More in Economy
DSWD Secretary Advocates for Expanded Support to Youth in Conflict with the Law
CAUAYAN City, Isabela — Department of Social Welfare and Development (DSWD) Secretary Rex Gatchalian underscored the significance of providing renewed opportunities for children who have encountered legal troubles. During his visit on Monday, September 8, to the Bahay Pag-Asa halfway house in Cauayan City, Secretary Gatchalian engaged with residents and local community members, listening to their stories of hope and ambition. Highlighting the role of such centers, Gatchalian emphasized that these facilities should function as more than just temporary shelters; they must be platforms for rehabilitation and personal growth. "We are committed to the principle of second chances. This is why we advocate for the expansion and improved management of Bahay Pag-Asa centers nationwide to better support youth who have erred," he stated. His remarks reflect the DSWD’s ongoing efforts to strengthen social welfare programs aimed at reintegrating young offenders into society with positive prospects for their future.
Economy
|1 min read
Supreme Court Honors 2025 Metrobank Foundation Outstanding Filipinos for Exemplary Public Service
The Supreme Court convened a special ceremony to recognize the 2025 Metrobank Foundation Outstanding Filipinos, honoring 10 exceptional individuals whose dedication to public service has significantly contributed to nation-building. The honorees, representing educators, soldiers, and police officers, were celebrated for their exemplary commitment and integrity. Chief Justice Alexander G. Gesmundo led the event held at the SC Session Hall, accompanied by Associate Justices Rodil V. Zalameda, Jose Midas P. Marquez, and Maria Filomena D. Singh. This annual recognition traditionally involves an associate justice serving as co-chairperson of the awards’ Final Board of Judges. The 2025 awardees from the academic field included Noel V. Sadinas, Amando Perfecto C. Molin, Dr. Mylene M. Uy, and Dr. Angelo Mark P. Walag. Military honorees comprised UO1 Anro Anthony M. Turallo, Colonel Ricky L. Canatoy, and Colonel Joey T. Fontiveros. From the police force, the awardees were PMSg Ivan A. Velasco, PMAJ Elmira A. Relox, and PCOL Frederick E. Obar. Chief Justice Gesmundo lauded the recipients as "beacons of hope," emphasizing that their dedication transformed them from "anonymous public servants" into notable figures inscribed among the 725 Filipinos who have profoundly impacted the nation since 1985. He highlighted that genuine nation-building is fostered through "daily acts of dedication, compassion, and quiet achievement." The Supreme Court reaffirmed its pride in its enduring partnership with the Metrobank Foundation, which has consistently recognized outstanding Filipinos over the past decades. Metrobank Foundation President Philip Francisco expressed gratitude to the Court for its continuous support and hosting of the event, reaffirming the foundation’s commitment to making a lasting contribution to nation-building.
Economy
|2 min read
Calls Grow for Science-Based Decisions on Class Suspensions Amid Rising Education Concerns
Class suspensions across the country have sparked widespread concern as authorities continue to halt classes based on anticipated weather conditions, often without corresponding impacts on actual rainfall or safety. Since June, schools have experienced at least eight suspension days, nearly two weeks lost from the academic calendar. Further disruptions risk exceeding a month of lost class time, excluding extensive regular holidays already observed. The Coordinating Council of Private Educational Associations of the Philippines criticized these decisions, urging government officials to ground suspension orders in science and local data rather than applying broad, automatic directives. In a statement, they warned that such blanket suspensions hinder school preparations, undermine resilience within educational communities, and diminish student learning value. Parents from Bicol echoed this frustration, emphasizing that the centralized suspension mandates disregard localized forecasts from agencies like the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA). They lamented that this top-down approach weakens the capacity of local governments to make informed decisions based on their specific conditions. The Department of the Interior and Local Government (DILG) has even coined the term "abangers" to describe students and parents who eagerly monitor class suspension announcements, a label reflecting concerns about possible complacency or misuse of suspension days. Critics argue this perception undervalues education and fails to address the Philippines’ alarming learning poverty rates. According to World Bank data, nearly 91% of Filipino students in Grades 4 and 5 struggle with reading and comprehension, far exceeding rates in neighboring East Asian countries such as Japan, South Korea, and Singapore, where rates remain under 5%. Despite this, officials seem to prioritize politically popular but potentially detrimental suspension practices over educational progress. Advocates call for a shift toward a more rational, evidence-based decision-making framework wherein local leaders—governors and mayors—in coordination with school officials determine suspensions based on scientific forecasts. Modern communication tools and digital platforms enable swift coordination and continuity of learning, even during suspensions. Remote learning options, prior assignment distributions, and better coordination could mitigate the educational setbacks caused by abrupt class cancellations. However, concerns remain that using mass media for blanket announcements serves political interests more than the educational welfare of students. Experts warn that as traditional economic opportunities in agriculture and industry decline, education remains the most vital pathway out of poverty for millions of Filipino children. Failure to protect instructional time and uphold the value of education risks depriving future generations of opportunities in technology, finance, and overseas employment. It is imperative that government authorities adopt science-driven protocols for class suspensions and empower local decision-makers to safeguard students’ rights to quality education.
Economy
|3 min read
Capitol and Mandaue City Government Reach Agreement on Cost of Spoiled Rice Under SMB Program
The Capitol and the Mandaue City government have come to an agreement on handling the payment for spoiled rice sold under the Sugbo Merkado Barato (SMB) program, setting the cost at P20 per kilogram. Aldwin Empaces, Assistant Administrator at the Capitol, stated that this arrangement was reached in discussions with Governor Pamela Baricuatro and Mandaue City Mayor Jonkie Ouano, deciding to pay only for the rice that was actually sold. Rather than settling the P1,077,000 amount in cash, Empaces explained that the sum will be redirected as assistance to constituents in Mandaue City. Additionally, rice deemed unfit for human consumption is scheduled to be repurposed as animal feed. Empaces also mentioned that Governor Baricuatro plans to visit Mandaue City soon to discuss further progress and development initiatives. This agreement builds upon the SMB program, which was introduced during the previous administration. The initiative involves distributing National Food Authority (NFA) rice at a subsidized price of P20 per kilo to support local communities.
Economy
|1 min read
DOTr and LTO File Complaint Over Fake License Use by Former Bulacan Engineers
The Department of Transportation (DOTr) and the Land Transportation Office (LTO) have officially lodged a complaint against dismissed Bulacan First District Engineer Henry Alcantara and former Assistant District Engineer Brice Hernandez. The charges involve violations of Article 172 of the Revised Penal Code, specifically relating to the falsification of documents. This action follows Alcantara and Hernandez’s earlier admission that they used counterfeit licenses to access casinos. DOTr Secretary Giovanni Lopez emphasized the gravity of the offense, stating, \"If you recall during the Senate hearing, despite Alcantara claiming the license was provided by the casino, they never denied using it, which is a criminal act. The DOTr and LTO will not allow any individual, official or private, to violate our licensing rules. They will be held accountable under the law.\" Secretary Lopez also revealed that investigations are ongoing and that additional cases may be filed against the so-called \"BGC Boys\" and those suspected of supplying the fake IDs. \"Our assessment indicates these licenses are fake, so we need to investigate all involved parties. We prioritized filing against District Engineer Alcantara and former Assistant District Engineer Hernandez first.\" If found guilty, Alcantara and Hernandez could face penalties of up to six years in prison and a fine reaching one million pesos.
Economy
|2 min read
Motorcycles Swept Away by Truck in Cabanatuan Sparks Roadside Parking Debate
A video capturing two motorcycles being swept away by a truck along a road in Cabanatuan City, Nueva Ecija, has sparked renewed discussion about roadside parking practices in the Philippines. The footage, originally posted by the Facebook page "Parkeserye" on September 11, depicts the incident occurring on the evening of September 9 in Barangay Valdefuente. The video shows two motorcycles parked on the right side of a well-lit street while a car is on the opposite side. Moments later, a large truck passes by and knocks the motorcycles over before continuing down the road. This clip has drawn significant attention online, amassing over 677,000 views, 10,000 reactions, and more than 2,200 comments from Filipino netizens. Many posts criticized the motorcycle owners for parking along the roadside, suggesting alternative parking on gravel areas instead. Comments ranged from humorous remarks to pointed critiques highlighting the dangers of improper parking. The incident has revived broader conversations concerning the regulation of roadside parking, a persistent source of frustration for commuters nationwide. In 2022, a legislative proposal was introduced in the House of Representatives mandating that prospective vehicle owners in Metro Manila and other major cities must secure dedicated parking spaces prior to purchasing cars. Former Marinduque Representative Lord Allan Velasco emphasized the impact of unchecked vehicle ownership on urban congestion, stating, "Private cars are easy to own and cheap to use. While traffic congestion can be caused by various factors, it is worsened when car owners use public roads as parking spaces." He further noted, "When roads become parking lots, travel times increase and vehicular queues worsen. This is especially acute in metropolitan areas." This footage and the ensuing debate underscore the ongoing challenges faced in managing urban traffic and ensuring safe, orderly parking practices in rapidly growing Philippine cities.
Economy
|2 min read
Barter Trade Resurges in Russia Amid Western Sanctions and Economic Strains
Russia has witnessed a revival of barter trade in its foreign commerce for the first time since the early 1990s, as businesses seek to navigate and circumvent Western sanctions imposed over the conflict in Ukraine and the Crimea annexation. Major sanctions from the U.S., Europe, and allied nations — totaling over 25,000 measures — aim to cripple Russia's $2.2 trillion economy and pressure the Kremlin. Despite this, Russian President Vladimir Putin has declared the economy to be more resilient than expected, noting growth exceeding that of G7 countries in recent years. Nevertheless, the Russian economy faces mounting difficulties, including a technical recession and high inflation rates. The sanctions have disrupted access to global financial systems, with Russia's banks disconnected from the SWIFT payment network and Chinese banks wary of secondary sanctions. Under these constraints, barter transactions have begun to re-emerge as a less traceable means of conducting trade. The Russian Economy Ministry issued a detailed 14-page "Guide to Foreign Barter Transactions" in 2024, outlining how companies can leverage barter exchanges to circumvent sanctions. It also proposed establishing a trading platform dedicated to barter transactions. Trade sources and customs data indicate growing instances of direct goods-for-goods exchanges between Russia and countries like China and Pakistan. One notable deal involved trading Russian wheat for Chinese vehicles, where the Chinese side requested payment in grain rather than currency. Additional transactions included the exchange of flax seeds for Chinese household appliances and building materials, and metals traded for machinery and raw materials. Maxim Spassky, Secretary of the General Council of the Russian-Asian Union of Industrialists and Entrepreneurs, remarked, "The growth of barter is a symptom of de-dollarisation, sanctions pressure and liquidity problems among partners," predicting that barter volumes will continue to increase. Evidence of barter's rising significance is reflected in the widening gap—estimated at $7 billion in the first half of 2024—between Russia's central bank trade statistics and customs service records. Russia's customs officials acknowledge that barter occurs across various goods and trading partners, though they describe such transactions as minor compared to overall foreign trade volumes. From January to July 2024, Russia’s foreign trade surplus fell 14% year-on-year to $77.2 billion, with exports dropping $11.5 billion and imports rising slightly. Several industry insiders also report that barter enables the import of Western products into Russia despite sanctions, though details remain undisclosed. Moreover, alternative payment strategies, including the use of payment agents, the state-controlled VTB Bank’s Shanghai branch, and cryptocurrencies pegged to the U.S. dollar, are being utilized by businesses to maintain trade flows. At the August Kazan Expo business forum, Xu Xinjing, chairman of China's Hainan Longpan Oilfield Technology Co., emphasized barter's potential, stating, "In the current conditions of limited payments, barter provides new opportunities for enterprises in Russia and Asian countries." Historically, barter dominated Russia's post-Soviet economy in the 1990s amid cash shortages and rampant inflation, resulting in complex and often opaque transaction chains that hampered valuation and fostered economic instability. Today, barter's resurgence is a direct consequence of geopolitical pressures and the evolving international trade landscape, underscoring the enduring impact of sanctions on Russian commerce. "There is no ready-made technological answer yet. The economy is surviving, and business is simultaneously applying 10-15 different payment methods," said Sergey Putyatinsky, Vice President for Operations and IT at Russian financial firm BCS, highlighting the adaptability of Russian enterprises amid current challenges.
Economy
|3 min read
Philippines Boosts Renewable Energy Investment through Government Incentives and Partnerships
The Philippines is enhancing its drive to attract foreign investments in the renewable energy sector by leveraging supportive government policies and incentives, a senior British Embassy official said. Lloyd Cameron, economic and climate counsellor at the British Embassy in Manila, highlighted British firms' readiness to invest in the country, emphasizing their search for viable opportunities. Speaking at a clean energy transmission forum organized by the British Chamber of Commerce Philippines, Cameron noted, "The government has given a strong market signal and you've got really concrete action from the government, whether that's the green lanes or recent developments, the extension of leases, exploring, making right-of-way, facilitating right-of-way issues, and anti-red tape." He also praised the commitment and innovation of Philippine businesses, stating that they are essential partners in advancing the renewable energy agenda. Currently, renewable energy accounts for about 22% of the Philippines' energy mix. The Department of Energy (DOE) aims to increase this share to 35% by 2030 and to 50% by 2040. Key measures supporting this growth include easing restrictions on foreign ownership, providing preferential dispatch for renewable energy in the Wholesale Electricity Spot Market, and implementing the Energy Virtual One-Stop Shop (EVOSS) under Republic Act 11234, which simplifies permit processing. Edward Neri, chief of the DOE's Solar Energy Management Division, highlighted the ongoing Green Energy Auction program, which has been active since 2022. The winners of the fifth auction are expected to be announced in October. Neri emphasized that these initiatives reflect the government's commitment not only to expanding renewable energy capacity but also to promoting energy efficiency, adopting emerging and advanced market technologies, and developing a resilient energy grid.
Economy
|2 min read
South Korea to Strengthen Cybersecurity Regulations Following Major Data Breaches
South Korea announced plans to overhaul its cybersecurity policies by introducing harsher penalties for companies that inadequately manage personal data and by encouraging firms to increase cybersecurity investments. The government aims to establish comprehensive preventive measures rather than relying on temporary fixes, following a series of serious data breaches involving major corporations. Second Vice Minister of Science Ryu Je-myung highlighted these initiatives during a joint press conference with the Financial Services Commission (FSC), addressing recent breaches at SK Telecom Co., KT Corp., and Lotte Card Co. He stated, \"The science ministry, in collaboration with top security experts, will undertake a thorough review of the current security framework to implement fundamental solutions.\" This policy revision follows President Lee Jae Myung's directive to devise long-term strategies to minimize damage from hacking attempts. The government intends to strengthen sanctions against companies that intentionally postpone reporting breaches and will empower authorities to launch investigations even in the absence of disclosure. Ryu added, \"We also plan to introduce incentives encouraging businesses to proactively invest in cybersecurity enhancements.\" Complementing this stance, FSC Vice Chairman Kwon Dae-young emphasized that punitive measures would reflect the societal impact of security breaches. He remarked, \"To prevent setbacks from hacking as South Korea pursues leadership in artificial intelligence, collaboration among government, financial institutions, and related entities is essential to build a robust security infrastructure.\" Recent incidents reported include KT Corp.'s disclosure that the victims of a mobile payment security breach have increased to 362 individuals, with damages estimated at approximately 240 million won (US$173,000). Lotte Card Co., the nation's fifth-largest credit card issuer, revealed that personal data of around 3 million customers was compromised last month. Kwon assured that the government will rigorously monitor Lotte Card's response and enforce prompt protective measures for affected customers. He cautioned, \"If investigations uncover any regulatory violations, stringent disciplinary actions will be pursued to set a precedent.\" Furthermore, SK Telecom Co. confirmed in April that sensitive data of its entire user base may have been exposed during a cyberattack. Recently, a hacker group attempted to distribute client information via Telegram, raising further concerns over data security. Together, these measures signal South Korea\'s commitment to strengthening cybersecurity governance and protecting citizens\' data amidst mounting digital threats.
Economy
|2 min read
Rise in Online Travel Scams Targets Filipino Tourists Amid Growing Holiday Demand
Mary (a pseudonym), an overseas Filipino worker, sought to create memorable experiences for her family by organizing a two-week trip to Thailand in celebration of her daughter\'s graduation. Despite meticulously arranging the itinerary and accommodations, she overlooked securing travel insurance. Acting on a relative\'s advice, she sought affordable insurance from online travel agencies and was quickly contacted by YSL Travel and Tours, which appeared credible with over 28,000 Facebook followers and numerous positive testimonials. Enticed by an initial offer of insurance priced at ₱600 per person, Mary was asked to pay a 60% downpayment immediately. However, the agency abruptly altered the terms, demanding full payment upfront. After complying, Mary experienced a sudden cessation of communication from YSL Travel and Tours, raising her suspicions that she had fallen victim to an online scam. Her experience reflects a broader surge in such fraudulent activities. The Philippine National Police Anti-Cybercrime Group (PNP-ACG) reported a steep increase in travel scam cases, rising from 39 incidents in 2021 to 313 in 2023, with 89 cases already logged in the first five months of 2025. Police Lieutenant Edessa Rodriguez noted, \"Most victims fall for fake travel packages, bogus accommodation offers, and untraceable travel agents after making payments.\" She added that scams typically spike during March and April when travel demand peaks. Investigations into YSL Travel and Tours using open-source intelligence revealed multiple red flags. Online travel scam watch groups flagged the agency, with affected users exposing fraudulent documents and falsified licenses supposedly from local government and travel associations. Official confirmation from the Department of Tourism verified that YSL Travel and Tours holds no accreditation. Further scrutiny uncovered a network of related fraudulent agencies operating under various names, including RNB Travel and Tours, which has a suspicious history of name changes and duplicated content from legitimate travel companies. This network also operates under aliases such as Hinata Travel and Tours, MK8 Travel and Tours, and Sakura Travel and Tours, among others. Some pages have been deleted, while others remain active as of 2024. Despite the rising number of victims, the PNP-ACG highlighted the challenge of limited formal complaints, which hinder law enforcement efforts. \"We encourage the public to report all scam incidents to facilitate thorough investigations and legal action,\" Rodriguez emphasized. She explained the role of legal instruments like the warrant to disclose computer data (WDCD) in obtaining necessary information from service providers to identify perpetrators. To avoid falling prey to such scams, authorities advised travelers to: - Confirm if travel agencies are licensed and authorized by the Department of Trade and Industry (DTI) or Department of Tourism. - Be skeptical of offers that seem unusually inexpensive or \"too good to be true.\" - Resist pressure tactics urging immediate payment. Mary reflects on her ordeal with a cautionary message: \"Always exercise caution with online and social media transactions. Verify services through trusted sources, not just online ads. Scams are real, and vigilance is the best protection.\"
Economy
|3 min read