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The local stock barometer settled just below 6,100 on Wednesday as optimism over the central bank’s next move intensified, especially after inflation in September had ended slower than expected.

By the end of the session, the benchmark Philippine Stock Exchange Index (PSEi) gained 0.25 percent, or 14.91 points, to close at 6,098.74.

Likewise, the broader All Shares Index added 0.31 percent, or 11.43 points, to 3,684.65.

A total of 4.54 billion shares worth P6.38 billion changed hands, stock exchange data showed.

Luis Limlingan, head of sales at stock brokerage house Regina Capital Development Corp., said investors continued shopping for shares ahead of the next policy meeting of the Bangko Sentral ng Pilipinas’ Monetary Board (MB) on Thursday, Oct. 9.

The MB is expected to price in the 1.7-percent faster inflation print in September, although this was slower than the 2 percent forecast of analysts.

Active stocks

International Container Terminal Services Inc. was the most actively traded stock as it climbed 3.02 percent to P528. It was followed by: Philex Mining Corp., which surged by 12.22 percent to P10.10.

BDO Unibank Inc. was up 0.43 percent to P140 each, while Bank of the Philippine Islands was down 3.63 percent to P108.70.

Property giant Ayala Land Inc. slipped 1.88 percent to P23.55 each.

Other key movers were:

Converge ICT Solutions Inc., up 3.81 percent to P13.08

Ayala Corp., up 1.16 percent to P490

Universal Robina Corp., up 2.82 percent to P76.60

Jollibee Foods Corp., down 0.45 percent to P219

Apex Mining Co. Inc., up 1.69 percent to P10.86.

Gainers edged out losers, 94 to 92, while 65 companies closed flat, stock exchange data also showed.

The House version of the 2026 national budget contains at least P230 billion in pork barrel and patronage-based projects despite the House committee on appropriations’ promises to avoid a repeat of the much-maligned 2025 General Appropriations Act (GAA).

This was according to a coalition of civil society organizations and budget watchdogs, which called on Congress to reallocate the entire amount instead to social protection, health, agriculture, and sustainable transportation programs.

‘We refuse to let the GAA remain a playground for patronage and corruption. We call on Congress to hit reset on the budget, clean it up, and restore integrity to our budget process to truly respond to the needs of the nation,’ they said in an open letter published on Tuesday.

Among the signatories were the People’s Budget Coalition, PH Budget Watch, Roundtable for Inclusive Development, Move as One Coalition, FOI Youth Initiative, Project Gunita, Caloocan Bishop Pablo Virgilio David, and former Sen. Franklin Drilon.

Observer status

Most of these groups were granted observer status by the House for the 2026 budget process as part of the chamber’s reforms to make the proceedings more transparent.

In their letter, however, they said they had ‘lost trust in the integrity of the budget process’ after the House budget amendments review subcommittee (BARSc) voted to insert billions into programs that they said ‘perpetuate political patronage.’

This, they said, comes with the House’s failure to ‘remove or rationalize line items that are opaque and prone to abuse,’ such as confidential funds and unprogrammed appropriations.

Unprogrammed funds

The BARSc was constituted for the first time in the history of Congress under House appropriations chair and Nueva Ecija Rep. Mikaela Suansing.

Before the House staged its marathon plenary deliberations on Sept. 23, the subcommittee moved to realign the P255 billion slashed from the Department of Public Works and Highways to, among others, the Department of Social Welfare and Development’s Assistance to Individuals in Crisis Situation, the Department of Health’s Medical Assistance to Indigent and Financially Incapacitated Patients Program, and the Department of Labor and Employment’s Tulong Panghanapbuhay sa Ating Disadvantaged/Displaced Workers program.

These programs, along with the controversial Ayuda para sa Kapos ang Kita program that was defunded this year, have long been criticized for being a form of congressional pork barrel.

4Ps, education

The budget watchdogs argued that these programs must either be transformed into ‘transparent, rules-based programs-or scrap[ped] altogether.’

The funds, they added, must be reallocated instead toward the Pantawid Pamilyang Pilipino Program (4Ps) and the full restoration of the government subsidies due to the Philippine Health Insurance Corp.

Specifically, they said, Congress must at least allocate the P50 billion they cut last year for qualified 4Ps beneficiaries.

The groups also corrected the House’s claims that the education budget-now at P1.224 trillion-already breached the benchmark of 4 percent of the gross domestic product (GDP), as the current allocation was equivalent to only 3.6 percent.

They also noted that the education sector saw an increase of only P35 billion, even though the Department of Education and related agencies asked for a total of P100 billion to cover, among others, shortages in classrooms, computers, and the provisions in the free college education law.

Beyond the P230 billion that they tagged as pork barrel, the groups also flagged the ‘bloated level’ of P250 billion in unprogrammed appropriations (UAs) in the National Expenditure Program (NEP).

UAs are standby authorizations that can be tapped only when new revenue or loans materialize.

These, they said, must be ‘slashed and heavily rationalized to ensure these are not used for local pork projects or be used as a pretext to sweep cash from government corporations with existing fiduciary mandates.’

Source of abuse

On the part of the House minority, Mamamayang Liberal Rep. Leila de Lima and Akbayan Rep. Perci Cendaña said they support Senate President Vicente Sotto III’s proposal to slash the UA completely from the 2026 national budget.

‘We’ve seen in 2023, 2024, and even 2025 that the UA has been a source of abuse,’ De Lima said, referring to testimonies that lawmakers have been inserting funding for public works projects in the NEP through the UA.

‘[The Senate position] is also our position and of the minority lawmakers. we’re hoping that, if we can’t remove it completely, then at least be very restrictive about it and limit it only to a few items and agencies,’ she added.

Cendaña, on the other hand, challenged the House leadership to also make the same commitment, emphasizing that if the projects under the unprogrammed funds were indeed important, ‘then they shouldn’t be unprogrammed in the first place.’

‘If the unprogrammed appropriations stay, then it might cast a shadow on our efforts to cleanse the stain of corruption from our national budget. We hope that Speaker Faustino Dy III will ensure its removal to show the House is committed to rebuilding public trust,’ he said.

Public Works and Highways Secretary Vince Dizon met with Cagayan Gov. Edgar Aglipay and local officials on Wednesday to discuss urgent solutions following the collapse of the decades-old Piggatan Bridge, which has left thousands of residents and farmers cut off from key trade routes.

During his inspection, Dizon announced plans to install detour bridges in areas with aging or structurally compromised spans while a more permanent solution is being worked out. He also committed to include the construction of a new bridge in the DPWH’s proposed 2026 national budget.

The 50-year-old Piggatan Bridge, built in 1974, collapsed on Monday afternoon after several overloaded trucks attempted to cross the span, exceeding its 18-ton capacity.

The collapse has severely disrupted travel and commerce for at least 100,000 farmers in Alcala and neighboring towns.

Aglipay earlier called for stricter monitoring of aging bridges in the province, including the Buntun, Gava, Baybayog, and Magapit bridges

The Independent Commission for Infrastructure (ICI) on Wednesday sent an invitation to former House Speaker Martin Romualdez and a subpoena to resigned Ako Bicol party-list Rep. Elizaldy Co to appear in its flood control probe hearing on October 14.

Budget Secretary Amenah Pangandaman was also invited to attend the hearing on Tuesday for ICI to seek authoritative guidance from the Department of Budget and Management about the National Expenditure Program and General Appropriations Act.

ICI will also inquire about programs linked to the ghost or substandard flood control projects, as well as the procedures for the release of the unprogrammed funds.

Based on the invitation to Romualdez and the subpoena issued to Co, both signed by ICI Chair Andres Reyes, the hearing set for Tuesday will be at 10 a.m. at the commission’s office in Taguig City.

Meanwhile, Pangandaman was asked to attend the hearing at 9 a.m.

Hearing invitation for Romualdez

Reyes asked Romualdez in the letter to appear before the ICI’s hearing on Tuesday to discuss his ‘familiarity and personal knowledge as Speaker of the House relative to the National Budget insertions, and as well as the DPWH (Department of Public Works and Highways) flood control projects.’

Romualdez was included in the copy of ICI’s immigration lookout bulletin order (ILBO) request to the Department of Justice (DOJ) dated this Wednesday.

Along with him in the ILBO list were Senators Francis ‘Chiz’ Escudero, Jinggoy Estrada and Joel Villanueva, ex-senators Bong Revilla and Nancy Binay, and several others.

Earlier, a former security consultant of Co said in a Senate Blue Ribbon committee that Romualdez allegedly received kickbacks from government projects. The Leyte 1st District Representative denied the allegation.

Subpoena vs Co

Meanwhile, the subpoena against Co stated that the resigned lawmaker is ‘hereby commanded and required to appear before the Commission to testify under oath relative to your personal knowledge ever since you joined the Committee on Appropriations of the National Budget insertions and your involvement in DPWH flood control projects.’

Co was directed to bring the following upon his appearance before the commission:

1. Contracts, records and reports related to any government projects, project proposals, feasibility studies and master plans for flood control projects that you or the corporation where you or your family have beneficial interest

2. Accounting forms and documents such as, but not limited to vouchers, invoices, official receipts, etc., relevant to the contracts, records and reports in No. 1

3. Incorporation and registration documents such as, but not limited to, the following:

Articles of Incorporation

Certificate of Business Registration

Latest General Information Sheet (including beneficial owner information)

Latest Financial Statement

Department of Trade and Industry (DTT) Registration

Latest Income Tax Return

License from the Philippine Contractors Accreditation Board

The DOJ earlier requested the International Criminal Police Organization (Interpol) to issue a blue notice on Co, as the resigned lawmaker has yet to be tracked down.

Recently, the ICI urged the Office of the Ombudsman to determine the appropriate charges to be filed against Co and 17 other public officials in connection with the alleged anomalies in a P289.5-million flood control project in Oriental Mindoro.

He also denied allegations that he was involved in flood control anomalies. /apl

Team Cebuana Lhuillier capped another impressive season with a finals finish at the 42nd PCA Men’s Team Tennis Championship, held on October 5, 2025, at the Philippine Columbian Association (PCA). The defending champions, who have long been recognized as one of the most consistent and dominant squads in Philippine tennis, once again showcased their trademark grit and sportsmanship in a tightly contested battle against PCA-JK Tyre.

In the championship tie, Cebuana Lhuillier fought valiantly across all five age-group matches. The team scored victories in the 60-and-over (8-4) and 50-and-over (8-4) categories, while narrowly conceding in the 65-and-over (5-7), 55-and-over (6-8), and 45-and-over (3-8) brackets. Despite the 2-3 overall result, Team Cebuana Lhuillier demonstrated depth, composure, and enduring competitiveness against another top-tier squad.

UTP President and Cebuana Lhuillier President and CEO Jean Henri Lhuillier commended the team for its strong showing and enduring legacy: ‘I’m extremely proud of how our players continue to represent the Cebuana Lhuillier spirit – with determination, discipline, and heart. Our consistent success in the PCA Championship is a testament to the team’s hard work and love for the game. We look forward to coming back stronger next year as we continue to nurture tennis talent and elevate the sport across the country.’

With this runner-up finish, Cebuana Lhuillier further solidified its legacy as a powerhouse in Philippine team tennis – boasting an incredible record of 11 titles and five finals appearances throughout its storied history in the PCA Men’s Team Tennis Championship. The team’s consistent presence in the finals continues to reflect its commitment to excellence, camaraderie, and passion for the sport.

Okada Manila, the six-time Forbes 5-star integrated resort, powers up the Halloween season with a lineup of events and offers from October 7 to November 2, 2025. This year’s campaign, themed Heroes and Villains, promises unforgettable cosplay events, family adventures, and limited-time offers across dining, wellness, and stays.

At the heart of the celebration are two major events happening on October 25 and 26, 2025: on October 25, 2025, PLAY’s Halloween Takeover at Cove Manila (PHP 2,888 for Child Pass and PHP 688 for Adult Pass) transforms the iconic venue into a Halloween fantasyland with interactive game booths, and a fun trick-or-treat trail. Families can enjoy and entire day of entertainment, with exclusive cabana available for an elevated experience. Meanwhile on October 25 to 26, 2025, Cosmeet at Crystal Pavilion is a cosplay-meets-Halloween convention where heroes and villains collide, with fans showcasing never-before-seen costumes, joining competitions, and exploring immersive photo zones and booths.

The excitement continues across the resort’s dining venues through Feasts of Legends, a showcase of Halloween-inspired flavors available from October 21 to November 2. Guests can indulge in hauntingly playful cakes (starting at PHP 450) at The Pastry Shop and enjoy themed cocktails (starting at PHP 420) and mocktails (starting at PHP 250) across signature restaurants, each offering its own creative twist. From bold concoctions like the Tangerine Goblin at Red Spice to seasonal espresso blends (starting at PHP 220) at the Lobby Lounge, dining at Okada Manila turns into a multisensory Halloween celebration, with Medley Buffet adding to the festivities through a themed dessert station, specialty drinks, and a fun Trick-or-Treat activity for families to enjoy together.

Preparing for your Halloween party look? Guests can head to the Nail Art Studio at The Retreat Spa, where the exclusive Halloween Nail Inspiration collection offers limited-time nail art designs that add a festive, spooky-chic touch perfect for completing your party-ready style.

For adventure enthusiasts, Thrillscape presents the Zombie Escape challenge (starting at PHP 796), an adrenaline-pumping adventure where guests outwit the undead in exchange for exclusive prizes. Meanwhile, adding to the festive excitement are resort-wide promotions running from October 7 to November 2. At The PLAY Store, guests who spend a minimum of PHP 2,000 from October 31 to November 2 can take on the Swing and Score game for a chance to win prizes. Over at The Gift Boutique, shoppers who spend at least PHP 1,000 during the same period can enjoy the Treats for Your Picks promo with exclusive Halloween surprises.

Bataan 2nd District Rep. Albert Garcia has assured the public that the Senate has already given its concurrence for the House of Representatives to extend its session until Monday, October 13, to pass and approve the proposed 2026 national budget.

In an ambush interview on Wednesday, Garcia – senior vice chairperson of the House committee on appropriations – said that there are no complications should the House continue with its session on Monday despite the calendar for the 20th Congress’s first regular session, stating that the session will adjourn by Oct. 11, Saturday.

‘There are no complications because there is a communication from the House to the Senate that we can extend the calendar days of the House to October 13, to approve the budget on the third reading. So that’s okay already,’ Garcia, speaking in Filipino, told reporters at the Batasang Pambansa complex.

‘As far as I know, yes,’ he added, when asked if the Senate had given its concurrence. ‘Because that is allowable up to three days before the adjournment, we can hold session. So that’s within the rules of the House and the Senate, calendar of both Houses.’

Garcia explained that previously, Congress was allowed to conduct sessions even up to the last Friday of the final session week, even if the House usually adjourns by Wednesday.

But after being reminded by reporters that such Fridays – like October 10 – are explicitly included as part of the regular session, Garcia said Majority Leader Ferdinand Alexander Marcos and committee chairperson Nueva Ecija 1st District Rep. Mikaela Angela Suansing made sure that what they will do is within the bounds of the rules.

‘They have made adjustments already. If you remember in the past, usually sessions end on a calendar day on a Wednesday, that’s the last day of the session. But we can hold sessions until Friday because the schedule allows a three-day extension,’ Garcia said.

‘They issued a communication, I believe. And I can double check later to make things clearer [.] Majority Leader Marcos and Chair Mika Suansing made sure that what we will be doing is within the rules,’ he added.

Extended plenary session

Last October 1, the House adopted House Resolution (HR) No. 320, which seeks to extend the plenary session up to October 13, 2025, so that it can approve the proposed P6.793 trillion national budget for 2026 on time.

Under the original schedule of the 20th Congress, the session would take a break on Oct. 4 – which means that the last session day would be October 3, or this coming Friday.

However, last Aug. 12, the House adopted House Concurrent Resolution (HCR) No. 4, which amends the legislative calendar for the 20th Congress’s first regular session – pushing the adjournment of session for the first break to October 11, 2025.

HCR No. 4 was filed by Majority Leader Marcos and Minority Leader Marcelino Libanan.

Marcos, on Aug. 13, confirmed that the House requested this extension, ensuring that the proposed 2026 national budget will be approved on time.

Marcos, in an ambush interview, said that without the extension, they might not be able to transmit the 2026 General Appropriations Bill (GAB) – or the House’s version of the budget as contained in House Bill (HB) No. 4058 – to the Senate if Congress sticks with the original October 4 break.

The Minority head said back that they hope to finish the House’s GAB and send it to the Senate on October 8 or 9.

‘Hopefully, by Oct. 9, 8, we will have finished all that needs to be done, and then we will transmit to the Senate on the last day, before adjournment on the 10th. This is the ideal situation na hindi tayo magkaroon ng problema (if we do not encounter any problem),’ he said. /mr

An estimated 19.9 percent of Filipinos aged 15 years old and above used tobacco products in 2024, slightly lower than the previous 2022 estimate of 20.4 percent, according to a World Health Organization (WHO) global report.

Based on the study released on Monday, more males from the same age range (35.4 percent) were tobacco users compared to females last year, also lower than the previous estimate of 36.2 percent in 2022.

Only around 4.4 percent of women in the same age bracket were reported to be using tobacco products in 2024, compared to the estimated 4.5 percent in 2022.

These percentages translated into an estimated number of 16.299 million tobacco users in the Philippines last year, with around 14.553 million of them men and 1.745 million women.

In 2022, it was noted that there were 16.303 million tobacco users in the country, broken down into 14.600 million men and 1.703 million women.

The WHO study further said that in 2024, an estimated 17.5 percent of Filipinos 15 years old and above were found to be using cigarette products in particular. Of all Filipinos in that age bracket, males and females smoking cigarettes accounted for 31.4 percent and 3.5 percent, respectively.

The figures also pointed to a small decline in cigarette use, as 2022 estimates showed that 18.9 percent of Filipinos from the same age range were smoking cigarettes. Of all Filipinos in that age bracket, men and women using cigarettes accounted for 33.7 percent and 4.1 percent, respectively.

Globally, the number of tobacco users is also decreasing. The WHO pointed out that in 2024, the number of tobacco users worldwide was at 1.2 billion, lower than the 1.38 billion recorded in 2000.

Still deadly

‘The world is smoking less, but the tobacco epidemic is far from over,’ the WHO said in a news release on Monday. ‘Since 2010, the number of people using tobacco has dropped by 120 million – a 27-percent drop in relative terms.’

‘Yet, tobacco still hooks one in five adults worldwide, fueling millions of preventable deaths every year,’ it added.

According to the WHO, tobacco use accounts for 25 percent of all deaths due to cancer worldwide. It is the primary cause of lung cancer, with smokers up to 22 times more likely to develop the disease than nonsmokers in their lifetime.

Those who smoke also have a higher risk of developing diabetes, respiratory tract infections and periodontal disease, which affects the gums and destroys the jawbone, leading to tooth loss. They are more likely to experience gastrointestinal disorders such as stomach ulcers and inflammatory bowel disease.

When it comes to the Philippines, the study noted that the country is ‘likely to achieve a decrease in prevalence’ of tobacco use, with the expected relative reduction from 2010 to 2025 estimated at 29 percent.

Residents of Mobo town in Masbate are still in need of aid after Typhoon Opong (international name: Bualoi) struck the province last week.

In a phone interview on Tuesday, Mayor Raymund Doni Salvacion said around 98 percent of the town’s 50,000 residents across 29 barangays were severely affected, with many losing their homes.

‘We are in the recovery stage, but we are in dire need of construction materials, particularly GI sheets, to rebuild their homes,’ Salvacion said.

He added that most residents are currently staying in tents serving as temporary shelters.

‘Power has not yet been restored in the municipality, and rechargeable or solar lamps would be a great help for affected residents,’ he said.

He said relief operations continue, but local officials say more assistance is needed, particularly for rebuilding efforts

The Independent Commission for Infrastructure (ICI) has asked the Department of Justice (DOJ) to issue an immigration lookout bulletin order (ILBO) against former House Speaker Martin Romualdez, Sens. Francis ‘Chiz’ Escudero, Jinggoy Estrada, and Joel Villanueva, ex-Sens. Bong Revilla and Nancy Binay, and several others.

Villanueva was not included in the first copy of the ICI’s ILBO request to the DOJ, but after an hour, the commission clarified that the senator was actually also covered.

Then, it sent an updated copy of the request order to the DOJ.

Aside from Romualdez, Escudero, Estrada, Villanueva, Revilla, and Binay, the following are also to be subject to the ILBO:

Commissioner Mario G. Lipana

Marilou Laurio-Lipana

Undersecretary Trygve L. Olaivar

Carlene Villa

Maynard Ngu

Rep. Roman Romulo

Rep. James ‘Jojo’ Ang

Rep. Patrick Michael ‘PM’ Vargas

Rep. Juan Carlos ‘Arjo’ Atayde

Rep. Nicanor ‘Nikki’ Briones

Rep. Marcelino ‘Marcy’ Teodoro

Rep. Florida ‘Rida’ Robes

Rep. Eleandro Jesus Madrona

Rep. Benjamin ‘Benjie’ Agarao

former Rep. Florencio Gabriel ‘Bem’ Noel

Rep. Leody ‘Ode’ Tarriela

Rep. Reynante ‘Reynan’ Arogancia

former Rep. Marvin Rillo

Rep. Teodorico ‘Teodoro’ Haresco, Jr.

Rep. Antonieta Eudela

Rep. Dean Assistio

Rep. Marivic Co-Pilar

District Engineer Loida Busa

Bogs Magalong

District Engineer. Ramon Devanadera

District Engineer Johnny Protesta, Jr.

District Engineer Arturo Gonzales Jr.

The request, dated October 8 and addressed to Justice Secretary Crispin Remulla, was signed by ICI chair Andres Reyes.

‘An initial investigation, with the cooperation of relevant coordinating agencies, on DPWH officials and key officers of certain construction companies, allegedly involved in ghost projects and/or substandard implementations of flood control projects, which is a matter under inquiry by the Commission, puts the subjects in a relevant position that operates to make him an inevitable personality during the fact-finding process,’ Reyes said in the letter.

The ICI chair likewise said the ILBO is necessary ‘to enable the Commission to proceed without delay and to hold those liable accountable to the Filipino people.’

Aside from the request for the issuance of the ILBO against these personalities, the ICI likewise asked that ‘the Bureau of Immigration be instructed to immediately inform the Commission and other law enforcement agencies of any information regarding the impending travel of the subjects.’

The ICI is currently conducting a series of hearings on its ongoing investigation into the alleged multibillion-peso anomalous flood control irregularities across the country. /apl