Category: Business Mirror

Shell Energy Philippines Inc. (SEPH) has signed another 15-year power supply agreement with Greenlight Renewables Holdings Inc., through its subsidiary San Isidro Solar Power Corp., for an additional 120 megawatts peak (MWp) from Phase 2 of the San Isidro Solar Power Project in Leyte.

Together, the two agreements cover 240 MWp of solar capacity, strengthening SEPH’s renewable energy (RE) portfolio and expanding the electricity options available to commercial and industrial customers.

Both phases of the San Isidro Solar Power Project are now energized. Phase 1 was energized in October 2025, followed by Phase 2 on July 30, 2026. The project adds renewable generation capacity to the Visayas grid and supports the country’s growing electricity requirements.

Company officials said SEPH and Greenlight Renewables have strengthened their partnership through the San Isidro solar project, demonstrating how collaboration between energy suppliers and renewable developers can help meet the country’s growing electricity demands.

‘Our continued partnership with Greenlight reflects a shared commitment to making renewable energy available to customers while supporting the country’s growing energy requirements,’ said SEPH President Bernd Krukenberg.

Darlene Arguelles, president and CEO of Greenlight Renewables, said the project highlights what can be achieved when different sectors of the energy value chain collaborate beyond traditional business relationships to uplift communities.

‘We are grateful for our partnership with Shell, which truly goes far beyond the traditional business relationship. We are committed to uplifting our communities and bringing renewable capacity to the country.’

Ambassador-designate Ibok-Ete Ekwe Ibas was officially welcomed, and his credentials were received by President Ferdinand R. Marcos Jr. in Malacañang Palace on September 1.

Both pushed for the further strengthening of Philippine-Nigerian relations, as the two countries prepare to mark 65 years of diplomatic ties in 2027.

The President also noted that ‘the Philippines and Nigeria have significant potential to expand cooperation especially in energy security, trade and investment, and pursue initiatives that would mutually benefit our peoples and our countries.’

He was joined by Secretary of Foreign Affairs Ma. Theresa Lazaro, Assistant Secretary Germinia Aguilar-Usudan, and Deputy Chief of Presidential Protocol Dennis Briones.

The Philippines and the Federal Republic of Nigeria established diplomatic relations on August 1, 1962.

The upcoming anniversary provides an opportunity for both countries to expand cooperation and exchanges across various areas of mutual interest.

THE increase in bad loans ratio in July reflects ‘pockets’ of financial stress among some households and businesses after an extended period of high borrowing costs and elevated inflation, according to analysts.

Experts pointed this out after data from the Bangko Sentral ng Pilipinas (BSP) showed that the gross non-performing loans (NPLs) ratio climbed to 3.35 percent in July 2026-the highest in two months or since May 2026.

Data showed that the peso value of bad loans climbed to P585.08 billion, up 9.27 percent from the P535.448 billion recorded in end-July 2025.

Similarly, bad loans as of end-July 2026 were higher by 0.02 percent than the P584.97 billion as of end-June 2026.

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.

Meanwhile, total loan portfolio amounted to P17.45 trillion as of end-July 2026. This was 1.86 percent lower than the P17.78 trillion as of end-June 2026.

‘While the economy continues to grow, not all sectors and borrowers are recovering at the same pace, which is affecting repayment capacity in certain segments. At the same time, as bank lending expands, a modest rise in NPLs is a normal part of the credit cycle,’ Jonathan L. Ravelas, senior adviser at Reyes Tacandong and Co. said in a Viber message.

Michael L. Ricafort, chief economist at Rizal Commercial Banking Corporation (RCBC), explained that the higher inflation and interest rates have ‘effectively’ reduced spending power and consumption thereby reducing sales, earnings, and employment.

As a result, he said these reduced the ability to pay by borrowing businesses, industries, households and other institutions.

Breakdown

THE NPL ratio of universal and commercial bank group stood at 3.08 percent with the peso value of bad loans amounting to P495.91 billion, as of end-July. The ratio is higher than the 3.01 percent in June but lower than the 3.12 percent in June last year.

For thrift or savings banks, the NPL ratio plunged to 6.16 percent, or P65.87 billion, as of end-July 2026 from 6.33 percent in June, but remained above the 6.06 percent level in July 2025.

Meanwhile, the asset quality of digital banks worsened with their NPL ratio climbing to 6.45 percent, or P5.395 billion, as of end-July 2026 from 6.16 percent at end-June. This was, however, lower compared to the 6.98 percent NPL ratio in July last year.

Meanwhile, past due loans reached P738.77 billion as of end-July 2026, down by 1.94 percent from P753.38 billion a month ago; and higher by 7.44 percent from P687.59 billion billion at end-July 2025.

The past due loans ratio settled at 4.23 percent of banks’ total loan portfolio in July 2026, lower than the 4.24 percent in June 2026 and the 4.36 percent in July 2025.

Moving forward, Ravelas said the key will be ‘continued’ economic growth, easing inflation, lower interest rates, and ‘prudent’ credit risk management to help improve borrowers’ debt-servicing capacity.

Ricafort said for the coming months, continued stronger growth in loans compared to economic growth could still reflect some ‘frontloading and hedging of various purchases by some borrowing businesses before prices and interest rates go up further as a matter of prudence’ amid the conflict in the Middle East.

He explained that the front-loading of purchases could expand the ‘loans denominator’ which could somewhat temper the bad loans ratio.

Still, he said the faster increase in the prices of goods and services or inflation could lead to ‘greater need for loans by those that barely make ends meet, especially those at lower income brackets,’ which he said could be the source of bad loans.

‘Future economic/GDP growth would be an important catalyst for lenders and credit rating agencies in terms of catch-up government spending, especially on infrastructure, to make up for the underspending since the latter part of 2025 largely due to the anomalous flood-control projects since then,’ Ricafort explained.

He added that faster economic growth would help boost sales, incomes, and employment ‘that tend to improve the ability to pay by some borrowers than otherwise in view of geopolitical uncertainties/risks in recent months.’

He also warned that a strong El Niño drought from the fourth quarter of 2026 to early 2027 could be a source of new bad loans, especially for the hardest hit sectors in agriculture and other affected businesses, industries, consumers, and households.

Ravelas said the recent increase in bad loans does not point to a systemic banking issue.

‘Philippine banks remain well-capitalized and adequately provisioned, while the NPL ratio remains manageable by historical standards,’ added Ravelas.

The Senate on Wednesday, September 9, 2026, adopted Senate Resolution 629 commending the outstanding Filipinos awarded by the Metrobank Foundation.

The awardees comprise of four teachers, three soldiers and three police officers whose work helped nurture learners, protect communities, and strengthen public order.

Sen. Panfilo ‘Ping’ Lacson who sponsored the measure, lauded the awardees for their contributions to their respective fields. He likewise thanked them for their dedication to excellence and their service to their communities.

‘The ten outstanding Filipinos before us are a good reminder that we do not need the highest office in government to be catalysts for positive change. We do not have to be famous to be remembered. We do not have to wait for perfect circumstances before we start doing what is right,’ he said.

The Outstanding Filipino Teachers recognized were Emmanuel D. Guarde, PhD, of Cornelio Lintawagin Memorial Elementary School in Naujan, Oriental Mindoro; Sheila Marie M. Amigo of Siay National High School in Siay, Zamboanga Sibugay; Cecilia O. Bucayong, PhD, of Central Mindanao University in Maramag, Bukidnon; and Jefferson A. Hora, PhD, of Mindanao State University-Iligan Institute of Technology in Iligan City, Lanao del Norte.

Meanwhile, the Outstanding Filipino Soldiers recognized were Staff Sergeant Joebelle O. Cerdinio (SC) PA, Staff Sergeant John Daren P. Noche PAF, and Lieutenant Colonel Rommel M. Geli PN(M).

The Outstanding Filipino Police Officers recognized were Police Master Sergeant Dwight Alexis B. Supsupin, Police Major Baby Rose P. Cajulao, and Police Lieutenant Colonel Robert R. Mansueto.

The Metrobank Foundation Outstanding Filipinos program was established in 1985 to give recognition to individuals who serve above and beyond their call of duty.

The awardees were selected from a nationwide pool through a multi-stage process that included eligibility screening, document review, field validation, background investigations, and interviews. Teacher nominees also underwent live teaching demonstrations.

To date, the Metrobank Foundation Outstanding Filipinos program has recognized 735 Filipinos, including 392 teachers, 178 soldiers, and 165 police officers.

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PERMITS processed through the government’s Green Lane initiative took an average of 7.67 days to complete as of August, 11.45 days faster than the 19.12-day turnaround time prescribed under the Citizens’ Charters of government agencies.

Data from the Board of Investments (BOI) showed that 122 permits were processed under the green-lane initiative, with the average completion time representing a 59.9-percent reduction from the prescribed turnaround time.

The figures highlight how the Green Lane is being used not only to facilitate strategic investments but also to speed up the government approvals required by projects covered by the program.

Under the initiative, government agencies coordinate the processing of permits and licenses for strategic investments through a system designed to shorten approval timelines.

Meanwhile, the Green Lane’s investment pipeline remained unchanged as of August 31, with total strategic investments standing at P6.36 trillion, or about $111.93 billion. The projects are still expected to generate 425,454 jobs.

Renewable energy continued to account for the largest share of investments and projects under the initiative, with 187 approved projects worth P5.46 trillion and an estimated 276,469 jobs to be created.

Filipino investments made up the bulk of the pipeline, reaching P4.46 trillion or 70.09 percent of total investments as of end-August.

Among foreign investors, Denmark had the largest share at P472.46 billion, equivalent to 7.42 percent of the total. Singapore followed with P370 billion or 5.81 percent, while the Netherlands accounted for P367.84 billion, or 5.78 percent.

Switzerland contributed P317.07 billion, representing 4.98 percent of the total strategic investments covered by the initiative.

France, meanwhile, recorded the lowest investment total under the Green Lane initiative at P1.08 million, accounting for less than 0.01 percent of the total.

The Green Lane’s investment figures and job estimates were unchanged from the data reported as of July 31.

With a lack of proper waste management facilities, strained municipal budgets, and a growing mountain of plastic waste, local leaders and the community of Siquijor have called for support to address the growing plastic pollution problem now threatening the beauty of the island paradise.

‘A lot of waste has already been generated here in Siquijor, particularly single-use plastic bottles coming from Coca-Cola, Nature’s Spring, and other companies,’ Lhermie P. Areja, Municipal Environment and Natural Resources Officer (MENRO) of the Municipality of Siquijor, said in a statement. ‘We have been segregating and collecting their plastic packaging, but now we have nowhere to put them – our recovery facilities have already filled up. How can that be addressed, because the LGU is already completely overwhelmed?. What are we supposed to do? Where should we put them?’

The question prompted the local officials, community members, environmental experts, and tourists to identify workable, lasting solutions for the island’s waste crisis in a multi-sectoral forum organized by international marine protection group Oceana.

‘To their credit, Siquijor’s local officials have been diligently implementing waste segregation programs at the grassroots level-educating communities, setting up materials recovery facilities, and pushing for discipline at the barangay level. Yet despite these earnest efforts, the sheer volume of single-use plastics flooding the island far exceeds their capacity to deal with and manage them responsibly. Even with segregation in place, the residual plastic waste continues to pile up-a stark testament that no amount of local discipline can fully solve a crisis created by continuing plastics use and production,’ Froilan Grate, Executive Director of Global Alliance for Incinerator Alternatives (GAIA) said.

GAIA is a worldwide network of over 1,000 grassroots groups and organizations in 92 countries working to stop waste incineration and promote zero-waste solutions.

For years, the province’s local governments have been burdened with the escalating costs of managing waste generated largely by tourists and the fast-moving consumer goods companies that supply them, despite earlier initiatives to reduce single-use plastics on the island. A recent Waste Assessment and Brand Audit (WABA) conducted by Mother Earth Foundation (MEF), Oceana, and Break Free from Plastic (BFFP) paints a clear picture: while over 70% of the island’s waste is biodegradable and easily addressed through composting and use of biodigesters, a stubborn and visually damaging portion consists of single-use plastic packaging from major corporations like Coca-Cola, Philippine Spring Water (Nature Spring), Nestlé, Asia Brewery (Absolute, Summit), Universal Robina Corporation, PepsiCo, and PandG.

This situation has prompted calls from forum participants to demand that the very companies responsible for the plastic polluting the island be the ones to take their plastic garbage out of Siquijor. Under the country’s Extended Producer Responsibility Act (RA 11898), these companies are legally obligated to collect and divert the plastic packaging they place into the market.

‘Yet in practice, islands like Siquijor are routinely overlooked, leaving LGUs to shoulder a financial and logistical burden they were never designed to carry alone-and pushing some to consider costly, high-tech fixes that may do more harm than good, such as thermal Waste to Energy [WTE] facilities,’ said Miko Aliño, Asia Pacific Program Coordinator of the global Break Free from Plastic (BFFP) movement.

Recognizing this dilemma, participating agencies and organizations in the forum, including local parish representatives, civil society organizations, and experts from the academe -offered a sobering but constructive caution against pursuing thermal Waste-to-Energy (WTE) incinerators. Experts advised local officials that such facilities would not only incur crippling operational debt but also risk releasing toxic emissions and ash that could further degrade the island’s pristine environment-ultimately repelling the very tourists who sustain its economy.

‘By releasing toxic emissions that will impact the health of communities and tourists, WTE incineration will destroy Siquijor’s reputation as an island of healing and traditional healers. The pollution associated with WTE will also persist in the environment and affect generations yet unborn,’ said Dr. Jorge Emmanuel, a world-renowned scientist who has evaluated dozens of WTE incinerators from around the world.

Learning from Quezon City’s experience in implementing reuse and refill initiatives, the participants recommended a more practical, affordable, and locally empowering pathway to curb the plastic waste problem: the adoption of reuse and refill practices and policies tailored for Siquijor’s growing tourism and hospitality sector. Unlike incineration, these zero-waste strategies protect the island’s natural assets, generate clean and decent local jobs in tourism, logistics, and refilling, and keep investments circulating within the provincial economy.

‘With this, our LGU, especially the Office of Environment and Natural Resources, is committed to work with reuse systems’ said Areja. ‘Kasi nakita po namin iyan na isa po sa mga solusyon para maiwasan ang pagdagdag ng plastic bottles.’

Siquijor saw a 17% increase in tourists between 2024 to 2025, from 241,529 to 282,269, according to Krisma Rodriguez, Negros Island Regional Director of the Department of Tourism. She emphasized that protecting Siquijor’s unspoiled image is not just an environmental issue but an economic imperative.

‘A growing tourism economy naturally increases consumption and waste generation. Unless this growth is managed carefully, the very resources that attract visitors can gradually become the casualties of our own success,’ said Rodriguez.

‘Tourists come here for the beaches and clear waters, not floating sachets and plastic trash. Investing in reuse and refill infrastructure is the surest way to safeguard the beauty of the island, protect local livelihoods, and keep Siquijor competitive as a premier destination,’ said Von Hernandez, Vice President of Oceana.

‘We urge the immediate institutionalization of reuse and refill systems across the island, transforming the current crisis into an opportunity for Siquijor to lead the way in sustainable island tourism-without bankrupting its people or burning its future,’ he added.

The forum Taking Back Paradise was organized by Oceana, in partnership with the Mother Earth Foundation and BFFP, with the support of the Department of Tourism and GAIA.

THE rules-based international order is under growing strain as authoritarian states seek to weaken its safeguards and reshape international rules to serve their own interests. Even the fundamental principles of peaceful settlement of disputes and the prohibition against the threat or use of force, enshrined in the United Nations Charter, have been openly challenged and flagrantly flaunted.

Today, the international community stands at a critical juncture. Either we act together to uphold justice, defend the rule of law, and maintain peace and security, or we watch the world order steadily crumble away, taking freedom, self-determination, and democracy with it.

There are few places where this choice is more starkly presented than in the first island chain of the Indo-Pacific. The region’s security has come under growing pressure from China, which continues to deploy gray-zone tactics-including military intimidation, cyber intrusions, and economic coercion-in an attempt to reshape the existing rules and norms unilaterally.

Standing on the front line of defense of freedom and democracy, Taiwan will continue to uphold the status quo firmly. However, preserving peace and stability in the region is not just in its interests-it is a shared concern of the international community.

A force of good

THE Taiwan Strait is one of the world’s busiest shipping lanes and a major artery for international supply chains. Its significance to global security and prosperity is reflected in statements from the G7 and other summits and ministerial-level meetings among Japan, the United States, the United Kingdom, Australia, New Zealand, and other countries. They make up a growing chorus of voices worldwide that underline the importance of cross-strait peace and stability.

China’s deliberate misrepresentation of United Nations General Assembly Resolution 2758 also undermines the integrity of the rules-based order. Adopted in 1971, the resolution addresses China’s representation at the UN. The text does not mention Taiwan, determine its political status, or address its participation in the UN system. Yet China has conspired to conflate the resolution with the so-called ‘one China principle’ and use the resolution to block Taiwan’s participation in the UN and other international organizations. If left unchecked, this distortion could set a dangerous legal precedent and serve as a pretext for future military action across the Taiwan Strait.

Despite its exclusion from the UN, Taiwan is determined to act as a force for good. Taiwan’s strengths in advanced manufacturing, disaster preparedness, and public health could contribute to the international community in many ways.

Taiwan has pursued an integrated and value-added foreign policy based on strengthening democratic alliances, promoting collective security, and building economic resilience. Working with like-minded partners, it advances democracy, human rights, and freedom worldwide. As a leader in semiconductors, artificial intelligence, and technology, it is committed to building supply chains that are secure, resilient, and free from dependence on authoritarian regimes.

Standing ready

THROUGH its Diplomatic Allies Prosperity Project, Taiwan fosters coprosperity with its partners. It contributes expertise and resources to technology-driven projects with its diplomatic allies to address development challenges and strengthen local capacity. Concrete examples include collaboration on an integrated healthcare information system with Paraguay, the construction of a strategic oil reserve facility in Eswatini, and collaboration with Palau National Hospital on smart healthcare. These initiatives have strengthened data management and efficiency, bolstered energy security, fostered industrial growth, and advanced sustainable development.

President-elect of the upcoming 81st UN General Assembly, Khalilur Rahman, has made restoring trust and managing institutional transformation the overarching themes of his presidency. Taiwan shares these objectives and stands ready to help realize them.

Restoring confidence in the UN must begin with treating every member of the international community fairly and justly. Transformation cannot be complete while a constructive and trustworthy member remains unjustly excluded.

We are calling on the international community to uphold the principles of inclusiveness, leaving no one behind, settling disputes peacefully, and neither threatening nor using force. These imperatives underpin the rules-based international order and should be applied consistently and without exception.

The free world needs Taiwan-and a stronger, more credible UN needs its meaningful participation. Working hand in hand with Taiwan will strengthen collective security, enhance economic and technological resilience, and build our shared capacity to withstand authoritarian pressure. Ensuring Taiwan’s meaningful participation in the UN is therefore essential to building a more inclusive, secure, resilient, and rules-based international order.

EST Cola of Thailand saved its biggest statement for last as the visitors beat Nxled, 25-22, 25-21, 25-19, to capture the Premier Volleyball League Invitational crown before a highly-appreciative crowd on Tuesday night at the Smart Araneta Coliseum.

Papatchaya Phontham, Nannaphat Moonjakham and Nirarach Srikuta again stood at the forefront for EST Cola which became the second foreign squad to win the Invitational after Japan’s Kurashiki Ablaze defeated Creamline in 2023.

The triumph came after one hour and 28 minutes for the 20-and-under team that finished fourth in its 2024 PVL Invitational debut.

Phontham came away with 15 points, Moonjakham added 11 and Srikuta finished with seven as the trio combined for 33 points to underscore EST Cola’s balanced scoring.

Nattharika Wasan chipped in nine points, Sasithorn Jatta had six and Natnicha Saelao contributed four points on top of 19 excellent sets as EST Cola dominated Nxled in attacks, 45-34.

The power-hitting, high-flying Phontham capped her week-long heroics by becoming the first guest team Most Valuable Player.

Jonah Escamillan paced Nxled with 11 points, while Myla Pablo finished with 10 and MJ Phillips and EJ Cariño added nine and six points, respectively.

EST Cola dropped its opening-day assignment, then swept its next four matches against some of the most established teams in the tournament.

The Philippines assured trade partners that its rice tariff system, which adjusts to international price movements, ensures transparency and predictability.

In a response to queries to the Philippines’s 6th Trade Policy Review (TPR) at the World Trade Organization (WTO), Manila said Executive Order (EO) 105 introduced a rules-based mechanism wherein rice tariffs adjust automatically within a defined band of 15 percent to 35 percent effective 2026.

‘This approach ensures transparency and predictability for trading partners, while allowing the Philippines to respond in a timely and calibrated manner to global market developments and domestic food security needs,’ the Philippines said, in reply to questions from the European Union.

During the country’s 6th TPR, the EU asked how the variable tariff system introduced this year could ensure predictability for trading partners.

Manila also said adjustments are made on a quarterly basis and rely on publicly available price data, with published schedules for tariff changes.

The Philippines told trade partners like Malaysia that it could balance food security objectives with market liberalization triggered by the Rice Tariffication Law (RTL) through the adoption of a ‘calibrated approach.’

Manila said officials are closely monitoring market movements and activate appropriate measures when predefined trigger points are reached.

‘This ensures that adequate supply is maintained in the domestic market, while avoiding excessive imports that could adversely affect local producers,’ it said.

‘Through this approach, the Philippines seeks to safeguard both consumer welfare-by ensuring stable and affordable food supply-and the livelihoods and incomes of domestic farmers.’

EO 105 issued by the Philippine government came into force early this year. It stipulates that tariffs will be adjusted by 5 percentage points per 5 percent adjustment in international prices.

At present, the tariffs levied on rice remain in status quo, which is 15 percent.

‘Market efficiency’

The Philippines stressed that the RTL improved market efficiency by replacing quantitative restrictions with a tariff-based import regime consistent with its WTO commitments.

Aside from helping stabilize domestic stockpiles, the country said it also generated tariff revenues that bankroll the Rice Competitiveness Enhancement Fund (RCEF), which aids in farm mechanization, credit assistance, high-quality seed development, and extension services.

The Philippines also said certain measures complement tariffication, such as the sourcing of rice buffer stocks by the National Food Authority (NFA) from local farmers and targeted interventions to address market disruptions.

‘These measures are intended to balance the interests of consumers and producers while ensuring an adequate and stable rice supply,’ Manila said, in response to questions from Phnom Penh.

In the medium-term, the Philippines said it will continue to implement a tariff-based rice import regime and monitor domestic and international market developments.

If deemed necessary, Manila said it would undertake ‘measures consistent with its international obligations to support food security, promote market stability, and enhance the long-term competitiveness of the domestic rice sector.’

Assistance

Meanwhile, Executive Secretary Ralph G. Recto said the Marcos administration’s rice program addresses the twin goals of providing free rice to nearly eight million vulnerable families nationwide and supporting Filipino farmers by buying their harvests.

Recto made the assurance as he led the distribution of 10 kilograms of rice each to 1,500 families in Quezon, Bukidnon and turned over Socio-Civic Projects Fund (SCPF) checks to all 464 barangays in the province.

The activity marked the first of four rounds of rice distribution in the municipality of Quezon under the Bawat Bayan Makikinabang Rice Distribution Program. Upon completion, 8,000 families in the municipality will each receive 10 kilograms of rice every two months.

‘Dala rin po namin ngayong araw ang rice program ng Pangulo para matiyak na walang Pilipinong magugutom. Sa buong Pilipinas, halos walong milyong pamilya ang makikinabang,’ Recto said.

‘At ang maganda sa programang ito, ang bigas na matatanggap ninyo ay galing mismo sa ani ng ating mga magsasaka,’ he added, underscoring that the program supports both vulnerable families and Filipino rice farmers.

The government has allocated P178 million in rice assistance for 261,000 families across Bukidnon, including P5 million for 8,000 beneficiaries in Quezon.

Recto said the program will not end after this year, citing the proposed P58.53-billion allocation for the Local Government Support Fund (LGSF) in the 2027 national budget.