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The Philippine Stock Exchange Index (PSEi) fell on Tuesday, extending losses to a fifth straight session. Investors stayed cautious over geopolitical tensions and rising inflation risks.

The benchmark index slipped 0.58 percent or 34.36 points to close at 5,866.79.

Philstocks Financial research manager Japhet Tantiangco said sentiment remained fragile as investors monitored the situation between the United States and Iran with no clear resolution in sight.

Market participants also continued to price in higher inflation and interest rate expectations for the local economy. This added pressure on equities.

The Philippine peso’s decline past the 61-per-dollar level further dampened sentiment. This raised concerns over imported inflation and capital flows.

Peso pressure

‘The weaker currency heightened inflation and policy concerns, prompting investors to reduce risk exposure. The market remained cautious ahead of upcoming economic data releases,’ Ron Acoba, chief investment strategist at Trading Edge Consultancy, said.

Despite the drop, trading was active, with net value turnover reaching P6.92 billion, above the year-to-date average of P6.4 billion.

Foreign investors remained net sellers, recording net outflows of P878.07 million. This underscored persistent risk aversion.

Sectoral performance was mostly negative. Only the mining and oil and conglomerates posted marginal gains of 0.07 percent and 0.05 percent, respectively.

Industrials led the decline, falling 1.32 percent, as the broader market stayed under pressure.

Market breadth was weak, with only nine index gainers for the session.

JG Summit Holdings Inc. emerged as the top index gainer, climbing 2.19 percent to P27.95.

Analysts noted that continued external uncertainties, currency weakness and elevated rate expectations may keep the market volatile in the near term.

Cavite City is expected to remain under a ‘danger’ heat index level on Tuesday and Wednesday, according to the Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa).

Based on Pagasa’s 5 p.m. bulletin on Monday, the city is forecast to record a heat index of 44°C on both days.

The locality has been experiencing dangerous heat conditions since April 23, with readings ranging from 42°C to 45°C on Monday.

Pagasa lists heat index levels between 42°C and 51°C under the ‘danger’ category. The heat index reflects how hot it feels to the human body, combining air temperature and relative humidity.

At this level, prolonged exposure may cause heat cramps, heat exhaustion, and heat stroke.

The city government warned that the sustained extreme heat poses serious health risks to residents.

‘The City Government of Cavite reminds everyone to stay safe from the threat of heat stroke and other heat-related illnesses by drinking water regularly, applying sunscreen, and using an umbrella when outdoors,’ it said in an advisory posted on Facebook Tuesday morning.

The Bureau of Internal Revenue (BIR) on Tuesday said it has authorized tax audits on nine businesses linked to Vice President Sara Duterte and her husband, Manases Carpio.

According to the BIR, it ordered the issuance of Letters of Authority (LOAs) for the audits after determining that probable cause exists to ‘warrant a formal audit investigation of the subject taxpayers’ and to allow revenue officers to ‘examine the taxpayer’s books of accounts and other accounting records.’

‘A Letter of Authority is the legal instrument of the BIR to initiate formal tax audits of any taxpayer. It is not a conclusion of liability, but it is a necessary step in determining the correct taxes due,’ BIR Commissioner Charlito Mendoza said in a statement.

‘Accountability begins with the consistent application of the law. Where there is a basis to investigate, the BIR will do so. And if evidence of tax violations exists, it is our duty to pursue the appropriate civil, administrative, or criminal remedies,’ he added.

The businesses subject to audit are as follows:

Carpio Lawyers (Formerly Carpio and Duterte Lawyers)

Zelta Matiem Salon

City Hall King Chow Foods Corporation

Davao Bounty Times Foods Corporation

Madayaw Fisheries Inc.

Davao Emerging Taipans Corporation

Amianan Shores, Inc.

Cale88 Foods Corporation

Geometry Security and Investigation Agency, Inc.

The agency then explained that the order to issue the LOAs for the aforementioned businesses was primarily based on third-party information, including information gathered from publicly available and official sources—which is authorized under Section 5 of the National Internal Revenue Code.

It also took into account the Office of the Ombudsman’s testimony regarding Duterte’s statements of assets, liabilities, and net worth, as well as reports from the Anti-Money Laundering Council revealed during the House impeachment proceedings against the vice president.

‘The end objective of this lawful exercise is to collect the correct taxes due to the government,’ Mendoza said.

‘This will be a rules-based approach in determining the truth. Rights will be accorded to the audited entities. This will be fully compliant with all Run After Tax Evaders protocols, the primary enforcement program of the Bureau for tax evasion and tax fraud,’ he added.

Philippine National Police (PNP) Chief Gen. Jose Melencio Nartatez Jr. maintained that there were ‘only a few’ erring police officers in the agency after a Criminal Investigation and Detection Group (CIDG) official was linked to crimes in Negros Occidental.

‘This kind of police officer symbolizes termites that threaten to destroy what we [have all] built for the PNP. We will not allow that to happen by exhausting all necessary measures to identify them and hold them accountable,’ Nartatez said in a statement on Tuesday.

‘There are only a few of them in the PNP,’ he stressed.

Interior and Local Government Secretary Jonvic Remulla previously identified the implicated CIDG official as Maj. Edgar Tonico Jr., chief of the police unit’s Bacolod City field office.

Remulla accused Tonico of shielding a criminal syndicate operating a purported illegal cigarette factory and a supposed illegal online cockfighting (e-sabong) hub in Negros Occidental, both of which were raided by authorities last week.

In response, Nartatez said he will ‘personally monitor the progress of the investigation to ensure that criminal and administrative charges would be filed without sacrificing due process.’

Further, the PNP chief ordered the CIDG and the Integrity Monitoring and Enforcement Group to intensify its intelligence and information-gathering against erring police personnel.

Filipino pageant fans are in for a treat as the 2026 Miss Universe Philippines coronation show welcomes its special guests — Thai personalities Nawat Itsaragrisil and Veena Praveenar Singh.

Nawat himself broke the news in a live video, and the Miss Universe Thailand social media pages confirmed it with a post. Although more popularly known as the founder and president of the Miss Grand International pageant, he is also currently the vice president of Miss Universe (Asiana).

‘Mr. Nawat and Veena Praveenar, Miss Universe 2025 1st Runner-Up, will be in the Philippines from May 1–3. They are set to attend the Grand Final of Miss Universe Philippines 2026 on May 2. Join us for this special moment! [star emoji],’ the Thai pageant page posted.

Veena herself has a significant following among Filipino pageant fans, being a four-time Miss Universe Thailand aspirant before getting her chance on the international Miss Universe stage, eventually finishing second to Mexico’s Fatima Bosch.

However, there have been no updates whether the reigning Miss Universe will also drop by the national coronation show. Her predecessors Victoria Kjær Theilvig, Sheynnis Palacios, R’Bonney Gabriel, and Harnaaz Sandhu all visited the Philippines during their respective reigns.

Bosch had earned the ire of many pageant fans in the Philippines and around the world who said she was the least deserving of the crown of all five finalists, and that the competition was rigged by Miss Universe president Raul Rocha in her favor.

Rocha is a Mexican tycoon whose business interests reportedly have ties with Bosch’s father. Such allegation was further amplified by French-Lebanese musician Omar Harfouch who resigned from being a selection committee member just days before the 2025 Miss Universe coronation show, citing supposed irregularities.

Final competition judge and Miss Universe 2005 Natalie Glebova also raised her concern about the absence of an auditing firm during the show, and revealed that she and several judges she spoke to had chosen different candidates as winner.

But this will not be the first time that a current Miss Universe first runner-up will grace the Miss Universe Philippines stage. Last year, 2024 first runner-up Chidimma Adetshina joined Theilvig and the other ‘continental’ queens at the staging of the national competition.

Nawat also had his fair share of controversy during the 2025 staging of Miss Universe when delegates led by Bosch walked out of a conference hall at the start of the season, earning the ire of some pageant observers. As franchise owner of Miss Universe Thailand, he was also head of the hosting committee for the Miss Universe 2025 delegations.

Aside from attending the coronation show, the Miss Universe Philippines Organization still has not announced any other activity for Nawat and Veena during their visit to the Philippines.

The 2026 Miss Universe Philippines coronation will take place at the Mall of Asia Arena in Pasay City on May 2. Fifty delegates are vying to succeed reigning queen Ahtisa Manalo.

Global drag superstar Marina Summers will host the ceremonies with P-Pop boy group BGYO set to perform on stage.

Heart Evangelista said she is now prioritizing her well-being following a fainting episode that she experienced during the Milan Fashion Week.

In the latest episode of ‘Heart World’ season 2 over the weekend, Evangelista recalled the time she blacked out after attending 14 shows at the international fashion event.

‘Nahimatay din ako sa Milan, by the way. Na-black out ako sa gitna ng daan after the Versace show. Parang nanlalamig ako na ‘di ko maintindihan, akala ko dahil sa kinain ko or something. Sumuka ako nang konti pero walang lumabas,’ she said.

(I also fainted in Milan, by the way; I blacked out in the middle of the street after the Versace show. I felt like I was getting a cold that I didn’t understand, and I thought it was something I ate. I threw up a little but nothing came out.)

Evangelista recounted that she felt she might collapse, but even before her team could do something about it, she lost consciousness in the street.

‘Sabi ko, ‘Halika na, umuwi na tayo.’ Totoo pala yung mga saying na nakakita ka ng mga bituin, ang dami kong nakitang bituin. Tapos sabi ko kay Ghil (my hairstylist), parang hihimatayin ata ako pero akala niya nagjo-joke ako,’ she narrated.

(I said, ‘Come on, let’s go home.’ It turns out that the saying about seeing stars is true; I saw a lot of stars. Then I told Ghil (my hairstylist) that I felt like I was going to faint, but he thought I was joking.)

‘Alam mo talagang pak… ‘di ko na matandaan. Nagising na lang ako hawak-hawak na nila ako. Ando’n kami sa labas ng restaurant, nahimatay ako sa daan,’ she added.

(You really know… I don’t remember. I just woke up, and they were holding me. We were outside the restaurant; I passed out on the way.)

Following the incident, Evangelista said she made a conscious effort to take better care of herself.

‘So after that, sabi ko, ‘Okay, kakain na po ako talaga. I make sure that I drink a lot of water,’ she said.

Evangelista earlier made headlines after she made her first appearance at Shanghai Fashion Week, posing to grow her presence in more global fashion week events.

The Kapuso actress previously opened her wardrobe to the public as she held a two-day closet sale on April 25 and 26 in Quezon City.

Evangelista also recently attracted media attention after comedian Ate Gay disclosed to the public that the actress helped him financially amid his battle with cancer.

Students of Eastern Samar State University (ESSU) are set to gain access to paid international training opportunities after the university forged a landmark partnership with Bixter Academy, marking the first such agreement in the Visayas region.

The collaboration, formalized through a memorandum of agreement signed on Monday, allows ESSU students—particularly those in agriculture and allied programs—to participate in structured internship placements abroad that combine classroom learning with hands-on industry exposure. They also get compensation for it.

The agreement was signed by Bixter Academy Chief Executive Officer Nataliya Jorgensen and ESSU President Andres Pagatpatan, with support from the provincial government of Eastern Samar under Governor Ralph Vincent Evardone.

Bixter Academy, a Europe-based organization, specializes in facilitating paid internship programs across sectors such as agriculture, hospitality, and skilled trades, primarily in countries like Denmark and other parts of Europe.

Its programs are designed to provide students with real-world work experience, cultural immersion, and competitive earnings while completing their training abroad. Participants typically undergo pre-departure preparation, including language and skills training, before being deployed to partner companies overseas.

The partnership builds on groundwork laid in 2025 through initiatives led by the provincial government during the term of former governor Ben Evardone.

Gov. Evardone said expanding global opportunities for Estehanon youth remains a priority, noting that the program will allow students not only to gain international experience but also to earn income that can support their families.

‘This initiative opens doors for our students to compete globally while uplifting their communities,’ he said, expressing gratitude to Bixter Academy for investing in local talent.

University officials said the program is expected to strengthen ESSU’s internationalization efforts and enhance the employability of its graduates by equipping them with globally competitive skills, particularly in agriculture, where modern practices and technologies are rapidly evolving.

The signing ceremony concluded with an open forum, where students raised questions on application processes, qualifications, and deployment timelines, and were addressed by representatives from Bixter Academy.

Gilas Pilipinas 3×3 men’s team eked out a close 18-14 win over India Tuesday to march on to the semifinals of the 6th Asian Beach Games at the Sanya Sports Centre Gymnasium here.

After squandering an 11-8 lead, the Gilas men needed a 5-0 push in the last minute of the match to seal the victory and keep their medal chances alive

Jeff Manday zoomed inside for the game-tying basket, 14-all, with 22 seconds left before crucial foul calls against Aldous Torculas and Manday allowed the Philippines to put the icing on the cake.

Torculas’ key free throws with 9.8 ticks left gave Gilas breathing room, 16-14, before Manday’s freebies sealed the deal.

After the match, Manday credited his team’s character that allowed them to hang on for the victory.

‘Although, we were the underdogs, we fought until the end. I’m thankful for my teammates. We’re a young team, but we work hard to represent our country well,’ Manday said in Filipino.

The Philippines set up a semifinal duel with Thailand Wednesday at the same venue.

The Pasig City government has ordered the shutdown of a hotel linked to the wife and son of former Rep. Mike Defensor in connection with alleged human trafficking and prostitution.

In a closure order dated April 27 and made public on Tuesday, the local government said operatives from the National Bureau of Investigation (NBI) discovered ‘serious illegal activities involving human trafficking and the facilitation of prostitution’ during a raid on April 21 at the Bleu Hotel, owned by Zerrin Development Corporation.

According to the closure order, these acts violate the Anti-Trafficking in Persons Act (Republic Act No. 9208), as amended, as well as pertinent provisions of the Revised Penal Code.

In a statement issued the same day, the NBI emphasized that the closure was not based on speculation or politics but on ‘serious allegations involving human trafficking and prostitution’ that carry grave legal and moral consequences.

‘At the same time, in the spirit of due process and fairness, it must be underscored that the case is not yet final. All parties are entitled to the full protection of the law, including the opportunity to answer the charges, present evidence, and undergo proper judicial proceedings before any final determination of liability is made,’ it said.

The NBI added that under existing laws, accountability extends beyond those directly managing the hotel’s day-to-day operations. Owners, incorporators, and individuals with legal or beneficial control over such establishments may also be held liable.

‘Human trafficking is among the most heinous crimes under Philippine law. It exploits the vulnerable, strips individuals of their dignity, and turns human lives into sources of profit. As such, any establishment found to have been used as a venue for such activities must be held accountable in accordance with the law,’ the bureau said.

Defensor camp issues denial

Prior to the closure order, the NBI had already filed charges on April 25 against Defensor’s wife, Julie, and son, Miguel, over their alleged connection to the hotel.

The NBI said Julie was listed as chairperson and Miguel was named as treasurer of the Zerrin Development Corporation. These were denied by Defensor’s family matriarch.

‘We have absolutely no connection to the targeted establishment or its operations. Any attempt to link our family to the abhorrent acts allegedly committed there is a deliberate, dangerous, and desperate lie,’ she said in a statement.

‘This is part of a relentless pattern of harassment, and the collateral damage is devastating,’ she also said.

Rizal Commercial Banking Corp. (RCBC) reported a 12-percent increase in first-quarter 2026 profit. This was attributed to core business expansion and lower funding costs.

The Yuchengco-led bank said on Tuesday that its net income reached P2.7 billion.

Net interest income rose 25 percent year-on-year to P15.4 billion, thanks to sustained lending growth.

Gross revenues climbed 16 percent to P17 billion, as consumer loans grew 27 percent, led by auto, credit card, and housing segments.

Total deposits increased 9 percent to P1 trillion. The current and savings account ratio was pegged at 50 percent while deposit costs declined 29 percent.

RCBC said digital platforms and data-driven acquisition strategies continued to support growth in high-quality credit segments and strengthen its balance sheet.