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Cebu’s largest property developers and hospitality groups have moved to reassure the public and investors that their facilities remain structurally sound and operational after a 6.9-magnitude earthquake shook the province on September 30.

Mandani Bay, a major mixed-use development in Mandaue, said preliminary inspections showed no major damage to its estate. The company has commissioned an independent structural consultant to conduct a full audit ‘as a precaution,’ noting that operations continue uninterrupted.

BE Hotels and Resorts, which operates residential and hospitality projects across Cebu, including BE Residences and Mabuhay Towers, reported no structural damage and said engineering teams remain on site to carry out further safety checks.

Cebu Landmasters Inc. (CLI), one of the region’s largest listed developers, confirmed all its projects were unaffected.

‘No structural damages were found across our sites. All residents were promptly attended to, and monitoring protocols were carried out to ensure their safety and comfort,’ the company said, adding that inspections would continue across its portfolio.

Tourism establishments, a key pillar of Cebu’s economy, also reported limited impact.

Jpark Island Resort and Waterpark in Mactan said its facilities were cleared following an engineering review, while Bai Hotel Cebu confirmed its building was safe for occupancy after an initial evacuation.

Cebu Safari and Adventure Park in Carmen declared both facilities and guests safe.

Nustar Resort and Casino Cebu said inspections showed no injuries or casualties and emphasized guest safety as its ‘utmost priority.’ Its shopping complex, The Mall at Nustar, temporarily suspended operations on October 1 to allow comprehensive structural assessments. Management said repairs, if required, would follow ‘the highest safety standards.’

Maayo San Remigio, a resort in northern Cebu, opted to suspend operations temporarily pending a full structural review, citing guest safety as the primary concern.

Tourism Secretary Christina Garcia Frasco visited Cebu on October 1 and ordered the Tourism Infrastructure and Enterprise Zone Authority to conduct safety inspections of heritage churches in Daanbantayan, Bantayan, Tabogon and San Remigio, alongside major tourism establishments in Metro Cebu and northern parts of the province.

The Department of Tourism (DOT) also activated its 151-TOUR hotline to field inquiries from travellers.

Industry executives underscored that disaster preparedness and rapid response protocols remain central to Cebu’s property and tourism sectors, which account for a significant share of the province’s economic activity.

‘The well-being of residents, tenants and guests remains our top priority,’ Mandani Bay said, echoing a sentiment repeated across Cebu’s business community as the province seeks to balance immediate safety concerns with sustaining investor and tourist confidence.

Department of Transportation (DOTr) is readying a directive that will allow the co-designing of a public transport system framework involving various sectors and underrepresented end users to address the challenges in public commuting and mobility.

At the Philippine Mobility Summit 2025, DOTr’s Supervising Transportation Development Officer Lucas Mangulabnan said the department’s order hoped to engage more people in the crafting of the framework for effective solutions to the country’s public transport system woes.

‘So, we’re pushing for this to be enacted as a Department Order to transform the way we work in the department. We hope that other implementing agencies can catch on as well and that we’re currently refining the legal aspect of the department order, and hopefully this will be rolled out soon,’ Mangulabhan told the forum recently.

According to Mangulabnan, the DOTr hopes to include persons with disabilities (PWDs), senior citizens, women, expectant mothers, small children, people with children, LGBTQ folk, people carrying heavy or bulky luggage, and other underrepresented end-users, or what he called the accessibility or inclusion reference group (AIRG), in the formulation of the framework.

The AIRG, he said, will function as an independent consultative group that will be ‘regularly and intimately involved’ in co-designing ‘with the technical consultants and experts in conducting the feasibility study and preparing detailed engineering designs for passenger facilities and conveyances while providing direct feedback and alternative solutions for the implementing agency to consider.’

Grab, which sponsored the Philippine Mobility Summit 2025, said people’s involvement in the crafting and designing of the government’s transportation and mobility plans was a step in the right direction.

‘To hear civilian voices, to enable the exchange of ideas, to co-create solutions to make mobility in the Philippines better is the appropriate approach because they are the ones who experience first-hand the problems or shortcomings during their daily commute. They are the ones who can identify issues and what can be done to address these effectively,’ said Grab Philippines’ Booey Bonifacio.

Mangulabnan admitted that experts and consultants usually involved in the planning and implementation of transport infrastructure projects were not regular riders of jeepneys, buses, nor motorcycle taxis – a situation wherein accessibility and inclusion in the public transport framework ‘tend to get lost’.

The co-design framework that the transportation department is developing hopes to make interactions happen between the AIRG, ‘people with lived experience,’ and technical experts and implementing agencies.

‘The government cannot do it alone and when it’s in place, we’re very much looking forward to seeing more involvement and active participation from the public in the delivery of our transport projects. It is public money, after all,’ Mangulabnan said.

The Philippine Mobility Summit, held recently at One Ayala in Makati City, is the culmination of the ‘Philippine Mobility Series,’ which discussed road safety, inclusive urban public spaces, low-cost mass transit, and transport transformation from April to August.

The first-ever such summit in the country was presented by AltMobility PH and co-presented by the DOTr, supported by the Move As One Coalition, and sponsored and co-sponsored by Grab, Ayala and GIZ, and The Asia Foundation and Ayala Land, respectively.

Members of the Home Mutual Development Fund or Pag-IBIG Fund, who were affected by the recent disaster in the Cebu region may now borrow a calamity loan worth up to 90 percent of their total savings, including employer contributions and dividends.

Pag-IBIG vice president of the public and member relations group, Jack Jacinto Jr., said they are also assessing the condition of houses owned by members with existing housing loans, noting that those damaged homes may receive assistance through the lending insurance tied to their housing credit.

‘There are two things here, which are our Pag-IBIG calamity loan, that is in cash and applied for by the members. And the insurance for housing loan borrowers to cover the damage, especially those affected by the earthquakes,’ he said.

Repayment for the Pag-IBIG calamity loan will commence three months after its release and be fully repaid over a period of up to three years, a measure designed to provide members with sufficient time to recover from disaster-related losses, according to Jacinto.

Calamity loan applications can be filed online, providing members with convenient access to financial assistance without the need for in-person transactions.

Jacinto said that members with existing loans may still borrow under the program, although the loanable amount will be adjusted based on their outstanding balance.

‘Members may still apply for a loan, but the amount will be deducted based on what their savings can cover. Whatever their savings can still accommodate will be the amount that can be lent,’ he said.

A magnitude 6.9 earthquake jolted Cebu at 9:59 p.m. on Tuesday. According to the Philippine Institute of Volcanology and Seismology, the epicenter is east of Bogo City at a 10-kilometer depth.

Paolo (international name: Matmo) intensified into a typhoon on Friday morning, October 3, with PAGASA set to raise Signal No. 4 over portions of northern Luzon and Aurora.

As of 8 a.m., Paolo was spotted over the coastal waters of Dilasag, Aurora.

The storm packed maximum sustained winds of 130 kilometers per hour near the center, with gusts of up to 180 kph.

Paolo is moving west-northwestward at 25 kph.

Wind signals

In its 8 a.m. weather bulletin, the state weather bureau said the following areas are under tropical cyclone wind signals:

Signal No. 3

northern portion of Aurora (Dilasag, Casiguran, Dinalungan)

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

northern portion of Quirino (Maddela, Cabarroguis, Aglipay, Saguday, Diffun), the northern portion of Nueva Vizcaya (Diadi, Bagabag, Villaverde, Ambaguio, Quezon, Solano, Bayombong)

Mountain Province

Ifugao

southeastern portion of Abra (Tubo)

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

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

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

Winds of 118 to 184 kph are expected within 12 hours in these areas, with typhoon-force winds likely once Paolo makes landfall or passes close by.

Signal No. 2

central and southern portions of mainland Cagayan (Peñablanca, Tuguegarao City, Enrile, Solana, Iguig, Tuao, Piat, Rizal, Santo Niño, Alcala, Amulung)

rest of Isabela

rest of Quirino

rest of Nueva Vizcaya

central portion of Aurora (Dipaculao, Baler, Maria Aurora, San Luis)

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

central and southern portions of Apayao (Conner, Kabugao)

Kalinga

rest of Abra

rest of Benguet

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

rest of Ilocos Sur

rest of La Union

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)

Residents under Signal No. 2 may experience minor to moderate impacts from winds of 62 to 88 kph within 24 hours.

Signal No. 1

rest of mainland Cagayan including Babuyan Islands

rest of Aurora

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

Camarines Norte

northern portion of Camarines Sur (Siruma, Tinambac, Lagonoy, Garchitorena, Caramoan, Goa, San Jose, Presentacion)

Catanduanes

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

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

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

Areas under Signal No. 1 could experience minimal to minor impacts from winds of 39 to 61 kph within 36 hours.

Severe winds

Typhoon-force winds may reach over 185 kph in areas under Signal No. 4. PAGASA warned of widespread damage to structures, power interruptions and uprooted trees in affected localities.

The state weather bureau also warned that the periphery of Paolo will bring strong to gale-force gusts over the following areas not currently under wind signals:

Friday, October 3: Batanes, Central Luzon, Metro Manila, CALABARZON, Bicol Region, Panay Island, Occidental and Oriental Mindoro, Northern Samar and Eastern Samar

Saturday, October 4: Batanes, Cagayan including Babuyan Islands, Ilocos Region, Zambales and Bataan

Sea conditions

Gale warnings remain in effect over the seaboards of Northern Luzon and the eastern seaboard of Central Luzon.

Very rough to very high seas: Up to 11 meters over the seaboards of Isabela and northern Aurora, extremely hazardous even for large vessels.

High seas: Up to 6 meters along the eastern seaboard of mainland Cagayan, western seaboard of Ilocos Norte, and seaboards of Ilocos Sur and La Union.

Moderately high seas: Up to 5 meters across remaining seaboards of mainland Cagayan, Ilocos Norte, and Babuyan Islands.

Rough seas: Up to 4 meters off Batanes, seaboards of Aurora, and northern and eastern coasts of the Polillo Islands.

Moderate seas: Up to 3.5 meters in northern Quezon, Camarines Norte, Pangasinan, Catanduanes, and Camarines Sur.

Slightly rough to moderate seas: Up to 2.5 meters in exposed waters of Quezon, Bicol, Northern Samar, and western Zambales and Bataan.

PAGASA strongly advised against sea travel in these areas as waves and swell heights may worsen with Paolo’s approach.

Track and intensity

Paolo is forecast to move west-northwestward and may make landfall over northern Aurora or southern Isabela on Friday morning or around noon.

After crossing Northern Luzon, it is expected to emerge over the West Philippine Sea by late Friday and exit the Philippine area of responsibility on Saturday morning, October 4.

The Department of Information and Communications Technology (DICT) is putting in place extra screws to tighten the cybersecurity requirements of the Konektadong Pinoy Act ahead of the entry of new players.

The draft implementing rules and regulations (IRR) of the Konektadong Pinoy Act showed that new data transmission industry participants (DTIPs) would have to undergo more scrutiny upon entry.

For one, the DICT will come up with guidelines detailing the risk profile per DTIP segment, with considerations for factors like market share, network coverage, among others.

Once a DTIP enters the market, it will be asked to comply with the cybersecurity requirements of the DICT to prevent unauthorized access and protect national security. They have to conform to principles of National Cybersecurity Plan 2023-2028 and its future iterations.

In particular, the DICT will mandate DTIPs to set up a computer emergency response team. They will also be tasked to adopt a secure software development life cycle and zero-trust framework.

DTIPs also have to subscribe to global standards, particularly the International Organization for Standardization, National Institute of Standards and Technology and Center for Internet Security.

On top of this, DTIPs will be mandated to develop and roll out a risk management plan covering business continuity, data classification and supply security.

Likewise, they will be required to submit to the DICT a vulnerability assessment and penetration testing and a material report for every cybersecurity incident encountered.

Afterward, DTIPs have to secure a cybersecurity certification from a third-party organization in two years from registration. They also have to obtain a certificate of compliance from the DICT to proceed with their operations in the Philippines.

Failure to comply with these certifications will lead to the suspension of their operations. If they fail to be certified in six months, the DICT will revoke all of their licenses, and they will forever be prohibited from setting up data transmission in the country.

Prior to its enactment into law, the Konektadong Pinoy Act was flagged by telco providers for its alleged neglect of cybersecurity protocols by giving new DTIPs two years to get certified.

Information Secretary Henry Aguda, in response, said the IRR would reinforce the cybersecurity aspect of the law that seeks to entice more telcos to offer connectivity to Filipinos.

Mindanao-based real estate and agro-industrial developer Damosa Land has become the first securities issuer to successfully register under the streamlined guidelines for selling or offering investment contracts through rental pool agreements.

The Securities and Exchange Commission (SEC) announced that it has approved Damosa Land’s rental pool program, making it the first securities issuer to successfully register under the streamlined guidelines for Securing and Expanding Capital in Real Estate Non-Traditional Securities (SEC RENT).

Rental pool agreements are defined by the SEC as investment contracts, where a property developer sells or offers units in real estate projects, such as condominiums, hotels, or resorts, to the public.

Under these arrangements, buyers contribute their units to a rental pool, which is managed and operated by the company or a third-party operator.

The buyers, in turn, are entitled to receive a share in profits earned by renting out the units to third parties.

The SEC RENT was implemented through SEC Memorandum Circular 12, Series of 2024. It streamlines the registration process for securities of real estate firms involved in selling or offering investment contracts through rental pool agreements.

The SEC en banc, in a meeting on Sept. 26, resolved to render effective Damosa Land’s registration statement covering 100 certificates of participation in the condotel project of TRYP by Wyndham Samal, subject to its compliance with remaining requirements.

The certificates, which are valid for 20 years starting from the date of the operation, cover 94 standard class condotel units with an offer price of P50,000 each, four deluxe class units worth P75,000 each and two suite class units with an offer price of P100,000 each.

All units in TRYP by Wyndham Samal will be enrolled under a mandatory condotel rental pool program.

The SEC said that each unit will automatically be included in the rental pool upon purchase, allowing it to be marketed, rented and managed as hotel accommodation for hotel guests without transferring ownership.

There will be a new feature in announcing the decision on a coach’s challenge in the PBA’s Golden Anniversary season that reels off at the Smart Araneta Coliseum on Sunday. The previous practice was the public address barker would simply announce the verdict without explaining why. This time, the calling referee will take to the microphone, announce the decision and explain why. While the announcement is being made, the large-screen video monitor in the venue will replay the contested action to show why the decision was made. The audio-visual connection may not be perfect at first but both PBA and broadcast coverer TV5/CignalTV will work closely to deliver the best possible synch for fans to appreciate the justification of the decision.

PBA commissioner Willie Marcial said it’ll be a challenge for referees to polish their communication skills. They’re not trained to be public speakers but with this innovation, they’ll get used to not just explaining a decision to the crowd but also communicating it to be understood. PBA head of operations Eric Castro said 23 referees are on the roster this season, one less from the starting lineup previously. Of the 23, three are rookies.

Marcial noted that another change is players on the court will now be allowed to huddle with their coach ‘on the bench area’ but will remain standing during a challenge review. The challengeable calls are act of shooting or sideline throw-in, traveling, flopping, eight-second violation, backcourt violation, 24-second shot clock remaining, blocking or charging, blocking or flopping and charging or flopping.

Still another innovation related to a challenge is in the course of a review, a violation is spotted and will be called ‘provided it took place in the same play phase.’ The situations where this will apply are third party contact, blocking or charging, foul on out-of-bounds or last touch call or all kinds of fouls, including charging and blocking. This follows the NBA practice. As an example, if a challenge is made on a last touch call and the review will spot a foul on the play, it will be called even without a challenge on the contact.

Marcial said in the last two minutes of the game, the referees may review a conversion, whether a two, three or four-pointer or free throw, on the immediate deadball. If the shot isn’t reviewed at that point, it may no longer be reviewed. This eliminates the controversy that happened during Game 1 of the Philippine Cup Finals last season where Mo Tautuaa’s shot with 56 seconds left was nullified on a table officials’ review with 6.2 ticks to go, creating confusion as it impacted the outcome.

Philippine billiards icon Django Bustamante will be the captain of Team Asia for the secon edition of the Reyes Cup set later this month.

Bustamante, a former world champion who was also a rival of Efren ‘Bata’ Reyes, will be the non-playing captain of Team Asia, opposite ‘Double J’ Jeremy Jones, who will take the helm for Team Rest of the World.

In the inaugural season of the Reyes Cup, Team Asia, made up of Johann Chua, Carlo Biado, Ko Pin-yi, Duong Quoc Hoang and Aloysius Yapp, brought home the championship against Team Europe, composed Jayson Shaw, Mickey Krause, Eklent Kaçi, David Alcaide and Francisco Sánchez Ruíz.

Now, there will be a much greater challenge for Team Asia, as they battle some of the best pool players from outside the continent.

‘It is such an honor to be named captain of Team Asia, especially here in the Philippines. The Reyes Cup means so much to our fans, and I will do everything I can to lead our team to defend the title Efren claimed,’ Bustamante said.

‘Last year was special, but this year we know the challenge will be even greater. Jeremy is a great champion and competitor, but I am ready to keep the Cup in Asia,’ he added.

For his part, Jones said that his long playing experience ‘is a real privilege.’

‘Team Asia will be tough, especially with Django at the helm, but we’re coming to Manila with one mission: to make history and take that trophy back with us,’ he said.

With captains confirmed, attention now turns to the final player qualification spots, to be decided at the Hanoi Open Pool Championship from October 7-12.

Wildcard selections will follow shortly thereafter.

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.