Silver BellsAs “Silver Bells” returns to the holiday playlist, the markets have taken the title literally. Like gold, silver benefits when investors look for “real assets” to protect purchasing power amid inflation concerns and geopolitical risk. And with the Fed cutting rates this year, the opportunity cost of holding non-yielding assets like gold and silver has fallen. The Silver Institute reports that industrial applications now consume 60 percent of annual silver supply, compared to roughly 10 percent for gold. Silver bells, silver bellsIt’s Christmas time in the cityRing-a-ling, hear them singSoon it will be Christmas dayString of street lights, even stop lightsBlink a bright red and greenAs the shoppers rush home with their treasuresPhilequity Management is the fund manager of the leading mutual funds in the Philippines.

Lessons from ThailandYes, we are all naturally upset from the home cooking in Thailand at the Southeast Asian Games. Thailand did a lot of things wrong. In over a dozen gold medal matches in boxing and taekwondo, only Annie Albania survived by knocking out her opponent. That is why our favorite memories from Thailand are of Alex Eala and Gilas Pilipinas. Others, like the next generation of volleyball players, are ready to step into the big shoes of their elders.

BOP gap narrows in NovemberMANILA, Philippines — The country’s balance of payments (BOP) deficit narrowed in November compared to a year ago as seasonal inflows and easing import payments helped temper external pressures, even as cumulative figures remained in the red. The BOP gap marked the biggest in six months or since the $298-million shortfall recorded in May. Prior to November, the country posted BOP surpluses for three consecutive months, helping narrow the cumulative deficit from $5.76 billion as of August. Rivera added that the BOP may remain volatile in the near term but could stabilize as seasonal imports ease and global financial conditions improve. “The widening cumulative BOP deficit reflects a timing and composition story rather than a sudden loss of external strength,” Roces said.

First Lady, China envoy meet amid West Philippine Sea tensionsFirst Lady Liza Marcos poses with Chinese Ambassador Jing Quan, Chinese embassy diplomats and leaders of the Filipino-Chinese community at the Laperal Mansion in Manila on Dec. 17. MANILA, Philippines — China’s new envoy met with First Lady Liza Marcos, days after President Marcos emphasized the importance of boosting ties between Manila and Beijing. The First Lady hosted a luncheon for Chinese Ambassador Jing Quan, Chinese embassy diplomats and leaders of the Filipino-Chinese community at the Laperal Mansion on Dec. 17. Photos of the event were posted on the Facebook accounts of the First Lady and the Chinese embassy in Manila. The luncheon was also held as fresh tensions gripped the West Philippine Sea over the Chinese coast guard’s actions against Filipino fishermen in Escoda Shoal.

Philippines to align trade policy with climate, development goalsMANILA, Philippines — The Philippines has launched a new initiative to align its trade policy with its climate and development goals, stressing that climate action must be fair and development-oriented to be effective and sustainable. Speaking at the high-level roundtable on Trade, Climate and Sustainable Development in Geneva, Environment Secretary Raphael Lotilla said trade, climate and development cannot be treated as separate tracks, particularly for a climate-vulnerable, middle-income country like the Philippines. He emphasized that international discussions on trade-related climate measures must respect the principles of common but differentiated responsibilities and respective capabilities under climate law, as well as special and differential treatment in trade law, to gain broad support among developing countries. “Trade policy, if designed well, can help the Philippines manage adjustment to new climate measures abroad, strengthen our own competitiveness and support a just energy transition at home,” Teehankee said. The initiative is being implemented in partnership with the University of the Philippines Law Center Institute of International Legal Studies and the Forum on Trade, Environment and the Sustainable Development Goals.

Fair weather, possible rain on Christmas Day seenMANILA, Philippines — Generally fair weather with chances of rain and thunderstorm may greet key areas in the country on Christmas Day, based on projections by the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA). Weather in Metro Manila, Baguio City, Clark Freeport and Economic Zone, Subic Bay Olongapo, Tagaytay City, Lipa City, Legazpi City, Puerto Princesa City and the Kalayaan Island Group may become “partly cloudy to at times cloudy with rain showers and/or thunderstorms,” according to the state weather bureau’s extended weather outlook. Similar weather conditions may prevail over Bacolod City, Iloilo City, Metro Cebu and Tacloban City in the Visayas. Cagayan de Oro City, Valencia City, Metro Davao and Zamboanga City in Mindanao may experience the same conditions. Metro Manila and the rest of the country may expect generally fair weather with chances of rain showers or thunder storm due to the easterlies.

Another way to lose moneyNext week, after Christmas, my wife Beng and I are flying to a southern city – I won’t say yet exactly where – for a short break from the stresses of the season. Even before the pandemic, the country lagged regional peers in foreign arrivals – 8.2 million foreign visitors – well below Indonesia’s 16 million, Malaysia’s 26 million, Thailand’s 40 million and Singapore’s 15 million. Moreover, foreign tourists remain concentrated in a few destinations: the National Capital Region and Central Visayas (home to Cebu) account for over 60 percent of total foreign overnight stays. Then come the fees: ‘local support’ fee, environmental fee, parking fee, toilet fee, shower fee... That’s why some foreigners call it Feelippines. Now we need BBM to treat this like flood control: another way to lose a lot of money aside from thievery is not to make it when we very well could.

‘Cabral left complete list of budget insertions’MANILA, Philippines — The late Department of Public Works and Highways undersecretary Maria Catalina Cabral left behind a “complete list” of budget insertions for DPWH flood control projects, a neophyte congressman said yesterday. Batangas first district Rep. Leandro Leviste said Cabral gave him the files on the budget insertions, which he was willing to release. “The late undersecretary Cabral gave me files of DPWH insertions of the whole country, thanks to Secretary Vince (Dizon of DPWH). “(Former) undersecretary Cabral knows more than (former) undersecretary (Roberto) Bernardo. The files, before the computers were discovered to be empty and in shambles, were with undersecretary Cabral.

PNP focuses on securing evidence in Cabral’s deathThe Philippine National Police Forensic Group is on site at Kennon Road in Benguet to continue investigating the circumstances surrounding former Department of Public Works and Highways (DPWH) undersecretary Maria Catalina "Cathy" Cabral's death. MANILA, Philippines — The Philippine National Police has now shifted its focus to checking and securing evidence linked to the death of former Department of Public Works and Highways undersecretary Maria Catalina Cabral. He said Cabral’s driver is being questioned as part of the investigation, along with other measures to determine what transpired before her death. While acknowledging the sensitivity of the case for Cabral’s family, Nartatez said securing possible evidence in her possession is necessary due to strong public interest. The NBI said the search warrant authorized agents to seize records and other items that could help shed light on Cabral’s death.

‘3 quakes, 2 typhoons killed 370 in PhilippinesRescuers pull an inflatable boat transporting residents during a forced evacuation at a village in Tuguegarao City, Cagayan on November 11, 2025 as homes remained inundated due to heavy rains brought by Super Typhoon Uwan. MANILA, Philippines — Three strong earthquakes and two devastating typhoons claimed the lives of around 370 people in the Philippines, mostly in Cebu, since September this year. Flash floods, landslides and damaged infrastructure injured and displaced hundreds of Filipinos and their families. Ten days later on Oct. 10, two powerful quakes hit Manay, Davao Oriental and nearby provinces, claiming eight lives. Tino had injured around 502 people and damaged 312,650 houses in Mimaropa, Negros, Western Visayas, Central Visayas, Eastern Visayas, Northern Mindanao and Caraga.

Senate, House to sign bicam report on budget todayThe bicameral conference committee holds its first-ever livestreamed deliberations for the 2026 national budget on Tuesday, Dec. 16, 2025. Meanwhile, Senate finance committee chair Sherwin Gatchalian and his House counterpart, appropriations chair Mikaela Suansing believe Marcos won’t veto the proposed 2026 budget. The Senate and the House of Representatives contingents are to resume sessions today after previously being in a deadlock over the 2026 budget of the Department of Public Works and Highways. ‘No reenacted budget for 2026’Following the bicam’s approval of the proposed 2026 national budget last week, fears of a reenacted budget for next year have been put to rest. Suansing rejected suggestions that the outcome of the bicam reflected concessions between the House and the Senate, stressing that discussions focused on producing a credible and accountable national budget.

Antipolo lawmaker Acop, ex-quad comm member, 78MANILA, Philippines — Antipolo Rep. Romeo Acop passed away yesterday at a hospital in Antipolo City. He is the perfect example of one who has integrity in public service,” Speaker Faustino Dy III said. Acop served in the Philippine National Police for decades and rose to the rank of two-star general before resigning in January 2001. Former House speaker Martin Romualdez, under whose leadership Acop served as a panel chairman, paid tribute. Bicol Saro party-list Rep. Terry Ridon vowed to continue the legacy of his co-chair in the 20th Congress’ quad committee.

The United States Congress has approved $2.5 billion (roughly P146 billion) in new security assistance for the Philippines, locking in Washington's multi-year military funding for Manila at a time of flaring tensions in the South China Sea and the broader Indo-Pacific region.

Use ‘Pinggang Pinoy’ in preparing holiday meals, families urgedThe Department of Health is urging the public to celebrate Christmas safely by choosing healthy food and following the “Pinggang Pinoy” guide. MANILA, Philippines — The National Nutrition Council (NNC) is urging Filipino families to use the “Pinggang Pinoy” as a guide when preparing meals for the holiday season. “With Pinggang Pinoy, the greener your plate is, the better. The more vegetables, the better,” NNC Regional Nutrition Program coordinator Eileen Blanco said in a radio interview Saturday. The Pinggang Pinoy, developed by the Department of Science and Technology, serves as a visual guide to a balanced meal.

DPWH execs behind overpricing face sanctionsMANILA, Philippines — Public Works Secretary Vince Dizon vowed sanctions against Department of Public Works and Highways (DPWH) regional directors and district engineers who enforced the systematized overprice of construction materials and infrastructure projects. Dizon said that they have already centralized the CMPD setting process, with the Approved Budget Cost for procurement or bidding processes given to the DPWH Technical Services. “In the central office, it’s the office of Undersecretary Lara Marisse Esquibil that is going down (to the regional and district level to set the CMPD). We are not entrusting the canvassing to the regional and district offices,” Dizon said. Dizon recently posted that DPWH needs to hire more engineers after the scandalous DPWH ghost projects.