Category: Philippines Daily Inquirer

La Salle lived to fight another day in the UAAP Season 88 Final Four after toppling top-seeded National University 87-77, at Smart Araneta Coliseum on Wednesday.

The Green Archers’ win, however, didn’t come easy despite leading for most of the game against a Bulldogs side they hadn’t beaten all season long.

‘We just tried to prolong this series,’ coach Topex Robinson said. ‘We are up against the number one team so we’re always going to be battling it out with them but we’re grateful and blessed to play one more game.’

The pesky Bulldogs rallied from 17 points down, giving the Green Archers a scare late in the game.

Reinhard Jumamoy’s two coolly sank free throws with 3:52 to play sparking a 6-0 blitz that seemingly gave the Bulldogs a fighting chance. They slashed the lead to nine, 81-72, with 2:23 remaining after a huge triple from Jake Figueroa. Just moments after Figueroa’s long bomb, Jacob Cortez was called for a technical foul for flopping, which further gave the Bulldogs some hope. Cortez, however, would quickly make up for his mistake, sinking his signature jumper in the ensuing play.

As NU tried to make a last-ditch rally, JC Macalalag knocked down a dagger three to put La Salle beyond reach, 86-74, with 52 seconds left.

It was the story for the game for the Green rchers, who had lost a sizeable lead early in the game but managed to have an answer anytime NU came knocking back.

La Salle outworked NU on the boards with 45 rebounds over the Bulldogs’ 32. It also didn’t help the top seeds’ cause that they turned the ball over 15 times-committing 12 in the second half alone.

Cortez shone anew for the Archers with 13 points while Mike Phillips recorded another double-double of 12 points and 17 rebounds. Kean Baclaan also announced his return to La Salle’s lineup with six points, two assists and a rebound.

Figueroa’s all-around game of 20 points, 10 rebounds and four assists was put to waste as he also fumbled the ball eight times in the loss. Omar John also recorded 12 points and five rebounds in a losing effort.

The Bulldogs and Green Archers go at it again on Saturday at the same venue for a ticket to the UAAP Finals.

The Nov. 30 rallies served as Part 2 of the Sept. 21 mass action where Filipinos came out to show their outrage against corruption.

Many things happened between the two dates. In September, the exposés were fairly new, and each revelation during the congressional hearings drew shock and disbelief from the public. The Independent Commission for Infrastructure (ICI) was just newly created-10 days old, to be exact.

By November, the ICI had held numerous hearings and recommended the filing of charges against certain individuals involved in the mess. Boxes upon boxes of documentary evidence had been examined. Warrants of arrest had been issued and a handful-employees of the Department of Public Works and Highways-had been detained.

Still, while there have been early gains in the fight that began with President Marcos’ ‘Mahiya naman kayo!’ speech during his State of the Nation Address in July, much more remains to be done.

On the streets, on social media, and even in surveys, Filipinos have made their sentiments known. It is through these sentiments that the administration should more carefully tailor its action in its fight against corruption. For example, an October 2025 Social Weather Stations survey across Mega Manila shows that 83 percent of Filipinos believe corruption is most rampant on the level of the national government, and 73 percent believe it is prevalent among high-ranking officials such as Cabinet members and senior management.

People are not satisfied with how the country is being governed. In Mega Manila, 77 percent of respondents-and 80 percent in the National Capital Region-feel corruption has become more widespread. Meanwhile, 60 percent believe that the government’s anticorruption efforts are not effective.

Public frustration is also driven by the misuse of public funds. Seventy-six percent of Filipinos believe that poorly built or unfinished government projects are a direct result of corruption. Following the exposure of substandard projects in Bulacan, 62 percent agree that corruption in Bulacan’s infrastructure sector reflects a broader, nationwide problem.

Moreover, people demand accountability and transparency, not just as buzz words but through action. Filipinos overwhelmingly support tougher action against corruption. Specifically, 74 percent favor stiffer penalties for corrupt officials, 71 percent support the filing of cases against those implicated, and 71 percent of respondents in Mega Manila believe that public movements such as the Trillion Peso March can push the government to act.

There is also substantial backing for transparency measures such as making the statement of assets, liabilities, and net worth accessible (63 percent) and passing the Freedom of Information Act (59 percent).

Amid the growing clamor for results, and especially as the Christmas season draws near, Filipinos are hoping that bigger names involved in the scandal would be jailed. If big fish are allowed to escape prosecution, this sends a message that crime does pay, and that being in power indeed makes one immune from the consequences of crime.

Ultimately, this is not about the political affiliation of any single personality. Whatever color and persuasion, corruption is a reprehensible thing that should be punished, whoever is involved. This is what we have to impress upon the majority of our people, lest they believe this is a witch hunt for any political personality or group.

More importantly, investors, while acknowledging the potential of the Philippines in terms of human capital and other resources, are adopting a wait-and-see attitude. The push toward investment-led growth is a pressing concern for the administration, because attracting investments will have exponential effects on job creation and income generation. A corrupt environment will cause investors to lose interest in the Philippines altogether.

The words of Cardinal Pablo Virgilio David during the Trillion Peso March are both sobering and enlightening. He pointed out that calls for resignation may be untenable because resignation is a voluntary act by someone who has good values and character.

But ‘Mahiya naman kayo’ presupposes that everyone is capable of shame.

I agree with the Cardinal that we are not looking for fast and easy solutions. Instead, what we are aiming for are lasting reforms even as we try to hold accountable those who are proven to have committed corruption against our people. We will fight corruption through steady, consistent action and inclusive governance. Governance is not only the turf of the leaders, but a joint undertaking between multiple sectors: the government, the public sector, civil society, and all citizens.

Nov. 30, which coincided with the birth anniversary of Andres Bonifacio whom we celebrate for his courage, was a day for a collective call for justice and governance. We hope this unites Filipinos of different political persuasions, sectors, geographic areas, and socioeconomic classes, to work toward a future of integrity, equity, and progress for the nation. We thus commit ourselves to a long and arduous battle, for the sake of our nation and our children.

The local stock barometer sank on Wednesday as the upswing in October national debt load, coupled with softer growth forecasts, reignited investors’ concerns.

The Philippine Stock Exchange Index (PSEi) dropped 1.48 percent, or 88.56 points, to finish at 5,905.84.

The broader All Shares Index likewise ended in the red, falling by 0.31 percent, or 10.71 points, to 3,464.79.

Only the mining and oil counter recorded slight gains during the trading session, while the services sector emerged as the biggest loser.

However, data showed that trading was ‘quite active’, with net value turnover logged at P6.56 billion, Philstocks financial research manager Japhet Tantiangco said.

‘The local market dropped with concerns on our country’s fiscal position and growth outlook fueling negative sentiment,’ he said.

Debt woes

‘Investors digested the latest national government outstanding debt data, which posted an increase, partly because of the pesos’s depreciation,’ the analyst added.

The weakening of the local currency pushed the national government’s debt to P17.56 trillion in October, up by P106.78 billion from the previous month.

The tempered economic expansion of the country is also seen to persist until 2027, with the Organisation for Economic Co-operation and Development trimming its growth forecasts to 4.7 percent this year and 5.1 percent in 2026.

For 2025, the government hopes that gross domestic product would grow by at least 5.5 percent to as much as 6.5 percent. A growth range of between 6 percent and 7 percent, meanwhile, is eyed for 2026 to 2028.

This latest forecast, Tantiangco said, ‘also weighed on the local bourse.’

Converge ICT Solutions, Inc. gained the most on Wednesday, climbing 3.63 percent to P16 per share.

DigiPlus Interactive Corp. was the top laggard, falling 5.46 percent to P22.50.

Decliners outnumbered advancers, 105 to 86, while 46 remained unchanged.

University of the Philippines knew that stopping University of Santo Tomas in their UAAP Season 88 Final Four duel meant containing Collins Akowe.

That mission is certainly easier said than done, but the Fighting Maroons executed that plan to a tee to march to their fifth straight UAAP Finals appearance.

‘We knew the challenge with him since our first game against UST,’ coach Goldwin Monteverde said after their 82-81 nail-biter against the Growling Tigers at Araneta Coliseum on Wednesday.

‘We knew Collins and the type of player he is so we really prepared for him during practice. We learned how to react as a team against him.’

UP’s bid for back-to-back titles stayed alive after the Maroons gave the UST rookie hell.

Akowe finished with a double-double of 11 points and 11 rebounds, numbers that-on paper-looked like a great performance.

But Akowe was saddled with offensive woes, making just four of his 12 shots from the field. His main defender, Francis Nnoruka, played his role to perfection as he choked out the UST big man on defense.

‘I really just focus on what I’m supposed to be doing and how to get better,’ Nnoruka told the Inquirer after finishing with 19 points, nine rebounds, three blocks and two steals in the win.

With the Final Four done and dusted, Nnoruka turned his attention to the future; a UAAP Finals date with either La Salle or National U.

‘Obviously, I lost to La Salle twice so I want to go back to the drawing board and do more work but to be honest, may the best man win,’ he said. ‘We just have to work on our craft, perfect it and wait for whoever comes in our way.’

As much as $2 billion in infrastructure and renewable energy investments are expected to be finalized next year following a four-day trade mission to Qatar sent by the Philippine Chamber of Commerce and Industry (PCCI), the country’s largest business organization.

PCCI president Enunina Mangio said in an interview that the delegation had secured an initial commitment from JTA Investment Holding, a firm operating in 50 countries with interests spanning tourism, transport, construction and more.

‘The PCCI is very active in promoting our country as the best and the No. 1 investment country,’ Mangio said, adding that Qatari businesses had also expressed interest in expanding investment in manpower.

Among the proposed ventures is a rail transport system in Digos, Davao, which is slated for completion in three construction phases.

Another is an overhead rail project in Cebu, intended to ease traffic congestion.

Mangio said the mission had also secured commitments to develop a hotel and a resort, as well as explore renewable energy projects.

Officials from the Qatari firm are expected to visit the Philippines in January to assess the viability of the projects. This includes determining potential roadblocks, such as right-of-way issues, before finalizing the deal.

‘If there’s no problem, they’re going to finance it,’ Mangio said.

The PCCI is preparing project documentation ahead of that visit, she said.

Mangio added that the Qatari government would also be involved in the investment projects.

Mangio said the planned investments had followed JTA’s earlier ventures in Southeast Asia, citing commitments worth around $2 billion in Vietnam and $3 billion in Indonesia.

The Philippine delegation to Qatar included about 40 representatives, among them Mindanao Development Authority Secretary Leo Magno.

The Qatar visit was Mangio’s final overseas mission as PCCI president.

Her term ends this year, with elections for a successor scheduled for Dec. 5.

When I first started investing decades ago, I was proud to put money into the Philippine stock market.

It felt like more than just a financial move-it felt patriotic. I liked the idea that I was helping local companies grow, keeping money in our country, and joining the ‘Philippine growth story.’

Many Filipinos feel the same way. After all, this is our home. We live here, earn here and dream here.

But as I’ve walked the long road of personal finance, I’ve also realized a hard truth: patriotism alone cannot be an investment strategy. If we are to be wise stewards of the resources God has entrusted to us, we must sometimes make painful choices.

Equities

One of those is reducing our exposure to Philippine equities and shifting more of our investments into global equities.

It’s not easy to let go. There’s a certain pride in owning shares of companies whose logos we see in malls, highways and advertisements every day. Banks, property developers, big conglomerates-they feel familiar and close to home.

Yet investing is not about familiarity or sentiment. It is about aligning our portfolio with our objectives and managing risk wisely. And when we look at the data, the reality becomes clear: the Philippine market has underperformed for many years, while global markets-driven by technology, health care and consumer innovation-have left us behind.

Diversification in its purest form

Consider our own stock market, the Philippine Stock Exchange Index. It is heavily concentrated in just a handful of industries: banking, property and utilities.

Growth is slow. Add in recurring issues of political instability, corruption scandals and weak foreign investor participation, and the story is often one of stagnation rather than acceleration.

Meanwhile, global markets give investors exposure to entire industries that don’t even exist locally. Artificial intelligence, biotechnology, renewable energy, e-commerce and global consumer brands-these are shaping the future, and they are not available if we limit ourselves only to Philippine equities.

Does this mean abandoning our country? Not at all. It simply means being wise. The Bible says in Ecclesiastes 11:2, ‘Give a portion to seven, or even to eight, for you know not what disaster may happen on earth.’

That is diversification in its purest form. We do not know what disasters-political, economic, or natural-might hit our nation.

But we can prepare by spreading our resources so we are not tied down to just one small market of 115 million people.

Risks to consider

Of course, investing in global equities has its risks. Currency fluctuations can affect returns, especially if the peso strengthens. Global markets themselves can be volatile, as we saw during the pandemic, the Ukraine war and the US Federal Reserve rate hikes.

But the truth is this: all investing carries risk, whether local or global. The key is not to avoid risk-it is to manage it wisely. And global equities give us more ways to spread out that risk.

The best way for most Filipinos to access global markets is through global funds-mutual funds, unit investment trust funds (UITFs), or feeder funds. These are managed by professionals who allocate across sectors, regions and currencies, so you’re not betting on one market alone.

It’s like joining a caravan instead of walking the long road alone-you have more support, more eyes on the road and more chances of reaching your destination safely.

Now, I’m not saying we should pull out of Philippine equities completely. A balanced portfolio will always have room for some local exposure, especially if you believe in certain industries or want to participate in long-term national growth.

Balance

But balance means not being overexposed to one country, particularly one with persistent structural challenges. For most investors, shifting a significant portion toward global equities is not just an option-it’s a necessity if we want growth and resilience in our portfolios.

Think of it this way: if your goals are short-term, like a planned expense in the next year or two, keep your money in cash or fixed income.

If your goals are medium-term, mix bonds and equities, with global funds as a key driver of growth.

If your goals are long-term, like retirement or your children’s education decades from now, then global equities should carry even more weight. The right mix depends on your personal objectives, but the principle is universal-don’t put all your eggs in one basket.

Stewardship

This is where stewardship comes in. Patriotism is admirable, but stewardship is greater.

God calls us to manage our resources wisely, not emotionally. If global exposure gives us better opportunities and protection, then the faithful response is to take that step.

Our financial choices ripple outward-they affect our families, our future and even our ability to give generously and support others.

By strengthening our personal economy through wise investing, we become better equipped to bless others.

So yes, it may feel painful to trim down on Philippine equities. It may feel like letting go of a dream that our local market will one day soar to global heights. But wisdom requires us to invest not based on sentiment but on sound principles.

Global equities open doors to industries and growth far beyond our borders, and they protect us from the concentrated risks of our own economy.

Looking ahead, I encourage you to keep perspective. Continue supporting the Philippines in ways you can-through your work, your taxes, your businesses, your community. But when it comes to building wealth for your family’s future, don’t be afraid to think global.

Patriotism is good, but stewardship is better. And wise stewardship will always lead us toward growth, resilience and opportunity that lasts. INQ

Authorities arrested a 71-year-old man in Antipolo City for allegedly operating an illegal gun factory and confiscated 12 supposedly unregistered firearms and parts, the Philippine National Police (PNP) said on Wednesday.

The operation was carried out under a search warrant for violations of Republic Act No. 10591, or the Firearms and Ammunition Regulation Act, targeting a facility in Barangay Santa Cruz last Nov. 25, the PNP said in a statement.

It did not specify which court issued the warrant.

Police noted that operatives confiscated four .38 caliber revolvers; three 9mm caliber pistols, an AR-18 caliber 5.56 rifle; and a .357 calibe magnum revolver, as well as two upper receivers of a .22 caliber mini rifle and an upper receiver of a 12-gauge shotgun.

‘Authorities likewise recovered two ammunition-reloading machines, a reloading press, a cartridge case cleaner, plastic containers containing 1,093 assorted bullet heads, and a sack with an estimated 1,500 black bullet heads,’ the PNP said.

‘The suspect was found operating without the necessary authority and license from the PNP Firearms and Explosives Office, in direct violation of RA 10591,’ it adde

The suspect was taken into custody by the local police and is awaiting a formal complaint for violation of Sections 28 and 32 of RA No. 10591.

‘No surprise to me and the people who know me.’

Former Sen. Grace Poe said the Independent Commission for Infrastructure’s (ICI) recommendation to further refer the investigation against her to the Ombudsman is a clear acknowledgement that former Public Works and Highways Undersecretary Roberto Bernardo’s allegations are false.

Poe said it also proved there’s no evidence to support filing charges against her.

‘This is no surprise to me and to the people who know me because I [have] always conducted myself with utmost integrity. Rest assured that I will submit to further investigations by the Ombudsman to the end that the truth will actually be uncovered and appropriate charges are eventually brought against those who are truly responsible,’ said Poe.

In his bombshell exposé before the Senate blue ribbon hearing into anomalous flood control projects, Bernardo claimed that Poe received a 20% commitment or kickback from DPWH projects.

According to Bernardo, a staff member of Poe requested if the lawmaker could be accommodated in the DPWH NEP.

The ICI on Wednesday afternoon referred the following individuals to the Office of the Ombudsman for further investigation and a possible case build up: Poe, former Sen. Nancy Binay, Sen. Francis Escudero, and Sen. Mark Villar.

The ICI’s decision to suggest a ‘case build-up’ is not a mere bureaucratic footnote. It’s a loud, inevitable admission: the evidence against Grace Poe is flimsy. If this were a serious, prosecutable matter, the Commission would have acted decisively. It didn’t. That must be telling us something – loudly and clearly.

‘Case build-up’ is legalese for the painful truth: there is insufficient confirmed evidence to pursue charges. After months of headlines, investigations, and frantic charges, we’re left with a rumor raised to affidavit – and it’s riddled with holes. If charges against a prominent person are serious, they do not need months of deliberation by a fact-finding committee.

The most damaging aspect of this show is how little evidence links Poe to any crime. She hasn’t been charged. She has not been proven to have benefitted. There is no document trail linking her name to bribes, no deliveries or directions with her stamp, and no financial transactions that placed money in her pocket. What remains is a testimonial house of cards built on the evidence of a single individual: former DPWH undersecretary Roberto Bernardo. Bernardo’s affidavit, which has been used as a smoking gun, fails under simple inspection.

There are no supporting documentation, bank records, receipts, or geo-tagged logs-nothing that meets the fundamental requirements of a modern bribery inquiry. Even former DPWH Secretary Manuel Bonoan, who is reportedly essential to Bernardo’s story, has denied any involvement with him or the purported plot. When your solitary accuser is unable to establish a credible link to the alleged mastermind of the operation, the allegation devolves into macabre spectacle rather than investigation.

Worse, the ICI itself faces serious challenges on its credibility. The resignations of Benjamin Magalong and Rogelio Singson are more than just footnotes; they are seismic blows. These are experienced officials whose participation would have increased the Commission’s believability. Their departures pose a clear and pressing question: how can the public trust the integrity of a body whose guardians leave when accountability is most needed?

Faced with a poor case and a stressed-out organization, the ICI’s only reasonable approach is to maintain strict openness and adherence to evidence. If there is proof, bring it to light. If not, do the only honorable thing: clarify the record and restore someone’s image that has been tarnished by false claims.

Grace Poe deserves better than speculative insinuation. She deserves a full opportunity to refute these baseless charges with verified facts, audits, and testimony. Vindication should not be a political brag, but the result of a rational, evidence-based approach.

Allow the ICI to either carry out its mandate and prosecute with substantial evidence, or to accept the lack of proof and restore justice – and Poe’s reputation. This isn’t just about one politician. It is about whether our institutions will preserve the rule of law or succumb to the winds of gossip.

The ICI is now at a crossroads: it may insist on evidence and escape unscathed, or it might flounder, leaving a trail of reputations damaged by unconfirmed allegations.

Former Department of Public Works and Highways (DPWH) Secretary Rogelio ‘Babes’ Singson resigned as one of the commissioners of the Independent Commission on Infrastructure (ICI), the body’s chairperson Andres Reyes Jr. said on Wednesday.

Reyes said Singson’s resignation is effective Dec. 15 but ‘could be extended’ until Dec. 31.

‘He mentioned the very intense and stressful ICI work has been taking its toll on his aging body,’ Reyes said in a regular press briefing.

Singson is 77 years old. He was born on Sept. 16, 1948.

Reyes said he has no information yet on Singson’s successor, nor did the ICI have in mind any personality to recommend for his vacated post.

‘No, we have not thought of that; we have been very busy,’ Reyes said when asked if ICI has any recommendations.

‘Anyway, it’s not my concern, that is the recommendation of the President so I don’t know who it could be,’ he added.

Reyes also assured that Singson’s resignation will not affect ICI’s work.

‘We can continue investigative work on a table basis, not hearing basis,’ he said.

Singson served a full six-year term from 2010 to 2016 as DPWH chief under then-President Benigno ‘Noynoy’ Aquino III.