News & Stories

ANALYSTS are calling on Congress to quickly pass legislation institutionalizing the Independent Commission for Infrastructure (ICI), citing the need for a permanent, empowered body to probe corruption in government infrastructure projects.

Arjan P.

Aguirre, a political science lecturer at the Ateneo de Manila University, said the ICI must be carefully structured to protect its autonomy and ensure it can effectively carry out its mandate.

“In its current form, the ICI lacks the power and independence needed to investigate and enforce accountability in the flood control controversy,” he said in a Facebook Messenger chat. The

commission was created through Executive Order No. 94 amid a scandal involving lawmakers and public works officials accused of siphoning billions from flood control projects. The

ICI, created by an executive order, can gather information and coordinate with agencies but cannot compel testimony, override court orders or initiate prosecutions. Sepa

rate bills in the Senate and House of Representatives propose giving it subpoena, contempt and freeze-order powers, while investigations will cover all national and local infrastructure projects, from education to disaster resilience. Repo

rts must be issued within 30 days of investigation, with inquiries completed in 60 days. Mich

ael Henry Ll. Yusi

ngco, a fellow at the Ateneo Policy Center, urged civil society to support the commission and pressure courts to ensure transparency. Stro

MALACAÑANG on Wednesday said President Ferdinand R. M

arcos, Jr. would not certify the 2026 General Appropriations bill as urgent, marking the first time he has withheld such certification since assuming the presidency in 2022. P

alace Press Officer Clarissa A. C

astro said lawmakers are close to completing the national spending plan. “

Not this time because they’re almost done, and as far as we know, they will be submitting the enrolled copy of the bill before Christmas,” she told a news briefing in Filipino. The nat

ional budget sets the government’s funding priorities for critical sectors and strategic programs. Malacañan

g last week urged Congress to fast-track the measure, emphasizing that Mr. Marcos doe

s not want a reenacted budget, which occurs when the previous year’s General Appropriations Act remains in effect until a new budget is passed. Congress is

deliberating on the 2026 budget, with a bicameral conference committee scheduled for Dec. 11-12. Lawma

kers ai

THE Senate agriculture committee on Wednesday cited Chinese trader Shi Chaoqun in contempt for allegedly lying about having no government contacts who had helped him smuggle agricultural products into the Philippines.

Senator Francis Pancratius N.

Pangilinan said Mr.

Shi’s explanation was insufficient, while Senator Erwin T. Tu

lfo accused him of lying under oath about how he was able to run a trading business in the country despite not speaking Filipino and claiming to have no local contacts. “W

e are being fooled. He s

ays he conducts business here, but he is Chinese, and he insists he has no local contact,” Mr. Tulfo

said. Speaki

ng through an interpreter, Mr. Shi sa

id he never communicated with government offices. “I can

A charity bone marrow transplant ward for pediatric patients is set to open at the Philippine General Hospital (PGH) in June 2026, according to the I Want To Share Foundation (IWTS) on Wednesday.

The rooms are being furnished by local furniture company Genteelhome to help young patients recover in a comfortable environment.

Construction of the ward began in October and will feature four fully equipped medical rooms, specifically designed to meet the special needs of children undergoing bone marrow transplants.

“These rooms are designed to protect patients whose immune systems are extremely fragile,” Sheila B. Rome

ro, IWTS founder, said during a partnership event with Genteelhome. The

ward will follow strict infection control protocols, including HEPA-filtered air systems and carefully planned layouts to allow health workers to operate efficiently, Ms. Rome

ro said. The

country’s first charity bone marrow transplant ward, she said, aims to provide free or subsidized transplants at PGH for over 600 children with blood-related disorders who require the procedure. Its co

nstruction funding came from the IWTS and will be operated by PGH. During

the event, it was announced that the ward will be furnished by Genteelhome to provide children with a more comfortable experience during their weeks of recovery. The fu

The Department of Justice (DoJ) has dismissed the complaints against celebrity Gretchen C.

Barretto in connection with the disappearance of more than two dozen cockfighting enthusiasts, ruling that the allegations lacked evidence.

In a 120-page resolution, prosecutors said claims tying Ms.

Barretto and several others to the so-called Pitmaster Alpha Group were “speculative and uncorroborated,” noting that no witness or material proof linked them to the abductions. Ms.

Barr

etto’s lawyer, Alma Fernandez-Mallonga, welcomed the ruling, saying her client had long maintained she had no involvement in the case. “There

is no truth to the accusations. She play

ed no part in the situation of the missing cockfighters,” she said, adding that Ms. Barretto w

as grateful for the support she received. The DoJ pa

nel said the complaints should be dismissed for lack of merit, though future charges could still be filed if new evidence emerges connecting any of the respondents to the unlawful detentions. — Erika Mae P. Sinaking var

PRESIDENT Ferdinand R.

Marcos, Jr. on Wednesday said the government has canceled the passport of resigned congressman Elizaldy S.

Co, who is implicated in anomalies in multibillion-peso flood control projects, as authorities move to block key suspects from fleeing the country.

Mr.

Marcos said he had ordered the Department of Foreign Affairs and Philippine National Police to coordinate with foreign embassies to ensure Mr.

Co could not seek refuge abroad.

Diplomats have been told to immediately report any attempt by Mr.

Co to enter their jurisdiction so the government can facilitate his return.

“You can expect our investigation to continue… to hold those guilty accountable and ensure stolen public funds are returned to the people,” he said in a video message in Filipino. Mr. Co

, a

THE WORLD BANK (WB) sees a gradual recovery for the Philippines in 2026 and 2027, after growth slowed this year due to weaker investment and sluggish consumption, compounded by a corruption scandal and a string of natural disasters.

In its latest Philippines Economic Update released on Tuesday, the multilateral lender trimmed its Philippine gross domestic product (GDP) growth forecast to 5.1% for this year from 5.3% in its June report.

For 2026, it lowered its Philippine GDP growth forecast to 5.3% from 5.4% previously.

The World Bank also cut its Philippine GDP growth projection for 2027 to 5.4% from 5.5% previously.

These latest projections are below the government’s 5.5-6.5% growth goal for this year and the 6-7% target for 2026 to 2028. “T

o borrow from Torsten Slok, chief economist at Apollo (Management), it’s a Nike swoosh pattern. He des

cribes the US economy, and I’m describing our forecast for the Philippines as a kind of Nike swoosh. We have

a dip in 2025, and then we have a gradual recovery in 2026 to 2027,” World Bank Senior Economist Jaffar Al-Rikabi said during a briefing. He noted t

he average growth of the Philippines over 2025 to 2027 will be lower than 2024 when GDP expanded by 5.7%. “For 2025…

the growth is largely weighed down by domestic factors. In particular,

THE PESO sank to a new all-time low on Tuesday to join most regional currencies’ decline against the US dollar on cautiousness before the US Federal Reserve’s policy meeting, with bets on a rate cut by the Bangko Sentral ng Pilipinas (BSP) also affecting sentiment. The

local unit slid by 28.5 centavos to close at P59.22 versus the greenback from its P58.935 finish on Friday, Bankers Association of the Philippines data showed. This

was a fresh low for the peso, beating the previous record of P59.17 logged on Nov. 12.

Year

to date, the local currency has depreciated by P1.375 or 2.32% from its P57.845 finish on Dec. 27,

2024. The

peso opened Tuesday’s session weaker at P59.08 versus the dollar. Its in

traday best was at P59.07, while its worst showing was its closing level of P59.22 against the greenback. Dollar

s traded went down to $1.097 billion on Tuesday from $1.423 billion on Friday. The pe

so dropped along with its regional peers as the dollar was stronger overnight on higher US Treasury yields as markets await the Fed’s policy decision, the first trader said in a Viber message. The US c

INVESTMENT PLEDGES approved by the Philippine Economic Zone Authority (PEZA) slumped by 58.59% to P32.211 billion in November from P77.79 billion in the same month a year ago.

The investment pledges are comprised of 38 projects, which are expected to generate 9,802 jobs and $1.741 billion in exports, the agency said on Tuesday.

Of the 38 projects, 22 were in the manufacturing sector, five were facilities, four were in the information technology and business process management (IT-BPM) sector, and three were in logistics.

There were also two new economic zone (ecozone) developments, and two domestic enterprises.

Most of the projects will be in Calabarzon, while the others will be in Central Luzon, the National Capital Region, the Ilocos Region, the Bicol Region, Central Visayas, Northern Mindanao, and the Davao Region.

Federation for Economic Freedom President Calixto V.

Chikiamco said that the decline in pledges may reflect investors’ concerns over the Philippines’ economic fundamentals. “Whi

le the corruption scandal may have affected investor sentiment a bit, more likely, investors are wary of the country’s economic fundamentals,” he said in a Viber message. “The econo

my is still facing geopolitical uncertainty with the 19% tariffs on exports to the US. Investor unc

ertainty, both domestic and foreign, is reflected in the anemic stock market,” he added. The US imposed

RESIDENTIAL CUSTOMERS of Manila Electric Co.

(Meralco) may see slightly lower bills this month as the power distributor cuts electricity rates due to lower transmission and generation charges.

The overall rate will decline by P0.3557 per kilowatt-hour (kWh) to P13.1145 per kWh in December from P13.4702 per kWh in November, the company said in a statement on Tuesday.

This translates to a downward adjustment of around P71 in the total electricity bill of customers consuming 200 kWh.

Those consuming 300 kWh, 400 kWh, and 500 kWh will see their monthly bills go down by P107, P142, and P178, respectively.

“With the holiday season approaching, we hope this rate adjustment gives much-needed relief for our customers,” Meralco Vice-President and Head of Corporate Communications Joe R. Zald

arriaga said in a statement. Mr.

Zald

arriaga said that the P0.1462 per kWh reduction in transmission charge was primarily due to the lower ancillary service charges from the reserve market incurred by the grid operator. Anci

llary services are deployed by the grid operator to support the transmission of power from generators to consumers and to maintain reliable operations. Mera

THE PHILIPPINES has secured 120 gigawatts (GW) worth of committed and indicative renewable energy (RE) projects in the pipeline, boosting the country’s future energy supply, the Department of Energy (DoE) said. “T

his level of investor interest is unprecedented, and we would like to thank you all for that. Howe

ver, interest alone does not build power plants; execution does,” Energy Undersecretary Mylene C. Capong

col said in her speech during the 2025 Energy Security Forum on Tuesday. To tur

n the pipeline of projects into operational power plants, Ms. Capong

col said the government must ensure the availability of key development requirements such as ports, transmission grids, logistics, financing and supply chains. “These

are the backbone investments that determine whether our energy transition will be fast, reliable and crisis-resilient or delayed and vulnerable,” she said. She added

that investors can continue exploring opportunities in the Philippines amid its “clear policy framework, expanding grid interconnection, improving logistics infrastructure and a growing pipeline of bankable projects.” “What we seek

are strategic investments that strengthen system resilience, accelerate project execution and anchor long-term energy security for our people,” she said. Power and energy p

rojects account for 58.74%, or about P479.78 billion, of approved investments this year, based on data from the Board of Investments. “Our direction is

GAJAH GALLERY is continuing its expansion through Southeast Asia with the opening of its newest space, this time in Manila.

This is its 4th gallery space after Singapore, Jakarta, and Yogyakarta.

It is located along Pioneer St. in Mandaluyong City.

Opened on Nov. 28, the gallery will showcase Southeast Asian contemporary art, with the goal of deepening artistic networks across the region.

Since its founding in 1996, Gajah Gallery has mounted museum-quality exhibitions and collaborated with curators and institutions worldwide — which the Philippine space will also do. Th

e gallery has taken up a chunk of the NBS Park (which used to serve as a warehouse for the National Bookstore office next to it). “T

he way we see it is that it’s always been inevitable to open a gallery here because we’ve been exhibiting at Art Fair Philippines since 2016, so it’s been nine years of that,” Gajah Gallery Manager Joaquin Singson told BusinessWorld during the opening reception of its inaugural exhibit. “In 2023, we

did our first all-Filipino show, then after that we just kept going and going. It was a natur

al progression for Gajah Gallery,” he added. CROSS-CULTURAL E

XCHANGE The inaugural exhibit is Confabulations: A Fantasy of the Real, a group show curated by Joyce Toh. It showcases a r