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ASIAN refiners are on course to nearly double their purchases of US crude for September from a month earlier, a move that stands to squeeze domestic fuel makers at a time when Americans are already facing record high pump prices.

Exports to Asia should see a notable rise next month, according to ship and commodity tracking companies Kpler, Vortexa and Sparta Commodities. Traders estimate that the total amount of US-to-Asia trades for loading in September is more than 40 million barrels compared with a forecast 22 million barrels in August. The increase comes as prices of competing Middle Eastern grades like Abu Dhabi’s Murban crude have surged, making US supply more competitive.

At least one of the recent purchases was for oil to be loaded on a smaller Aframax tanker capable of taking a quicker route via the Panama Canal and Pacific Ocean, rather than the Atlantic Ocean. That suggests a degree of promptness in Asia’s demand, traders familiar with the recent business said.

As the war in Iran stretches into its sixth month with no deal to reopen the Strait of Hormuz, the Asian buying spree puts strain on US supplies, likely pushing up prices. Domestic refiners are already running near record rates and plan to maximize output into the fall. Higher crude costs tend to filter down into pump prices, and seasonally gas prices are already at a record high. More Asia buying will likely also divert supplies away from Europe.

Asian refiners became a mainstay buyer of US oil after the Iran war disrupted their usual Middle Eastern supplies, but fuel makers in the region backed off on purchases when a memorandum of understanding between the US and Iran saw flows through the strait resume. That surge in US exports to Asia contributed to record amounts of American crude sent overseas earlier this year.

Sour crude grades-similar in quality to Mideast oil supplies-stand to face the biggest squeeze, especially with no additional releases from the US Strategic Petroleum Reserve planned, according to Vortexa Senior Oil Market Analyst Rohit Rathod. ‘For domestic refiners running at high rates, this could mean tighter sour crude availability,’ Rathod said.

Benchmark US sour grade Mars is currently trading at a $2.50-a-barrel premium to benchmark US oil grade West Texas Intermediate, about $2 away from a three-month high, according to data from Syntex Energy. Still, the price is well below the $18 premium refiners were paying in early April as US exports to Asia soared. ‘For US refiners, Mars will be at the epicenter of this tightness,’ said Sparta Oil Market Analyst Nikolas Plonski.

US medium sour crude prices strengthened in early July as releases of similar grades from US reserves began to wind down. Those gains were later erased as prospects grew for a peace agreement to end the war, easing concerns over global supplies. Now with talks deadlocked, the strait still effectively closed and high refinery run rates, the tight US crude market has less supply to spare.

The US exported just over 4 million barrels of crude a day in the week to Aug. 14, up more than a million barrels a day from the prior week but well shy of the nearly 6.5 million barrels a day in late April, according to US government data. ‘The increase in volumes to Asia will likely come at the expense of flows to Europe, rather than resulting from a much stronger pace of exports,’ said Kpler Director of Commodity Research Matt Smith.

Imports of Venezuelan oil have met some US refiners’ demand for sour oil, and those flows are likely to continue, Rathod said.

Even with barrels flowing to US ports from overseas, the return of Asia’s oil buying could limit a seasonal build in America’s crude inventories that typically happens in the fall.

THE House prosecution panel said on Tuesday that testimony and financial records presented during Vice President Sara Z. Duterte’s impeachment trial indicates an apparent effort to spend the Office of the Vice President’s entire P125 million confidential fund allocation within just 11 days before the end of 2022.

Lanao del Sur Rep. Zia-ur Rahman Alonto Adiong, prosecution spokesperson, cited the testimony of hostile witness Lemuel Ortonio, an OVP assistant secretary and assistant chief of staff. Ortonio confirmed that the entire P125 million was reported as disbursed from December 21 to 31, 2022.

‘It appears that there was a deliberate effort to exhaust the P125 million in only 11 days,’ he said.

Ortonio also testified that unused cash allocations expire at the end of the year and that any remaining balance must be returned to the National Treasury.

Adiong said the 11-day spending period becomes more notable when compared with the OVP’s use of confidential funds in 2023.

According to the OVP’s accomplishment reports, the office covered 132 areas in 11 days in 2022. In comparison, it covered 127 areas over 52 days during the first quarter of 2023, 111 areas over 67 days in the second quarter, and 122 areas over 79 days in the third quarter.

‘What is also striking is that they were able to use the entire P125 million in only 11 days,’ Adiong said.

‘What does this suggest? It appears that there was a pattern of spending P125 million every quarter,’ he added.

Adiong said the spending pattern should also be considered alongside Ortonio’s account of how the confidential funds were requested.

Ortonio confirmed that the OVP had no confidential fund allocation when Duterte assumed office in July 2022.

On August 22, Duterte requested P250 million in confidential funds from the Department of Budget and Management. However, the supporting physical and financial plan was prepared and approved only on September 16, after the DBM requested the necessary documents.

The OVP eventually received P125 million in December.

Adiong said the sequence of events raised questions about how the amount was determined and why the entire P125 million was spent before the end of the year.

‘It raises more questions than answers,’ he said.

During the same press briefing, prosecution legal spokesperson and counsel Benjamin Tolosa Jr. separately questioned whether confidential funds were necessary to ensure Duterte’s security during official activities.

Tolosa cited former Vice President Leni Robredo, whose office did not receive confidential funds during her term.

‘She also had no confidential funds, yet no untoward incident occurred,’ Tolosa said.

He added that the senator-judges could consider this comparison when determining whether the use of confidential funds for Duterte’s security was justified.

The prosecution is presenting evidence concerning Duterte’s alleged misuse of P500 million in OVP confidential funds. The amount was released in four tranches of P125 million each from December 2022 through 2023.

Outline

IN addition, Duterte has yet to sufficiently account for the P500 million in confidential funds released to the Office of the Vice President (OVP) in 2022 and 2023, prosecution counsel Mae Divinagracia told the Senate Impeachment Court on Tuesday.

During the 18th day of Duterte’s impeachment trial, Divinagracia outlined alleged irregularities in the request, disbursement and liquidation of the confidential funds. The money was released in four tranches of P125 million from December 2022 through 2023.

Divinagracia alleged that the OVP repeatedly changed its explanations for the funds and failed to provide sufficient details and supporting documents.

‘The explanations keep changing, there are no details or supporting documents, and there appears to be concealment rather than clarification. Until now, the people’s P500 million has not been accounted for,’ she said in Filipino.

According to the prosecution, Duterte requested the first P250 million before submitting the required supporting plan.

Divinagracia claimed that the amount was determined first and the plan was prepared only after the Department of Budget and Management requested it.

She also argued that Duterte’s authority and approval appeared on key documents-from the initial request to the liquidation-and that the reports were prepared to comply with formal requirements rather than reflect the actual use of the funds.

Divinagracia noted that four reports followed the same template and each accounted for exactly P125 million, with no remaining amount returned. She further alleged that when the Commission on Audit questioned medical and food assistance expenses worth P40 million, P42 million and P40 million in the first three accomplishment reports, those entries disappeared from the final report while the total remained exactly P125 million.

The prosecution also claimed that the liquidation documents were submitted late and contained irregular or backdated receipts. Divinagracia said some receipts were submitted 10 months late, while more than 100 were dated approximately one year after the reported payments.

She added that certifications supporting the expenses allegedly contained no amounts, names, locations or dates and were signed by the same person who received the money.

Meanwhile, the Impeachment Court declared Ortonio a hostile witness after determining that his continued employment under Duterte gave him an adverse interest in the proceedings.

Presiding Officer Sen. Francis Escudero issued the ruling after Ortonio confirmed that he reports directly to Duterte, serves at her pleasure and holds a co-terminous position that he would lose if she were removed from office.

The ruling allows Divinagracia to ask Ortonio leading questions during direct examination, although Escudero reminded the prosecution that misleading questions remain prohibited.

Before the ruling, Ortonio admitted that he had declined several invitations to attend a 2024 investigation by the House Committee on Good Government and Public Accountability concerning the OVP’s confidential funds. He also confirmed that he had not sought judicial relief against the invitations.

Ortonio has worked under Duterte in various positions since she served in the Davao City government. He was previously chief of staff of the Office of the Davao City Vice Mayor from 2008 to 2010, chief of staff of the Office of the Davao City Mayor from 2010 to 2013, head of the Davao City Investment Promotion Center from 2016 to 2018 and head of the city’s Human Resource Management Office beginning in 2018. He joined the OVP in July 2022.

A Land Bank of the Philippines witness previously identified Ortonio as the official who accompanied former OVP special disbursing officer Gina Acosta when the confidential funds were withdrawn. Acosta earlier testified that, upon Duterte’s instruction, the funds were turned over to then-Vice Presidential Security and Protection Group commander Col. Raymund Dante Lachica.

Divinagracia questioned Ortonio’s claim that he had no personal knowledge of how the money was spent, noting that his signatures appeared on the OVP’s responses to COA. She also pointed out that Duterte, Acosta and Lachica – whom the prosecution identified as the officials with direct knowledge of the transactions-had not provided complete explanations.

TWO WorldTeams and eight ProTeams have officially confirmed to heat up the 30th edition of Le Tour de Langkawi 2026 (LTdL2026) scheduled September 27 to October 4.

Completing the 20-team line-up for this year’s race are nine Continental teams and the Malaysian National Team which all set to tackle the 1,285.5-km route spanning eight stages.

The two WorldTeams are Kazakhstan’s XDS Astana and Dutch outfit Picnic PostNL while the eight ProTeam entrants are Tudor Pro Cycling Team (Switzerland), Caja Rural-Seguros RGA, Equipo Kern Pharma and Burgos-Burpellet (Spain), TotalEnergies and Unibet Rose Rockets (France), Bardiani CSF-Saber (Italy) and newcomer Modern Adventure Pro Cycling from the United States.

The nine Continental Teams are Terengganu Cycling Team and Malaysia Pro Cycling (Malaysia), Thailand Continental Cycling Team (Thailand), 7-Eleven Cliqq Roadbike Philippines (Philippines), Nusantara Cycling Team (Indonesia), WheelTop Rotor Chengdu Cycling Team (China), Aisan Racing Team (Japan), KSPO (South Korea) and St George Continental Cycling Team (Australia).

In contrast to last year’s 22-team field, two notable omissions from the start list are ProTeam outfits Uno-X Mobility and Polti VisitMalta.

National Sports Council (NSC) Director-General, Jefri Ngadirin said that while the total number of teams has been reduced compared to last year’s edition, it remains fully compliant with the ProSeries race quota set by UCI.

‘The primary reason for reducing the team quota is part of cost-saving measures implemented across all government ministries, departments and agencies in light of current national economic and global geopolitical uncertainties,’ Ngadirin said.

‘LTdL achieved these savings through two key areas-reducing appearance fees and travel allowances for WorldTeams,’ said Jefri during the official team lineup announcement at MSN, Bukit Jalil, recently. ‘We declined requests from teams such as EF Education and Uno-X, as Astana and Picnic PostNL had confirmed their entries earlier.’

Stages on Langkawi Island were omitted from this year’s route as part of logistics cost-containment measures, which typically incur high operational expenditure.

Nevertheless, with a lineup featuring two WorldTeams and eight ProTeams, LTdL26 is expected to maintain a high level of competition, fierce, thrilling and unpredictable – especially with three formidable mountain stages at Gunung Jerai, Cameron Highlands and Genting Highlands.

‘Astana, Picnic and Tudor regularly feature in cycling’s three Grand Tours which is the Tour de France, Giro d’Italia and Vuelta a Espana,’ Ngadirin said. ‘TotalEnergies and Caja Rural also race the Tour de France, Bardiani and Unibet compete in the Giro while Kern Pharma and Burgos feature in the Vuelta.’

‘Therefore, the teams confirmed for this edition are formidable contenders in top-tier global cycling and I am confident they will field strong rider combinations to secure victory,’ he added.

Newcomer Modern Adventure Pro Cycling is a newly formed team this year but the South Carolina-based setup is guided by world cycling legend George Hincapie, a former lead domestique for Lance Armstrong, Alberto Contador and Cadel Evans, alongside former Tour de France and Giro stage winner Bobby Julich.

Ngadirin added that MSN, as the main organiser, eagerly awaits the final rider rosters to be submitted by respective teams, given that this year’s route profile is regarded as one of the most gruelling in the race’s history since its inception in 1996.

‘Some teams have submitted initial rider lists, but we expect them to make a last-minute revisions and field their strongest lineups,’ he said. ‘Achieving top results means securing crucial UCI ranking points, especially in these end season races.’

LTdL2026 will flag off from Shah Alam on September 27 and conclude in Putrajaya on October 4, covering a total distance of 1,285.5 km across eight stages.

Classified as a 2.ProSeries event on the UCI Asia Tour calendar, the race is co-organised by the Ministry of Youth and Sports (KBS) through MSN in collaboration with the Malaysian National Cycling Federation.

LTdL 2026 – TEAMS

UCI WORLDTEAMS

XDS Astana (Kazakhstan)

Picnic PostNL Netherlands)

UCI PROTEAMS

Tudor Pro Cycling Team (Switzerland)

Caja Rural-Seguros RGA (Spain)

Equipo Kern Pharma (Spain)

Burgos-Burpellet (Spain)

TotalEnergies (France)

Unibet Rose Rockets (France)

Bardiani CSF-Saber (Italy)

Modern Adventure Pro Cycling (USA)

UCI CONTINENTAL

Terengganu Cycling Team (Malaysia)

Malaysia Pro Cycling (Malaysia)

Thailand Continental Cycling Team (Thailand)

7-Eleven Cliqq Roadbike Philippines (Philippines)

Nusantara Cycling Team (Indonesia)

WheelToprotor Chengdu Cycling Team (China)

Aisan Racing Team (Japan)

KSPO (South Korea)

St George Continental Cycling Team (Australia).

NATIONAL TEAM

Malaysia National Team

AMID concerns that the country’s poverty measure no longer reflects current economic realities, the government is nearing completion of its review of the methodology used to determine who is considered poor.

Department of Economy, Planning, and Development (DepDev) Arsenio M. Balisacan on Tuesday said the review of the poverty metric is ‘almost’ complete, but stressed that the current methodology should remain in place for now to ensure consistency in measuring the Marcos administration’s progress toward its single-digit poverty target under the Philippine Development Plan (PDP) 2023-2028.

Last week, the Philippine Statistics Authority (PSA) reported that poverty incidence fell to a record-low 9.7 percent in 2025, equivalent to 11.08 million Filipinos. This was down sharply from 15.5 percent in 2023 and 18.1 percent in 2021.

The decline, however, has also renewed questions over whether the country’s poverty measure remains appropriate for current living standards and economic conditions. ‘Part of the controversy or the claim is that that metric is now low, and we agree that that deserves a review,’ Balisacan said.

Under the latest PSA data, an individual is considered poor if their monthly income falls below the per capita poverty threshold of P2,927, or P35,121 annually. For a family of five, the poverty threshold is P14,634 per month.

The latest thresholds were 5.5 percent higher than the P2,775 monthly per capita threshold and the P13,873 monthly threshold for a family of five in 2023.

Balisacan, however, said the current metric should be retained for the remainder of the administration’s term so its poverty-reduction gains can be measured against the same baseline.

He explained that the government needs to use a ‘consistent ruler’ to determine whether its programs, policies, and strategies are delivering the intended results.

‘I think that it’s proper that we use the same metric throughout, and then maybe in the next government, they can set their own metric standard to measure their progress. In the meantime, we are preparing for an update of the thresholds,’ Balisacan said.

The same principle applies to calls for the Philippines to adopt a higher poverty threshold following its transition to upper-middle-income country status, an issue earlier reported by this newspaper. Balisacan acknowledged that the country’s current poverty threshold is ‘slightly below’ what would be expected given its current per-capita income or gross national income per capita, and said an adjustment is warranted.

‘Maybe in the next administration, that is recommended. I think that’s usually the practice in many countries,’ he said.

The World Bank’s international poverty lines are currently set at $4.20 per person per day for lower-middle-income economies and $8.30 for upper-middle-income economies, both in 2021 purchasing power parity terms.

At around P97 per person per day, the Philippines’s national poverty threshold is closer to the lower-middle-income benchmark.

Philippine Airlines (PAL) will now be measured against a set of service-level targets at the country’s main gateway, after signing an Airport Use Agreement (AUA) with New Naia Infra Corp. (NNIC) that makes the flag carrier’s operational performance a contractual obligation rather than a matter of practice.

The agreement-the first standardized deal of its kind between NNIC and an airline since the private consortium took over the Ninoy Aquino International Airport (Naia)-embeds key performance indicators (KPIs) covering the airline’s use of terminal facilities and infrastructure, and spells out the respective responsibilities of carrier and airport operator.

It also carries mechanisms for addressing persistent failure to meet the agreed standards.

Those benchmarks are calibrated to the service levels NNIC itself must deliver under its concession agreement with the government, effectively pushing the operator’s own obligations down the chain to the airlines that account for the bulk of traffic at the gateway.

NNIC said it intends to use the PAL agreement as the template for similar arrangements with other carriers at NAIA, a move that would extend a uniform performance regime across the airport’s airline tenants.

‘This agreement gives us a clearer framework for setting expectations, measuring performance and working together to maintain consistent service standards,’ NNIC President and CEO Ramon S. Ang said. ‘That is important to making airport operations more efficient and dependable.’

Lucio Tan III, president and COO of PAL Holdings Inc., the listed parent of the flag carrier, said the arrangement works in favor of both parties and, ultimately, the traveling public.

‘This is a positive development for both PAL and NNIC, and ultimately for our passengers. It supports the continuing modernization of NAIA and our collective goal of delivering a better airport experience.’

The framework targets a structural weakness in airport operations: a single flight depends on several organizations performing their roles on time and in sequence, with no single party holding the others to account.

Delays in check-in, boarding, baggage handling, ramp operations or aircraft turnaround do not stay contained. They cascade into succeeding flights and, at a facility operating near capacity, into the wider airport operation.

By establishing common performance requirements and clearer lines of accountability, NNIC said it will be better positioned to monitor service levels, pinpoint where operational problems originate and compel corrective action.

The operator is applying the same approach to its agreements with ground handling and other service providers, setting operating requirements for companies performing critical functions on behalf of airlines inside the airport.

These arrangements are aligned with existing government regulations and NNIC’s obligations under the Naia concession.

The Department of Economy, Planning, and Development’s revised unemployment forecast-now projecting a troubling 5.8 percent jobless rate for 2026-should serve as a wake-up call to policymakers who have long relied on superficial growth metrics while ignoring structural economic vulnerabilities. With 2.62 million Filipinos already out of work in the first half of this year, the government’s admission that its earlier 4-5 percent target was overly optimistic exposes a fundamental failure to anticipate the cascading effects of global instability and domestic policy inertia. The numbers tell a sobering story. Job creation plummeted from 586,000 positions in 2024 to just 432,000 in 2025-a 26 percent decline that coincided with rising underemployment (now at 13.6 percent) and vulnerable employment (33.1 percent). This is not merely a temporary blip attributable to external shocks. While DepDev cites Middle East tensions and the potential return of overseas Filipino workers as contributing factors, these explanations obscure a more uncomfortable truth: the economy has become dangerously dependent on low-quality, precarious service sector jobs while systematically shedding positions in productive sectors like manufacturing and agriculture.

The sectoral breakdown reveals the hollowness of our so-called economic resilience. Yes, administrative and support services added 224,000 workers, largely thanks to the IT-BPM industry’s continued expansion. Public administration temporarily absorbed 137,000 workers for election-related positions. But these are not the foundations of sustainable, broad-based employment. Meanwhile, manufacturing shed 88,000 jobs, agriculture lost 49,000 workers, and wholesale and retail trade contracted by 54,000 positions. When an economy sheds jobs in the sectors that actually produce goods and add tangible value, while expanding only in auxiliary services and temporary government posts, it signals a dangerous hollowing out of productive capacity.

DepDev’s medium-term optimism-projecting a return to 4-5 percent unemployment by 2027-2028-rests on the assumption that ‘rapid technological change and the transition to a greener economy’ will magically create high-quality employment opportunities. This is wishful thinking dressed up as policy foresight. The same report acknowledges that new technologies will likely reduce demand for routine and lower-skilled jobs while increasing demand for workers with AI and advanced manufacturing capabilities. Yet where is the massive upskilling program to prepare the 2.62 million currently unemployed-and the millions more in vulnerable employment-for this transition? Where is the industrial policy to attract green manufacturing investments that could absorb agricultural workers displaced by both climate change and trade liberalization?

The government’s revised growth target of 3.5-4.5 percent for 2026-down from previous projections-suggests that policymakers recognize the economy is operating below potential. But recognizing a problem and addressing it are different matters entirely. The persistence of vulnerable employment, the rise in unpaid family workers (up 159,000), and the swelling ranks of the underemployed indicate that the labor market is not just facing a quantity problem but a quality crisis.

The inconvenient reality is that the country has pursued a growth model that prioritizes consumption-driven expansion and service-sector outsourcing over industrialization and agricultural modernization. This model has delivered impressive headline GDP figures in the past but has proven incapable of generating sufficient decent work for a growing population. The 2026 unemployment revision is the bill coming due.

If the government is serious about its 2027-2028 targets, it must move beyond reactive adjustments and embrace structural reforms: meaningful investment in technical education, aggressive industrial policy to reshore manufacturing, and social protection systems that actually reach the vulnerable. Otherwise, the promised recovery will remain just that-a promise, receding further with each passing year while millions of Filipinos struggle to find work worthy of their dignity and capabilities.

The Department of Migrant Workers (DMW) has repatriated more than half of the roughly 400 Filipino seafarers who were aboard 27 ships attacked in the Northern Black Sea amid the Ukraine-Russia war.

DMW Secretary Hans J. Cacdac made the announcement after the launch of the Philippines-New Zealand Friendship Week at the DMW main office in Mandaluyong City last Tuesday.

‘Around 260 of them have come home. So more than 50 percent or around 60 percent have returned home,’ he said partly in Filipino in a press briefing.

He gave the update after DMW reported during the weekend the safe condition of the 39 Filipino crew members of two ships, which were hit by drone attacks at the Black Sea.

Since tensions in the Black Sea escalated, Cacdac said they have recorded three Filipino sailors, who died, and another 15, who were injured from the ongoing conflict in the said body of water.

He said the government was able to send home the said sailors via Romania and Turkiye, where they also received aid from the team of DMW and Department of Foreign Affairs (DFA) officials and personnel.

The interventions include welcoming sailors when they disembark from ships, preparing their repatriation, giving them financial assistance, and coordinating with their families in the Philippines.

Compared to the ongoing tensions in the Red Sea, where there are also stranded Filipino sailors, Cacdac said the situation in the Black Sea is less concerning since there are various available exit routes of ships to safely navigate to.

To prevent more Filipinos from being affected by the ongoing conflict in the Black Sea, the DMW chief urged Filipino sailors to exercise their right to refuse to sail in such dangerous waters.

DMW also called on shipowners not to bring Filipino seafarers in the said area, which the DFA and the Department of National Defense has tagged to be under ‘full scale international armed conflict.’

A proposed five-year term for barangay and Sangguniang Kabataan (SK) officials could end the recurring cycle of postponing village and youth elections, the Commission on Elections (Comelec) said.

Under the proposal, barangay and SK officials would serve five years instead of the current four-year term and move the next regular elections to November 2028.

Comelec is considering the measure as a way to prevent barangay and SK polls from repeatedly overlapping with national and local elections.

‘For the longest time, it comes to a point when they coincide, and when they coincide, this is used as a reason to request that the elections be moved,’ Comelec spokesperson John Rex Laudiangco said.

Despite being local polls, barangay and SK elections require nationwide logistics and preparations, Laudiangco said.

‘Even if these are barangay and SK elections, the logistics and preparation cover the entire country,’ he said.

A five-year cycle would also keep barangay and SK elections(BSKE) from falling within the same year as national and local elections, according to the poll body.

Such a setup would give local officials a more predictable election calendar and reduce the likelihood of another congressional intervention to move the polls.

Senate Bill No. 2387 contains the proposal, seeking to amend Republic Act No. 12232 by setting the term of barangay and SK officials at five years.

The Senate Committee on Local Government has approved the measure for preparation of a committee report, alongside a separate proposal seeking to postpone the Nov. 2 BSKE.

Meanwhile, the House of Representatives is also expected to consider a counterpart measure, with Comelec saying it will follow whatever law Congress ultimately approves.

‘We will abide by the law. Whatever the decision of Congress is, we will follow,’ the spokesperson said.

Comelec is seeking clarity from lawmakers by September as preparations continue for the scheduled November polls.

Planned training for teachers who will serve as election workers is among the reasons for the urgency, as transportation, meals and other expenses could no longer be recovered if the elections are moved.

‘If we proceed with the training, that would be an additional expense that Comelec can no longer recover,’ he said.

Previously procured ballots, ballot boxes and other election paraphernalia could still be used if the elections are reset, while training expenses would already have been incurred.

Comelec has allocated P19.57 billion for the 2026 BSKE, with about P8 billion already spent, obligated or earmarked for election preparations, according to Comelec Chairman George Erwin M. Garcia.

THE Asian Development Bank (ADB) committed $143.3 million (roughly P8.839 billion) for private-sector operations in the Philippines last year, with $109.4 million (about P6.746 billion at current exchange rates) in capital mobilized alongside the financing, according to a new report.

In its ‘Private Sector Operations in 2025: Report on Development Effectiveness’ released last Tuesday, the ADB said $129.8 million was in long-term financing, which mobilized $95.8 million, while $13.6 million was in short-term financing, with the same amount mobilized. Among the Philippine transactions listed in the report was ‘Project Tulip,’ ADB’s investment in the initial public offering (IPO) of Maynilad Water Services Inc.

The ADB committed $100 million from its own resources to the IPO, while another $45 million was invested through the ADB-administered ‘Leap 2’ facility, bringing the ADB’s total investment to $145 million.

Maynilad’s IPO raised P34.3 billion, or about $607 million, with 97 percent of the proceeds reserved for its capital expenditure program, including improvements to raw water conveyance, sewer coverage, and wastewater treatment facilities.

The report also listed a $29.8 million peso-denominated loan to Fuse Financing Inc., the lending arm of G-Xchange Inc., for its online lending platform. The ADB said at least 60 percent of the proceeds will be directed to micro-sized, small-scale, and medium-sized enterprises (MSMEs) owned or led by women, while 50 percent will go to businesses operating in provinces with high poverty incidence.

Other Philippine transactions listed by the ADB included the project of Asialink Finance Corp. to expand SME financing through secured vehicle lending. The transaction also included the ADB Ventures investment in Nibertex Pte. Ltd.

Across its developing member countries, the ADB committed 49 private-sector projects last year, down from 58 projects in 2024.

Despite the lower number of projects, committed project financing increased to $3.097 billion from $2.614 billion.

Total financing for private investment reached $9.5 billion, 38-percent higher than in 2024, while direct private capital mobilization rose 31 percent to $4.7 billion, the report said.

The ADB said its 2025 private-sector operations covered areas including renewable energy, digital infrastructure, waste management, education, health, and access to finance.

The bank also committed $1.6 billion in climate financing, equivalent to 69 percent of its committed private-sector projects during the year.

With an estimated P24.4 billion worth of rice wasted annually, the Department of Agriculture (DA) is urging Filipinos to consume rice more responsibly, emphasizing its critical role in national food security.

This, as the Philippine Rice Research Institute (PhilRice) pushed its Be RICEponsible campaign year-round, from being observed mainly in November, since responsible consumption should not be limited to 30 days.

PhilRice estimates that every Filipino discards roughly two tablespoons of cooked rice daily, translating to 10.85 million sacks of rice worth P24.4 billion a year. This could feed around 5.17 million Filipinos for an entire year.

Agriculture Secretary Francisco Tiu Laurel Jr. said responsible rice consumption should become an everyday practice, considering the staple’s importance to Filipino households and national food security.

‘Every grain of rice carries the work of a Filipino farmer. When we waste less, choose wisely, and support locally produced rice, we strengthen not only our farmers’ livelihoods but also our country’s food security,’ Tiu Laurel said.

For his part, Agriculture Undersecretary Christopher Morales said a year-round campaign shows the need to make responsible consumption an everyday discipline rather than a seasonal reminder.

‘Increasing production and reducing postharvest losses are critical to strengthening our rice supply, but these efforts will not be enough if we continue to waste what we already have on our plates,’ Morales said.

‘Disciplined consumption is just as important. Every grain saved from waste effectively adds to the food available to our people without requiring additional land, water, inputs, or production costs,’ he added.

The DA said PhilRice and its partners will introduce the campaign to schools, communities, markets, workplaces, terminals, and other high-traffic areas through information drives, food-tasting activities, exhibits, social media, and public events.

They also aim to revive the Half-Cup Rice Ordinance in participating areas, encouraging restaurants to offer smaller servings to help diners avoid taking more than they can consume.

Meanwhile, the agency also urged consumers to purchase locally produced rice to support Filipino farmers and enhance domestic supply.

‘Riceponsibility starts with something as simple as taking only what we can finish,’ Tiu Laurel said. ‘If every Filipino does a little, the country gains a lot, from less waste and healthier diets to stronger farmers and a more secure food supply.’