Category: Philippine Star

Local shares advanced for a second consecutive session as bargain-hunting activities continued.

The bellwether Philippine Stock Exchange index rose by 0.39 percent or 23.89 points to end yesterday’s session at 6,076.22.

The broader All Share index was also in positive territory, settling at 3,668.63, 0.36-percent or 13.04-points higher.

Philstocks Financial research manager Japhet Tantiangco said the local market extended its climb as investors continued with their bargain hunting.

Tantiangco said the recent decline in the local long-term treasury yields amid the dovish outlook of the Bangko Sentral ng Pilipinas likewise continued to help the local bourse.

‘The positive cues from Wall Street also gave the market a boost,’ Tantiangco said.

Total value turnover improved to P6.17 billion from the previous day’s P4.92 billion. Foreigners were net sellers with net outflows at P345.88 million.

All sectors were in the green, except to services, which fell by 1.11 percent. Mining and oil posted the biggest increase at 2.41 percent.

Market breadth was positive as advancers battered decliners, 102 to 87, while 62 issues did not change hands.

ICTSI remained as the session’s top traded stock, declining by 1.47 percent to P537 per share. It was followed by BDO Unibank (up by 1.78 percent), Apex Mining (up by 5.15 percent), Meralco (up by 1.56 percent) and Ayala Land (up by 0.43 percent).

Most Asian stocks sank yesterday on fresh trade war worries after China imposed curbs on US units of a Korean shipbuilder, dealing a blow to hopes that a flare-up at the weekend had been settled.

Greg Slaughter said he is raring to go back to the PBA, four years after he last played in the league.

Slaughter, who last played in the PBA back in 2021 for the then-NorthPort Batang Pier, said that it is his ‘dream to come back’ to the PBA.

‘It’s been four years since I last played for the PBA. And I’ve missed it very much. I missed playing for the fans and competing in the top-level basketball league in the Philippines,’ he said.

‘A lot can happen in four years, and in truth, so much has: life experiences, growth and maturity. I’m older now and I am now the head of a family of five. I can honestly say that my life is great, but I also must admit, something has been missing,’ he added.

The 37-year-old center said that he is approaching ‘this new season in my life with humility,’ as he looked back and apologized on things he did wrong, including ‘miscommunications in the past that caused offense to an association that has been so good to me, an association that has made my dream of playing for a Filipino premier league come true.’

‘I am Fil-Am, but I have never felt more Filipino than when playing for the PBA. I’ve played elsewhere but nothing compares to playing for Filipino fans. They are the best in the world. Iba pa rin ang puso ng Pinoy,’ he said.

‘It is my dream to come back, and it is my dream for my family to see me proud of playing in the home court. I want my wife and children to watch me play basketball in the PBA again.

I want my three daughters to be proud of their father. I want them to grow up seeing me beam with pride in the PBA. To have a father who plays for the PBA is a legacy I want for my children.’

After being drafted first overall in the 2013 PBA Draft, he played for the Gin Kings until 2020. In March 2021, he was traded to NorthPort.

He then left the league in 2022 as he signed with the Rising Zephyr Fukuoka in the Japan B2 league.

In 2024, he returned to the Philippines and played in the MPBL.

‘Basketball is my favorite sport. I love it very much. It’s my life. I want to end by promising to everyone here and all the PBA fans everywhere that from here on, I will do my best and give my all in every game, and that you can all expect a more seasoned player,’ he said.

‘The PBA for me is family, the PBA for me is home.’

Slaughter’s PBA rights remain with the now-Titan Ultra Giant Risers.

Jemaica Yap Mendoza, a 14-year-old Woman FIDE Master from Sta. Rosa, Laguna, is on the cusp of achieving a rare and historic feat in Philippine chess – become a world champion.

Mendoza came tantalizingly close to achieving such a feat after beating Azerbaijan’s Saadat Bashirli to reclaim the solo lead after the 10th and penultimate round of the girls’ Under-14 section of the World Youth Championships in Durres, Albania Tuesday.

The Eastern Asia Youth Championship gold winner outlasted Bashirli in 61 moves of their Ruy Lopez duel despite losing a pawn in the middle game and being threatened with a dangerous queenside passed pawn.

But Mendoza, a protégé of Olympiad veteran Shania Mae Mendoza, miraculously found a way as her Azeri foe wilted under pressure and blundered a piece in the end that allowed the wily Filipina extract the full point.

This put her one step closer to claiming the world title and the distinction as the first to win in this event.

But she has to come through again versus third seed WFM Polina Smirnova, a Russian who represents FIDE, in the final round Wednesday night.

Mendoza currently has 8.5 points, or half a point ahead of Smirnova and Uzbekistan’s Rukiya Olimova.

Mendoza actually held that solo lead after the seventh round but she fell to Serbian WFM Vera Vujovic in the eighth and lost it.

She, however, quickly bounced back from it with two straight wins including this one over Bashirli.

University of Batangas and Immaculada Concepcion College launched their title-retention bids in grand fashion after blasting their rivals at the start of the volleyball competitions in the 2025 PG Flex-UCAL Season 8 on Tuesday, October 14, at the UB Millennium Gym in Batangas City.

The UB Brahmans banked on the deadly duo of Christian Briones and Prince Ramirez to beat the Centro Escolar University Scorpions, 25-18, 25-20, 25-17, while the ICC Lady Blue Hawks demolished Philippine Christian University-Dasmarinas Lady Dolphins, 25-16, 25-17, 25-16.

The power-hitting Ramirez scattered 13 points on 12 attacks and a service ace, but it was Briones who emerged as the Player of the Game with his creative plays and timely attacks. Briones tallied 13 excellent sets apart from logging in five points on three attacks, one block and an ace.

For the Lady Blue Hawks, it was Jehiel Moraga who stood out by firing 12 points highlighted by three blocks and an ace.

But the day belonged to ICC’s Gio Devosora, who exploded for 28 points on 24 attacks, two blocks and the same number of services aces in the team’s remarkable reverse sweep win over Philippine Christian University-Dasmarinas, 21-25, 16-25, 25-20, 26-14, 15-10.

Other opening-day winners in the distaff side were Centro Escolar University, Olivarez College and Lyceum of the Philippines University-Batangas, while in the men’s side were Manila Central University and LPU-Batangas.

The CEU Lady Scorpions drew 19 points from Lourdes Cinco to outlast UB Lady Brahmans, 16-25, 25-22, 25-15, 25-23, while Lovelee Hernandez delivered 14 points in LPU-B’s 25-9, 23-25, 28-26, 25-17 win over Philippine Women’s University.

Devosora was ably aided by Mark Nacor, who scattered 12 points in the league backed by Akari, Smart Sports, Spalding, Hapee Toothpaste, Mighty Bond, Quintana Sports, Vital Purified Drinking Water, Topflite, Crane and Maruyama, CafeFrance and RC1 Lubricating Spray.

The Dasmariñas City Monarchs moved closer to a first-round sweep by fending off the San Juan Lady Knights, 25-17, 25-19, 20-25, 25-10, in Week 4 of the 2025 Maharlika Pilipinas Volleyball Association (MPVA) on Monday night at the Cuneta Astrodome.

Samantha Catanda, former UAAP juniors MVP and incoming rookie in UAAP Season 88 women’s volleyball tournament, sizzled with 18 points to spearhead the barrage as the Monarchs extended their unbeaten run to five games.

Natasha Kaye Bombita added 13 points while Abegail Pono and Denesse Daylisan had nine and seven points, respectively, for the Monarchs backed by back-to-back UAAP and three-time SSL champion National U Lady Bulldogs.

San Beda imposed its full might on Emilio Aguinaldo College, fashioning out a savage 81-64 victory yesterday that propelled the Red Lions to the top of Group B in NCAA Season 101 at the Filoil EcoOil Arena.

Sensational rookie Agjanti Miller continued his magnificent season, leading the Lions to their third win in four starts with 14 points and nine rebounds despite playing off the bench.

With the win, San Beda jumped back at the helm of the second bracket with St. Benilde.

The victory also erased the stigma of a stunning 67-66 defeat to Jose Rizal U last Friday that sent San Beda to its first defeat.

The Generals stumbled to 1-3.

Earlier, T-mc Ongotan unleashed a triple-double effort of 13 points, 10 rebounds and 10 assists as Arellano U smashed Lyceum of the Philippines U, 92-65, to improve to 2-2. The Pirates sank to 0-4.

Underscoring the lively and vivid dynamism of the Olympic sport, ‘Leap High, Flip Strong!’ was chosen by the Gymnastics Association of the Philippines as the slogan for the 3rd Artistic Gymnastics Junior World Championships opening at the Manila Marriott Hotel Grand Ballroom in Pasay City next month.

”Leap High, Flip Strong!’ is more than just a campaign slogan. It’s a rallying cry of our 24-million Filipino youth to mount a leap of faith especially in these challenging times, and to explore and soar high in search for growth and development,’ stressed GAP president Cynthia Carrion.

‘The slogan cultivates a positive mindset, encouraging people to believe in themselves and their abilities,’ said the gymnastics chief, who has taken the sports to unprecedented heights since taking over the local gymnastics body more than a decade ago.

Sen. Francis Escudero, through his counsel, defended the P30-million donation he received from a top flood control contractor for his 2022 Senate comeback bid.

Escudero submitted his response to the show-cause order issued against him by the Commission on Elections (Comelec) investigating the propriety of receiving a contractor’s money for his campaign.

‘We’re filing our submission early to respect the Comelec process. Our position is clear: the donation was legal, fully declared and follows long-standing practice,’ Escudero’s legal counsel Ramon Esguerra said.

‘The law is on our side, and we are confident the Comelec will find no fault,’ he added.

Escudero and his campaign donor Lawrence Lubiano of Centerways Construction and Development Inc. were summoned by the Comelec to explain their side for alleged violation of the election code.

The Omnibus Election Code prohibits government contractors from joining political partisan activities and donating money to candidates.

Escudero’s campaign donation was also the subject of an ethics complaint filed against him at the Senate by lawyer Eldrige Marvin Aceron.

Aceron alleged that Lubiano’s Centerways bagged 112 contracts worth P16.67 billion in Escudero’s turf Sorsogon from 2021 to 2025 as a result of the campaign donation. Escudero served as Sorsogon governor from 2019 to 2022.

Aceron also alleged that Centerways secured only 12 contracts worth P720 million in 2021, but this ‘escalated dramatically’ to P15.9 billion worth of contracts from 2022 to 2025, or after the P30-million donation to Escudero.

Escudero denied impropriety in accepting a personal donation given by a friend. Lubiano for his part said he donated the money in a personal capacity.

Swedish home furnishing giant IKEA is opening its second official branch in the Philippines in partnership with the Ayala Group.

IKEA will open its first Plan and Order Shop in the Philippines at TriNoma Mall on Oct. 23, bringing its affordable and sustainable design closer to northern Metro Manila residents.

‘We are now getting closer to the many more Filipinos, especially in the north of Manila. This partnership between IKEA and Ayala Malls allow us to create spaces that are accessible, convenient and inspiring,’ IKEA Philippines country retail manager Ricardo Pinheiro said.

‘IKEA Plan and Order Shop is one of the most recent formats we have. It’s actually a shop where customers can order the full IKEA range. It is also a shop where customers can plan their home solutions. It’s also a shop where customers can actually collect their online orders’ he said.

Pinheiro said the Plan and Order Shop format is currently available in other IKEA sites globally like London, Paris, Stockholm, Spain and Portugal.

‘We are opening more and more, but they are not very old. So it’s quite a recent format that we are still testing,’ he said.

The first IKEA Plan and Order Shop in the Philippines will be a 500-square meter store located at the ground level of TriNoma Mall.

Pinheiro said that total investment for the store ranges from P30 million to P35 million.

The shop features small scale store with room vignettes and products that shoppers can purchase in-store and also functions as a free collection point for online orders.

It is also a space for customers to plan their dream kitchens, wardrobe and storage cabinet with the same expert guidance as offered from IKEA’s store in Pasay City.

The IKEA Plan and Order Shop aims to make affordable home furnishing even more accessible to shoppers from every corner of Metro Manila.

‘For now, we are very committed to make this one a success. Based on the success of this one, we will decide if we will open more in different locations or not,’ Pinheiro said.

Ayala Malls chief operating officer Paul Birkett said the opening of the IKEA Plan and Order Shop matches the ongoing refresh being undertaken at TriNoma.

‘It’s really critically important that this first ever Plan and Order point in the Philippines, it’s the new retail format that brings the IKEA brand closer to consumers. It combines the convenience, the access, the innovation, but more importantly, the exceptional products. We give people another reason to visit TriNoma,’ Birkettt said.

Pinheiro said the plan for IKEA Philippines for expansion moving forward is to explore both large store as well as the small scale Plan and Order Shop formats.

‘For IKEA, it’s not one or the other. It’s one and the other. So we are looking to both formats as a way to get closer to the many Filipinos. Our country is so big and its so scattered around so many different islands and cities that we believe we need to explore both options of bigger store like Pasay and smaller Plan and Order shops like in Quezon City,’ he said.

Asked about plans to open an IKEA store in SM Megamall, Pinheiro said: ‘It’s not part of our plans in the near future.’

IKEA opened its first store in the country in 2021 at the Mall of Asia Complex in Pasay, which is currently the biggest IKEA store in the world.

Companies in the Philippines are projecting only modest pay increases next year despite facing the steepest employee turnover rates in Southeast Asia.

The 2025 Salary Increase and Turnover Study by British-American consulting firm Aon projects an average 5.3% salary increase across Southeast Asia in 2026, signaling a stable but cautious compensation outlook as firms confirm a region-wide retention crisis and widening skills gaps.

‘The 5.3% regional average reflects stable growth but underscores that competitive pay alone is no longer enough to retain skilled employees,’ Aon said in its analysis.

The study analyzed data from more than 700 companies across six Southeast Asian markets, including Indonesia, Malaysia, Singapore, Thailand, Vietnam, and the Philippines.

The study shows that while most countries in Southeast Asia are keeping pay hikes moderate, Vietnam leads the region with a projected 7.1% salary increase next year, followed by Indonesia at 5.9%.

By contrast, Singapore and Thailand are among those keeping a tighter rein on compensation growth, with average increases of 4.3% and 4.7%, respectively.

Philippine companies’ dilemma

In the Philippines, salaries are expected to rise moderately by 5.2% in 2026, which is slightly lower than this year’s 5.3% increase. The rate just sits below the regional average.

The country, however, is seen to have highest attrition rates in the region entering 2026, as one in five employees is expected to voluntarily leave their companies.

This projected 20% attrition rate in the Philippines surpasses Singapore’s 19.3% and Malaysia’s 18.2%, underscoring a growing challenge among Philippine employers to hold on to skilled staff amid rising job mobility across industries.

Sectors most affected include information technology, sales, engineering, and cybersecurity, where global demand for digital talent continues to pull Filipino workers toward better-paying opportunities abroad and in multinational firms.