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Imposing rice import bans may result in a ‘dual setback’ if it is proven that traders and wholesalers are also involved in importing the staple, an official of the Philippine Competition Commission (PCC) said Monday.

PCC Director Carlos Juan Paolo Vega said the import freeze could pose an uptick in retail rice prices while farmers might remain at the mercy of those holding power over rice supply.

He explained that the effect of Executive Order 93, which banned the entry of imported rice for 60 days, would depend on whether intermediate agents like wholesalers, millers, and traders have any incentive to offer a higher buying price to farmers.

‘If these intermediate agents possess some degree of buyer power, farmers and palay aggregators may still face unfavorable prices,’ Vega said during a hearing of the Committee on Agriculture and Food.

‘What we might have then is a situation where we end up with a dual setback, where both consumers and farmers do not benefit,’ he added.

Thus, those in the middle of the value chain would reap most of the policy’s gains, he said.

‘Consumers might eventually bear the brunt of higher prices without the farmers necessarily benefiting from them.’

With this, Vega then called on the government to verify the extent of vertical integration among importers and determine whether the companies involved in the rice trade are independent of each other.

‘So, are the importers also the ones involved in the wholesale trade, or are they also the main ones buying palay from the farmers? [.] Even though they appear to be different companies, are they in essence controlled by just a few entities?’

‘We believe that understanding the real structure of this market can shed more light on the issues,’ he said.

However, the PCC director noted that the impact of the import ban might not yet reflect in the market due to the delay in the transmission of farmgate price data, which the government should take into account.

‘We strongly believe that this policy should consider both effects downstream, alongside benefits to the farmers, and as well the degree of effective competition among middlemen and the importers,’ Vega said.

The import suspension, which began on September 1, was initially imposed to help farmers recover from falling palay prices triggered by a surge in cheaper imported rice.

In the same hearing, Agriculture Secretary Francisco Tiu Laurel Jr. confirmed that the government will extend the rice import ban until the end of 2025. ###

STABLE leasing from traditional and Information Technology and Business Process Management (IT-BPM) occupiers buoyed the office market in the third quarter of 2025, amid a corruption scandal hounding senior government officials, Leechiu Property Consultants (LPC) said.

From January to September, total office demand reached 966,000 square meters (sq m), equivalent to 88 percent of last year’s full-year peak of 1.1 million sq m. LPC said the figure indicated a sustained business activity despite political headwinds.

According to LPC associate director Ed Gador, the controversy has underscored long-standing concerns about governance but has not derailed market confidence.

‘Actually, it’s a spotlight now more than ever that the corruption that’s been plaguing the government, and we believe that there’s more accountability,’ Gador said in a market briefing held Monday in Makati City.

‘We expect that there will be much improvement and more accountability moving forward,’ he added.

Firms have also remained active in selecting spaces, LPC commercial leasing senior manager Erika Manasan said, with many prioritizing master-planned townships that offer flood protection and power reliability, particularly in flood-prone provinces.

‘They’re more keen to look for master planned townships,’ she said. ‘These townships are usually protected by flood.and they have their internal ways to control flood and, of course, power reliability.’

In Metro Manila, Quezon City’s Vertis, Centris, Araneta and Bridgetowne have drawn increased interest from occupiers this year, she said.

Similar demand has been recorded in Davao, Cebu, and Toledo in Cebu, where township developments are expanding.

Vacancy

Meanwhile, total vacant space in the third quarter rose to 193,000 square meters, up 4 percent from 186,000 sqm in the previous quarter.

Vacancies were led by traditional offices (117,000 sq m), followed by IT-BPM firms (60,000 sq m), Philippine Inland Gaming Operator (PIGO) (15,000 sq m) and Philippine Offshore Gaming Operator (POGO) (1,000 sq m).

Manasan told BusinessMirror contractions among PIGO firms mirrored the space withdrawals previously recorded from POGOs.

‘PIGO contracted space, almost the same number as the POGO contractions last quarter,’ she said on the sidelines of the event.

‘That just goes to show how the industry of PIGO is not that stable yet.Until such time that we see them provide solid numbers on their demand.we can’t call them yet as a mature industry.’

From January to September, total vacated space reached 647,000 sq m.

Among IT-BPM firms, 52 percent of vacated spaces were due to relocation, 24 percent to consolidation and 24 percent to downsizing. Traditional firms cited relocation (82 percent) as the primary reason for movement.

In the third quarter alone, 253,000 sq m of new demand offset the space turnover, resulting in a net demand of 60,000 sq m.

Metro Manila posted an 18-percent vacancy rate, while provincial markets shared the same vacancy level. Of the total demand, 78 percent came from Metro Manila and 22 percent from provincial areas.

By segment, traditional firms accounted for 46 percent of total demand, followed by IT-BPM firms (45 percent), government agencies (5 percent) and PIGO (4 percent).

Developers, Gador added, are expected to continue delivering ‘best-in-class projects and facilities’ to sustain leasing momentum amid a changing political and economic climate.

THE number of affected families in the 6.9 offshore northern Cebu earthquake has reached 155,094 or 547,394 people as of Monday, the National Disaster Risk Reduction and Management Council (NDRRMC) reported.

The earthquake affected 205 barangay in Cebu’s 16 cities and towns, the NDRRMC said in its Situation Report on the effects of the Cebu earthquake released Monday morning.

The Philippine Institute of Volcanology and Seismology (Phivolcs) said it has identified the Bogo Bay Fault from which the strong earthquake originated, and recommended a five-meter zone of avoidance from the trace of the fault or edge of the deformation zone.

Phivolcs said a total of 7,092 aftershocks occurred as of 10 a.m. Monday, of which 31 was strongly felt.

The killer quake, which generated an Intensity VII earth-shaking event, was a first in northern Cebu.

So far, 72 people have been reported killed and 559 others injured, mostly in Bogo City, which is nearest to the earthquake’s epicenter.

The NDRRMC said 35,925 houses and government infrastructures were damaged. These include government facilities, bridges, cultural heritage, health facilities, schools, utility services facilities, roads, and flood control structures.

The NDRRMC said eight road sections and 16 bridge sections were damaged, while operation of three seaports was affected.

The NDRRMC said electricity in 43 cities and towns affected have been restored.

A total of P93.5 million in assistance has been provided to affected communities so far.

Tent cities

PRESIDENT Marcos Jr. said evacuation ‘tent cities’ are now being set up in Cebu to shelter residents displaced by the 6.9 magnitude earthquake that struck the province on Sept. 30, ‘with the help of Dick Gordon and the Red Cross. They’ve been very, very, very helpful,’ Marcos said in Episode 5 of his ‘Bagong Pilipinas Podcast,’ released Monday.

The President earlier ordered the immediate establishment of temporary shelters to house families whose homes were destroyed or deemed unsafe due to quake damage.

The national government has allotted P375 million for response and relief operations in Cebu, with PHP150 million coursed through the Local Government Support Fund and P75 million earmarked for Bogo City, one of the hardest-hit areas.

As of the latest reports, 72 people were confirmed dead, while around 450,000 individuals have been affected, prompting government and humanitarian agencies to provide food packs, potable water, medical services, and shelter assistance.

Marcos stressed the importance of swift and sustained disaster response, saying aid must continue until communities are stabilized.

‘In government, the best that we can do is really to be prepared, as prepared as we can possibly be, and move very, very quickly,’ he said.

The Chief Executive said his approach is guided by the plight of families and children in calamity areas.

‘You cannot wait. Don’t do it later, do it now, do it now, do it now,’ Marcos emphasized.

He also cautioned against letting public attention fade once media coverage subsides, stressing that communities continue to suffer long after the headlines move on.

‘The challenge with almost all disasters, especially globally, is that the moment they get shunted out of the headlines or the news, what’s happening there, and that there are people still suffering, still trying to recover. That’s why I made it very clear when I went to both Masbate and Cebu. I said this is not a one-time thing. We’re here. We’re going to stay here until everyone is more or less in a stable condition,’ Marcos said.

Policemen help in shelter operations

POLICEMENT in Cebu have started assisting in the ongoing shelter operations for families displaced by the recent magnitude 6.9 earthquake in the province.

The National Police (PNP) acting Chief, Lt. Gen. Jose Melencio Nartatez Jr., said in a briefing on Monday that officers from the Cebu Police Provincial Office (CPPO) took part in a pre-installation demonstration led by the Philippine Red Cross on the setup of tents at the ‘Tent City’ in Bogo City on Sunday.

The activity was conducted to enhance coordination between the police and humanitarian workers and to ensure the safe, organized, and efficient installation of temporary shelters for residents displaced by the recent earthquake.

‘Our police personnel are working hand in hand with humanitarian partners to ensure that families affected by the earthquake are accommodated in safe and dignified conditions,’ Nartatez said.

As part of the NDRRMC response framework, the PNP continues to provide manpower, mobility, and security assistance to local government units and humanitarian agencies in areas affected by the powerful earthquake that struck northern Cebu on Sept. 30, claiming at least 72 lives and displacing hundreds of families.

The PNP has also deployed additional personnel to assist in traffic management, security in evacuation sites, and the transport of relief supplies. Police visibility and patrol operations have been intensified in affected communities to deter opportunistic crimes and maintain public confidence amid ongoing aftershocks.

Nartatez commended police personnel for contributing in the ‘gradual restoration of normalcy’ in the province as he assured continuous coordination for smooth response to the affected residents.

‘We are coordinating with the local government units, particularly the Provincial Government of Cebu, to map out ways to facilitate and expedite the distribution of assistance down to the farthest affected barangays,’ said Nartatez.

Zero focused crimes

NARTATEZ said no focused crimes recorded in Cebu province from October 1 to 5 following the earthquake.

Focus crimes include murder, homicide, physical injury, rape, robbery, theft and carjacking.

‘In fact one commendable thing is nandoon na rin sa mga kababayan natin na ang talagang mga Pilipino mga peace-loving lalung-lalo na sa Cebu [Filipinos are peace-loving, especially Cebuanos].zero recorded crimes,’ Nartatez told reporters in a press briefing held at Camp Crame on Monday.

Nartatez assured that the peace and order situation in northern Cebu remains generally peaceful and under control, with no reported incidents of looting or disorder.

Air Force on relief missions

TRANSPORT aircraft and personnel from the Air Force (PAF)’s Tactical Operations Wing Central showed their mettle as they conducted humanitarian assistance and disaster response (HADR) missions over the weekend for quake-affected communities in Northern Cebu.

PAF aircraft staged out from Brigadier General Benito N. Ebuen Air Base (BGBNEAB_), Lapu-Lapu City, Cebu, the Air Force spokesperson, Col. Ma. Christina Basco, said.

‘The mission involved the air transport of essential relief goods from Cotabato City to BGBNEAB using Fokker and NC212i aircraft, providing immediate aid to residents affected by the recent earthquake in Bogo City, Cebu,’ she added.

An S-70i ‘Black Hawk’ helicopter was also deployed to deliver family food packs and boxes of drinking water from the Provincial Government of Cebu, which were loaded at BGBNEAB and airlifted to Carnaza Island.

The operation was successfully executed through the combined efforts of PAF personnel and Reserve Officers’ Training Corps cadets from the Philippine State College of Aeronautics who assisted in the loading of relief goods.

‘This humanitarian mission highlights the Armed Forces’ steadfast commitment to supporting national and local government disaster response initiatives, ensuring that timely assistance reaches communities in need,’ Basco said.

Customs donates goods

THE Bureau of Customs (BOC) on Monday turned over abandoned and forfeited goods to the Office of Civil Defense (OCD) to be donated to the victims of the deadly Sept. 30 earthquake in Cebu.

In a statement, Customs Commissioner Ariel Nepomuceno said the OCD will handle the distribution of the donated items to the affected families, ensuring their fast delivery.

‘In moments like this, every donation can make a difference for our countrymen who have lost their homes and security,’ Nepomuceno said.

A send-off ceremony was held Monday morning at the Villamor Air Base in Pasay City.

The donation, which came mostly from the Manila International Container Port (MICP), included 56 pieces of rapid emergency tents and 1,087 pieces of assorted tents to serve as temporary shelters, 50 units of mobile power supply to provide electricity in affected areas, and one bio-toilet unit to ensure proper sanitation for displaced residents.

Nepomuceno said the donated items were declared abandoned and subsequently forfeited in favor of the government.

Aside from the forfeited items, the BOC also donated over 100 sacks of rice to support food assistance efforts in the earthquake-affected areas.

Nepomuceno, who previously served as undersecretary of the Department of National Defense and administrator of the OCD, said the partnership highlights the coordination of government agencies to maximize resources and deliver timely support during emergencies.

For his part, MICP District Collector Rizalino Jose Torralba expressed his full support for the initiative, reaffirming the port’s commitment to utilizing abandoned and forfeited goods for the benefit of the public.

‘The Manila International Container Port stands in full support of the BOC’s thrust to transform abandoned goods into opportunities for service. Through this donation, we hope to extend help and bring comfort to our fellow Filipinos in Cebu who are recovering from this calamity,’ he said.

The Bangsamoro Ministry of Agriculture, Fisheries, and Agrarian Reform (Mafar) began distributing one million kilos of seaweed seedlings across the province of Sulu to boost coastal livelihoods and reinforce the aquaculture sector, the Sulu office of Mafar said.

This happened despite the ongoing transition of governance of the province back to Region 9, and after Sulu fisherfolk families were given training on conservation of aquatic and marine resources of this archipelagic province.

The Mafar-Sulu office started distributing the seaweed seedlings on Sept. 29-30 in Talipao with 50,000 kilos distributed, followed by 70,000 kilos in Hadji Panglima Tahil, 50,000 kilos in Indanan, and 70,000 kilos in Kalingalan Caluang on October 3.

Similar distribution will be happening in other Bangsamoro island provinces of Basilan and Tawi-Tawi as the Bangsamoro government attempts to strengthen its seaweed industry. Sulu is part of the Basulta subregion composed of Basilan, Sulu and Tawi-Tawi.

Mafar said seaweed farmers in Sulu has appealed for continued government support to sustain their livelihoods after the seedling distribution.

MAFAR-Sulu Officer-in-Charge for Fisheries Ferdausia Abduhasad said the success of the program depended on responsible farming practices, urging beneficiaries to keep their seaweed farms organic to safeguard marine ecosystems and sustain long-term production.

‘We want to make sure that beneficiaries do not use fertilizers and instead practice organic management of their seaweed farms,’ Abduhasad said, adding that the expansion of seaweed production ‘not only secures steady income for coastal households but also promotes the long-term sustainability of the fisheries sector.’

Only a week prior to the seedling distribution, the fisherfolk communities from among the Sama-Bajau tribe attended a Mafar-sponsored fishery resources awareness campaign on September 24, to focus on sustainable and legal fishing practices.

‘We chose the Sama-Bajau here in Jolo to participate because most of them are fishermen, and we want to help guide them toward sustainable and legal fishing practices,’ Abduhasad said.

That week, Mafar celebrated the Sixth Fish Conservation (FishCon) Week that was observed nationwide, which centered on the importance of conserving fish and aquatic resources. This year’s celebration carries the theme ‘Pangisdaang Masagana, Sapat na Isda sa Bawat Pamilya.’

THE Department of Labor and Employment (DOLE) in Central Visayas has ordered a Cebu-based business process outsourcing (BPO) company to stop operations after labor inspectors found multiple safety lapses that exposed workers to imminent danger.

The move comes several days after a BPO workers’ group decried alleged occupational safety violations in Cebu during a magnitude 6.9 earthquake last week.

The workers submitted to DOLE a list of companies that reportedly failed to follow emergency protocols and sought a formal dialogue with the agency to address their concerns.

In a statement, DOLE Region VII said they found that one BPO firm had no emergency and disaster preparedness and response plan as required under Section 14 of Department Order (DO) No. 252, Series of 2025.

Its hazard identification, Risk Assessment, and Control (HIRAC) also failed to include risks related to natural calamities such as earthquakes.

Inspectors noted inconsistencies in the composition and operation of the company’s safety and health committee, as well as the absence of a construction safety and health program for ongoing fit-out works in one of the floors it occupies.

‘The noted deficiencies taken together are indicative of the respondent’s laxity in implementing safety and health rules within the worksite which clearly exposed the workers to imminent danger,’ DOLE VII said.

The company was ordered to cease and desist operations until all unsafe conditions and violations have been corrected.

It was also told to submit proof of compliance to DOLE before reopening.

Failure to comply could lead to daily penalties of up to P100,000, as provided under Section 42 of DO 252, until the violations are rectified.

The regional office also reminded employers that under Section 38 of the same order, if a work stoppage results from the employer’s fault, workers must still be paid their wages during the suspension of operations.

DOLE VII also urged the building administrator where the company operates to secure clearance from authorities certifying the facility’s safety.

The agency also warned employers and building administrators that this is just the ‘initial shot.’

‘More and more vigorous inspections will happen onward,’ it added.

‘A problem within BPO itself’

Meanwhile, while the BPO Industry Employees Network (BIEN)-Cebu acknowledged DOLE’s issuance of a work stoppage order, the group said the problem runs deeper than individual violations.

‘More than just identifying companies involved in potential occupational safety and health (OSH) violations, we assert that it is not just a matter of a few bad apples but a problem within the BPO industry itself,’ BIEN-Cebu Spokesperson Kyle Enero said.

Enero said this development was made possible through collective worker action, noting that employees have become more vocal about safety and welfare concerns.

‘BPO workers uniting to assert their rights and welfare is what made this possible. We urge fellow BPO employees to continue speaking up and organize themselves to forward their interests both in and out of workplaces,’ he added.

He said game-changing reforms remain necessary to address long-standing issues in the sector such as livable wages, job security, non-discrimination, and safe working environments.

For the Inter-Call Center Association of Workers (ICCAW), the recent earthquake underscored the need for all BPO firms to establish active safety committees with worker representatives.

‘Workers must have voice and participation in the workplace, especially with regard to safety and health concerns,’ ICCAW Gilbert Romo said.

Dialogue over sanction

For his part, DOLE Secretary Bienvenido E. Laguesma said the agency is prioritizing dialogue and due process over immediate sanctions in handling labor complaints against BPO, saying that punitive action must be backed by a strong legal basis.

‘We don’t prioritize punishment. We will listen because we live in a free country. If workers have grievances or complaints, we should also hear the side of employers,’ he said in an interview on Monday.

Laguesma noted BPO’s large contribution to the country’s economy, citing the 1.8 to 1.9 million workers comprising the sector nationwide.

The figures, he added, benefits several programs of the labor department.

Last year, the BPO industry generated about $38 billion in revenue, a 7-percent growth from the previous year.

‘We also benefit from that. That’s why we need to be cautious and not act rashly in our decisions.’

The situation calls for a strong legal basis of punishment, as sanctions may being either benefit or harm, said Laguesma.

‘That’s why I encourage voluntary compliance. Employers are supposed to be our social partners,’ he said. ‘Everyone is given the chance to comply-they just need to meet the requirements of the law and DOLE issuances.’

The labor department has also began profiling affected workers two days after the earthquake, along with the implementation of temporary emergency and temporary employment assistance, Laguesma said.

He added that the period would last between 10 to 90 days, depending on the gravity of the recent disaster.

More than 700 agrarian reform beneficiaries (ARBs) from Davao Oriental are now debt-free after the Department of Agrarian Reform (DAR) in the Davao Region distributed Certificates of Condonation with Release of Mortgage (COCROMs).

DAR awarded 1,001 COCROMs to 721 ARBs, effectively condoning P9.93 million in amortization and interests pursuant to Republic Act No. 11953, which provides significant financial relief and secures the beneficiaries’ ownership of their awarded lands.

Aside from COCROMS, the DAR also distributed and turned over farm machineries and equipment (FMEs) under the ‘Handog ng Pangulo: Serbisyong Sapat Para sa Lahat’ program.

DAR Undersecretary for Policy, Planning and Research Office Lani C. De Leon and Regional Director Joseph H. Orilla, along with local government officials and partner agencies, led the ceremonial turn-over of the condonation certificates and package of support to the farmers during a simple ceremony held recently.

‘This milestone is more than just debt relief. It empowers our farmers by granting them land security and equipping them with the tools to improve productivity and transform their lives,’ Orilla said in a statement.

In addition to the debt relief certificates, DAR turned over a mobile corn mill and a corn sheller worth P1.29 million to the Talisay CARP Beneficiaries and Farmers Water Service Cooperative under the Climate Resilient Farm Productivity Support Project. The FMEs aim to boost crop production and raise farmers’ incomes.

The activity highlights the government’s commitment to supporting ARBs not only through land distribution but also through sustained support services to ensure their productivity and livelihood improvement, the DAR said.

THE flood-control mess could threaten the country’s growth given its potential to slow down government spending, according to Nomura.

In a separate development, however, President Ferdinand Marcos Jr. gave assurances on Monday that public works will still push through next year to keep the country’s economy going, despite the ongoing government crackdown on anomalous flood control projects.

‘It [crackdown] does not mean that we have given up completely on infrastructure because we cannot. We cannot. If we stop that, we will stop the economy basically,’ the chief executive said in the fifth episode of the video blog posted in his social media accounts.

In its latest brief, Nomura said the slowdown in government spending as a result of the floodworks fiasco could prompt the Bangko Sentral ng Pilipinas (BSP) to reduce policy rates to help support the country’s growth.

A reduction in policy rates could provide a much-needed boost to domestic demand, which Nomura said, is expected to encounter ‘significant downside risks’ compared to August 2025.

‘The ongoing controversy around flood-control projects will likely be assessed by BSP as potentially leading to a slowdown in government capex disbursements, therefore posing downside risks to the GDP growth outlook at a time when BSP still sees the output gap as negative,’ Nomura said.

Nonetheless, Nomura has assigned a 60-percent likelihood for a reduction in policy rates and a 40-percent chance that the Monetary Board will leave policy rates unchanged.

‘[This takes] into account BSP’s previous ‘goldilocks’ signal and the possibility that BSP could adopt a wait-and-see approach to assess the downside risks to growth, citing elevated uncertainty,’ Nomura said.

Meanwhile, Department of Economy Planning and Development (DepDev) Secretary Arsenio M. Balisacan told reporters on Monday that government’s contribution to economic growth was only 15 percent.

‘Government spending contributes only about 15 percent or so on the economy. But what is so critical, however, is the enabling environment that government influences, and influences in terms of how the private sector economy works. And so that’s what we are even more concerned about,’ Balisacan said.

‘Since the start of this administration, I’ve been pushing for reforms that improve, enhance the enabling environment, particularly our efforts to bring up digitalization, improving the framework for the PPP code,’ he added.

This means, the country’s GDP is more dependent on the private sector for growth. Department of Budget and Management Assistant Secretary Romeo Matthew T. Balanquit noted that the growth of government construction in the first semester and second quarter contracted to 4.6 percent and 8.2 percent, respectively.

Despite this, Balanquit said, private construction helped buoy the economy’s performance. Data from the Philippine Statistics Authority (PSA) said private construction posted double-digit growth of 15.2 percent in the first semester and 16.3 percent in the second quarter this year.

Balanquit also explained that the flood control controversy may not lead to a slowdown in government consumption, given the need to finance many development projects.

He noted that with the freeing up of some resources for infrastructure in connected with the reduction of the budget of the Department of Public Works and Highways (DPWH), these funds will not disappear and will just be re-aligned to other projects.

‘We are on the tight belt now. And so the worry of underspending is not really there. We still have accounts payable, meaning those projects that were already finished in the previous year, and we have to pay them,’ Balanquit said.

‘And we have, meaning we will never really lose any reasons for where to spend our money, because we have many, many things to fund in the end,’ he added.

Further, Balisacan said growth in the first semester of the year has been weak, not because of external headwinds rather than weakness of the domestic economy.

Balisacan noted that the World Bank and the International Monetary Fund as well as other major organizations have all reduced their global growth outlook.

‘If you look at the last couple of years, it is the trade deficit that is impacting on our growth, not so much the domestic performance of our sectors,’ Balisacan said.

‘Having said that, there are positive forces that we are seeing in the economy. Over the last several months, we have seen inflation coming down, and that is likely to continue,’ he added.

Public works to continue-PBBM

Meanwhile, the President made the assurance about continuing public works after he ordered the cancellation of P255 billion worth of new locally funded flood control projects of the Department of Public Works and Highways (DPWH) next year as the agency undergoes a major reorganization.

Of the said amount, he said P26 billion will be allocated to the Department of Education for the construction of new classrooms.

The reorganization is part of the ongoing initiative of the Marcos administration to weed out corrupt practices within the agency.

Marcos created the Independent Commission for Infrastructure to look into substandard and non-existent flood control projects and other public works and then recommend the filing of charges against erring contractors as well as government officials and personnel.

He said even officials and personnel, who have resigned their post in relation to the flood control project mess, will be held accountable.

The President raised the issue during his fourth State of the Nation Address in July to eliminate corrupt practices in the government since it is stifling the country’s economic growth and negatively affecting the lives of Filipinos.

‘There is a great deal of damage that has been caused-not only financial damage or economic damage-but damage to-actual damage to people’s lives,’ Marcos said.

‘The economy will never grow properly. People are not going to get helped. The schools will not get better. The hospitals will not get better. We will not get anywhere,’ he added.

The average price of power on the Wholesale Electricity Spot Market (WESM) declined 33.8 percent to P3.04 per kilowatt hour (kWh) in September, the lowest in the last seven months, from P4.59 per kWh the previous month, the Independent Electricity Market Operator of the Philippines (IEMOP) said Monday.

The WESM operator noted an improved supply for the billing period August 26 to September 25 at 20,712 megawatts (MW) against a lower demand which stood at 13,640MW, resulting in an increased margin of 5,194 MW, up from 4,578 MW in August 2025.

IEMOP said these conditions were observed across the regions with supply increasing and demand decreasing. The higher margin compared to the previous billing month led to lower prices.

In Luzon, prices dropped significantly due to lower demand and higher supply, even with increased power exports through the HVDC (high-voltage direct current). The average power rate declined 31.7 percent to P2.57 per kWh, with supply at 14,681MW. Demand stood at 9,595MW.

WESM rates in the Visayas also registered a decline. From P6.4 per kWh, it dropped 37 percent to P4.02 per kWh. Supply inched up to 2,440MW while demand went down four percent to 1,945MW.

In Mindanao, WESM prices settled at P4.19 per kWh, 37 percent lower than the P6.66 per kWh registered from a month ago. The grid’s available supply stood at 3,592MW. Demand grew to 2,100MW.

IEMOP said there were no major plant outages affecting the September billing period, contributing to the overall decrease in prices. *While Visayas experienced an earthquake on September 30 that caused multiple tripping of transmission lines and generators, this will be settled as part of the October 2025 billing period,’ it said on Monday

In terms of system-wide generation mix, renewable energy (RE) contributed 26% of total generation. Coal increased its share from 50.6% to 55.1%. Hydro generation continued its upward trend, rising from 12.6% to 13.5%, due to rainy season that was intensified by typhoon.

Meanwhile, the share of natural gas and oil-based decreased, with natural gas dropping from 22% to 17%, and oil-based generation from 0.9% to 0.5%. Solar and geothermal generation also decreased their share from 4.0% to 3.7% and 7.8% to 7.6%, respectively. Approximately 25 percent, or 2.34 terra wat of total customer transactions were purchased from retail market for this billing period.

During the period, IEMOP said the system-wide reserve market transactions decreased from P5 billion to P4.68 billion.

LOSS of investments and employment, among others, may be the ‘broader impact’ on the Philippine economy if the country’s exports keep underperforming, according to Philippine Exporters Confederation Inc. (Philexport) President Sergio R. Ortiz-Luis Jr.

‘Well, loss of investments, expansions will be held, definitely loss of employment,’ Ortiz-Luis said in a recent televised interview when asked about the impact on the Philippine economy if exports continue to plunge.

With this, he reiterated the need for a ‘more realistic’ budget for the Department of Trade and Industry (DTI) to prop up the country’s outbound shipments.

In particular, the Philexport chief said ,’Maybe double [the budget of DTI] it. What is P10 billion compared to some projects that we are not doing now?’

In a witty retort towards the reallocation of funds from the anomalous flood control projects, Ortiz-Luis said: ‘If we can only get 5 percent of what is lost in the floodwater.that would help a lot the development of exports also of SMEs, which are lagging behind all our Asian neighbors.’

While he could not quantify by how much corruption has held back the export sector in the Philippines, he pointed to the participation rate of exporters in international trade fairs.

‘We have big fairs outside which we couldn’t afford which are supported by our neighbors. In the [China-Asean Expo] CAEXPO recently, you know how many exporters our neighbors sent? More than 200 from Thailand, more than 200 from Malaysia. You know how many we sent? Ten. Although the space will be given to us for free, it’s expensive for exporters to go,’ added Ortiz-Luis.

Apart from the lack of budget for the country’s exports, Ortiz-Luis took note of the changing trend in the trade data released by the Philippine Statistics Authority (PSA) which indicated that growth of exports in August slowed down while exports to the US plummeted, with Hong Kong now being the Philippines’ top export destination.

‘We know that Hong Kong overtook the US last August as the number one export destination,’ which could prove, he said, that ‘we’re trying to shift to other areas but it’s easier than done.’

PSA data showed that in August 2025, or during the month when the 19-percent reciprocal tariff imposed by Washington took effect for the Philippines, exports to the United States contracted 11.2 percent to $1.09 billion from the $1.22 billion recorded in August 2024.

Meanwhile, the Philippines’ shipments bound for Hong Kong soared by 26.4 percent to $1.19 billion in August 2025 from the $942.56 million in August 2024.

For August 2025 alone, this means that Hong Kong is now the Philippines’ top export destination.

The PSA data showed the growth in country’s outbound shipments slowed down in August compared to the previous months or when the tariff imposed by Washington was not yet in place.

PSA data showed that export earnings growth slowed in August as outbound shipments only grew 4.6 percent to $7.06 billion in August from the $6.75 billion in the same period last year.

This, after exports peaked at 26.9 percent in June 2025, then export earnings slowed to 17.6 percent in July and posted single-digit growth in August.

Meanwhile, the manufacturing sector slipped into ‘negative territory’ in September on the back of drops in output and new orders.

Ateneo De Manila University (ADMU) economist Leonardo A. Lanzona, Jr. said, ‘this has to do with the poor performance in exports.’

‘I think this has to do with the poor performance in exports. Manufacturing is significantly linked with exports. Hence, given the global headwinds, particularly with Trump’s unconventional policies, exports are down, bringing down manufacturing as well,’ Lanzona told the BusinessMirror in a Viber message on Wednesday.

For her part, Elizabeth Lee, Chairperson of Federation of Philippine Industries (FPI), told the BusinessMirror in a Viber message recently that while the September dip reflected weaker domestic demand, weather disruptions and rice import restrictions, ‘companies’ continued purchasing activity and upbeat sentiment suggest the downturn is viewed as temporary.’

The brightest young athletes of the Philippines will be celebrated at the 5th Nickel Asia Corporation (NAC) Siklab Youth Sports Awards presented by the Philippine Sports Commission on Saturday at the Grand Ballroom of Diamond Hotel Manila.

This year’s edition shines a spotlight on the Youth Heroes Awardees, led by weightlifters Jay-R Colonia, Alexandra Ann Diaz, Althea Bacaro, Jhodie Peralta, and Albert Ian Delos Santos.

Their stellar performances at the 2025 World Youth and Junior Weightlifting Championships in Lima, Peru earned the Philippines the top spot among 33 nations, with a remarkable haul of 10 gold, 3 silver, and 3 bronze medals.

Joining them are elite junior athletes from various disciplines: Karl Eldrew Yulo (gymnastics), Rianne Malixi (golf), Pi Durden Wangkay (athletics), Dean Darnet Venerable (taekwondo), Tenny Madis (tennis), Kira Ellis (triathlon), and Sam Cantada (volleyball).

Yulo, the younger sibling of the double Olympic gold medalist Carlos Yulo, will be recognized for the fifth consecutive year, underscoring his continued excellence in the sport. The event is also supported by the Philippine Sports Commission, Philippine Olympic Committee, CEL Logistics, MVPSF, Smart/PLDT, Go For Gold, Homegrown, Orich and Blue Hydra.

Seven-year-old jiujitsu prodigy Aielle Aguilar returns for her third straight Siklab honor after dominating her division at the Pan Kids IBJJF Tournament in Orlando, Florida-the world’s largest youth jiujitsu competition.

Also being hailed as Super Kids are Xian Baguhin (boxing) Sophia Catantan (fencing), Kyra Abella (judo), and Joan Denise Lumbao (karate).

Top performers from the 2025 Palarong Pambansa will also be recognized, including swimmer Titus Sia, archer Naina Tagle, chess player Mar Aviel Carredo, dancesport standout Bhenz Rudolf Owen Semilla, and gymnast King Cjay Pernia.

Not to be outdone, the Batang Pinoy Games will be represented by standout athletes such as Albert Jose Amaro II (swimming), Hazel May Risma (athletics), Haylee Garcia (gymnastics), Mariano Matteo Medina IV (archery), and Arvin Naeem Taguinota II (swimming).

A total of 73 awardees will be honored by the PSC-PPC-POC Media Group, with three special distinctions to be conferred: gymnast Carlos Yulo as Sports Idol of the Year, Cynthia Carrion of gymnastics with the Lifetime Achievement Award, and Christian Gonzalez as Godfather of the Year.