Philippines Addresses New 19% US Tariff While Seeking Trade Balance

Trade Secretary Cristina Roque confirmed that the United States’ announced 19-percent tariff on Philippine exports, slated to begin on August 1, is currently "final." However, she emphasized that the Philippines continues to advocate for a potential reduction in the tariff rate. The 19% levy marks a decrease from the initial 20 percent proposal but remains above the 17 percent rate discussed earlier this year in April. Roque told reporters on July 25, "Since it was already announced by President Trump, then it’s final. But of course, we’re really hoping we can bring it down." She also shared that trade officials from both countries are actively working out specifics on the implementation of the tariff. Looking ahead, Roque revealed that Manila is exploring future free trade agreement possibilities with the US. Nevertheless, she stressed that the Philippines will not compromise protections for sensitive industries solely for minimal tariff relief. While Philippine exports will be subject to the new 19-percent duty, several US imports—including medical devices, automotive goods, and soybeans—will enter the Philippines duty-free. Roque highlighted that the Philippines refrained from making agricultural concessions to protect local farmers, as "it’s not commensurate to what we’re going to lose." Comparing the stance with neighboring Indonesia, which reportedly reduced an initial 32-percent tariff to 19 percent but opened its entire market to US imports, Roque emphasized, "Sa kanila they gave all. Us, we did not." The Federation of Philippine Industries (FPI) welcomed the measured approach. FPI Chair Elizabeth Lee described it as "a strong step toward protecting our own industries," noting that zero tariffs on inputs not produced domestically could help reduce costs "without putting local producers at risk," provided it is effectively managed. Roque underscored the importance of continuous engagement with industry stakeholders and transparent communication regarding tariff coverage. These measures, she stated, will enable the government to "timely activate appropriate safeguard mechanisms for sectors at risk." She concluded, "At the end of the day, we all want growth, but it has to be balanced, fair, and locally anchored."

PNP Chief to Proceed with Charity Boxing Match Amid Uncertainty Over Duterte's Participation

Philippine National Police (PNP) Chief Gen. Nicolas Torre III is set to participate in a charity boxing match at the Rizal Memorial Coliseum today, regardless of whether his opponent, acting Davao City Mayor Sebastian “Baste” Duterte, appears. According to PNP spokesperson Brig. Gen. Jean Fajardo, all preparations, including the boxing ring setup and safety protocols coordinated with the Games and Amusement Board, have been finalized. "As the PNP chief has stated, while he remains committed to his duties, he will be present at the Rizal Coliseum this Sunday," Fajardo said during a radio interview. The event stemmed from a podcast exchange where Duterte challenged Torre to a fistfight, which the latter accepted and transformed into a charity match to benefit victims of recent severe flooding caused by multiple weather disturbances that displaced thousands. "Whether or not Mayor Baste attends, our Chief PNP will honor the commitment. He views this challenge as an opportunity to assist our countrymen affected by the floods," Fajardo added. The match's outcome is uncertain following reports of Duterte's departure to Singapore last Friday. Nevertheless, Torre remains hopeful. "Numerous sponsors have pledged support, and regardless of the outcome, the assistance program will proceed," Fajardo confirmed. In support of the main event, police boxing teams will also compete in undercard bouts to engage attendees and boost fundraising efforts. At 54 years old, Torre has been refreshing his boxing skills, reflecting on his training at the PNP Academy. "This is not about physical strength but credibility. When faced with a challenge, I recognized a chance to help," he stated.

Shuvee Etrata Open to Collaborating with TDH Anthony Constantino Amid Rising Popularity

MANILA, Philippines — Shuvee Etrata, known for her stint on "Pinoy Big Brother Celebrity Collab Edition," revealed her enthusiasm for seizing all upcoming opportunities, including potential projects alongside her so-called TDH, Anthony Constantino. During a press conference held by their talent agency Sparkle on July 18 in Quezon City, Etrata playfully responded to inquiries about working with Constantino, who captured online attention when he picked her up after her eviction in June. Netizens were captivated by Constantino, describing him as the embodiment of the ideal "tall, dark, and handsome" figure. "There are indeed many TDHs in this world, so if a job opportunity arises, why not? We have to make the most of it while we're here," Shuvee said. She emphasized that as long as collaborations remain genuine and respectful, she is open to working with any TDH. "Whoever you are, TDH or not, let’s work together," she added with a smile. Though Shuvee did not make it to this season’s Big 4, her popularity soared throughout the show. She is among the few housemates, including some finalists, to surpass one million followers on Instagram by the end of the season. With this surge in social media presence, Shuvee acknowledged the added responsibility it entails. "I’m aware many followers have come in, and more than that, I feel a greater obligation to promote awareness and to conduct myself properly. It’s quite daunting since everything I do is seen by many. I aim to be more mindful and sensitive, especially because what I say matters," she explained. Continuing to express gratitude for the overwhelming support post-"PBB," Shuvee hopes the public will maintain their encouragement not only for her but also for her fellow housemates moving forward. "I’m truly thankful and hope everyone keeps supporting us even after the season ends," she concluded. Category: 4bd22fae-630c-458f-b39d-7c26a29a290e

Carlo Biado Clinches Historic Second World Pool Championship Title for the Philippines

In a thrilling finale early Sunday morning (Manila time), Filipino cueist Carlo Biado won his second World Pool Championship title, defeating reigning champion Fedor Gorst 15-13. Biado's victory marks a historic moment as he becomes the first Filipino to claim the prestigious 9-ball championship twice, having previously won in 2017. The match began with Gorst taking an early lead, winning the first two racks. However, Biado, known as "The Black Tiger," staged an impressive comeback by securing nine consecutive racks to lead 9-2. Gorst fought back fiercely, leveling the score at 9-all, but Biado regained control, pushing ahead to 13-9. Gorst responded once more, tying the match at 13-all. The decisive 27th rack saw a critical error from Gorst—a costly scratch—that gave Biado a 14-13 advantage. Maintaining composure under pressure, Biado pocketed the final 9-ball in the 28th rack, sealing his victory amid jubilant celebrations. Expressing his elation after the win, Biado stated, \"I\'m over the moon — I still can\'t believe I\'m a two-time World Champion. It means everything to me. I\'m so proud to bring this trophy home to the Philippines.\" He also acknowledged the challenge posed by Gorst: \"This final is something I\'ll remember forever. Fedor is one of the best in the world — when I was leading 9-2, I still couldn\'t relax because he\'s a monster on the table. But today, I stayed focused, stayed calm, and maybe had a little luck on my side too.\" Biado joins an elite group of Filipino champions including Efren "Bata" Reyes, Ronnie Alcano, and Django Bustamante, who have all previously won the World Pool Championship. His victory not only highlights his skill and determination but also solidifies the Philippines' enduring legacy in the sport.

US Imposes New Tariffs Amid Trade Talks Deadline, Markets React Cautiously

Asian equity markets retreated on Friday, August 1, following the US administration's announcement of heightened tariffs on imports from various trading partners. Investors remain on edge ahead of key US employment figures, which are expected to influence Federal Reserve decisions on interest rate adjustments next month. President Donald Trump signed an executive order late Thursday, imposing tariffs ranging between 10% and 41% on imports from numerous countries and regions. Notably, the US set tariffs at 25% for Indian exports, 20% for Taiwanese goods, 19% for Thai products, and 15% for South Korean items. Additionally, duties on Canadian products not covered by the US-Mexico-Canada Agreement climbed to 35% from the previous 25%, while Mexico received a 90-day exemption to negotiate a broader trade deal. Taiwanese President Lai Ching-te described the 20% tariff rate on Taiwanese exports as "temporary," anticipating reductions once trade negotiations progress. Tony Sycamore, an analyst at IG, commented, "Market reactions have been relatively muted due to recent trade agreements with the EU, Japan, and South Korea that have helped soften the blow. Investors likely expect these tariffs to be renegotiated and potentially lowered over time." Following the tariff announcement, MSCI's broadest index of Asia-Pacific shares outside Japan declined by 0.7%, extending its weekly loss to 1.8%. South Korea's KOSPI experienced a steep 3% drop, and Taiwanese shares fell by 0.9%. Japan's Nikkei decreased by 0.4%, while Chinese blue chips remained steady, and Hong Kong's Hang Seng index edged up 0.2%. European futures also dipped slightly, with EUROSTOXX 50 futures down 0.2%. US futures for the Nasdaq and S&P 500 similarly eased by 0.2%, pressured after Amazon's earnings missed expectations, causing a 6.6% after-hours decline in its shares. Conversely, Apple exceeded revenue forecasts, buoyed by early iPhone sales ahead of tariffs, resulting in a 2.4% after-hours share gain. Wall Street's overnight rally faltered as inflation data revealed price increases in June, partly driven by tariff-induced costs. Meanwhile, stable weekly jobless claims pointed to a resilient labor market. These developments dampened expectations for an imminent Federal Reserve rate cut, with futures now pricing a 39% probability of a reduction in September, down from 65% prior to the Fed's decision to hold rates steady. Market focus now turns to the US jobs report expected later today. Analysts forecast a 110,000 increase in July payrolls and a rise in unemployment to 4.2% from 4.1%. Stronger-than-expected data could undermine the case for rate cuts next month. The US dollar has strengthened considerably amid diminished rate cut prospects, with the dollar index climbing 2.5% this week to 100.1, marking its largest weekly gain since late 2022. The Canadian dollar remained subdued, touching a 10-week low after earlier declines of about 1% this week. The Japanese yen weakened sharply overnight, with the dollar gaining 0.8% to reach 150.7 yen — its highest level since March. This movement followed the Bank of Japan's decision to maintain current interest rates and revise upward its near-term inflation outlook, although Governor Kazuo Ueda adopted a cautious stance. US Treasury yields were mostly stable, with the benchmark 10-year yield edging up by one basis point to 4.374%, rebounding slightly after a minor decline the previous day. In commodity markets, oil prices steadied following a 1% drop overnight. US crude rose 0.1% to $69.36 per barrel, and Brent crude increased 0.2% to $71.84 per barrel. Gold prices dipped marginally, trading around $1,286 an ounce.

SEC Chair Paul Atkins Proposes Comprehensive Crypto Regulatory Reform Under "Project Crypto"

The Chair of the U.S. Securities and Exchange Commission (SEC), Paul Atkins, revealed an ambitious plan on Thursday to revamp capital market regulations to better accommodate cryptocurrencies and blockchain technology. This move is viewed as a significant victory for the digital asset industry, which has long advocated for tailored regulatory frameworks. Speaking at the America First Policy Institute in Washington, Atkins announced that he has tasked SEC staff with developing clear guidelines to define when a cryptocurrency token qualifies as a security. The proposals will also include new disclosure requirements and exemptions aimed at facilitating the growth of digital assets. In addition, Atkins highlighted efforts to collaborate with companies seeking to issue tokenized securities — blockchain-based representations of stocks or funds — which have garnered increasing interest among prominent crypto industry participants. "This represents more than a regulatory shift — it is a generational opportunity," Atkins stated, underscoring the transformative potential of his plans. The regulatory overhaul coincides with recent appeals from a Trump-led cryptocurrency working group, urging the SEC to establish specific digital asset regulations. A White House report released just a day prior called on both the SEC and Commodity Futures Trading Commission (CFTC) to swiftly enable federal trading of digital assets using existing authorities. During his 2023 campaign, former President Donald Trump positioned himself as a "crypto president," promoting digital asset adoption, which contrasts with the stricter enforcement measures enacted under the Biden administration. The latter initiated lawsuits against major cryptocurrency exchanges such as Coinbase and Binance for allegedly breaching U.S. securities laws. These cases have since been dropped under the current SEC leadership. Atkins, who has experience working with crypto firms, introduced the regulatory initiative "Project Crypto," designed to modernize securities regulation comprehensively. The project aims to quickly implement the White House’s recent recommendations, including an "innovation" exemption to foster new business models within the crypto space and guidance for classifying digital assets as commodities. He emphasized crafting "clear and simple rules" regarding crypto distributions, custody, and trading. Pending formal rule adoption, the SEC intends to use interpretative and exemptive powers to offer regulatory flexibility to crypto issuers and trading platforms. Dispelling fears from the industry, Atkins confirmed that most cryptocurrencies would not be classified as securities, alleviating requirements for registration and certain disclosures. However, he acknowledged the need to develop a framework allowing securities-designated crypto assets to be traded alongside non-security tokens. The SEC Chair’s comprehensive agenda aligns closely with the crypto sector’s long-standing demands, which include regulatory clarity on the classification of tokens such as securities, commodities, and stablecoins. Notably, Trump's support for cryptocurrencies has raised conflict-of-interest concerns, given his family’s involvement in cryptocurrency meme coins and his stake in a crypto platform. The White House has dismissed these allegations. Atkins’ initiatives mark a pivotal departure from past regulatory approaches, potentially heralding a new era of integration between digital assets and conventional financial markets.

Justin Timberlake Reveals Struggle with Lyme Disease Amid Tour Reflections

LOS ANGELES, California — Pop icon Justin Timberlake opened up to fans on Thursday about his recent diagnosis of Lyme disease, a condition he characterized as "relentlessly debilitating." The 44-year-old artist, who recently concluded his global tour, shared his thoughts and health revelations in an Instagram post. He reflected on the demanding nature of the tour, calling it "the most fun, emotional, gratifying, physically demanding, and, at times, grueling experience." Timberlake explained, "Among other things, I've been battling some health issues, and was diagnosed with Lyme disease — which I don't say so you feel bad for me — but to shed some light on what I've been up against behind the scenes." He further detailed the impact of the disease, stating, "Living with this can be relentlessly debilitating, both mentally and physically. When I first got the diagnosis I was shocked for sure. But, at least I could understand why I would be onstage and in a massive amount of nerve pain or just feeling crazy fatigue or sickness." Lyme disease, caused by a bacteria transmitted through tick bites common in wooded areas across North America and Europe, manifests symptoms such as widespread pain, fatigue, and muscle weakness. In severe cases, it can cause damage to tissues, joints, and the immune system. The singer known for hits like "Can't Stop The Feeling" recently faced legal issues after a 2023 drunk driving arrest near New York. He later pleaded guilty to a lesser charge, receiving community service. Timberlake's earlier relationship with Britney Spears partly inspired his 2002 hit "Cry Me A River."

Memphis Grizzlies and Orlando Magic to Play Regular-Season NBA Games in Europe

The NBA has announced that the Memphis Grizzlies and Orlando Magic will compete in two regular-season games in Europe this winter. The teams will play at the Mercedes-Benz Arena (commonly known as the Uber Arena) in Berlin on January 15, followed by a matchup at The O2 in London on January 18. The Berlin game will be historic as the NBA’s first-ever regular-season contest held in Germany, while the London fixture will mark the 10th regular-season game staged in England’s capital. Looking ahead, the league revealed plans for additional European regular-season games in upcoming years: matches are scheduled for Manchester and Paris in 2027, with Berlin and Paris hosting games again in 2028. Specific dates and teams for those future games will be provided at a later time. George Aivazoglou, the NBA’s managing director for Europe and the Middle East, commented on the announcement: "Announcing the next three seasons’ regular-season games in Europe reflects the incredible momentum and appetite for NBA basketball in France, Germany, the UK, and across the region. We look forward to welcoming the Grizzlies and the Magic to Berlin and London and to engaging fans, players, and the local communities through the games and the surrounding events." For the Memphis Grizzlies, these will be their fifth and sixth appearances in Europe, marking their debut games in Berlin and London. The Orlando Magic will be making their fourth and fifth trips to Europe, with their first game in Berlin and third in London. Jason Wexler, president of the Grizzlies, expressed enthusiasm about the opportunity, stating, "We appreciate the chance to represent the NBA and the city of Memphis and state of Tennessee on an international stage in Berlin and London. We are excited for fans worldwide to see the talents of the Memphis Grizzlies on full display." Adding a personal note, German players on the Magic roster—brothers Franz and Moritz Wagner, along with Germany-born forward Tristan da Silva—shared their excitement. In a statement, the Wagner brothers said, "To have the Orlando Magic and the NBA play a regular-season game in our hometown of Berlin means everything to us. Growing up here, we dreamed of moments like this. It's a huge honor to represent Berlin and Germany and show how much the city and country love basketball. We hope we can inspire kids the way we were inspired watching games from afar."

SM Prime to Raise Up to ₱20 Billion in Bonds to Fuel Expansion Plans

SM Prime Holdings Inc., the nation’s foremost mall operator and the real estate arm of the Sy family, announced plans to raise up to ₱20 billion via a retail bond issuance in the fourth quarter. This move is intended to refinance existing debt and finance the company’s ambitious expansion agenda. During a recent press briefing, Chief Financial Officer John Nam Peng Ong detailed that the bond sale, which is projected to range between ₱15 billion and ₱20 billion, will provide the company with enhanced financial flexibility while managing its liabilities. This capital-raising effort comes as SM Prime steps up its expansion efforts to uphold its leadership in the highly competitive real estate market, facing strong rivals such as Ayala Land Inc. and Robinsons Land Corp., which are also advancing their commercial, residential, and hospitality developments. SM Prime currently operates 88 shopping malls nationwide and boasts a diversified asset portfolio including hotels, office buildings, and convention centers. The company has outlined plans to open 10 to 15 additional shopping centers in strategic locations over the next five years, further cementing its retail market dominance. Moreover, SM Prime is advancing five major integrated property projects, notably a 360-hectare reclamation initiative along Manila Bay. This multi-billion peso development is set to transform Metro Manila's urban landscape significantly. Despite global economic uncertainties and inflation challenges, SM Prime remains optimistic about the sustained demand for real estate assets across its diverse sectors. The company cites ongoing urbanization, a robust local economy, and increasing consumer activity as drivers of growth for its malls, offices, and mixed-use complexes. "We continue to believe in the long-term prospects of the Philippine property market," said Ong, emphasizing the company’s confidence in its strategic investments despite challenging external conditions.

Liberal Lawmakers Push for Institutionalized Freedom of Information Act

Lawmakers affiliated with the Liberal Party have collectively filed a new measure to institutionalize the Freedom of Information (FOI) Act, aiming to enhance public access to government information, including the Statements of Assets, Liabilities, and Net Worth (SALNs) of public officials. House Deputy Minority Leader and Makabayan party-list Representative Leila De Lima highlighted the need for the legislation, citing gaps in the execution of the previous administration's Executive Order 2, and the absence of a mandatory disclosure policy across government agencies. She stated, \"This proposal is a powerful tool against corruption, misinformation, and the lack of honesty and accountability in government.\" The proposed People’s Freedom of Information Act of 2025 (House Bill 2897) was authored by a group of representatives including Edgar Erice (Caloocan City), Adrian Michael Amatong (Zamboanga del Norte), Arlene Bag-ao (Dinagat Islands), Jaime Fresnedi (Muntinlupa City), Cielo Krisel Lagman (Albay), and Alfonso Umali Jr. (Oriental Mindoro). Under HB 2897, all Filipino citizens have the right to request and be granted access to any records managed by government agencies. The bill requires government bodies and public officials to disclose all information related to official acts, transactions, decisions, and government research data used for policy-making. These records must be available for inspection, copying, and reproduction. However, the legislation exempts certain categories from public access, including information affecting national security, foreign relations, defense, law enforcement procedures, trade secrets, and matters concerning personal privacy or other legally protected rights. An additional provision mandates that government agency websites publish a record of the requests received, their status updates, and resolution outcomes. Once a piece of information is released to one requester, it should become accessible to the general public. De Lima emphasized, \"Honesty and accountability must be the standard operating procedures in government. Public office is public trust. Nothing should be hidden from the people, who are the true source of governmental authority.\" The bill sets penalties for non-compliance, including imprisonment ranging from one to six years and fines between ₱100,000 and ₱1 million.