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The Philippines’ external debt service burden slipped by 6.2 percent to $6.72 billion in the first half from $7.16 billion in the same period last year, according to the latest data from the Bangko Sentral ng Pilipinas (BSP).

Of the total, interest payments dipped by 0.7 percent to $3.95 billion, while principal payments fell by 13.1 percent to $2.77 billion from $3.19 billion a year ago.

The debt service burden (DSB) remained within manageable levels relative to the country’s external receipts. It accounted for 21.1 percent of export shipments and 8.7 percent of exports of goods, services and primary income from January to June.

The DSB refers to the combined principal and interest payments made by the country to settle its foreign loans. These include amortizations on medium- to long-term borrowings as well as interest on short-term credit lines obtained from foreign creditors.

Michael Ricafort, chief economist at Rizal Commercial Banking Corp., said the lower debt service burden was due to the lower share of foreign borrowings to better manage foreign exchange risks.

Ricafort explained that most of the government’s external debt is long-term in nature, with the longest possible tenor.

‘Possible inclusion in J.P. Morgan Emerging Market Global Bond Index would help sentiment or demand for Philippine bonds, which could help lower the government’s borrowing costs,’ he said.

The country’s outstanding external debt climbed to a fresh record high of $148.87 billion as of end-June, but the BSP earlier said that foreign debt remains sustainable with key indicators showing manageable levels.

The latest figure was 1.5 percent higher than the previous quarter’s $146.74 billion, mainly due to the weakening of the dollar, which raised the dollar-equivalent of borrowings in other currencies by $1.49 billion.

The Philippines borrows externally to finance public infrastructure, social services and other development programs, as well as to diversify funding sources and take advantage of favorable terms from foreign lenders. Local banks and companies also tap offshore markets to fund expansion and investment needs.

The Philippines’ largest group of Catholic schools urged the government on Tuesday, September 30, to expand its nationwide private school scholarship program, warning that declining enrollment, rising operational costs and migration of teachers to better-paying schools are putting their survival at risk.

The Catholic Educational Association of the Philippines (CEAP) – whose member schools number about 1,500 nationwide – said many private schools remain financially unstable due to shrinking student numbers. This is even after they weathered the COVID-19 pandemic, when private school enrollment plunged from 4.3 million before 2020 to just 1.4 million by 2022.

In both basic and higher education, CEAP President Fr. Karel San Juan, SJ said, private Catholic institutions are facing stiff competition from tuition-free government schools.

“One lung is private, one lung is public, and we need both lungs to survive,” San Juan said at a press conference.

“Because of the difficult economic situation, of course, our students will gravitate towards free tuition in public schools. So that’s a loss of enrollment to us, and as we know, the private schools are just dependent on tuition fees,” he added.

Call for ‘complementarity’

Enrollment in private schools dropped from 4.3 million before the pandemic to just 1.4 million by 2022, according to CEAP data shared during the press conference. This forced the closure of hundreds of schools, especially small diocesan schools in rural areas, and led to retrenchments of faculty and staff.

“The pandemic is an example of how the private school sector is so dependent on tuition fee alone,” San Juan said.

Many private schools are still in the red, according to CEAP. “If you ask the school heads here, our enrollments, especially in basic education, have been going down. We’ve been analyzing this decrease,” the CEAP president said.

The 1,500-member association wants the government to share public funds more equitably with private schools through expanded vouchers and subsidies – formally the Department of Education’s Government Assistance to Students and Teachers in Private Education (GASTPE).

The GASTPE currently provides vouchers and subsidies to high school students to allow them to pursue studies in higher education. This assistance is disbursed directly to schools and ranges from P9,000 to P13,000 per student.

CEAP and other voices in the private education sector have been seeking GASTPE’s expansion to include elementary students – the other half of the whole K to 12 system.

“The government should give importance to both public and private. [It already] does that, but our advocacy, there should be more,” San Juan said.

The CEAP president said they have been informed by lawmakers, including Sen. Bam Aquino, chairperson of the Senate basic education panel, of their openness to making elementary students eligible for GASTPE subsidies.

Amid the current uproar over anomalous public works projects, San Juan said there is also an opportunity to push for an increase in the subsidy amounts given.

“Because now, the amount ranges from P9,000 to P13,000. And that is not adequate to fully support the cost of education,” the CEAP president said.

“They’re open to it. Especially now, with this controversy of flood control budget, which the government will shut down,” San Juan said. “Our congressmen, who are very supportive of all this, are pushing for the transfer of funds to education.”

Beyond expanding GASTPE, however, Br. Edmundo Fernandez, CEAP treasurer and president of De La Salle-College of St. Benilde, believes the government should also improve the efficiency of the program itself.

“Issues within these subsidy programs place a heavy burden on the resources of Catholic schools, private schools, especially the mission schools,” Fernandez said. “CEAP recommends increased funding, more timely disbursements, and simplified processes.”

He noted that Catholic and private schools aren’t just institutions like DE La Salle University and Ateneo de Manila University. “There are hundreds of schools in the provinces, in the hinterlands that need a lot of support.”

Private school autonomy on suspensions, tuition

Br. Kenneth Martinez, CEAP corporate secretary and president of University of St. La Salle Bacolod, said private schools are being constrained by tuition caps pegged to regional inflation rates.

“In truth, it does not reflect the real cost of running private schools,” Martinez said, citing mandated salary increases, rising operational costs, and schools’ investments in evolving technology and facilities.

“Private higher education institutions must be allowed to determine reasonable tuition rates based on actual school needs and consultation with stakeholders,” he said. “If tuition is capped only by inflation, schools will be forced to cut corners, or worse, shut down.”

Catholic schools also want more discretion on weather-related class suspensions. San Juan said blanket provincial suspensions by local government units don’t account for varying conditions across different areas.

“Can private schools and school heads be given more autonomy to decide whether in my area, my barangay, my province, my town, my city, dito hindi masyadong umuulan, itutuloy ko ang klase?” he said.

The Department of the Interior and Local Government is open to changes and plans to meet with CEAP soon to discuss the matter, San Juan said.

The Betwagan tribe of Sadanga, Mountain Province and the Butbut tribe of Tinglayan, Kalinga have agreed to a truce, a step meant to end two decades of conflict over land and water in their shared boundary area.

The long-standing dispute has cost lives and posed dangers to businesses and school children of both tribes.

In the agreement signed by tribal leaders and witnessed by police and military officers over the weekend, the tribes promised to avoid fighting, issuing threats and other acts meant to intimidate the other side.

The country’s leading automotive firm Toyota Motor Philippines Corp. (TMP) was recognized as the top revenue contributor by the local government of Santa Rosa in Laguna for 2024.

In a statement, TMP said it remitted taxes and fees amounting to P1.16 billion to the city government of Santa Rosa last year, boosting the local government’s fiscal performance.

Given its significant contribution, TMP received multiple distinctions, including the coveted Hall of Famer Award among the Top Business Taxpayers, as well as the Top Manufacturer Award and a Top Real Property Taxpayer – Company Category Award during the Lion Awards.

TMP’s wholly owned logistics arm, Toyota Motor Philippines Logistics Inc. and its franchised dealership, Toyota Santa Rosa Laguna Inc. were also recognized in the same event, underscoring Toyota network’s contribution to the city’s economy.

For Santa Rosa City Mayor Arlene Arcillas, businesses like TMP play a crucial role in sustaining the city’s contribution to the national economy.

Santa Rosa is one of the biggest contributors to the country’s gross domestic product.

‘This recognition is not only for our company, but for the entire Toyota community here in Santa Rosa, including our customers, team members, suppliers, dealer, business partners, immediate community and all the families whose lives we share and touch every day,’ TMP senior vice president for Treasury and Comptrollership Dennis Ben-Hur Escuro said.

Beyond its economic contributions, Toyota was also recognized and named Sustainable Development Partner and Earth Hour Advocate during the 2025 Green Awards for its strong commitment to responsible business practices, environmental stewardship and social development.

TMP produces the Vios, Innova and next generation Tamaraw at its plant located inside the Toyota Special Economic Zone in Santa Rosa.

At present, it has over 4,000 employees and accounts for about 29 percent of the country’s total annual exports of original equipment manufacturer parts and components.

It also promotes skills development through the Toyota Motor Philippines School of Technology.

There’s electricity in the Meralco camp as the Bolts are set to unveil the dream team-up of Rondae Hollis-Jefferson and Justin Brownlee in the East Asia Super League.

‘I’ve played alongside JB and I played against Rondae and they’re two of the fiercest competitors I know. And to have them come to our program to lead this team and show that competitiveness that has made them successful, that’s really important not just for myself but for the younger guys to see,’ Meralco star Chris Newsome said.

Hollis-Jefferson of TNT and Brownlee of Barangay Ginebra have been fierce rivals in Asia’s first play-for-pay league, battling in the finals in three of the last six conferences, including two in the previous Season 49 alone.

With the Philippine Cup slated as the PBA’s opening conference beginning Sunday, both the Tropang 5G and the Gin Kings allowed the three-time Best Import awardees to suit up for the Bolts, the country’s lone bet in the international hoopfest.

‘It’s nice we get to all represent the Philippines and we’re all going to be on the same team for once and we’re not competing against each other,’ said Newsome, who is teammates with Brownlee in Gilas.

‘It’s going to be nice to go out there and really just fight alongside those guys and play whatever role I need to play,’ he added.

The irony of Brownlee donning the Meralco jersey after breaking the Bolts’ heart on his way to three of his PBA championships isn’t lost on the Bolts.

‘This is more than Meralco or us,’ said Bolts coach Luigi Trillo. ‘We’re very happy pinayagan si Justin, pinayagan si Rondae because we have to care more for the fans, too. Nakikita natin (fans’ frustrations) sa Gilas and sa EASL kapag hindi tayo nananalo. If you think about it, pound for pound, the Philippines can do well against any Asian country. The problem is the ballclubs allow four imports so we have to pivot and adjust to that.’

Local manufacturers are urging the government to impose a definitive safeguard duty on cement imports to allow the industry to compete with foreign suppliers and retain their workforce.

‘We need this safeguard to ensure the industry remains viable and to protect local jobs,’ Cement Manufacturers Association of the Philippines Inc. (CeMAP) executive director Rey Baja said in a statement.

CeMAP said cement manufacturers in the Philippines are not receiving subsidies, unlike some Vietnamese cement suppliers that enjoy support from their government allowing them to sell at lower prices.

‘It is of national interest to promote and protect the local cement industry against unfair competition from other countries,’ Baja said.

CeMAP said business groups like the Philippine Chamber of Commerce and Industry and the Federation of Philippine Industries also support the imposition of a safeguard measure to protect local jobs.

Cement manufacturing contributes at least one percent to the country’s gross domestic product and supports around 130,000 jobs.

The industry group also expects cement prices to be stable even if a definitive safeguard measure is imposed.

‘We also don’t think it will result in higher prices,’ Baja said.

According to CeMAP, cement prices have been stable despite the Department of Trade and Industry (DTI)’s imposition of a provisional safeguard duty on cement imports.

In February, the DTI issued an order imposing a provisional safeguard duty of P400 per metric ton or P16 per 40-kilogram bag of imported cement after finding a causal link between increased cement imports and injury to the domestic industry.

The provisional safeguard duty is in place for 200 days while the Tariff Commission decides on whether a definitive safeguard measure should be implemented.

Republic Act 8800 allows the government to impose a safeguard measure in the form of increased tariff on certain imports when there is serious threat or injury caused by a surge in import of like products.

CeMAP said the country’s cement imports reached 7.6 million metric tons last year, with the bulk coming from Vietnam.

While the local industry has a total capacity of 51 million tons, actual production dropped to 27 million tons, while demand was only around 35 million tons.

This led to P5 billion in losses, slower operations and job cuts.

With the industry in a difficult position, CeMAP said a definitive safeguard measure is needed to make local cement manufacturing viable.

Public servants shouldn’t be onion-skinned. They need to answer bona fide questions from their constituents. With all the hullabaloo on flood control, it’s my opinion that former congressman of Cebu’s 7th District, as well as the incumbent, his own wife, have a lot of issues to clarify.

PJ and Dra. Patricia Cinco Calderon are persons of integrity, honor and dignity. Nonetheless, they may have the legal and moral obligation to answer questions on the issue of flood control.

PJ used to be mayor of Samboan, which belongs to the 2nd District. We don’t know why he was later representing the 7th District, from 2016 to 2019 and again from 2019 to 2022 and from 2022 to 2022 and from 2022 to 2025. He was a Provincial Board member from 2007 to 2016. He was succeeded by his wife, Patricia, who ran without any serious opposition in 2025.

First, as vice chairman of Zaldy Co’s magical and controversial Appropriations Committee, under the overall leadership of resigned speaker Martin Romualdez, PJ should explain to the people and to the nation, and especially to the concerned citizens of Cebu, particularly of the 7th District, how in the world did this remote area get the lion’s share of flood control budget, when there is no scientific study indicating that the eight towns in southwest Cebu are the most flood-prone in the whole province.

Second, the Calderons should explain, what political and financial wisdom guided Congress in allocating no less than ?12.06 billion to the 7th District alone, as declared in the online Sumbong sa Pangulo platform, out of the total ?25.521 billion allocated for the entire island of Cebu. Out of 395 flood control projects for the entire Cebu, why did Calderon’s district get 162? Congressmen are national officials, not LGU or parochial leaders. Did they consider the bigger picture instead of focusing only on the most remote district? It is incumbent upon the Calderons to explain this to the people. Explain the rhyme and the reason.

Third, why was the 1st District, with three cities, and with a population multiplied four times the population of the 7th District, and with too many flood-prone areas given only ?3.01 billion or just one-fourth that of Calderon’s district? The 3rd District, with the big city of Toledo and the largest towns of Barili and Balamban, and with a population four times bigger, given only ?1.95 billion, or less than one-sixth of what Calderon’s district got? What formula did Calderon’s committee use in the distribution of public funds?

Fourth, explain why the 7th District had 162 flood control projects. Where are these located? What is the scientific basis in terms of atmospheric geophysical and astronomical criteria and determining factors? What planning parameters and mechanics were used by the congressman and the DPWH in determining that there should be 162 flood control projects in the 7th District, while only 36 in the 1st District, only seven in the 6th District, and 42 in the 3rd District? My God, all thinking Cebuanos should be amazed at such a draconian mystery.

Fifth, the Calderons should declare the exact location by precise geographic coordinates, where in the world these specific projects are located. Where in Malabuyoc are the so-called 38 projects supposedly costing ?3.3 billion located? How many projects are in Ronda, my own hometown, which is allegedly blessed by no less than ?2.6 billions. I am from Ronda and I always go around my small town. And I can testify before the holy image of Our Lady of Sorrows that I have not seen these projects. Well, I am not saying that they do not exist. I must be either blind or a stranger in my own paradise.

Lastly, the Calderons should declare why of all contractors in the whole universe, his close friend’s own construction company, a single proprietorship, based in Dumanjug, the QM Builders, reportedly cornered 89 projects worth ?7.15 billion in the whole Cebu and Quirante Construction Corp. allegedly got a whopping 41 projects worth ?3.19 billion. It must not be an accident that QM and Quirante Construction have been blessed with such huge, even gargantuan multi-million projects.

With no malice or bad faith, as a taxpayer from the 7th District, this humble writer has the right to know the truth. If the Calderons have nothing to hide, they should take these questions calmly and in good faith. I believe they are honorable people.

Former World No. 1 and two-time major champion Dustin Johnson is set to bolster an already formidable field at the International Series Philippines, which fires off on October 23 at Sta. Elena Golf Club in Laguna.

Johnson, whose resume includes an undefeated Ryder Cup record over five appearances – highlighted by a dominant 5-0 showing at Whistling Straits in 2021 – joins a stellar lineup that makes this event the most high-profile golf championship in the country since the Johnnie Walker Classic in 1995 at the Orchard Golf and Country Club.

He will be joined by fellow major winners Bubba Watson, Patrick Reed, Charl Schwartzel and Louis Oosthuizen, alongside international standouts Dean Burmester and Marc Leishman. With a $2-million purse, the International Series Philippines promises top-tier competition and world-class shotmaking from the opening tee shot to the final putt.

Now a leading figure with LIV Golf’s 4Aces GC, Johnson last played on the International Series circuit at the PIF Saudi International in 2023. His return to Asia and debut in Manila is expected to energize fans and draw new attention to the sport locally.

‘What I love most about the game is that it takes me to places I might never have gone otherwise – and the Philippines is one of those places,’ said Johnson. ‘To be able to play in front of new fans, experience a different culture, and share the excitement of world-class golf in a country that’s still discovering the sport – that’s really special for me.’

Johnson captured the US Open title in 2016 and delivered a record-breaking performance at the 2020 Masters, winning with a tournament-best 20-under-par total. He first reached world No. 1 in 2017, holding the top spot for 64 consecutive weeks – the fifth-longest reign in history – and has spent over 130 weeks in total atop the rankings.

But despite his illustrious achievements, the upcoming International Series event holds special meaning.

‘The International Series is a perfect fit for where I’m at in my career,’ said Johnson. ‘Even though the LIV Golf season is over, I still want to compete, stay sharp, and challenge myself against some of the best players out there.’

Beyond personal goals, Johnson emphasized the broader impact of competing in events like this one: helping to grow the game in emerging markets.

With his addition to the field, the International Series Philippines is shaping up to be one of the most competitive and captivating events on this year’s global golf calendar.

The tournament is the sixth of nine elevated events in the 2025 Asian Tour schedule, offering players from around the world a direct pathway into the LIV Golf League through its season-long rankings race.

That’s what Christ told his disciples, James and John, who, feeling aghast that the Samaritans were not welcoming to Christ, suggested that fire come down from heaven to consume them. (cfr. Lk 9,51-56) Of course, Christ rebuked them, telling them straight that they did not have the right spirit.

The proper spirit is precisely what Christ showed them and to all of us which is that of all-out charity, full of understanding, mercy, and magnanimity. It’s a charity that can continue loving even the enemies and would enable one to continue serving everyone even to the extent of giving one’s life as a ransom for all of us. (cfr. Mk 10,45)

We have to be wary of our tendency to fall into what is termed as bitter zeal. While it’s true that we should try to be always zealous in our life, we have to make sure that our zeal is righteous, holy, and charitable, not bitter, with a clear and proper sense of purpose, not just aimless.

Righteous zeal is always respectful of legal, juridical and, most importantly, of moral standards, especially that of charity and mercy. Bitter zeal wants instant results while ignoring legal and moral requirements, let alone the requirements of charity and mercy. It may pursue a valid cause, working for truth and justice, but without taking care of the appropriate means.

Bitter zeal makes a person hasty and reckless in his assessment of things. It fails to consider all angles, to listen to both sides, so to speak. He is prone to imprudence. In the end, it’s animated by the evil spirit of self-righteousness.

Inflammatory, incendiary words are its main weapons. Being belligerent is its style. It relishes in rousing controversies and sowing intrigues. It’s actually not as interested in looking for the objective truth and justice as carrying out one’s own personal agenda.

Especially when we engage ourselves in matters of opinion, we have to learn to practice restraint and moderation since no one has the exclusive ownership of what is right and fair. Opinions are views that are hardly based on absolute truths of faith and dogmas. They are more expressions of one’s preferences and tastes, and therefore we should expect a wide spectrum of differences, since things depend on people’s different temperaments, backgrounds, cultures, etc.

We have to learn how ‘bear each other’s burdens’ as suggested by St. Paul in his Letter to the Galatians (6,2). It’s the surefire formula of how to live genuine charity, one that is down to earth and easily and abidingly doable.

In this regard, we have to learn how to be magnanimous, knowing how to suffer since suffering is an unavoidable consequence of evil. Magnanimity is part of the charity as described by Christ. ‘Love your enemies and pray for those who persecute you,’ he said. (Mt 5,44) ‘If anyone strikes you on the right cheek, turn to him the other also.’

We need to enlarge our heart, to make it more universal to accommodate everyone and any situation and condition properly. We should evade being caught by the grip of our strong views, and even our positions that we think are so essential that they are not anymore subject to opinion.

We have to see to it that our thoughts, desires, and intentions, our words and deeds are always animated by charity. There should no negative elements in them. We have to have a good grip on our emotions, able to dominate and properly orient our biases, preferences, and other idiosyncrasies that constitute our differences and even conflicts with others. We have to learn to focus more on what we have in common rather than what divides us. We have to learn how to dialogue with everyone.

Lucio Tan-led Philippine Airlines (PAL) has been named as one of the world’s four-star airlines by an industry network that specifically assesses in-flight comfort and passenger service.

The flag carrier was recognized a four-star major airline for 2026 by the Airline Passenger Experience Association (APEX).

The APEX Awards are considered as some of the highest accolades in the aviation industry, as it gathers verified feedback covering more than one million flights yearly across over 600 airlines.

PAL chief operating officer Carlos Luis Fernandez said the award places the airline in the league of some of the world’s finest carriers.

As a four-star major airline, PAL was judged as one of the best for cabin comfort, food and beverage, in-flight entertainment and overall service.

‘We remain steadfast in sustaining the highest standards of service for the welfare of passengers we serve across our global network. The trust and confidence of our travelers inspire us in PAL to further elevate our service standards,’ Fernandez said.

Also joining the four-star list are Air Europa, Air Mauritius, Air Transat, Avianca, Brussels Airlines, Cayman Airways, Condor, EgyptAir, flydubai, Hong Kong Airlines and Icelandair.

The list also includes Kenya Airways, KM Malta Airlines, Norse Atlantic Airways, Royal Air Maroc, Royal Brunei Airlines, Royal Jordanian, SriLankan Airlines, Virgin Australia and WestJet.

Among global airlines, APEX gave five stars to some Asian carriers, such as Bangkok Airways, Gulf Air and Vietnam Airlines.

PAL is landing wins after wins in its recovery from the pandemic restructuring. The carrier won as the second most preferred airline in Southeast Asia at the 2025 Flyers’ Choice Awards.

Cirium also named PAL as the most punctual airline in Asia and the Pacific for August. The airline turned in an on-time rate of 89.37 percent during the month, outperforming even some of the region’s finest like Singapore Airlines and Malaysia Airlines.

PAL plans to maintain its position as a respected full-service carrier through the addition of new aircraft and the refurbishment of existing assets.

Currently, PAL is reconfiguring 18 of its Airbus A321ceos by sacrificing seats to expand space for passenger comfort, and the airline will receive new long-range aircraft starting at the end of this year.