Category: Philippines Daily Inquirer

For 65 years, RCBC has been a steadfast partner to progress. RCBC is and has always been a force for nation-building, financing infrastructures, renewable energy, and other transformative projects to empower industries and connect communities. Banking, when purposeful, can help build a stronger and more sustainable future. ‘Our most important asset will always be trust. It’s the foundational principle for all banks. For 65 years, RCBC has earned the confidence and trust of millions of Filipinos by standing with them through challenges and triumphs,’ President and CEO Reggie B. Cariaso said. ‘It is this trust that allows RCBC to turn bold ambitions into concrete progress,’ he added.

RCBC has financed multiple infrastructure projects throughout the years, financing more than 100 kilometers of toll roads and bridges that are vital for connecting communities. More recently, the bank broadened its focus to digital infrastructures which include data centers and telco towers to support the booming digital economy.

As the first local bank to publicly announce that it would stop funding coal power plants, RCBC has shifted its energy portfolio towards renewables which includes extensive solar power installations, large-scale wind farms, hydroelectric projects, and other clean energy alternatives. To date, RCBC has financed over 3 gigawatts (GW) of projects with another 3GW of renewable energy capacity in the pipeline, which it hopes to integrate into its portfolio within the next three years.

RCBC’s sustainability bonds have historically been met with strong support from the capital market. Earlier this year, the bank issued new bonds in both offshore and onshore markets, raising USD 350 million in January and PHP 12.2 billion in July. These latest issuances brought the total amount of sustainable financing instruments issued since 2019 to over USD 1B and over PhP 64B, deployed to over 19,000 sustainable projects nationwide.

Leveraging on the bank’s strong presence in the country’s economic zones, RCBC has partnered with the Philippine Economic Zone Authority (PEZA) to help promote the Philippines as an investment site for foreign companies which intend to expand and relocate operations in the country. It is to also enhance collaboration in investment facilitation, financial services, and strategic projects to strengthen the country’s position as a key player in the regional economy.

‘Our journey is far from over,’ said Cariaso. ‘RCBC remains committed to delivering value to our customers and our country through innovative financial products and solutions and channeling capital into sectors that support sustainable growth – renewable energy, resilient infrastructures, and industries with diverse enterprises that create lasting value for the communities they serve.’

‘By aligning our strategies with national priorities and global sustainability standards, we are committed to driving progress that is inclusive, responsible, and built for the long term,’ Cariaso added.

The task force that would address electricity woes in earthquake-hit Cebu would arrive in the area by Thursday or Friday, according to Department of Energy (DOE) Secretary Sharon Garin.

Garin made the statement during the Commission on Appointments’ confirmation hearing on her appointment as energy chief on Wednesday.

This came after Senate Deputy Majority Leader Risa Hontiveros said that a task force needs to be deployed in Cebu and earthquake-affected provinces and cities.

‘Cebu happened last night. We have to call on them. They have to prepare, they have to create a team [and] all their heavy equipment has to be transported. It takes them a day or two just to get to the area,’ said Garin.

With this, Hontiveros said quake-affected Filipinos could expect or hope that by Thursday or Friday, DOE’s task force would already be in the area- which Garin agreed upon.

According to Garin, whenever a ‘disaster of this kind’ happens, the DOE activates the Task Force on Energy Resiliency.

‘Once it is activated, all the stakeholders are gathered in order for us to have information and act on the problems-so that includes the National Power Corporation, National Electrification Administration, National Grid Corporation of the Philippines, National Transmission Commission, all the oil companies for the gas stations, [and] DOE. So once it is activated, all these activities-similar to what we are doing to Masbate are being done also,’ she said.

The National Disaster Risk Reduction and Management Council (NDRRMC) on Wednesday morning reported 26 deaths linked to the destructive 6.9 quake that struck Cebu on Tuesday evening.

NDRRMC said the deaths have yet to be validated, adding that 147 were reported injured, while no one was reported missing so far

Suspected shabu (crystal meth) valued at P3.84 million was confiscated and one individual was arrested by authorities in an operation in Taguig City early Wednesday morning, the Southern Police District (SPD) said.

The drug bust took place along Diamond Street in Barangay Pembo, according to a statement from the SPD.

Authorities recovered seven pieces of heat-sealed transparent plastic sachets allegedly containing shabu weighing 565.6 grams.

‘The arrested suspect was identified as alias ‘Rowel,’ a 26-year-old male resident of the barangay,’ the SPD said.

The confiscated drugs were turned over to the SPD Forensic Unit for laboratory examination.

The arrested suspect is detained at the Taguig City Police Station, facing charges for violating Republic Act No. 9165 or the Dangerous Drugs Act.

The PBA officially approved Pureblends Corporation’s purchase of the NorthPort franchise, with the team to be known as the Titan Ultra Giant Risers.

Official schedules and rosters for the upcoming 50th season revealed the new team’s official name, which had been an open secret for weeks even when the sale was still pending league approval.

Other details of the deal have yet to be revealed as of posting time, as the league was holding a press conference for the upcoming season at Shangri-La The Fort in Bonifacio Global City.

In attendance during the presscon is Titan Ultra’s team governor Emilio Tiu.

Pureblends reportedly purchased NorthPort’s lock, stock and barrel for P90 million but the PBA had to undergo a stringent review of the sale.

Despite that, Pureblends officials led by owner Bryann Calantoc were already dealing with the team’s affairs despite still being known as NorthPort during the Rookie Draft and tune-up games.

But the team had to wear white shirts instead of playing jerseys during last week’s Media Day.

Calvin Abueva, however, created buzz on social media last Monday by showing the team’s jersey with the logo of Titan Maxx, a dietary supplement. The team, though, opted to go with the name Titan Ultra.

The Department of Transportation (DOTr) on Wednesday said that all airports and seaports remain ‘safe and fully operational’ after a magnitude 6.9 earthquake jolted Cebu Tuesday evening.

Acting Transportation Secretary Giovanni Lopez, in a statement, said that the Civil Aviation Authority of the Philippines (Caap) and the Philippine Ports Authority immediately conducted inspections at airports and ports in the Visayas following the major earthquake.

The Office of Civil Defense reported that the death toll as of posting time is 69.

‘So far, no damage has been reported, so our service to passengers continues,’ Lopez said in Filipino.

Lopez added that they will continue to monitor all DOTr facilities.

Aid for quake victims

According to the DOTr, the Philippine Coast Guard (PCG) will deploy BRP Teresa Magbanua, along with doctors, nurses, medics, and basic emergency equipment, to assist residents in affected areas in Cebu.

‘The PCG will also deploy a total of eight search-and-rescue K9 units, as well as water desalinators to help with water supply issues, especially in hospitals and evacuation centers,’ the DOTr said.

The DOTr said it will continue monitoring the situation and is ‘in constant coordination with concerned local authorities and relevant agencies to ensure the safety of the riding public.’

Earlier this Wednesday, Caap said Mactan-Cebu International Airport and other airports in Visayas did not incur damage after the said Cebu-hit earthquake.

The National Historical Commission of the Philippines (NHCP) has advised caretakers of movable historic objects in areas affected by the magnitude 6.9 earthquake in Cebu to prioritize their safety and avoid entering structures ‘without prior coordination with authorities and after ensuring that aftershocks are no longer felt.’

In a statement, the NHCP expressed sympathy with the people of Cebu and nearby provinces affected by the strong earthquake that occurred Tuesday night.

‘Our prayers for the affected families. Please keep safe,’ it said.

‘Your personal safety is of utmost concern. Do not attempt to enter damaged buildings without consultation and coordination with site administrators and experts,’ it added.

The commission advised caretakers of movable historic objects in quake-hit areas to take the following precautions:

‘1. Secure the premises of the structure and protect entry and exit points to deter kibitzers and unnecessary people from entering. You can use barricades and caution ribbons for this.

2. Check the stability of the structure before doing any retrieval/salvage work. Wear protective clothing ( i.e. hard hats, appropriate gloves, brightly colored clothes) before entering the premises of damaged buildings.

3. Document/take photographs of damaged objects. Be wary of debris that might fall down on you.

4. With utmost care, retrieve and wrap the objects if possible with japanese tissue/clean cloth on sturdy boxes, taking as many broken parts as you can. If circumstances permit, label and group various broken parts together for easier identification later. It is IMPORTANT to retreive at the soonest time, the damaged objects as they are prone to further damages (should aftershocks occur, or heavy rains, etc.) and in the case of damaged and unguarded buildings, thieves and vandals.

5. If time and circumstances permit, it is recommended that other undamaged moveable objects be also retrieved for protection.

6. Bring the retrieved objects to a safe place identified by the heritage site administrator/s and away from the damaged structure. Take detailed photographs of damage incurred and label broken parts. Do create a quick inventory which contains the name of the object, measurements, component materials, present condition and damage/s observed.

7. Consult professionals and skilled artisans in the restoration of the damaged objects.’

The NHCP also cautioned people in earthquake-hit areas to be careful when uploading photos on social media, warning that ‘this can be used as a reference by looters, thieves, and unwanted persons.’

According to the latest update from the Philippine Institute of Volcanology and Seismology (Phivolcs), the center of the magnitude 6.9 quake, initially reported as magnitude 6.7, was located 21 kilometers northeast of Bogo City, Cebu, at a depth of 5 kilometers. Phivolcs said aftershocks are expected, and property damage may occur. The agency also issued an advisory for possible minor sea-level disturbances following the quake./mcm

The Police Regional Office-Central Visayas (PRO-7) has deployed 1,356 police officers in response to the magnitude 6.9 earthquake in Cebu, according to the Philippine National Police (PNP).

Data released by the PNP as of 11 a.m. showed that the Cebu City Police Office sent out 348 personnel; Lapu-Lapu City sent 294; and Mandaue City sent 51.

On the provincial level, the Cebu police deployed 363 officers, while Bohol deployed 143.

Then, the Police Regional Office Central Visayas (PRO 7) Mobile Force Battalion deployed 100 officers, the Regional Headquarters deployed 50 and the Regional Medical and Dental Unit deployed seven.

The PNP added that PRO 7 was monitoring 1,457 evacuation centers across the region.

It further said three police stations were damaged during the quake but did not specify which.

The tremor struck 19 kilometers northeast of Bogo City in Cebu province on Tuesday night.

At least 26 were reported dead and 147 were reported injured due to the earthquake as of 8 a.m. on Wednesday, Oct. 1, according to the National Disaster Risk Reduction and Management Council’s latest situational report.

Jeric Raval admitted he only had a slip of the tongue when he confirmed to the public that his daughter AJ Raval and her boyfriend Aljur Abrenica already have two children.

The veteran action star’s confirmation came last August during the press conference of the film ‘Mamay: A Journey to Greatness,’ which he was part of.

This was then brought up during his interview on ‘Fast Talk with Boy Abunda’ on Tuesday, Sept. 30, after show host Abunda asked if the couple got mad at Jeric for the revelation he did.

‘Hindi naman. Actually, nadulas lang ako noon eh,’ Jeric answered, laughing. (No. Actually, I revealed it accidentally.)

Jeric recalled how he blurted out the information while having a casual conversation with someone at the event, and was asked again about it during the press conference proper.

Jeric added that AJ reached out to him after his interview circulated on social media, but that she told her, ‘Nasabi ko na e. Anyway, lalabas din ‘yan.’ (I have already said it. It would eventually come out anyway.)

However, the actor clarified that the pregnancy rumors that hounded AJ a few years back were indeed not true.

”Yung totoo [ay] ‘yung panahon na hindi naman na nababalita, [pero] nasabi ko,’ he continued. ‘Daldal ko kasi e.’

(There were no talks about it when she actually had a child, but I initiated it again with my statement. I blame my talkativeness.)

Jeric also noted that the couple’s firstborn is a girl and the second one is a boy-a correction to the previous detail he got wrong about his grandchildren.

When asked about AJ and Abrenica, Jeric said the couple are happy and have been doing well. Jeric further disclosed that he advised AJ to return to show business while she is still young.

‘Medyo napaso [siya] do’n sa mga bashing kasi puro below the belt e,’ he said of AJ. ‘Hindi pa namin napag-uusapan ulit ngayon pero dati talagang ayaw na niya [bumalik].’

(She was quite affected by the bashing because most of them were below the belt. We haven’t talked about it again but before, she said she really does not want to return to show business.)

AJ and Abrenica, who went public with their romance in 2023, have yet to publicly speak about the matter as of this writing. /edv

Over 4.7 million individuals were affected by the recent weather disturbances as of Wednesday morning, according to the Department of Social Welfare and Development (DSWD).

In a situational report, the DSWD bared that the southwest monsoon (habagat) and tropical cyclones Mirasol, Nando, and Opong have so far affected a total of 4,734,851 individuals or 1,305,842 families.

Of this figure, 63,687 persons (17,011 families) are currently in 844 evacuation centers nationwide, while 55,701 individuals (13,305 families) took shelter elsewhere or received assistance outside evacuation centers.

Based on the report, the affected persons reside in 11,211 affected barangays in Metro Manila, Ilocos region, Cagayan Valley, Central Luzon, Calabarzon, Mimaropa, Bicol region, Western Visayas, Negros Island Region, Zamboanga Peninsula, Soccsksargen and the Cordillera Administrative Region.

To aid flood-hit or affected communities, the DSWD said it has so far distributed over P307 million worth of assistance.

The death toll due to the recent tropical cyclones and habagat reached 27, with four confirmed, while the rest are up for validation, according to a report by the National Disaster Risk Reduction and Management Council (NDRRMC).

NDRRMC also revealed that 33 people were reportedly injured and 16 remain missing.

Two of the world’s major multilateral institutions may come in as cornerstone investors for the initial public offering (IPO) of Maynilad Water Services Inc. next month, chipping in as much as $245 million combined.

In its latest preliminary prospectus, Maynilad said International Finance Corp. (IFC), the private sector arm of the World Bank Group, had agreed to participate as a cornerstone investor for its IPO. IFC will inject up to $100 million at a subscription price of up to P15 per share.

Asian Development Bank (ADB) is also considering investing up to $145 million, although it clarified that this was still subject to the approval of its board of directors.

‘There is no assurance that such approval will be obtained for ADB to sign legally binding documentation for this transaction and participate as cornerstone investor,’ Maynilad noted.

These deals, first reported by Manila Standard, come after the concessionaire delayed its stock market debut twice, this time opting to list no later than Nov. 7.

In adjusting its IPO schedule, Maynilad told the Philippine Dealing and Exchange Corp. it sought to accommodate cornerstone investors.

Investor education

It likewise wanted to ‘allow more time for investor education, ensuring that investors gain a deeper understanding of the corporation and its business model for more informed investment decisions.’

Maynilad, jointly owned by Manuel Pangilinan-led Metro Pacific Investments Corp., Consunji-led DMCI Holdings Inc. and Japan’s Marubeni Corp., plans to raise up to P45.8 billion from its IPO. The offer period will run from Oct. 23 to Oct. 29.

The local bourse has so far only seen one IPO this year-Top Line Business Development Corp. in April-as market volatility continues to discourage other companies from braving the stock market.

Casino developer Hann Holdings Inc. was supposed to raise P13 billion from its IPO this month, but it has indefinitely suspended this to wait for better market conditions.

As a result of Hann’s postponement, the Philippine Stock Exchange lowered its capital-raising target for the year to as low as P170 billion.

The bourse has also seen two delistings this year: Keppel Philippines Holdings Inc. on July 8 and Philab Holdings Corp. on July 11. Mass housing developer 8990 Holdings Inc. will go private again on Oct. 29. INQ