Category: Philippine Star

The local stock market advanced for the second straight session as investors continued to take advantage of affordable share prices following a recent seven-day slump.

The benchmark Philippine Stock Exchange index closed yesterday’s session at 6,039.76, higher by 0.23 percent or 13.73 points.

The broader All Shares index also improved by 0.13 percent or 4.67 points, finishing at 3,659.29.

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

‘The positive cues from Wall Street driven by Fed rate cut hopes help in Thursday’s session,’ he said.

All sectors were in the green, except for property which declined by 1.2 percent.

Total value turnover thinned to P5.56 billion from the previous day’s P6.8 billion.

Foreigners were net sellers with net outflows at P762.05 million.

Market breadth was negative as decliners edged out advancers, 95 to 89, while 65 issues were unchanged.

ICTSI remained as the session’s most actively traded stock, ending flat at P486 percent, followed by BDO Unibank and Ayala Land which dropped by 0.22 percent and 1.64 percent, respectively, to P138 and P24.

Among index members, SM Investments recorded the highest jump with a 2.03-percent increase, while SM Prime lost the most, declining by 2.18 percent.

The United Nations expressed solidarity with the Philippines following the 6.9-magnitude earthquake in Cebu, warning that hospitals in the province are overwhelmed and urgent aid is needed.

Shelter, clean water, and medical access remain top priorities, the UN said.

The World Health Organization, meanwhile, noted that Cebu hospitals attending to more patients than they have capacity for.

‘Hospitals report being overwhelmed with the injured. Our [World Health Organization] Philippines Country Office is there to support the government-led health response in whatever way is needed,’ said Saia Ma’u Piukala, WHO Western Pacific Regional Director.

Local hospitals were forced to evacuate patients during the quake, further straining healthcare operations.

Piukala said the Philippines and 37 other Western Pacific countries remain highly vulnerable to earthquakes and other disasters, with climate change worsening the risks.

‘Emergency preparedness protocols and mechanisms have been significantly strengthened across our Region in recent years,’ he added.

In a separate statement, the UN offered sympathies to the Philippines after the deadly quake, which came just days after a cyclone.

‘In moments of crisis, unity and compassion are our greatest strengths. The United Nations reaffirms its commitment to stand with the people of the Philippines and to help build back stronger, safer, and more resilient communities,’ the UN said.

Authorities have revised the official death toll from 72 down to 69. At least 559 people were injured and 366,630 others affected. The entire province has been placed under a state of calamity, with thousands still displaced.

A pivotal solo lead is up for grabs for National University as it eyes to preserve a spotless start against no less than reigning champion UP dealing with a surprising struggle in the UAAP Season 88 men’s basketball tournament Saturday at the UST Quadricentennial Pavilion in Manila.

Action sizzles at 4:30 p.m. for the main game of the twin-bill that also features UST’s goal for a quick rebound, after losing to NU in the duel between unbeaten squads, against the winless UE at 2 p.m.

The Bulldogs currently share the pole position with Ateneo at 3-0 in a massive turnaround for both squads after finishing at the bottom last season, potentially pushing them into an even better position midway through the first round with another big win against the Fighting Maroons.

And NU has all the confidence to do the feat, riding on two blowout wins against Far Eastern University, 84-68, and UE, 72-57, laced by a 76-69 comeback versus UST, which beat top title contenders UP and La Salle.

”Yung character kasi, hindi na para kuwestiyunin ko sa mga players ko,’ said head coach Jeff Napa as NU solved the puzzle of super rookie Tiger Collins Akowe, who bled for just five points and eight rebounds after a torrid 24.5-point, 18-rebound average in the first two games.

‘But we don’t have time to celebrate as we’re up against another top contender in UP. We have to be ready.’

A stark contrast to NU is UP’s flat start to its title defense after losing to UST in a blowout and to Adamson via a buzzer-beater.

The Fighting Maroons finally entered the winner’s circle with a 92-75 drubbing of the Red Warriors, but coach Goldwin Monteverde wants more from his young unit following the graduation of longtime leader JD Cagulangan, Quentin Millora-Brown and Francis Lopez if they wish to win a second straight crown.

“I guess winning this game in this way would make us realize that it’s very important to play together. It’s not just about talent, it’s about having a quick intuition on making decisions din,” said Monteverde.

‘Win or lose, ang mindset namin is to improve everyday kung ano pa ba pwede naing pagandahin. Of course going towards NU, we will be prepared with the same mindset.’

From 12, coach Tim Cone’s Gilas Pilipinas Men will now work with an expanded 16-man pool for next month’s FIBA World Cup Asian Qualifiers.

Quentin Millora-Brown has received his first call-up after his reclassification as a local player while Kai Sotto, though still recovering from ACL, has been reinserted into Gilas’ roster for the back-to-back opening window matches against Guam on Nov. 28 and Dec. 1.

Cone has also tapped naturalized player Ange Kouame and guard RJ Abarrientos to join QMB, Sotto and the core mainstays Justin Brownlee, Calvin Oftana, Chris Newsome, June Mar Fajardo, Scottie Thompson, Dwight Ramos, CJ Perez, Japeth Aguilar, Kevin Quiambao, Carl Tamayo, Jamie Malonzo and AJ Edu in the training crew.

‘Continuity is still the main priority of coach Tim Cone but we saw it fit to add a couple of pieces to the training pool,’ Samahang Basketbol ng Pilipinas president Al Panlilio said in a statement.

Kapamilya star Daniel Padilla attended the 2025 Seoul International Drama Awards to receive his Outstanding Asian Star award.

According to a report by ABS-CBN, Daniel walked on the red carpet in the KBS Hall in Seoul, South Korea wearing pinstripe suit by Ryan Viloria and Gekko Studios.

“Awkward, daming tao,” Daniel said. “Siyempre, yun naman ang pinunta natin dito. Okay naman!”

Daniel received the Outstanding Asian Star award with fellow recipients Film Mahawan from Thailand, Kentaro Sakaguchi from Japan, and Anna Jobling from Malaysia.

Also winning the award as determined by fan votes were Jisoo of Blackpink, fellow Korean star Kim Seon-ho, and Chinese actor Yu Bai.

In his acceptance speech, Daniel thanked his ABS-CBN executives, fans who voted him, and his “Incognito” team, even mentioning each of his co-stars.

“I’m truly honored to be here tonight to receive this award, thank you so much Seoul International Drama Awards for this recognition,” Daniel said in his speech. “I also want to thank my friends and my family for their endless support and unconditional love. Mama, I made it.”

“And to all the fans, thank you for your continuous support and unwavering love. You are the reason why I’m here. Thank you so much,” Daniel ended.

The biggest winner of this year’s Seoul International Drama Awards was Netflix hit “Adolescence” as it took home the Grand Prize, Best Director for Philip Barantini (jointly winning with Hirokazu Kore-eda for “Asura”), and Best Actor for Owen Cooper.

Apple TV+ also had a big night as “Severance” creator Ben Stiller won the Golden Bird Prize and writer Dan Erickson won Best Screenwriter, “Pachinko” won Best Miniseries, and “Disclaimer” star Cate Blanchett shared the Best Actress award with “Pachinko” star Kim Min-ha.

Netflix shows “The Trauma Code: Heroes on Call” and “When Life Gives You Tangerines” shared the Outstanding Korean Drama award as its stars Ju Ji-hoon and IU won the acting categories.

Completing the winner’s list were Korea’s “The Son” for Best TV Movie, Turkiye’s “The Good and The Bad” for Best Series, and Young Tak’s music in “For Eagle Brothers” for Outstanding Korean Drama Original Soundtrack.

The first-ever parliamentary election in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) has been rescheduled to March next year, according to the Commission on Elections.

The Comelec said the postponement was due to a ruling of the Supreme Court (SC) declaring laws pertinent to the redistricting of the BARMM as unconstitutional.

‘There will be a Bangsamoro parliamentary elections, the first in history, to be conducted on March 31,’ Comelec Chairman George Garcia announced at a press conference yesterday.

Meanwhile, Malacañang said it respects the SC ruling that voided the Bangsamoro Autonomy Act 77, which mandates the redistricting of the BARMM, and the BAA 58, which provided for the creation of parliamentary districts.

‘The Office of the President recognizes that this ruling is a pivotal step in ensuring that the first Bangsamoro parliamentary elections will be conducted on the firmest constitutional and legal foundations,’ Malacañang said in a statement released on Wednesday night.

The government vowed to support all constitutionally mandated institutions to ensure that the democratic aspirations of the Bangsamoro people are realized within the framework of the Constitution and the Bangsamoro Organic Law.

After declaring the BAA 77 and BAA 58 unconstitutional, the high tribunal ordered the Bangsamoro Transition Authority (BTA) to pass a new law distributing the parliamentary districts by Oct. 30, and the Comelec to conduct the BARMM elections not later than March next year.

Garcia said the Comelec does not intend to appeal the SC decision and will comply with the order.

While the redistricting is left to the discretion of the BTA, Garcia said the poll body is ready to help and cooperate for the passage of a new law.

He said the Comelec has five months to prepare for the BARMM parliamentary election.

Garcia said the poll body is planning to hold the filing of certificates of candidacy in January and the ballot printing in February.

While waiting for the passage of a new law, Garcia said, the Comelec would take back all election materials including ballots that have already been deployed to the BARMM.

He said at least P1 billion including the P500 million for the printing of ballots had gone to waste due to the suspension of the Bangsamoro elections. ­

West Zone concessionaire Maynilad Water Services Inc. is among the companies expressing interest in acquiring Villar-owned PrimeWater.

Maynilad president and CEO Ramoncito Fernandez said the company is open to considering PrimeWater, should a potential sale by the Villar Group happens.

‘It is still part of the water industry. We are a company in the water sector. PrimeWater is also into water so it’s unlikely that we won’t take a look,’ Fernandez said.

Former senator Cynthia Villar earlier said that her husband, tycoon Manuel Villar Jr., wants to dispose of PrimeWater since it is only being used against them in politics.

PrimeWater, a subsidiary of Prime Asset Ventures Inc., has earlier faced complaints from consumers about its water services.

The company serves over 1.7 million households and treats more than 500 million liters of water daily.

Its service coverage spans from Tuguegarao in Cagayan Province, through Central Luzon, Metro Manila, Calabarzon, the Visayas and extends all the way to Davao City in Mindanao.

Maynilad, meanwhile, is the concessionaire of the government in providing water services in the West Zone of Metro Manila.

The company, which is slated to conduct an initial public offering next month, is jointly owned by Metro Pacific Investments Corp. (MPIC), DMCI Holdings of the Consunji family and Marubeni Corp. of Japan.

MPIC owns about 53 percent of the water utility firm, while DMCI and Marubeni hold 25 percent and 20 percent , respectively.

‘There is interest (in PrimeWater) because they are really a dominant player. They have a lot of different buckets because they are very extensive outside Metro Manila,’BDO Capital and Investment Corp. president Eduardo Francisco said.

‘So they’re a good asset. I guess the question there is the valuation,’ he said.

Loan growth in the Philippines eased to its slowest pace in nine months as lending to businesses moderated in August despite resilient consumer demand, according to the Bangko Sentral ng Pilipinas (BSP).

Preliminary figures showed that loans disbursed by universal and commercial banks, net of their reverse repurchase placements with the BSP, expanded by 11.2 percent year-on-year in August, slower than the 11.8 percent increase in July.

The August reading marked the weakest growth in nine months or since the 11.1 percent pace in November 2024. On a seasonally adjusted month-on-month basis, outstanding loans rose by just 0.4 percent.

Bank loans reached P13.62 trillion in August, higher by P1.37 trillion compared to the P12.25 trillion recorded in the same month last year.

The BSP monitors bank loans because these are a key transmission channel of monetary policy.

Bank loans to residents expanded by 11.6 percent, also slower than the 12.4 percent increase recorded in July. Meanwhile, loans to non-residents posted a smaller contraction of 5.9 percent from the 8.1 percent decline a month earlier.

Borrowings intended to finance production activities grew by 9.9 percent, decelerating from 10.8 percent in July.

The rise in disbursements to the volatile real estate sector quickened to 11 percent in August from 10.7 percent a month ago with P2.77 trillion, followed by the electricity, gas, steam and air-conditioning supply sector with a slower increase of 28.1 percent to P1.7 trillion.

The growth in loans extended to the wholesale and retail trade sector slowed to 8.1 percent with P1.51 trillion. Lending also increased for financial and insurance activities (6.9 percent) and information and communication (7.5 percent).

On the other hand, loans to the manufacturing sector fell by 5.5 percent to P1.21 trillion, although this was better than the 6.3 percent decline a month ago.

Consumer loans remained a bright spot, sustaining strong growth of 23.9 percent in August from 23.6 percent in July. The BSP noted that credit card, motor vehicle and salary-based loans continued to drive this segment.

Credit card loans soared by 29.7 percent to P1.07 trillion from P827.43 billion. Auto loans went up by 19.4 percent to P513.06 billion, while salary-based general-purpose consumption loans inched up by 6.4 percent to P164.5 billion.

‘Looking ahead, the BSP will ensure that domestic liquidity and bank lending conditions remain consistent with its price and financial stability mandates,’ the central bank said.

Separate BSP data showed that the growth in domestic liquidity stood at 6.6 percent in August, higher than the 6.2-percent increase in July. Money supply stood at around P18.6 trillion.

The knives are out and San Miguel Beer knows it can’t rest easy in its PBA Philippine Cup title def

‘Definitely, we’ll work hard to retain the championship but alam namin mahirap ngayon, marami nang teams na lumakas. Hopefully we can defend the crown,’ SMB team governor Robert Non said during the recent presscon for the 50th season.

He mentioned how TNT, runner-up in the Season 49 All-Filipino, has welcomed back its injured players who were missing in the previous tournament for another shot at the crown jewel.

Aside from the usual suspects, Non also noted the threat he expects from ‘darkhorse’ Converge, Rain or Shine and Magnolia, now under former Ginebra player LA Tenorio.

‘Dapat eh magising na sa katotohanan team namin, hindi pwedeng tutulog-tulog na ngayon, ang daming magagaling na,’ he said.

For Meralco, there’s an added motivation to wrest the crown back and get even with the very team that spoiled its title-repeat campaign last season.

‘Sila Robert (San Miguel) ang defending champion (now), kami yung dinethrone nila last season so we hope we can return the favor this year,’ said Bolts governor Atty. William Pamintuan, referring to the squad’s 97-108 loss to twice-to-beat SMB in the quarterfinals of the previous Philippine Cup that ended their reign.

Like Non, Pamintuan sees a tough road to Philippine Cup glory.

‘I think for 50th season, we’ll have a more competitive league, lahat ng teams dito lalaban talaga,’ he said.

‘If you follow the (pre-season) tuneup games, maraming surprises na pinakita si Blackwater and Terrafirma…Its’ going to be a very exciting season for PBA. Lalaban lahat ng teams, hindi lang Meralco.’

ROS, for its part, is fueled by the intense desire to break the ‘semifinal curse’ in the golden season.

‘After four successive semifinal appearances, including three last season, we’re more determined to play hard so that we may be able to play in the finals, maybe swertehin at mag-champion kami, iyun ang pangarap namin,’said Elasto Painters’ governor Atty. Mert Mondragon, whose team signed up free agent veteran Stanley Pringle and reactivated Beau Belga, now fully recovered from vertigo, for this campaign.

Typhoon Paolo made landfall in Dinapigue, Isabela on Friday, October 3, placing several areas in northern Luzon under Signal No. 4.

After crossing through northern Luzon, Paolo is set to emerge over the West Philippine Sea by afternoon or evening, according to PAGASA.

As it passes through land, it may weaken, but the state weather bureau said it may re-intensify once the cyclone reaches water again.

Paolo is packing maximum sustained winds of 130 kilometers per hour, with gustiness of up to 215 kph.

State meteorologists have warned affected areas of heavy rainfall, severe winds and storm surges.

Wind signals

Signal No. 4 (Wind speeds up to 184 kph)

Extreme northern portion of Aurora (Dilasag, Casiguran)

Southern portion of Isabela (Dinapigue, San Mariano, Palanan, Roxas, Burgos, Gamu, Naguilian, Benito Soliven, San Manuel, Cabatuan, Aurora, Luna, Reina Mercedes, City of Cauayan, San Mateo, Alicia, Ramon, City of Santiago, Cordon, San Isidro, Echague, Angadanan, San Guillermo, Jones, San Agustin)

Northern portion of Quirino (Diffun, Aglipay, Saguday, Cabarroguis, Maddela)

Northern portion of Nueva Vizcaya (Solano, Villaverde, Bagabag, Diadi, Quezon, Ambaguio, Bayombong)

Mountain Province

Ifugao

Southern portion of Abra (Tubo)

Northern portion of Benguet (Bakun, Mankayan, Buguias, Kibungan, Kapangan, Atok, Kabayan)

Southern portion of Ilocos Sur (Cervantes, Quirino, Gregorio del Pilar, Sigay, San Emilio, Salcedo, Burgos, Lidlidda, Banayoyo, San Esteban, Santiago, Galimuyod, City of Candon, Santa Lucia, Santa Cruz, Suyo, Alilem, Tagudin, Sugpon)

Northern portion of La Union (Luna, Bangar, Balaoan, Sudipen, Santol, San Gabriel, Bacnotan, San Juan)

Signal No. 3 (Wind speeds up to 117 kph)

Northern portion of Aurora (Dinalungan, Dipaculao)

Rest of Isabela

Rest of Quirino

Central portion of Nueva Vizcaya (Kasibu, Bambang, Kayapa, Aritao, Dupax del Norte, Dupax del Sur, Santa Fe)

Kalinga

Central portion of Abra (Boliney, Daguioman, Sallapadan, Bucloc, Licuan-Baay, Malibcong, Lacub, La Paz, San Juan, Lagangilang, Danglas, Lagayan, Tayum, Bangued, Langiden, Pidigan, San Quintin, Pilar, Luba, Manabo, Villaviciosa, San Isidro, Peñarrubia, Bucay, Dolores)

Rest of Benguet

Rest of Ilocos Sur

Rest of La Union

Signal No. 2 (Wind speeds up to 88 kph)

Southern portion of Cagayan (Peñablanca, Tuguegarao City, Solana, Iguig, Tuao, Piat, Rizal, Santo Niño, Alcala, Amulung, Enrile, Baggao)

Rest of Nueva Vizcaya

Southern portion of Apayao (Conner, Kabugao)

Rest of Abra

Southern portion of Ilocos Norte (Nueva Era, Badoc, Pinili, City of Batac, Paoay, Currimao, Banna, Laoag City, San Nicolas, Sarrat, Dingras, Solsona, Marcos, Bacarra, Piddig)

Northern portion of Pangasinan ( San Fabian, Sison, Pozorrubio, Umingan, San Jacinto, Laoac, Binalonan, San Nicolas, Natividad, Tayug, San Manuel, Asingan, Santa Maria, San Quintin, Dagupan City, Mangaldan, Manaoag, Bolinao, Anda, Bani, City of Alaminos, Sual, Labrador, Lingayen, Binmaley, Calasiao, Mapandan, Santa Barbara, City of Urdaneta)

Central portion of Aurora (Baler, Maria Aurora, San Luis)

Northern portion of Nueva Ecija (Carranglan, Bongabon, San Jose City, Pantabangan, Rizal, Lupao)

Signal No. 1 (Wind speeds up to 61 kph)

Rest of mainland Cagayan including Babuyan Islands

Rest of Aurora

Northern portion of Quezon (General Nakar, Infanta) including Polillo Islands

Camarines Norte,

Rest of Apayao

Rest of Ilocos Norte

Rest of Pangasinan

Rest of Nueva Ecija

Northern portion of Bulacan (Doña Remedios Trinidad, San Miguel, San Ildefonso, Norzagaray, San Rafael, Angat)

Tarlac, the northeastern portion of Pampanga (Magalang, Arayat, Candaba, Mabalacat City)

Northern portion of Zambales (Palauig, Masinloc, Candelaria, Santa Cruz)

Sea conditions

PAGASA has also raised a gale warning over several areas, warning sea travelers of strong waves caused by the typhoon.

Up to 7.0 meters: The seaboard of Isabela.

Up to 6.0 meters: The eastern seaboard of mainland Cagayan

Up to 5.5 meters: The seaboards of northern Aurora and Ilocos Norte

Up to 5.0 meters: The seaboard of Ilocos Sur; the remaining seaboard of Cagayan including Babuyan Islands

Up to 4.5 meters: The seaboard of La Union.

Up to 4.0 meters: The seaboard of Batanes; the western seaboard of Pangasinan.

Up to 3.5 meters: The seaboard of mainland northern Quezon; the northern and eastern seaboard of Polillo Islands

Up to 3.0 meters: The seaboard of Zambales and Camarines Norte; the remaining seaboard of Pangasinan

Up to 2.5 meters: The eastern seaboard of the rest of Quezon; the northern seaboard of Camarines Sur; the northern and eastern seaboard of Catanduanes.

Up to 2.0 meters: The seaboard of Lubang Islands; the western seaboard of Bataan