Category: Philippines Daily Inquirer

The benchmark Philippine Stock Exchange Index (PSEi) eked out a modest gain on Tuesday as cautious optimism over geopolitical developments lifted sentiment. Still, risk aversion trimmed gains.

The benchmark index inched up 0.04 percent or 2.67 points to close at 6,018.7.

Luis Limlingan said the Philippine market finished nearly unchanged as investors stayed cautious.

‘Sentiment was stable as the market looked for updates on the unclear status of peace talks, which continued to limit risk appetite,’ Limlingan said.

‘In addition, market participants are still looking to remain in a wait-and-see stance ahead of the Bangko Sentral ng Pilipinas’ upcoming interest rate decision,’ he added.

Philstocks Financial manager Japhet Tantiangco said the market stayed in positive territory on hopes that the United States and Iran could still reach an agreement before a ceasefire lapses.

Lingering uncertainties

However, Tantiangco noted that investors remained wary of lingering uncertainties, capping the advance.

Trading activity was moderate with net value turnover pegged at P6.64 billion.

Foreign investors continued to exit, posting net outflows of P311.95 million.

Sectoral performance was mixed. Conglomerates led the gains, climbing 1.04 percent, while services stocks dragged the market, falling 1.35 percent.

Market breadth was slightly positive with advancers outnumbering decliners, 106 to 90.

Among index members, JG Summit Holdings Inc. emerged as the top gainer, surging 5.95 percent to P28.50.

On the other hand, Ayala Land Inc. was the biggest laggard, declining 2.12 percent to P16.60.

Analysts said the market’s muted movement reflects a wait-and-see stance as investors monitor geopolitical developments and their potential impact on inflation and global growth.

Despite holding above the 6,000 level, sentiment remains fragile, with cautious positioning likely to persist until clearer signals emerge.

Executive Secretary Ralph Recto has called for the immediate accreditation of farmers and traders to the Department of Agriculture’s (DA) Food Lane Program, which provides reduced toll and port fees.

In a press release on Tuesday, he urged national agencies and local governments to assist truckers of farm produce in utilizing the initiative.

‘This begins with the speedy accreditation of farmers and traders who are qualified for the toll fee waiver,’ he said, as quoted in the press release.

‘Unnecessary and unreasonable stopping and inspection of food trucks by police and LGU checkpoints should also stop because it delays travel and wastes fuel,’ Recto remarked.

‘Highlighting that summer is harvest season, the Palace official said.

‘The challenge is to reduce the time and the cost for produce to land in the market, especially since these are perishable,’ he noted.

According to the executive secretary, the ‘toll and port fees holiday’ forms part of the ‘basket of initiatives’ the government is implementing amid the impact of the Middle East war.

Citing data from the DA, he said there are 1,162 private trucks presently accredited under its Food Lane Program.

This involves the transport of agricultural products from farms to markets, particularly in Metro Manila.

‘The DA’s goal is to encourage the 3,100 truckers previously registered to get their easy-to-renew accreditation,’ Recto said.

The month-long toll-free privilege on major expressways, facilitated by the Department of Transportation and the Toll Regulatory Board, took effect last Monday, April 20.

For its part, the Philippine Ports Authority slashed the roll-on, roll-off (Ro-Ro) terminal fees for vehicles transporting agricultural goods to ‘just one peso’ last April 10.

Two people were killed while 35 others were injured after a Manila-bound passenger bus plunged into a 32-foot-deep ravine on Monday night in Pagbilao, Quezon, police said.

The fatalities were identified only as ‘Sonny,’ 34, of Mercedes, Camarines Norte, and ‘Ian,’ 31, of Jose Panganiban, Camarines Norte.

Police said the DLTB bus, driven by a 54-year-old man identified as ‘Noel,’ had come from Daet, Camarines Norte, and was en route to Metro Manila when the accident occurred around 8 p.m.

Initial investigation showed that the bus was traversing a descending curve on a diversion road in Barangay Silangang Malicboy when it reportedly experienced brake failure. The driver lost control, causing the vehicle to veer off the road and plunge into the ravine.

The impact threw passengers forward, leaving dozens with varying injuries. They were rushed to two hospitals in Lucena City.

The two fatalities were declared dead on arrival at the Quezon Medical Center (QMC).

At least eight of the injured remained under treatment at MMG Hospital, while the rest were brought to QMC. Most were expected to be discharged.

The bus was carrying 41 passengers, including a second driver and a conductor. Two passengers had transferred to another bus earlier, while two others had already disembarked before the crash.

Police said the bus company has expressed willingness to reach an amicable settlement with the victims.

Human rights watchdog Amnesty International Philippines (AIPh) warned that the country stands at a ‘critical crossroad,’ calling on the government to act with urgency amid mounting concerns over shrinking civic space, persistent red-tagging, arrests of protesters, and the killing of journalists.

‘The Philippines stands at a critical crossroad. Democratic institutions are being eroded, civic spaces are shrinking, and millions of Filipinos, especially those on the margins, are bearing the cost of impunity, corruption, and authoritarian practices,’ said Ritz Lee Santos, III, section director of the AIPh at a press conference in Quezon City.

On Tuesday, the human rights organization officially launched ‘The State of the World’s Human Rights 2025/26’, also citing the detention of former president Rodrigo Duterte by the International Criminal Court over murder as a crime against humanity.On April 22, the Appeals Chamber of the ICC will issue its ruling on former President Duterte’s challenge to the court’s jurisdiction, which will determine whether the trial for crimes against humanity may move forward.

While Santos described Duterte’s arrest by the ICC as a ‘historic step toward accountability,’ he also said it ‘also exposes the failure of domestic mechanisms to deliver justice.’

‘Justice cannot be outsourced. It must be delivered at home,’ he emphasized.

Santos said they remain hopeful that the charges against Duterte will not be dismissed, given the evidence presented, adding that families of drug war victims continue to seek justice in the Philippines.

In the report, Amnesty also cited the September 21 arrest of over 200 protesters, including children, in Manila during anti-corruption protests.

The report included the deaths of press freedom advocate and former politician Juan Dayang, human rights defender and former broadcaster Ali Macalintal, and radio broadcasters Erwin Segovia and Noel Bellen Samar.

‘Beyond civil and political rights, millions of Filipinos continue to be denied economic, social, and cultural rights,’ said Santos, citing housing insecurity, inadequate healthcare, stagnant wages, and underfunded education systems.

Santos said corruption worsens inequality by redirecting resources intended to protect the most vulnerable sectors, particularly during climate-related disasters.

‘Civil society, human rights defenders, and grassroots movements remain at the forefront of the struggle for justice,’ said Santos.

‘At this critical moment, Amnesty International calls on the Philippine government and all governments to act with urgency and courage,’ he said, adding they must investigate all past and present human rights violations.

The Amnesty International Annual Report, available on their website, outlines the human rights situation in 144 countries worldwide.During the launch of the organization’s annual report in London, Secretary General Agnes Callamard denounced US President Donald Trump, Russia’s Vladimir Putin, and Israel’s Benjamin Netanyahu as ‘predators.’

The report said these leaders have turned away from the multilateral system established after World War II in favor of a direction ‘without moral compass,’ where conflict prevails over diplomacy.

In response to the ongoing Middle East conflict, Santos said, ‘Sadly, just to secure power and control over resources, government leaders would turn to authoritarian practices.’

‘Human rights are not an illusion. They are not optional, and they are not negotiable,’ Santos concluded.

PetroGreen Energy Corp. (PGEC) has begun injecting electricity to the power grid with the commissioning of its 25-megawatt (MW) solar park in Pangasinan.

The Yuchengco-led company said on Wednesday that the testing and commissioning of the Bugallon Solar Power Project started on April 18. This, after PGEC secured the necessary permits.

‘As important, the facility’s milestone meets the administration’s urgent imperative to bring more indigenous and renewable energy capacity online, especially during this period of energy supply instability,’ PGEC assistant vice president Dave Gadiano said in a statement.

The facility is part of a 111.6-MW line up of four utility-scale solar projects under Rizal Green Energy Corp. It is a joint venture of PGEC with Japan-based Taisei Corp.

Once the preoperational testing with the National Grid Corp. of the Philippines (NGCP) is done, the solar park will operate under a fixed 20-year tariff. This followed a win at the second round of the government’s green energy auction program.

In another development, PGEC said its 13.2-MW Nabas-2 Wind project in Aklan had obtained from NGCP last week the final certificate of approval to connect to the grid.

‘The facility’s impending commercial operation not only takes advantage of the DOE’s (Department of Energy) and NGCP’s ongoing reinforcement of the Boracay-Caticlan-Nabas transmission line where Nabas-2 is connected, but also ensures that tourism and business establishments in Boracay and Aklan get more clean power from our Nabas wind farm,’ Gadiano added.

The DOE said last week that visitors to tourist haven Boracay Island can soon expect ‘a more reliable and resilient’ electricity supply as the new P5.27-billion transmission project nears completion.

The DOE said the project, once operational, would help address rising demand for power, boost system reliability and entice private players to keep building renewable energy assets.

The project is among the seven developments NGCP targets to complete within the year.

Palace press officer Claire Castro on Tuesday said she was grateful that the public could see who was truly working and who was merely taking vacations, following President Ferdinand Marcos Jr.’s recent trust and performance ratings.

Based on OCTA Research’s Tugon ng Masa survey for the first quarter of 2026, 54 percent of respondents expressed trust in Marcos, and 55 percent expressed satisfaction with his performance.

‘The citizens can clearly see and feel what the government is doing for them. However, we will say it again: whether the president’s approval rating rises or falls, the president will continue to work,’ Castro said.

She also said, ‘He will not be affected by negative or positive approval ratings. But we are also thankful because people can see who is really working and who is just on vacation.’

Based on the survey, Marcos’ highest trust rating was recorded in Balance Luzon at 59 percent, while the lowest was in Mindanao at 45 percent.

Meanwhile, across major areas, Marcos’ performance ratings reached majority levels in all regions, highest in Balance Luzon at 57 percent and Visayas at 56 percent, and lowest in NCR at 53 percent and Mindanao at 51 percent.

The Land Transportation Office (LTO) has suspended for 90 days the license of the bus driver involved in a fatal road crash in Pagbilao, Quezon on Monday night.

In a Facebook post on Tuesday, LTO-Region IV-A said the preventive suspension was imposed ‘as an initial measure to ensure public safety while the investigation is ongoing.’

The LTO said the driver has been ordered to surrender his license during the scheduled hearing.

It added that the bus involved in the incident has been placed under alarm status, prohibiting its use, sale, or transfer without LTO authorization.

Police earlier reported that two male passengers died while 35 others were injured after athe Manila-bound passenger bus plunged into a 32-foot-deep ravine on April 20.

Initial investigation showed the bus was navigating a descending curve along a diversion road in Barangay Silangang Malicboy when it reportedly experienced brake failure.

The driver lost control of the vehicle, which veered off the road and plunged into the ravine.

The impact hurled passengers forward, leaving dozens with varying injuries. The victims were rushed to hospitals in Lucena City.

The two fatalities were declared dead on arrival at Quezon Medical Center.

LTO-Region IV-A Director Elmer Decena said the agency is coordinating with police and other concerned offices to ensure a swift, fair, and thorough investigation.

He stressed that the LTO will not tolerate reckless driving, especially when it results in loss of life and endangers the public.

‘We will not hesitate to enforce the full extent of the law against motorists who put lives at risk,’ Decena said. ‘The LTO will intensify monitoring and enforcement, particularly on public utility vehicles, to safeguard commuters,’ he said.

Senate ethics committee chairperson Sen. JV Ejercito on Tuesday urged Sen. Ronald ‘Bato’ dela Rosa, who has been absent from Senate sessions since November 2025, to voluntarily decline his salaries and allowances.

‘We are appealing to Sen. Bato dela Rosa to voluntarily decline his salaries and allowances in the Senate,’ Ejercito said in Filipino in a statement.

In the first 58 session days of the 20th Congress, dela Rosa was absent for 31 days. He had the most absences among the 24 senators.

Dela Rosa has not attended a Senate session since reports surfaced that an arrest warrant from the International Criminal Court will be served against him for his alleged involvement in drug war killings during the Duterte administration.

The Senate, however, does not have a ‘no work, no pay’ rule.

‘As stated before, even by Senate President Sotto, the Senate has yet to establish rules that can compel attendance. Any formal action will take time, as it must go through amendments and proper deliberation,’ Ejercito added.

Still, dela Rosa is facing an ethics complaint for his absenteeism.

Ejercito then reminded his colleague: ‘The no work, no pay policy is imposed on ordinary Filipinos. It should also apply to those in public service.’

Authorities are investigating a robbery incident involving nearly P34,000 in church funds reported missing from a parish in Sogod town, Southern Leyte, police said.

A parish finance officer, identified as alias ‘Marie,’ 53, reported to the Sogod Municipal Police Station that a total of P33,950 in collected church offerings had been stolen from the Our Lady of the Immaculate Conception Parish in Barangay San Roque.

Police said the incident was discovered at around 5 a.m. on Monday when the complainant entered a room where the funds had been secured and found that a table drawer and a yellow box containing the money had been forcibly opened, with their padlocks destroyed.

Initial investigation revealed that the funds were counted the night before, April 19, at around 10 p.m., by the complainant and two other individuals. Of the total amount, P14,770 was placed inside a yellow box, while P19,180 was stored in a table drawer.

Responding officers conducted a site inspection and interviews upon receiving the report at around 6:30 p.m. on Monday.

Police have yet to identify the suspect or suspects, and further investigation is ongoing to determine responsibility and possible leads in the case.

‘We respect her decision even as we disagree with it.’

This was the statement of Sen. Francis ‘Kiko’ Pangilinan on Tuesday after former vice president and incumbent Naga City Mayor Leni Robredo announced that she will not run for national position in the upcoming 2028 elections

‘We respect her decision even as we disagree with it and believe that the national interest will be best served if at some future time she changes her mind and heeds the growing clamor of the people for her to lead the nation’s fight for genuine service and good governance,’ Pangilinan said in a statement.

‘I believe that Leni is in the best position to build the broadest and strongest unity not just amongst the ranks of the Liberal Party and our allies but to include all other groups and personalities outside our allied forces,’ he added, citing Robredo’s poll numbers.

Pangilinan stressed that with Robredo’s poll numbers on the rise, more ‘political colors,’ civil society and private sector groups would likely rally behind her.

‘A snowballing of support behind her bid is quite possible,’ Pangilinan added.

He also highlighted that Robredo’s poll numbers are much higher going into 2028, compared to that of 2022, adding that should she change her mind, ‘a formidable coalition, far broader er, more inclusive than the one we forged in 2022, can be cobbled together and lead us to victory in 2028.’

At the same time, he warned that Robredo’s abstention from running for a higher position ‘may create a leadership vacuum’ that may not be filled by others and could ‘lead to disunity,’ in the Liberal Party and its allies.

‘The net effect willl be the fielding of various political parties and groups of their respective presidential bets, further weakening our chances and delivering victory to our adversaries,’ he continued.

Despite declining a re-run for the national elections, Robredo declared her plan seek reelection as Naga City mayor.

Following her term as vice president from 2016 to 2022, Robredo made a bid for president in 2022 with Pangilinan as her running mate.

They, however, lost to now President Ferdinand R. Marcos Jr. and Vice President Sara Duterte.

Robredo in 2025 became the first elected female mayor of Naga City, Camarines Sur.