More in Economy

P1 Billion Reallocated to Fund Repairs for Disaster-Damaged Schools in 2026 Budget
Senator Sherwin "Win" Gatchalian revealed that P1 billion will be shifted from unprogrammed appropriations to programmed allocations in the proposed 2026 national budget to finance repairs of school buildings damaged by natural disasters. This announcement came during the plenary review of the Department of Finance (DOF) budget, where Senate Deputy Majority Leader Risa Hontiveros inquired about provisions for repairing schools impacted by events such as typhoons and earthquakes. "Historically, schools have been covered under the National Indemnity Insurance Program (NIIP), but I have not heard any updates following typhoons Tino and Uwan or recent earthquakes," Hontiveros stated. Gatchalian, who chairs the Senate Committee on Finance, explained that the proposal involves transferring P1 billion from the P2 billion allocated under the Government Service Insurance System’s NIIP in unprogrammed funds into programmed funds for the upcoming year. "We will move P1 billion from unprogrammed to programmed funds to ensure that repair works are adequately financed," Gatchalian said. Currently, the Department of Education (DepEd) can already claim insurance reimbursements from the GSIS for damages sustained during recent calamities. These include typhoons Uwan and Tino, as well as significant earthquakes that affected several provinces. "The DepEd can now secure insurance payouts for classroom repairs," he added, noting that the GSIS has reserved a large sum of P2 billion for premium payments. However, Gatchalian pointed out that the claims process tends to take at least one year due to the extensive requirements involved. Post-calamity, DepEd must conduct onsite assessments, estimate repair costs, and submit documentation for GSIS validation. "Typically, it takes over a year for claims to be settled. This delay results in classrooms remaining unusable," he explained. "That is why the proposed budget also includes an increased allocation for repairs and maintenance, so existing classrooms can be restored and utilized promptly."
Economy
|2 min read

Monopoly in Camotes Ferry Services Drives Up Costs for Residents
For many years, the picturesque islands of Camotes, often referred to as the "Lost Horizon of the South," have been celebrated as a tranquil paradise inhabited by warm-hearted communities. However, beneath this serene facade lies a pressing challenge faced by the islanders: the costly and restrictive ferry services connecting them to the mainland. Far from facilitating opportunity and growth, these transportation links have become burdensome for ordinary Camotes residents. The ferry routes operating between Liloan Port and Poro, Danao City; Mactan and Consuelo, San Francisco; as well as the newly established Ormoc City to Pilar and Hagutapay, Tudela line, have largely transformed into tools of economic gatekeeping rather than public service. While the opening of multiple ports might suggest advancement, the reality is that only shipping companies and business owners truly benefit; passengers are often overlooked and burdened. With no competition to regulate prices, operators freely impose high fares irrespective of the short distances involved. Comparatively, fare rates nearly match those of much longer routes like Cebu-Ormoc or Cebu-Bohol, leaving Camotes residents with little to no affordable alternatives. This monopolistic setup raises serious concerns about the role of local government units (LGUs) across the island’s four municipalities — San Francisco, Poro, Tudela, and Pilar. There are suspicions that potential competitors are deliberately obstructed from entering these routes, possibly through delays in permit approvals or undisclosed agreements. If true, such practices undermine fair competition and public interest, implicating officials who should ideally protect community welfare but may instead be complicit in perpetuating high transportation costs. The economic consequences of this scenario are profound. Elevated ferry charges hinder trade, tourism, and local livelihoods. Farmers, fishermen, livestock raisers, and small-scale entrepreneurs must pay steep fees to transport their goods, while students and workers commuting to the mainland suffer from expensive travel burdens. This silent exploitation remains concealed under the guise of "limited services," yet it continues to restrict the growth and prosperity of Camotes Island’s people.
Economy
|2 min read

Iloilo City Mayor Intensifies Efforts to Combat Illegal Fishing and Restore Iloilo River
Iloilo City Mayor Raisa Treñas is intensifying measures to curb illegal fishing activities and restore the health of the Iloilo River. Highlighting the city’s Fisheries Program, Mayor Treñas stated, \"Our Fisheries Program is really about bringing life back to the Iloilo River.\" The initiative includes the continuous release of fingerlings and support for fishermen through the implementation of the Crab Culture Project. In addition to these efforts, the local government ensures regular river clean-up operations. \"Our clean-ups are also consistent,\" the mayor affirmed. She underscored the local government unit’s commitment to fostering a healthier river ecosystem, improving the livelihoods of fishermen, and encouraging a united community effort to sustain the program benefiting Ilonggo fisherfolk.
Economy
|1 min read

Cignal Edges Out Creamline in Thrilling Five-Set PVL Reinforced Conference Clash
In a gripping match at the Ynares Center on Tuesday, Cignal triumphed over defending champion Creamline in a five-set thriller, winning 25-18, 20-25, 22-25, 25-16, 15-11 during the 2025 PVL Reinforced Conference. The Super Spikers, powered by import Katrin Trebichavska, mounted a stunning comeback after trailing late in the third set. From a daunting 21-11 deficit, Cignal rallied to narrow the gap to 24-22, a momentum shift that propelled them to claim the fourth set and extend the match to a decisive fifth set. In the final set, Cignal quickly established dominance, building a 9-4 lead courtesy of Trebichavska’s fierce attacks and precise service aces. Creamline fought back to close in at 11-9, but critical errors by Rose Vargas coupled with timely strikes from Trebichavska and Jackie Acuna secured the match for Cignal. Trebichavska ended the game with a match-high 20 points, while Vanie Gandler contributed 15. Rose Doria-Aquino and Jackie Acuna added 12 and 10 points respectively. Setter Cayuna made a significant impact with 28 expertly delivered sets, and Catindig led the defense with 28 digs. For Creamline, Coco Schwan was the leading scorer with 25 points; however, her teammates fell short of double digits, with Alyssa Valdez and Tots Carlos each contributing nine points. This victory boosts Cignal to fifth place in the standings with a 5-3 record and 13 points, closely trailing Creamline, who also holds a 5-3 record but leads with 17 points.
Economy
|2 min read

Federal Reserve Faces Divisions Ahead of December Interest Rate Decision Amid Economic Data Gaps
The U.S. Federal Reserve is navigating internal divisions and incomplete economic information as it prepares for its December policy meeting, set just over three weeks away. Following a government shutdown that delayed key reports, including employment, inflation, retail sales, and economic growth, policymakers are eager for clearer data to guide their interest rate decisions. The Bureau of Labor Statistics plans to release the postponed September jobs report on Thursday; however, the White House has indicated that some October statistics may remain unreleased, and November figures could also be disrupted due to the government’s temporary closure. The divide within the Federal Reserve centers on whether inflationary pressures remain sufficiently elevated to warrant delaying any rate reductions, or if easing monetary policy is justified amid signs of slowing labor market growth. Fed Governor Christopher Waller emphasized on Monday that inflation acceleration or rising inflation expectations are not causes for concern. "My focus is on the labor market, and after months of weakening, it is unlikely that the September jobs report later this week or any other data in the next few weeks would change my view that another cut is in order," Waller stated regarding the December 9-10 meeting. Conversely, Fed Vice Chair Philip Jefferson advocates for a more cautious approach, noting that the current benchmark federal funds rate—held between 3.75% and 4.00%—may be reaching a threshold that no longer hampers economic growth or inflation. Sharp camps have emerged within the Fed, with several governors, all appointed by former President Donald Trump, pushing for further rate reductions. Meanwhile, some regional Federal Reserve Bank presidents insist on maintaining a firm stance to curb inflation. These disparate views reflect differing priorities and concerns about timing and data reliability. October's 0.25 percentage point rate cut was accompanied by rare dissent from members on both sides of the debate, underscoring the complexity of the decision. Fed Chair Jerome Powell acknowledged the contentious environment, explicitly stating that "a further reduction in the policy rate at the December meeting is not a foregone conclusion—far from it." Market expectations have adjusted accordingly, reducing the likelihood of a December cut as inflation data remains sticky, hovering about 1 percentage point above the Fed’s 2% target. Cleveland Fed President Beth Hammack, a vocal advocate against premature easing, remarked, "We’ve got this persistent high inflation that is sticking around. When all is said and done it will be the better part of a decade. Getting inflation back to 2% is critical to our credibility." The December meeting will also feature updated quarterly economic projections, which may help narrow the divide by providing fresh insight into inflation trends and growth prospects. The pace of government data catch-up will be crucial in bolstering confidence in whatever policy choice is ultimately made. Amid this uncertainty, the Fed faces additional challenges, including a leadership transition as Powell's term as chair expires in May and potential successors are being considered. Complicating the outlook are emerging factors influencing the labor market and inflation that remain poorly understood. Policymakers are exploring whether slow job growth results from cyclical trends, immigration policies, weakening demand from tariffs and inflation, or disruptions caused by technological advancements such as artificial intelligence. Despite these complexities, there is consensus that inflation remains elevated and that convincing evidence is necessary before implementing further rate cuts. Tim Duy, Chief U.S. Economist at SGH Macro Advisors, noted, "A growing chorus of hawks, centrists and even previously dovish FOMC participants appear assured that the data is not likely to justify a rate cut. We think they want convincing evidence that inflation will return to target," likely deferring rate reductions until next year.
Economy
|4 min read

Comelec Sets Deadline for Government Contractors to Explain Campaign Donations in 2022 Polls
On Thursday, November 20, 2025, the Commission on Elections (Comelec) announced its expectation for 27 government contractors implicated in campaign donation controversies to submit their responses by Friday, November 21. Comelec Chairman George Garcia emphasized that this deadline follows the issuance of show cause orders (SCOs) to these contractors. "We expect that by the 21st of November, they will flock here and we will accept their explanations," Garcia stated in an interview. Investigations revealed that these 27 contractors had made contributions to candidates across various national and local positions during the May 2022 elections. The companies involved include Yunakim Construction, AIP Construction, Centerways Construction and Development Inc., 11-16 Construction, Prismodial Construction and Development Corporation, Makiling Construction Ventures Corp., Viking Construction and Supplies, DN'D Construction and Development, Octagon Concrete Solutions Inc., Jozen Builders and Construction Supply Corporation, Aqualine Construction Corporation, R8 Asphalt Plant and Construction Inc., EZJONES Construction Inc., JELM Construction, MWJ Construction, XDR Construction and Supply, Viguz Construction Corporation, Everbuilt Construction, GOC Builders, PAFJ Construction and Supply Inc., AL Salazar Construction Inc., EF Chua Construction Inc., JWU Construction and Supply, DG Chico Trading and Construction, Gateway 21-25 Construction Corp., Tagum Builders Contractors Corp., and GP&H Construction Incorporated. Regarding the candidates who received donations from these firms, the commission plans to issue corresponding show cause orders by next week, seeking their explanations as well. Garcia noted, "By next week, we will be able to issue the show cause orders to the candidates, who were given campaign donations by the 27 government contractors." A total of 21 candidates were identified as recipients of these donations, comprising six senatorial candidates, five party-list groups, four congressional aspirants, three gubernatorial contenders, two vice gubernatorial candidates, and one councilor. The Comelec's ongoing scrutiny underscores its commitment to uphold transparency and accountability in election financing.
Economy
|2 min read

Audit Reveals Unbuilt Farm-to-Market Roads in Davao Occidental Valued at P100 Million
The Department of Agriculture (DA) has uncovered eight farm-to-market road projects in Davao Occidental valued at approximately P100 million that were funded between 2021 and 2023 but have yet to be constructed, according to a preliminary audit report released on Thursday. During a briefing, DA spokesperson Arnel de Mesa stated that four of these projects, ostensibly completed according to reports, showed no actual progress as of September 2025. Some construction activities were noted during the audit, which de Mesa suggested might be efforts to remediate delays. "Since the budget has already lapsed, there should be no ongoing works. However, activity was observed, as noted by the Secretary who saw construction in some sections. The question is: whose funds are being used? They appear to be trying to make up for lost time," de Mesa explained. The audit also identified four additional farm-to-market road projects with no recorded accomplishments during an October 2025 inspection. The DA has forwarded the findings to the Office of the President and plans to submit the report to the Independent Commission for Infrastructure (ICI) for further investigation. "All potential cases will be referred to the ICI, and the report will be submitted accordingly. Although implementation falls under the Department of Public Works and Highways (DPWH) and not the DA, the funds came from the DA budget, so we must uphold accountability," de Mesa said. De Mesa clarified that while the DA’s role involves identifying and validating project sites, it is not responsible for the projects' execution. The DPWH, as the implementing agency, holds liability for the uncompleted works, even if the budget originates from the DA. "The DA’s involvement is limited to site identification and monitoring. The DPWH handles implementation and payment to contractors. Therefore, DA bears no liability since it is not a party to the contracts nor involved in payment approval," he added. Agriculture Secretary Francisco Tiu Laurel Jr. previously disclosed that P75 million worth of similar "ghost" farm-to-market roads were found elsewhere in Mindanao, though he emphasized these occurrences appear isolated.
Economy
|2 min read

3rd Infantry Division Sustains Humanitarian Aid in Cebu Following Typhoon Tino
The 3rd Infantry (Spearhead) Division, headquartered in Jamindan, Capiz, carried out extended humanitarian operations in Cebu following the devastation caused by Typhoon Tino. From November 13 to 18, 2025, troops engaged in clearing debris, search and retrieval missions, and relief distribution across various hard-hit areas of the province. These efforts were executed by the Joint Task Group Cebu in coordination with the 53rd Engineer Brigade to aid residents severely impacted by the typhoon. Major General Michael Samson, commander of the 3rd Infantry Division, highlighted the unwavering dedication of the soldiers, stating, \"I commend our troops for their tireless efforts in the face of adversity. Their courage and compassion reflect the true spirit of service, placing the welfare of the people above all else, being present, being dependable, and being ready to act when our communities need us most. To the people of Cebu, rest assured: the Spearhead Troopers will remain by your side until full recovery is achieved.\" During the six-day mission, Disaster Response Teams focused on clearing operations in Barangay Cotcot in Liloan, Barangay Poblacion in Talisay City, and Barangay Buluang in Compostela. Additionally, teams participated in search and retrieval activities in Barangay Cabadiangan, Compostela, which included the recovery and transport of a cadaver. Soldiers also assisted in unloading and distributing relief supplies in Talisay City, helping expedite aid delivery to affected families. The division was among the first responders when Typhoon Tino made landfall in Cebu, allowing them to begin immediate post-storm operations. The Army emphasized that the sustained deployment of the 3rd Infantry Division and the 53rd Engineer Brigade is part of their ongoing Humanitarian Assistance and Disaster Response (HADR) commitment. This mission ensures continuous support for cleanup, recovery, and relief efforts in impacted communities until normal conditions are restored.
Economy
|2 min read

Long-Term Coal Contracts Impede Asia’s Shift to Renewable Energy
BELEM, Brazil — Prolonged coal-fired power purchase agreements are significantly delaying Asia’s progress toward renewable energy adoption, according to climate experts and renewable advocates. These contracts compel utilities in countries such as Indonesia and Vietnam to continue relying on coal, even when alternative sources like wind and solar are available. Data from the Powering Past Coal Alliance (PPCA), a coalition dedicated to phasing out coal, shows that between 50% to 100% of Southeast Asia's coal power capacity is locked into contracts averaging nine to eighteen years. This contractual rigidity stifles the region’s ability to accelerate renewable energy integration. The problem extends beyond Southeast Asia; major economies including China and India also maintain substantial long-term coal power agreements, often leading to underutilized renewable resources. Julia Skorupska, head of PPCA’s secretariat, noted, \"Many of these contracts are often ill-suited to the demands of a modern, renewables-integrated grid.\" Despite global trends, Southeast Asia’s coal reliance has grown from 35% to 45% of annual power generation over the past decade, while their clean energy adoption lags at 26% compared to the global average of 41%, according to analysis by the energy think tank Ember. Coal contracts provide guaranteed revenue streams for power plant operators and job security for workers, making early contract termination politically and economically challenging. Additionally, breaking these agreements can incur significant financial penalties. In China, coal power output increased by 7.3% in October despite a broader decline in carbon emissions driven by cleaner energy. Lauri Myllyvirta, lead analyst at the Centre for Research on Energy and Clean Air, expressed concern: \"We are witnessing a repeat of previous years where excess coal contracts resulted in solar and wind power curtailment.\" Similarly, in India and across the Asia-Pacific, renewable energy is increasingly being constrained because of entrenched coal commitments. Projections estimate China’s solar curtailment will affect over 5% in many provinces for the next decade. India continues to sign new long-term contracts with coal plants, even as it expands clean energy capacity. A joint report from Ember and Climate Trends highlights the financial risks tied to fixed payments for coal power amid growing renewable output. Shreya Jai, energy lead at Climate Trends, emphasized the need for change: \"Distribution companies must revamp their resource planning and introduce flexibility into power purchase contracts to accommodate renewable growth.\" The persistence of inflexible coal agreements poses a serious obstacle to Asia’s energy transition and global climate goals.
Economy
|2 min read

ICRC Announces 17% Budget Cut and 2,900 Job Reductions Amid Funding Challenges
The International Committee of the Red Cross (ICRC) revealed on Friday that it will reduce its 2026 budget by 17%, bringing it down to 1.8 billion Swiss francs (approximately $2.23 billion), and eliminate 2,900 positions. This announcement comes amid an unprecedented decline in humanitarian aid financing as donor nations intensify their defense spending amid ongoing global conflicts and escalating displacement. The cuts represent roughly 15% of the ICRC’s workforce of 18,500 employees worldwide and follow a series of austerity measures implemented in 2023. Approximately one-third of the reductions will be achieved through voluntary departures and by not refilling vacant roles. President Mirjana Spoljaric highlighted the difficult choices the organization faces, stating, \"The ICRC remains committed to working on the front lines of conflict, where few others can operate. But the financial reality is forcing us to make difficult decisions to ensure we can continue to deliver critical humanitarian assistance to those who need it most.\" The Geneva-based organization operates in over 90 countries, delivering a broad range of humanitarian services from basic aid distribution to prisoner visits. Acting as a neutral entity, the ICRC plays a crucial role in conflict zones, recently facilitating the transfer of hostages from Gaza and Palestinian detainees in accordance with the ceasefire agreed on October 10. The funding challenges coincide with a significant shift in U.S. foreign aid policies under the administration of President Donald Trump, which prioritizes \"America First\" strategies and reevaluates international assistance commitments. This adjustment by the world’s largest aid donor further compounds the funding difficulties faced by humanitarian agencies globally. The ICRC’s announcement underscores the growing strain on humanitarian organizations worldwide as they navigate reduced budgets amid increasing demand for relief amid persistent and emerging crises.
Economy
|2 min read