Hello PW Readers!

Marks & Spencer is closing after 40 years in the Philippines. But while one retail era ends, another opportunity is exploding. Ube is heading toward a $1B global market, yet we earn only a fraction from it. Add IPO plans, EV growth, and EDSA at 40. Here’s your smart briefing.

Stay sharp.

End of a retail era

The exit
After nearly four decades in local malls, Marks & Spencer will close all its Philippine stores by May 2, 2026. Its local operator, SSI Group Inc. said the move ends a long-running partnership and reflects a strategic reset. (Read it on

Zoom out
SSI cited shifting consumer behavior and a tougher retail climate. Fast fashion and e-commerce continue to take share, while discretionary spending has softened. For the first nine months of 2025, SSI’s net income dropped nearly 50% to ₱733 million, pressured by higher costs and slower demand for mid-to-upscale brands.

What now
M&S currently operates around 13 stores nationwide. SSI said it will work closely with employees and partners to ensure an orderly transition. More details on promotions, timelines, and customer advisories are expected before the May 2026 closure.

The boom
Ube is no longer just halaya and kakanin. The global ube market was valued at $455.3M in 2024 and is projected to reach $943.6M by 2035, growing 6.9% annually. It is now in ice cream, lattes, cookies, yogurt, and “superfood” snacks. Asia-Pacific holds about 75% of the market, but growth is accelerating abroad.

The gap
In 2025, the Philippines earned about $3.06M or roughly ₱174M from ube exports. That is a tiny slice of a market heading toward $1B. Most exports are raw roots or basic processed forms, while branding and retail margins happen overseas.

The risk
Foreign brands market ube as a trendy purple flavor, rarely highlighting its Filipino roots. Without scaling production, processing, and origin branding, the Philippines risks becoming a supplier, not the owner, of its own story.

Philex Mining Corp. posted a 14.75 percent rise in 2025 net income to ₱929.69 million as stronger gold and copper prices offset lower output. Revenues climbed 8.21 percent to ₱8.85 billion, while the Silangan Project targets first metal pour by end first quarter.

Lazada Philippines is shifting from discount-led sales to a trust-driven strategy for its March 3.3 campaign, running March 2 to 5. CEO Carlo O. Barera said the platform will highlight authentic products, secure payments, reliable delivery, and better rewards to build long-term shopper confidence in e-commerce.

Philippine vehicle sales fell 10 percent in January to 33,696 units, but the industry said it is still on track to hit its 500,000 target this 2026. Electric vehicle sales rose 63 percent to 2,610 units, now making up 7.75 percent of total sales, led mainly by hybrids.

Fintech firm Maya plans a dual listing starting in the US before a Philippine IPO in late 2026, chair Manuel V. Pangilinan said, vowing PLDT and First Pacific will keep their 39 percent stake. The company earned ₱1.6 billion in 2025 as loans hit ₱27 billion and deposits reached ₱56.7 billion.

Hollywood stars Priyanka Chopra Jonas and Karl Urban praised Filipino stunt coordinator Rob Alonzo for creating the action scenes in The Bluff, now streaming on Prime Video.(Read More)

Wendell Ramos made the winning free throw as the Blue Team beat the White Team 60-59 at the MVPO 2026 All-Star Game at Araneta Coliseum, featuring celebrity players and performers. (Read more)

Gilas Pilipinas named its Final 12 for the 2027 FIBA World Cup Asian Qualifiers, including Juan Gomez de Liaño, ahead of home games against New Zealand and Australia at Mall of Asia Arena. (Read More)

The Department of Information and Communications Technology Secretary Henry Aguda is considering banning Telegram over alleged links to pornography and scams, citing child protection and national security concerns. (Read More)

The Philippines is exploring deeper AI cooperation with India, including a proposed “Bangalore-Clark AI Tech and Economic Corridor,” according to DICT Secretary Henry Aguda. Both sides are also studying potential spillover from India’s AI and BPO sectors. Talks remain ongoing as Manila formalizes its National AI Infrastructure Masterplan. (Read More)

Scientists developed a tiny photonic chip that turns one laser color into three new colors without extra adjustments. The breakthrough could help improve quantum computers and tools that measure time and frequency.(Read more)

Court records reveal Facebook designed a teen-focused app called Bell in 2018 that would let high school students chat within their schools. The app aimed to attract teens to Facebook’s platforms but was never launched. (Read more)

A study shows Mount Pinatubo, Australian wildfires, and Hunga Tonga eruption changed stratosphere temperatures, but recent surface warming is mostly due to human-driven climate change.

For the first time, researchers recorded faint electrical discharges called coronae on treetops during thunderstorms, which may damage leaves and influence tree evolution along the U.S. East Coast.

Japan Approves First Stem Cell Therapies for Parkinson’s and Heart Failure

Japan granted conditional approval for iPS stem cell therapies AmShpre and ReHeart, treating Parkinson’s disease and severe heart failure, with long-term safety and efficacy to be monitored over seven years

Lost Fossils Reveal Early Sea Monsters After Earth’s Greatest Extinction

Rediscovered 250-million-year-old fossils in Western Australia show diverse marine amphibians, including Erythrobatrachus and Aphaneramma, that dominated oceans and spread globally after the end-Permian mass extinction.

GCash now lets users request PSA birth and marriage certificates directly through the app, expanding digital access to civil registry services. (Read more)

BOC sells three more Discaya luxury cars for P25.7 million at auction, with proceeds to fund government projects through the Treasury. (Read more)

Teachers’ group urges deeper, evidence-based Philippine history lessons in high school as the nation marks 40 years since the EDSA revolution.(Read more)

Progressive groups mark EDSA’s 40th year with calls to end political dynasties, amid rallies, police deployment, and one arrest. (Read more)

House panel approves bill to abolish travel tax, emphasizing need for alternative funding to support TIEZA, CHED, and NCCA programs. (Read more)

Japan plans to place surface-to-air missiles on Yonaguni Island near Taiwan by 2031. The move aims to strengthen defense amid rising tensions with China over Taiwan.

Thai officials say 72 tigers at two tourist parks in Chiang Mai died from canine distemper, a virus that does not infect humans. Authorities are monitoring people who had contact with the animals.

Many young Americans are adopting Chinese-inspired habits and fashion online, a trend called “Chinamaxxing.” Experts say this reflects growing interest in Chinese culture and boosts China’s soft power globally.

📝Protesters break EDSA blockade on People Power Day. (Watch)

📝 Two Palawan leopard kittens rescued in Roxas.

📝 Activists display a photo of former Prince Andrew in the Louvre.

📝 Tomatoes were thrown out on Nueva Vizcaya roads as prices drop to ₱10-₱20 per kilo in Dagupan. (Watch)

Tech & Security