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Gabe Norwood scored a tip-in late in regulation before Rain or Shine preserved a come-from-behind 96-95 overtime victory over Meralco in the PBA Philippine Cup on Saturday at Ynares Center II here.

Two days after announcing his desire to retire at the end of the conference, Norwood came through off Adrian Nocum’s miss with 1.2 seconds left in the fourth that evened things up at 90-all. Rain or Shine would eventually take control in the extension before stopping Allein Maliksi’s shot before the horn to end a thrilling start to its all-Filipino campaign.

The 40-year-old Norwood posted 11 points and three rebounds in a great start to his retirement tour. Coach Yeng Guiao later said Norwood was supposed to call it quits after last season, but opted to have one more run at it.

Caelan Tiongson was also huge for the Elasto Painters by posting 23 points and 10 rebounds and also had a hand in the comeback from double digits in the fourth. His four-point shot cut the Meralco lead to 89-88, before Chris Newsome split his two foul shots, missing the second, that set the stage for Norwood’s tip. Tiongson also scored a sort of insurance basket that extended Rain or Shine’s lead to 96-93, with over two minutes to go in overtime.

Bong Quinto and CJ Cansino scored 18 points apiece but the Bolts dropped to a 0-2 start.

Ayala Land Inc. (ALI) has started raising up to P15 billion from its sustainability-linked bond offer after the Bangko Sentral ng Pilipinas (BSP) cut rates for the fourth time this year.

The Zobel family-led real estate giant informed the Philippine Stock Exchange on Friday that the Securities and Exchange Commission had approved its issuance.

The offer will have a base amount of P10 billion. There is an oversubscription option of up to P5 billion in case of high demand.

It will consist of Series C bonds due 2030 at a rate of 6.0671 percent per year. There are also Series D bonds due 2035 at 6.3192 percent.

The offer period will end on Oct. 15, with listing scheduled on Oct. 23.

This represents the fourth tranche of ALI’s P50-billion shelf registration approved in 2023. It raised P10.25 billion in June 2023, another P6 billion in July 2024 and P8 billion in November last year.

The latest issuance also comes after the BSP slashed the rate for overnight borrowing by another quarter point to 4.75 percent. This was the lowest since Sept. 2022.

Rate cuts typically make fixed-income securities, like bonds, more attractive because these promise a higher yield for investors.

‘Well-received’

Augusto Bengzon, ALI management committee member and former chief financial officer, earlier told reporters they decided to pursue another sustainability-linked bond offer because this had been ‘well-received’ by investors.

The developer is aiming to launch 21 projects worth P57 billion in the second semester of the year.

Roughly two-thirds of these will be in the premium market under AyalaLand Premier and Alveo Land. This is in recognition that this segment still performs better than its core markets, or those in the middle-income segment.

ALI netted P14.2 billion in the January to June period. This was up by 8 percent thanks to its diverse portfolio, although the weak residential market prevented faster growth.

Revenues, on the other hand, were flat at P83.1 billion.

Apart from the residential segment, ALI is also pursuing expansion in its hospitality business.

In June, AyalaLand Hospitality took over the 500-key New World Hotel in Makati. This drove the group closer toward its goal of doubling its hotel room capacity to 8,000 by 2030. /rwd

Leading real estate developer CitiGlobal Realty and Development Inc. is truly committed to bring forth affordable leisure properties with its mission of building a master-planned, self-sustaining community in high-growth areas.

Filipinos aspiring to have peaceful homes and long-term investments can look forward to the Tagaytay Fontaine Villas.

Located in the progressive Alfonso in Cavite, the Tagaytay Fontaine Villas is another key project of CitiGlobal, which forms part of an integrated Metro Tagaytay development alongside the land developer’s two other flagship ventures-Tagaytay Clifton Resort Suites and Glendale Tagaytay Commons.

‘Tagaytay Fontaine Villas is designed to contribute to the masterplan destination lifestyle with reasonably priced homes. Tagaytay Clifton Resort Suites is the condotel arm while the Glendale Tagaytay Commons will cater to the future mixed-use commercial and community areas,’ CitiGlobal said in a statement.

CitiGlobal is infusing P750 million into the Tagaytay Fontaine Villas, which, when completed in 2026, would feature 98 single-detached units enclosed in two- and three-story configurations, made more beautiful with Tagaytay’s temperate climate and scenic terrain and proximity to destination and commercial centers. So far, a total of 63 units have been sold and 31 are available (mix of RFO and pre-selling). Pretty soon, CitiGlobal will open its doors as Tagaytay Fontaine Villas is already 80 percent complete.

Amenities standard are in the pipeline of fast-tract construction including enhancements to the clubhouse, meditational garden and swimming pool, all designed to increase the property’s livability and value. ‘Tagaytay Fontaine Villas is for short-term vacationists and long-term residents who are looking an ideal blend of seclusion and accessibility made even more convenient by infrastructure improvements such as CALAX, Skyway, and Mendez flyover, which ease travel to and within Metro Tagaytay from Metro Manila.’

For those looking to maximize their investments, Tagaytay Fontaine Villas will retain four homes to be operated as boutique BB units, thus showcasing its income-generating potential.

Tagaytay Fontaine Villas is well-positioned for investors seeking passive income with over P47.7 billion in AirBnB guest spending in 2022 alone and Tagaytay consistently ranking as PH’s top ranking tourist and wedding destinations.

‘We have partnered with a boutique management company to oversee BB operations. This allows unit owners to generate an estimated P250,000 to P500,000 annual income depending on unit type and occupancy, even in a primarily weekend-market like Tagaytay,’ CitiGlobal also said.

To learn more about available units, BB income potential, or to schedule a viewing, email us at [email protected].

Conglomerate San Miguel Corp. (SMC) emerged as the best company to work for in the Philippines, leading nine Philippine companies that landed on Forbes Magazine’s 2025 list of the ‘World’s Best Employers.’

SMC was ranked 42nd overall, 47 notches higher than its rank last year.

The company, led by billionaire Ramon Ang and whose businesses span infrastructure, energy and food, currently has more than 56,000 employees.

Ayala Corp. came second at No. 139.

‘Our Strategic Human Resources Group does a very good job of hiring exceptional people and then giving them the support they need to be effective and succeed. It’s really all about people,’ Ayala president and CEO Cezar Consing said in a statement.

The country’s oldest conglomerate employs at least 64,000 people across its real estate, telecommunications, utilities, logistics and banking services.

Other local companies that were recognized for their commitment to employee well-being despite global and domestic uncertainties are Metropolitan Bank and Trust Co. (154th), Land Bank of the Philippines (187th), LT Group Inc. (421st), Century Pacific Group Inc. (453rd), Jollibee Foods Corp. (455th), BDO Unibank Inc. (585th) and Cebu Air Inc. (770th).

‘For companies around the world, this past year has been tumultuous, from global economic uncertainties to political unrest and extreme weather emergencies,’ Forbes said on its website.

Employee well-being

Citing a separate employer well-being strategy survey conducted by the Business Group on Health, Forbes noted that multinational companies ‘remain consistent in their commitment to employee well-being.’

‘But to ensure that employee well-being is truly a priority, internal company systems must foster a healthy work-life balance on an everyday basis,’ it added.

Forbes partnered with market research firm Statista to survey more than 300,000 employees across over 50 countries.

Participants were asked via an online survey how likely they were to recommend their employer to family and friend. They rated their companies based on salary, career advancement opportunities, work-life balance and reputation.

Companies were eligible for the ranking if they employed more than 1,000 people and operated globally, according to Forbes. INQ

An ailing Novak Djokovic was knocked out of the Shanghai Masters semifinals on Saturday by world number 204 Valentin Vacherot.

The 26-year-old qualifier from Monaco beat Djokovic 6-3, 6-4 to deny him a record-extending fifth title in Shanghai. A hobbling Djokovic, 38, threw up courtside and received medical treatment multiple times.

Vacherot will face either his cousin, the unseeded Frenchman Arthur Rinderknech, or Daniil Medvedev in Sunday’s final.

‘I’m trying to pinch myself, is this real,’ said Vacherot after the biggest win of his career.

‘I know not many of you guys wanted me to win,’ he told the crowd, who had cheered thunderously for 24-time Grand Slam champion Djokovic. ‘To have Novak on the other side of the court was first of all an invaluable experience for me. ‘I have a hundred feelings right now.’

Djokovic, the former world number one, said Vacherot’s unlikely run in the tournament was ‘an amazing story’.

Vacherot is the lowest-ranked player to reach an ATP Masters 1000 final since the format’s introduction in 1990.

‘I told him at the net that he’s had an amazing tournament, but more so his attitude is very good.so it’s all about him,’ said Djokovic.

‘I wish him all the best in the finals and the better player won today.’ Health issues

Djokovic declined to answer questions about his physical state.

He had said after his last match that he was concerned after battling vomiting bouts, leg injury scares and fatigue throughout the tournament.

However, he looked alert and seemed to be having a dream start when he broke in the first game.

But the satisfaction was short-lived as Vacherot broke back instantly.

The Serb began having issues in his left leg at the start of the seventh game, stopping to stretch multiple times and dropping to the ground at one point.

He had to take an extended medical break, lying on his stomach shirtless as a physio attended to his back. He got up but was still uncomfortable, hitting a ball against the wall in frustration after having to shake his leg out again.

With Djokovic clearly unable to move normally, Vacherot had an easy time breaking again in the eighth game, then fired two aces to hold the ninth and claim the set.

Djokovic received treatment again at the break, but was clearly still struggling in the second set.

In temperatures of 31 C and humidity levels of 62 percent, Djokovic managed to hold the first game despite facing breakpoint twice and falling to the ground again.

Serving in the ninth game he hit two double-faults in quick succession before recovering, only to ultimately be broken upon committing another.

Two teenagers died while their companion, another teen, was hurt when their motorcycle crashed into a fence in Catanauan, Quezon early on Saturday, October 11, police said.

The Quezon police in a report said that the motorcycle driver, ‘Aries,’ 17, lost control of his vehicle while negotiating a curve section of the national road in Barangay Tagbacan Ibaba of the town at around 3:20 a.m.

The wayward motorcycle consequently crashed into a concrete fence on the side of the concrete road made wet by the rains.

Due to the strong impact of the crash, Aries and his two back-riders, identified as ‘Sheena,’ 16, and ‘Jairus,’ 18, sustained grave injuries and were rushed by rescuers to a hospital in the locality.

Aries and Sheena were both declared dead on arrival at the hospital, the report stated.

The report did not state whether or not the riders were wearing crash helmets, which is required by the Motorcycle Helmet Act of 2009

Displaying grit, University of Santo Tomas outlasted Ateneo, 98-89, in triple overtime in the UAAP Season 88 men’s basketball tournament at Blue Eagle Gym Saturday night.

The thrilling duel was the first UAAP men’s basketball game in the Final Four era that went to three OTs. It also marked the first time in 20 years that the Blue Eagle Gym staged a men’s basketball doubleheader and the Growling Tigers were there to play spoilers.

UST had three players scoring at least 20 points, led by Nic Cabañero, who fired a game-high 22 that went with 11 rebounds.

Collins Akowe, who logged 51 minutes, also notched a double-double with 20 points and 19 rebounds with three steals and three blocks, while former Blue Eagle Forthsky Padrigao had 20 of his own in a triumphant homecoming.

‘Triple overtime, throw away the numbers. It was all heart for both teams. Both teams were going down already because of fatigue and cramps, but we fought all the way. No one wanted to go out. So it boiled down to that last [overtime], and between the two, we made more shots,’ said UST assistant coach Juno Sauler, who filled in for head coach Pido Jarencio.

The Tigers, who hiked their record to 4-1, scored nine unanswered points in the third extra session to open up a 94-85 lead after Akowe’s basket at the 2:17 mark that took the fight out of the exhausted Blue Eagles. ‘They had homecourt advantage, but we were not thinking about that. We just knew that we could win this game and that won’t happen without the players and coaches’ trust,’ said Cabañero.

Gelo Crisostomo also had a career game for UST, tallying 18 points, highlighted by crucial baskets, and 17 rebounds.

The Tigers go for a third straight victory and the solo lead in the standings on Wednesday against Far Eastern University at Mall of Asia Arena.

Ateneo guard Jared Bahay came alive in extra time to finish with 17 points but missed the third OT due to a shoulder injury.

The Eagles have now lost back-to-back games and dropped to 4-2.

Dalph Panopio was glad to see his PBA debut end on a winning note as Blackwater cruised past Terrafirma on Friday here.

Getting the 107-87 result at Ynares Center II in this town still known informally as Montalban was one of many things the third overall pick in last month’s Rookie Draft was thankful for.?’All I wanted before the Draft was to be in a perfect team,’ Panopio said after finishing with 13 points, six rebounds, four assists, and two steals in 27 minutes for a Blackwater squad that set in motion its quest to go from pushover to playoff club in the Philippine Cup.

‘And I feel like since the first workout [with Blackwater] before the Draft that this was the team for me,’ added the 25-year-old guard born to Filipino parents in Italy. Panopio showcased his playmaking skills that could bode well for the Bossing’s initial goal for the season-opening conference.

Panopio was just one of the main reasons for Blackwater’s triumph.

Christian David came into the season with a new contract and apparently with new vigor after posting 18 of his 24 points during the first half, which saw Blackwater take control of the Terrafirma side.

RK Ilagan, tasked to be more of a leader by Jeffrey Cariaso, who is now in his fifth season as coach, also stepped up with 22 points while hauling down a career-high 10 rebounds, prompting coach Cariaso to joke that the 5-foot-7 guard will be tasked to play center in the next game.?The Bossing will next face the Meralco Bolts on Wednesday at Smart Araneta Coliseum.

Blackwater prevailed despite missing the services of second-year guard Sedrick Barefield, who is still bothered by a shoulder injury.

Cariaso said Barefield was supposed to be a go for the opener after recovering from the injury he sustained while battling a hard screen in the Kadayawan Invitational Basketball Tournament in Davao City last August.?Even without Barefield, the Bossing pummeled a Dyip side that got a big performance from new addition Jerrick Ahanmisi.

Ahanmisi dropped 25 points on six triples on top of seven rebounds, three assists and three steals, but Terrafirma had to sulk after the stinging setback. The Dyip will return to action on Sunday against the NLEX Road Warriors at the original Ynares Center in Antipolo.

It was not the good start to the coaching tenure of Terrafirma’s Ronald Tubid, who actually spent more time handing out the reigns to his lead assistant Jeff Napa.

Napa, who calls the shots for National University in the UAAP, was drawing up the plays during timeouts, though Tubid could be spotted giving out instructions as well. INQ

Likely driven by memories of a previous tragedy, some 132 families or 581 individuals from four coastal villages here evacuated to safer grounds on Friday evening after state seismologists raised a second tsunami warning following a 6.8-magnitude earthquake that struck off Manay, Davao Oriental at 7:12 p.m.

According to Mayor Samuel Co, when they saw the families taking refuge at the covered court in the City Hall grounds, he ordered local government personnel to attend to the evacuees’ needs. Hot meals were prepared and the facility’s tiled floor was cleaned to facilitate the family’s temporary stay Co said that even as the city was not included in the tsunami warning, they still made it a point to help the families feel secure for the night. ‘It was better that way than have them return to their homes with unease about what might happen,’ Co told the Inquirer.

Although the Philippine Institute of Volcanology and Seismology had cancelled its second tsunami warning by 11:12 p.m. on Friday, the families chose to stay for the night at the covered court, Co noted.

On Saturday, as the families had felt comfortable with the situation, they took turns returning home in the villages of White Beach, Santiago, San Pedro and Kawit, Co added.

Co explained that because many older residents in the city’s coastal communities have memories of the 1976 Moro Gulf tragedy, it was understandable that flashbacks of these drove them to seek safer grounds. At past midnight on Aug. 17, 1976, or almost 50 years ago, a magnitude 8.1 quake struck at the Moro Gulf, generating a tsunami that swept through the coastal communities of Zamboanga del Sur, Lanao del Norte, Lanao del Sur, Maguindanao, Sultan Kudarat, Sulu and Basilan provinces, including Zamboanga, Cotabato and Pagadian cities.

At least 5,000 people were killed in the tragedy, many from the tsuanmi that left a wide swathe of destruction in the coastal communities, including in this city.

While Bulacan has attracted more than P200 billion in business investments from 2022 to the present, officials warned this week that worsening flooding may threaten future economic prospects.

This concern was raised during the launch of the Bulacan Ease of Doing Business (EODB) program held on Tuesday at the Mesa Alta restaurant in Hiyas Pavilion, in this city.

Ernesto Delos Reyes Jr., director at the Board of Investments (BOI), noted that several local and international investors have acquired land in towns and cities of Bulacan for township and business projects, but the recent flooding episodes have become a red flag for some stakeholders.

Green lane

‘Many have already bought land for industrial economic zones,’ Delos Reyes told the Inquirer. ‘But there are also comments like, ‘Why is it suddenly flooding? Hold on-this needs to be resolved.’ Because these are long-term investments, investors are closely watching how fast the flooding issue can be addressed. But ultimately, their main focus remains on the ease of doing business.’

According to Delos Reyes, major infrastructure projects such as the Bulacan airport and railway systems have drawn substantial portions of the total investments.

He also noted that Bulacan is the only province in Central Luzon to secure at least five projects under the BOI’s Green Lane, which expedites environmentally sustainable investments. These include ventures in renewable energy, greenhouse agriculture and cold storage facilities.

Delos Reyes noted the country’s bid to become a Green Lane investment hub in Southeast Asia, particularly in services and manufacturing, though he acknowledged that the Philippines had previously fallen behind regional neighbors due to a lack of strategic investment policies.

Anti-Red Tape Authority (Arta) Secretary Ernesto Perez, who also spoke at the event, said that while Bulacan has faced issues surrounding flood control project anomalies, it continues to shine as a model for EODB reforms.

‘Over P200-billion worth of investment is something to celebrate. I congratulate Bulacan officials for championing the ease of doing business in their respective localities,’ Perez said.

He referred to Baliwag City as an example, citing its fastest online process for securing government permits-surpassing even a city in Metro Manila in terms of efficiency.

Perez also reiterated the Marcos administration’s directive to eliminate bureaucratic red tape, saying ‘the President instructed us to roll out the red carpet, not red tape. This is how we welcome investors and ensure real progress.’

Perez also referenced Republic Act No. 11032 or the EODB and Efficient Government Service Delivery Act of 2018, which aims to simplify government procedures and cut processing time for business-related transactions.

Bulacan Gov. Daniel Fernando underscored that the province’s investment drive is not only for large-scale ventures but also for micro, small and medium enterprises (MSMEs).

‘We want every Bulakenyo to have their own chance of becoming successful-to become investors themselves,’ the governor said. INQ

To support this goal, the Provincial Government Cooperative and Enterprise Development Office (PCEDO) has increased its investment loan assistance to P500,000 per borrower.

PCEDO head Lawyer Jayric Amil said more than 50 individuals and cooperatives in the province have benefited from their loan program. The office allotted P24 million in its 2025 budget to sustain and expand these initiatives.

Fernando said Bulacan is aiming to be recognized as the Most Business-Friendly Province in the Philippines, noting that it is currently ranked among the Top 5 in this category.