lies opportunity. The country possesses advantages that its predecessors did not: a young, English-speaking population, established strengths in business process outsourcing, and a diaspora that has built global networks and sends home billions in remittances. The digital economy’s 9.8 percent GDP share demonstrates that transformation is possible.

What the ADBI diplomatically frames as ‘tapping the digital and service economy’ is, in reality, a call for full-scale national mobilization. This means regulatory frameworks that encourage AI adoption, education systems that prioritize digital literacy and critical thinking over rote memorization, and infrastructure investment that connects the archipelago’s fragmented markets.

The middle-income trap should be understood not as an unavoidable economic phase, but as a consequence of policy missteps. Countries get stuck not because they reach a certain income level, but because they fail to evolve their economic models. The Philippines has crossed the threshold into upper-middle-income status. Whether it remains there for decades, like Latin American nations that stagnated, or pushes through to join the high-income club, will depend on decisions made today. The window for AI and digital transformation is closing fast. Hesitation is not an option.

MAJOR aviation and logistics companies drove a more than sixfold surge in investments approved by the Bases Conversion and Development Authority (BCDA) in the first half of 2026.

Latest data showed that BCDA-approved investments reached P49.96 billion during the period, up 535 percent from P7.87 billion in the same period last year. The commitments are expected to generate about 4,210 jobs.

The aviation sector alone accounted for P33.91 billion, or nearly 68 percent of the total, making it the largest contributor to the investment increase.

The latest commitments included Lufthansa Technik Philippines’ development of a new widebody aircraft maintenance facility in Clark, along with continued expansion by Federal Express Corporation (FedEx) and United Parcel Service (UPS) International.

The projects cover aircraft maintenance, repair and overhaul (MRO), cargo and logistics and other aviation-related activities, adding capacity around Clark International Airport and strengthening its links to domestic and international markets.

‘Global companies are making larger and longer-term commitments to the Philippines because they see the potential to serve both the domestic market and the wider Asia-Pacific region from here,’ BCDA President and Chief Executive Officer Joshua M. Bingcang said.

Clark’s location in Central Luzon provides aviation and logistics operators with access to the region, Metro Manila and other domestic markets.

Other sectors also posted investments during the period. The residential sector accounted for P5.9 billion in approved investments, while government and sports projects contributed P500 million and hospitality investments reached P30 million.

Agreements involved InfiniVAN, the Philippine Sports Commission, Sophia Real Estate Executives and Development Corp., Baguio Mountainscapes, Hann Philippines and ACWA Power Philippines, as well as a consortium of GTM Networks Asia and Volksbahn Technologies.

Furthermore, investment activity was concentrated primarily in BCDA’s major economic zones, including Clark and Camp John Hay in Baguio.

The investment commitments come as BCDA and its partners continue to develop infrastructure for the Luzon Economic Corridor, including airport capacity, connectivity and logistics facilities.

PDIC to sell Luzon assets

THE Philippine Deposit Insurance Corp. (PDIC) is set to offer for sale 76 properties based in Luzon through electronic public bidding (e-bidding) via the PDIC Assets for Sale site with bids accepted starting at 9:00 a.m. on October 21 until 1:00 p.m. on October 22, and the opening of bids at 2:00 p.m. on October 22, In a statement, the PDIC said headlining the portfolio are 14 residential properties in Laguna. The e-bidding will also offer a dozen vacant agricultural and five vacant residential properties in Palawan. Minimum bid prices start at P64,270.00, the statement read. Other assets to be sold are 19 vacant residential properties, 13 properties classified as residential with improvements, 6 vacant agricultural properties, 5 properties classified as mixed residential/agricultural, and 2 properties classified as agricultural with improvements.

BPI touts award

THE Bank of the Philippine Islands (BPI) announced it has been recognized as the country’s ‘Best Bank for SMEs’ by the Haymarket Media Group, the privately-owned media firm behind the ‘FinanceAsia Awards 2026.’ A statement by the lender read the award ‘[affirmed] its commitment to helping small and medium enterprises (SMEs) access financing, manage their businesses, and pursue growth.’ ‘The recognition highlights BPI’s continued efforts to be a trusted banking partner for Filipino entrepreneurs through tailored financial solutions, digital innovations, and initiatives that respond to the evolving needs of businesses,’ the statement further read.