Asianet Pakistan Private Limited

Looks like it’s the Insurance Commission’s (IC) turn to weed out or sanction bad actors within its sphere of influence.

This, after the ever-widening investigation into the extent of the corruption in flood control projects revealed that even nonlife insurance companies are involved.

As the Senate hearings have revealed, only a handful of closely related non-life firms wrote the insurance policies that were supposed to cover the risk of infrastructure projects not being completed on time and according to the agreed specifications.

Over the past several years, these firms were able to earn piles of money as these policies had never been activated since the projects themselves were certified as completed, even if they weren’t.

That assurance that the policies would not be used supposedly allowed these insurance companies to give ‘massive’ kickbacks-to the tune of 70 percent of the premiums-to those who went for their companies rather than competing nonlife insurance companies who could not penetrate the market for the construction bonds covering projects of the Department of Public Works and Highways (DPWH), including flood control projects.

It should come as no surprise then, that not one of the largest nonlife insurance companies in the country are involved in the questionable projects.

Biz Buzz sources said the IC is now poring over the records of the involved companies to determine liability.

And in the meantime, since the policies have actually been written, perhaps local government units or even the DPWH itself under the new leadership may consider making a claim, if only to recover something from these questionable projects. -Tina Arceo-Dumlao

BCDA turns to rugby to help youth

The Bases Conversion and Development Authority (BCDA) has joined forces with the Philippine Rugby Football Union (PRFU) and the country’s rugby team, the Philippine Volcanoes, to promote youth empowerment through rugby.

A recently held rugby clinic gathered about 30 youths from Bamban and Capas towns in Tarlac to introduce the basic of the sport and instill the importance of teamwork, discipline and resilience.

BCDA also took the opportunity to introduce its community development initiatives, particularly the Ayta Ethno Botanical Center (AEBC) in New Clark City.

‘The collaboration between PRFU and BCDA underscores their shared vision to foster sports development and community empowerment, while celebrating the rich heritage of the indigenous peoples of Tarlac,’ the state-run firm said.

The timing of this collaboration could not have been better, as the Philippine Volcanoes are gearing up for the Asia Rugby Emirates Sevens Series, an annual series of regional rugby sevens tournaments in the region.

Who knows? The next rugby superstar might come from this part of the country. -Jordeene B. Lagare INQ

The government’s debt service burden more than tripled in August, driven by higher amortization payments following a mammoth settlement of maturing bonds.

Debt payments surged by 257 percent year-on-year to P664.7 billion, according to the latest cash operation report of the Bureau of the Treasury.

This brought the eight-month tally to P1.54 trillion, nearly flat from the comparable period last year. The amount accounted for 73 percent of the P2.1 trillion that the Marcos administration targeted to spend this year on debt servicing.

Amortization costs accounted for the surge. Payments ballooned 350 percent to P601.6 billion in August, though the year-to-date figure slipped 8 percent to P956.7 billion.

The Treasury said the state settled P597 billion in principal payments it owed to domestic creditors, nearly five times more than last year. This included the full settlement of P516.34 billion in maturing peso bonds, the largest repayment this year.

From January through August, principal payments to local lenders totaled P768.5 billion, down 13 percent.

Interest up, too

Payments to foreign creditors plunged 67 percent in August to P3.7 billion, though the year-to-date amount rose 17 percent to P188.2 billion.

Interest expenses also climbed. The government spent P63 billion in August, up 20 percent from a year earlier.

That was part of the state’s total expenditures during the month, which edged down by 0.74 percent to P437.3 billion. Under current rules, only interest payments are booked as part of expenditures, while principal repayments are treated as off-budget items recorded in financial accounts.

Since the beginning of the year, interest expense has reached P584 billion, 15 percent bigger year-on-year.

The Treasury reported that domestic creditors received P46 billion in August, 18 percent higher than last year, bringing the eight-month tally to P429 billion. Interest on foreign borrowings grew 25 percent to P16.7 billion, putting the total so far at P155 billion, up 6 percent.

This year, the government plans to borrow P2.6 trillion from lenders to plug a projected budget deficit of P1.6 trillion, equivalent to 5.5 percent of gross domestic product. The drive is expected to push the debt stock to P17.36 trillion by year’s end.

Fiscal planners say they will continue to favor onshore borrowing to limit exposure to foreign exchange risks. The Marcos administration has also made clear it is seeking an upgrade to an A-level credit rating, a distinction it hopes to achieve by keeping debt metrics in check while sustaining economic growth. -Ian Nicolas P. Cigaral INQ

Alex Eala reached a new career high in the Women’s Tennis Association (WTA) rankings.

The Filipino tennis ace climbed to World No. 54, up four spots from her previous rank despite coming off an early exit at the Wuhan Open.

Eala bowed out in the first round of the Wuhan Open qualifiers, falling to Japan’s Moyuka Uchijima, 6-4, 3-6, 6-2, on Saturday.

‘Some crazy matches this week back to the drawing board with a bit more experience and a lot of sweat lost????,’ Eala wrote on Instagram on Saturday.

The 20-year-old Eala was coming off a hectic September that began with a maiden WTA title win at the Guadalajara 125 Open.

Eala, however, hasn’t been able to get over the hump since then.

The Rafa Nadal Academy graduate suffered a quarterfinal exit at the Sao Paolo Open before getting the boot in the Jingshan Open semifinal. She also lost in the quarterfinal at the Suzhou Open on Friday.

Sen. Jinggoy Estrada will file perjury charges against former Department of Public Works and Highways – Bulacan Assistant District Engineer Brice Ericson Hernandez after the latter linked the senator to the anomalous infrastructure projects.

Estrada’s office made the announcement in an advisory released Monday, saying that the senator would lodge the charges against Hernandez before the Quezon City Prosecutor’s Office on Oct. 7.

Last month, Hernandez linked Estrada to the questionable infrastructure projects.

Contrary to the statements of Senator Rodante Marcoleta during the Senate blue ribbon committee hearing on September 8, Hernandez said that Estrada is ‘not safe’ from allegations linked to the projects.

‘Senator [Rodante] Marcoleta said yesterday, ‘You are safe.’ This is not true. Sen. Jinggoy Estrada, Sen. Joel Villanueva, [DPWH] Undersecretary Robert Bernardo, and DE [district engineer] Alcantara. Senator Jinggoy laid out P355 million in 2025 for some projects in Bulacan,’ Hernandez said in Filipino.

In response, Estrada said he would file charges against Hernandez as he denied the allegations and described them as ‘kathang-isip at gawa-gawa’ (imaginary and made-up).

Estrada likewise reiterated his call for a lie-detector test with Hernandez to determine who among the two of them is telling the truth.

Estrada said the allegation that he secured P355 million in infrastructure deals in Bulacan was unfounded, as any line item from the General Appropriations Act could be linked to any senator.

Regine Velasquez has called for ‘stolen wealth’ to be poured back to Cebu, after giving her two-cents on why corruption still thrives amid the national outrage over the multibillion-peso flood control projects awarded by government to alleged anomalous contractors.

In a series of posts on her X account, Velasquez joined other celebrities who are voicing their dissatisfaction over the national issue, pointed out that the ‘selective’ justice system is the reason behind rampant corruption.

‘Hay hindi ko mapigilan ang sarili ko nagagalit talaga ako. Alam nyo kung bakit hindi natatapos ang kurapsyon?? Kasi walang consequences (I can’t help myself. I’m really angry. Do you know why corruption doesn’t end? Because there are no consequences). Justice is selective,’ she wrote.

Hay hindi ko mapigilan ang sarili ko nagagalit talaga ako Alam nyo kung bakit hindi natatapos ang kurapsyon?? Kasi walang consequences. Justice is selective.

The ‘Dadalhin’ hitmaker also lamented how ordinary Filipinos continue to pay taxes. She also called on corrupt officials to return their ‘stolen money’ and pour it back to Cebu, which is still reeling from the magnitude 6.9 quake last September 30.

‘Lahat ng ninakaw itulong nyo sa Cebu (All of your stolen money should be used for Cebu instead)!!!!!’ she said.

‘In the meantime, we continue to pay taxes. Taxes na pinagpaguran natin lahat may tax baka isang araw magising tayo na ultimo hangin may tax na (Taxes that were borne out of our hard work. Everything is taxed. We might wake up one day to discover that even the air we breathe is taxed),’ she said in a separate post.

In the meantime we continue to pay taxes. Taxes na pinagpaguran natin lahat may tax baka isang araw magising tayo na ultimo hangin may tax na

Velasquez did not post on social media if she participated in the Sept. 21 anti-corruption rallies in Manila and Quezon City, although her husband Ogie Alcasid was spotted recording the protesters at the People Power Monument.

The Asia’s Songbird is nonetheless among the many celebrities who publicly expressed their fury at the widespread corruption related to the alleged anomalies in flood control funds tied to the Department of Public Works and Highways (DPWH) and contractors.

Justice Secretary Jesus Crispin Remulla has been included in the shortlist of candidates being considered as Ombudsman.

‘Pursuant to Article VIII, Section 9 of the Constitution, the Judicial and Bar Council has the honor to submit the following nominations for the position of Ombudsman,’ read the letter dated Oct. 6, 2025, addressed to President Ferdinand Marcos Jr.

Aside from Remulla, there are six other names, out of the 17 candidates, that are included in the shortlist.

Also included in the shortlist are the following:

former Commission on Audit (CoA) Chairperson Michael G. Aguinaldo

retired Court of Appeals Associate Justice Stephen C. Cruz

Supreme Court Associate Justice Samuel H. Gaerlan

Deputy Executive Secretary Anna Liza G. Logan

retired Supreme Court Associate Justice Mario V.Lopez

Sandiganbayan Associate Justice Michael Frederick L. Musngi

The list is already with the president.

An ombudsman is tasked with investigating and prosecuting government officials accused of graft and corruption.

The position became vacant after the term of former Ombudsman Samuel Martires ended last July 27, 2025.

The JBC, a constitutional body tasked with screening nominees for the judiciary and top Ombudsman posts.

President Ferdinand R. Marcos Jr. has acknowledged the potential of blockchain technology in enhancing data transparency in the national budget and government projects.

In the first part of the fifth episode of the BBM Podcast aired on Monday, Marcos was asked whether blockchain and artificial intelligence (AI) are among the solutions to ensure that future budgets are free of these insertions and anomalies.

‘I haven’t seen any AI that is specifically geared towards that. Blockchain is something that could work,’ he responded.

‘However, what has happened has been that we have violated the rules. Those rules exist and simply we don’t. In the last decade, they stopped following the rules,’ he also said.

Blockchain technology is a decentralized and immutable digital ledger that records transactions in blocks, linked chronologically in a chain, creating a shared, tamper-proof database stored across multiple computers in a network.

During last week’s hearing of the Committee on Science and Technology, Sen. Bam Aquino pushed for the proposed Senate Bill No. 1330, also known as the Philippine National Budget Blockchain Act, stating that it will strengthen collaboration among the executive and legislative branches of the government, as well as with other groups.

‘Through blockchain, all budget transactions become transparent, immutable, auditable, and accessible to citizens in real time,’ said Aquino.

‘To put our national budget on the blockchain answers many concerns and issues with our current system, where there are insertions and ghost projects. The public can see how people’s money is spent, he added.

Toll roads and cell towers, among many others, may soon be considered ‘REIT-able’ assets. These are properties that can be added to the portfolio of entities wishing to establish their own real estate investment trusts (REITs).

This, as the Securities and Exchange Commission (SEC) seeks to amend the rules of the REIT Act of 2009. The SEC wants to liberalize access to the local capital market.

REITs are corporations that invest in income-generating real estate assets, like malls and office buildings and renewable energy power plants.

These are the most common asset portfolios of REITs in the Philippines. They include the Ayala group’s AREIT Inc., Citicore Energy REIT Corp., Filinvest REIT Corp. and the Gokongwei group’s RL Commercial REIT Inc.

According to SEC Chair Francis Lim, part of their proposed amendments to the REIT law is the addition of other allowable investments for REITs.

Currently, the law allows investments in real estate, real estate-related assets and investible funds, among others. However, it does not explicitly define which income-generating assets are qualified.

‘We will enumerate them in order to minimize issues,’ Lim told reporters in a recent interview.

Lim cited the Civil Code, which states that real estate assets are immovable properties. Going by this definition, he pointed out that cell towers may be characterized as REIT assets.

Toll roads may also be considered, especially since these are income-generating properties managed by companies, Lim said.

In expanding the definition of REIT assets, the official explained that more firms would be able to list and participate in the local capital market. This would enable access to other sources of funding.

The SEC earlier expressed interest in revisiting the law’s rules as part of its goal of attracting more investors in the Philippine corporate sector and making it ‘one of the best in Southeast Asia.’

SEC Commissioner McJill Bryant Fernandez earlier told the Inquirer the draft amendments will be released for public comment within ‘early October.’

Apart from expanding the definition of qualified assets, the SEC is also considering changes to the law’s provision on tax income deductibility.

After June Mar Fajardo wrapped up a six-minute scrum with journalists, the 6-foot-10 San Miguel Beer center was approached by a familiar figure who played a key part in enriching the Beermen’s PBA history.

The man was the legendary Ramon Fernandez, the multifaceted center whose deep bag of skills, hard-to-break statistical achievements and championships collected make him a favorite candidate for the GOAT (Greatest Of All Time) debate.

‘Let’s leave [the GOAT debate] for the basketball fans to argue [about] and what have you. They know their basketball,’ Fernandez said of those arguments often foisted on social media and other corners of the Internet.

Fajardo is more than crowding him for that title now. For context, Fernandez has been called many monikers during his career: El Presidente. The Franchise. Don Ramon.

He used to be known, along with fellow legend Alvin Patrimonio, as the player with four MVP trophies and at one point during the PBA history, that record was deemed untouchable. On Sunday, Fajardo was officially crowned his ninth.

And it seems the MVP No. 10, a number that will likely be unreachable for maybe the league’s next 50 years, remains a strong possibility with Fajardo expected to be at the forefront of San Miguel’s quest to repeat as champion of the Philippine Cup.

‘As long as he stays healthy, he can still do it. I won my fourth [in 1988] when I was 35,’ Fernandez said of the 35-year-old Fajardo. ‘He just needs to control his weight because as you get older your knees will give out.’

That doesn’t seem far-fetched. Fajardo is a double-double waiting to happen every game. Not that he’s counting.

‘If it comes, it comes,’ Fajardo said. ‘But if I think about winning 10 MVPs, I will no longer think of my teammates or our team goals.’

But if he does succeed with helping San Miguel reach its team goals, championships, that 10th MVP would be practically sewn up.

Fajardo was the hands down choice as the best player of Season 49, beating NLEX’s Robert Bolick and Arvin Tolentino, who played last season with NorthPort before taking his act to South Korea.

The standout from Cebu garnered 3,041 points based on statistics and votes from the media and players. Bolick was second with 1,914 points followed by Tolentino with 1,901.

He also took home two other trophies for membership to the Mythical First Team and the All-Defensive Team.

Bolick, Tolentino, TNT’s Calvin Oftana and Fajardo’s teammate CJ Perez were also part of the Mythical First Team while 2021-22 MVP Scottie Thompson, fellow Barangay Ginebra star Japeth Aguilar, TNT’s RR Pogoy, Converge’s Justin Arana and Magnolia’s Zavier Lucero were in the Mythical Second Team.

Lucero joined Fajardo, Ginebra’s Stephen Holt, NorthPort’s Joshua Munzon and TNT’s Glenn Khobuntin in the All-Defensive Team while Munzon also had two trophies after winning Most Improved Player honors.

The Rookie of the Year went to Barangay Ginebra’s RJ Abarrientos while the Samboy Lim Sportsmanship Award was handed to Rain or Shine’s Gian Mamuyac.

The Leo Awards served as the official end to the 49th season and the transition to the landmark 50th that started at nearby Smart Araneta Coliseum, the opening ceremonies graced by former players who were instrumental in the five decades of the league considered as Asia’s first pay-for-play circuit.

Artists from the past, from Randy Santiago to Jett Pangan to Mike Hanopol, entertained the audience during the traditional ‘palabas’ in a prelude to the Barangay Ginebra-Magnolia tussle that was ongoing at press time.

It was in 2021 when I first learned how to write.

My mama prepared a table in our small garden, one with Christmas lights and a tiny bahay kubo decoration. I would sit there with my old, heavy laptop-all its keys creating sounds similar to that of a typewriter whenever I am immersed in my campus journalistic work. It was still at the height of the pandemic, when classes were largely remote and press endeavors had to be done online. I would sleep at six in the evening, wake up at four just before sunrise, make myself a mug of instant coffee, and listen to Chopin or Mozart or maybe Beethoven-it was my ritual for writing. I was familiar with the scent of midnight and the sight of daylight’s first fall on the ground.

Four years have passed since then. I am in college today at Los Baños, and I rarely come home to Rizal. The very few times I visit, this house always changes. The table I used to have in our small garden is no longer here. My office is now on a newly constructed balcony, where I can easily see the vast azure. The old chessboard set my dad gave me on my 14th birthday, with all the letters and paintings from old lovers inside it, is no longer under my bed in my room. The mountain in Montalban looks a little bit taller, complementing the sunrise even better. My table is no longer the table that seemed like it could break at the slightest motion, and my laptop does not sound like an ancient typewriter anymore.

Like countless iskolar ng bayan who travelled from their distant provinces to Laguna for college, I entered the university with courage. There was this feeling of certainty that I could just lose and find myself-be homesick, be hurt, drink in Puesto at night, jog at Pili Drive in the morning, join mobilizations in front of Oblation or at Carabao Park. I felt this sensation, this pride that made me think I could mold my world into what I want it to be at the University of the Philippines. ‘Go on a journey,’ I would imagine Mozart telling me from the skies, for a writer whose inspirations still partly root from classical music.

What I failed to realize is that parts of me had already been lost long before university. The were years I lost in the haze when everything broke, dreams and friendships and love.

Long years inside the pandemic changed me. I learned to pretend I was more mature. My hair grew so much longer, and I became more conscious about my appearance. I fell in love, got broken, then fell in love again in April. I wrote poems and unfinished anthologies, then got broken again. I met the music of The Ridleys, I listened to ‘Aphrodite’ and ‘Germany and Rome.’ I believed in love.

I miss writing poetry. I miss drafting editorials on issues that made me look smart when published in our student paper. I miss exchanging emails that make my heart flutter. I miss walking around campus, waiting for a jeep near Katipunan, navigating the roads of Anonas and Molave-things in my past life that I, in retrospect, took for granted and eventually lost. Maybe this is just a testament of what someone once told me, ‘Tomorrow is not certain, and it’s a dreadful thought to wake up without today’s warmth.’ I miss the café I used to stay at, which had already closed three years ago.

There is this uncomfortable feeling of grief for the things and people that I loved. I would often ask myself, what about the essays and poems and prose I wrote for those who would no longer care to read them? What of the words left unsaid and the screams still echoing? I could have written more. Reminiscing now, I see how I was so young three years ago before the pandemic, and I was so disillusioned when suddenly times changed, and I was older-I had to act older. This feeling has recurred lately. I would initially tell myself, ‘This discomfort is temporary.’ Things have no permanence, and I cannot cling to stillness.

But maybe, parts of me still willingly let themselves get stuck in these recollections, despite the initial preconception, because they are reminders of a life I once lived.

I remember once reading an article that said, ‘Home need not be a place.’ Indeed, home, now, feels more metaphorical than physical. That little boy-who is familiar with the scent of midnight and the sight of daylight’s first break, who loves to write on the table his mama prepared for him-does not know this.

Perhaps this is why, since childhood, I have always been fond of constructing sentences that imply my hopes for events that are no longer likely to happen, that are just absurd and outright impossible.I want to visit and relive the past again.I want to guide that little boy today, to show him the reality of constant shifts and changes, of heartbreaks and years of broken things.