Good morning. It’s Tuesday, Sept 16.

We hope this issue finds you in good health. With everything happening in the country today, it’s easy to feel that things are hopeless. But like every season, this too is just a phase and we believe the challenges our nation faces will pass. What matters is that all of us play a part in pushing for truth, accountability, and a better future. If you want faster updates, you can always follow us on Instagram and Facebook. On IG alone, we’re reaching over 50 million views every month, with 1–2k new subscribers joining us daily. It’s a testament to the quality of work we do and the hunger Filipinos have for sharp, fact-based content.

We’re also slowly building a stronger team of writers and journalists. In the near future, you can expect PesoWeekly newsletter issues to be more regular, with even greater depth and value. For now, we’re focused on getting the setup right because you deserve news that is both smart and reliable.

Got ideas or feedback? Email us anytime at [email protected].

Stay sharp,
Team PesoWeekly

Join nearly 20,000 smart, curious Filipinos who stay sharp with the news that matters.
📩 Sign up here.

The scandal
President Ferdinand Marcos Jr. has declared an “inflection point” in governance as he confronts alleged anomalies in infrastructure spending, particularly ₱545 billion poured into flood control since 2022. Congressional hearings revealed ghost projects and a handful of contractors cornering massive shares of the budget. The president has since canceled all flood control projects for 2026, promising to divert funds toward education, health, and agriculture.

The commission
To lead the probe, Marcos appointed retired Supreme Court Justice Andres Reyes Jr. as chair of the Independent Commission for Infrastructure (ICI). He will work alongside former DPWH Secretary Rogelio Singson, SGV partner Rossana Fajardo, and Baguio Mayor Benjamin Magalong. The ICI will:

The stakes
Civil society groups and church leaders are planning mass protests on September 21, coinciding with the anniversary of Martial Law. Marcos, son of the late dictator, admitted, “If I weren’t president, I might be out in the streets with them.” By vowing that “no one will be spared,” Marcos raises expectations that this probe will deliver real accountability—something past inquiries rarely achieved.

PSEi: 6,057.43
BSP Rates: 5.00% (borrowing) | 5.50% (deposit) | 4.50% (lending)
🌐 Global Markets
Bitcoin: $115,489
Gold: $3,680.20

💱 Exchange Rates (PHP per 1 unit)

🇺🇸 USD: ₱57.17
🇬🇧 GBP: ₱77.81
🇸🇦 SAR: ₱15.29
🇯🇵 JPY: ₱0.3889
🇪🇺 EUR: ₱66.82
Note: Exchange rates may vary slightly depending on provider.

Foreign companies can now register in the Philippines in just one day, after the Securities and Exchange Commission (SEC) expanded its OneSEC “Zuper Easy Registration Online” platform. The move, aimed at boosting ease of doing business, lets firms with foreign equity incorporate quickly using pre-filled online forms. SEC Chairperson Francisco Ed. Lim said the change signals that the country is open to global investors. OneSEC, launched in 2021, can process applications in as little as 74 seconds. With 145 foreign firms already registered in early 2025, the SEC expects the faster system to drive more incorporations.

Pag-IBIG Fund will roll out a special 4.5% housing loan rate starting October for qualified members buying homes worth up to ₱1.8 million, under the Marcos administration’s 4PH program. The first 10,000 locally employed borrowers and 1,000 OFWs will enjoy the discounted rate, fixed for three years, compared to the usual 6.25%. Eligible applications already in the pipeline will also be covered. Pag-IBIG estimates members could save nearly ₱2,000 monthly, or about ₱71,000 in three years, on a ₱1.8M loan. Officials say the move expands affordable housing access and supports the government’s push for wider homeownership.

Agriculture Secretary Francisco Tiu Laurel Jr. asked Congress to fully approve the Department of Agriculture’s ₱176.7-billion budget for 2026, saying it will fund long-overdue investments in food production. He stressed that farmers and fisherfolk, who make up one in five workers nationwide, remain among the poorest due to lack of technology, markets, and financing. The budget would go to irrigation, quality seeds, fertilizer, modern machinery, post-harvest facilities, and digital tools. It also covers logistics, cold storage, farm-to-market roads, crop insurance, and credit access—all aimed at making food more affordable while ensuring farmers live with dignity.

SM Prime has raised $350 million from a five-year debt note issuance, nearly three times oversubscribed, marking its first U.S. dollar-denominated offering. The notes, carrying a 4.75% coupon, will list on the Singapore Exchange under SM Prime’s $3 billion Euro Medium-Term Note program. Executives said proceeds will fund corporate needs and part of the company’s ₱100 billion capex plan for 2025, which includes new malls and residential projects. The strong demand, led by Asian fund managers, reflects investor confidence after SMPH posted record ₱140 billion revenues in 2024. Shares rose 1.27% to ₱24 following the announcement.

Coca-Cola and the Aboitiz Group are teaming up to build a 42-hectare manufacturing plant in Tarlac City, set to be the beverage giant’s largest facility in Luzon and one of its biggest globally. The project, located inside Aboitiz InfraCapital’s TARI Estate, is expected to create hundreds of local jobs and boost Central Luzon’s industrial growth. Executives say the investment cements their partnership and signals confidence in the region’s role as a new economic hub. The site’s strategic location near major expressways and ports makes it a key player in driving both local development and national GDP growth.

Asia’s Favorites
Japan remains a perennial go-to for Filipinos, offering a mix of tradition and modern life — think cherry blossoms, ramen, and a streamlined visa process. South Korea follows closely, drawing travelers with K-pop culture, vibrant shopping districts, and scenic landscapes. Easier visas and direct flights to Seoul and Busan have only made it more accessible.

Visa-Free and Budget-Friendly
For quick escapes, Thailand and Singapore top the list.

Beyond Asia
The United Arab Emirates, particularly Dubai and Abu Dhabi, has become both a leisure and family destination. Desert safaris, luxury shopping, and architectural marvels make it exciting for tourists, while family reunions are common since many Filipinos work or live there.

Why it matters: With easier visa access, short flights, and plenty of cultural pull, these destinations remain the top choices for Filipinos balancing affordability, family ties, and adventure.

Prince Harry finally sat down with King Charles in London this week, their first face-to-face in 18 months. The meeting, which lasted under an hour over tea at Clarence House, is being read as a small thaw in their rocky relationship. Harry has publicly said he wants to mend ties, especially after his father’s cancer diagnosis, but trust remains fragile. Palace officials still worry he could share private details with the press, while Prince William continues to keep his distance. Meghan stayed in the U.S., as Harry promoted charities during his U.K. trip. Whether this peace lasts is uncertain.

Fitch just cut France’s credit rating to A+ from AA-, days after Prime Minister François Bayrou was ousted for failing to rein in a ballooning deficit. France’s shortfall hit 5.8% of GDP last year, nearly double the EU’s 3% cap, while debt climbed to 114% of output. President Emmanuel Macron has tapped Sébastien Lecornu, his fifth PM since 2022, to push a 2026 budget through a splintered parliament. Fitch warned that political gridlock makes it unlikely France will meet deficit targets by 2029. Rising borrowing costs and weak growth add to the strain, though markets expect ECB backstops.

A week after U.S. immigration agents stormed a Hyundai-LG battery plant site in Georgia, 317 South Korean workers are finally back home. Among them was engineer Cho Young-hee, who recalled being shackled, given a prison uniform, and left confused without translators. He had entered under a visa-waiver program that allows training but not hands-on labor. After days in detention, pressure from Seoul and rising public anger led to their release on a chartered flight. Tearful reunions followed at Incheon Airport, where families greeted them with signs and flowers. Cho’s first wish back home? Pork belly and soju.

Senator Bam Aquino is pushing for the full rollout of the Free Wi-Fi Law, saying millions of Filipinos still lack affordable internet access. At a Senate hearing, he stressed that connectivity is now a basic need for education, work, and business, and should be available in schools, hospitals, markets, transport hubs, and government offices. Aquino called for a clear master plan, proper funding, and defined roles for agencies to make the law work. He also urged telcos to give discounts to DepEd, noting that only 2,872 of 58,121 public schools are currently connected to the program.

In Nueva Era, Ilocos Norte, 72 college students were given heifers to help support their education and provide extra income for their families. Nursing student Angelo Campañano said the livestock is more than just assistance, it’s a lifeline. Mayor Aldrin Garvida called the program an investment in people and the community, urging students to care for the animals during their free time. Parents also received rice seeds, fertilizers, and farming inputs from the Department of Agriculture, while women’s groups got vegetable seeds and tools for community gardens. The initiative is part of the town’s “One Professional, One Family” program.

Students and church leaders staged protests over the weekend, amplifying outrage at alleged multibillion-peso corruption in flood control projects. In Cagayan de Oro, Xavier University-Ateneo students held a noise barrage, chanting against graft and urging justice. “Corruption in disaster funds kills,” said Father Mars Tan, XU-Ateneo president. In Luzon, seven Episcopal bishops issued a pastoral statement denouncing corruption as “moral decay” that deepens poverty and disaster risks. Calling on the faithful to “expose works of darkness,” they urged criminal charges, restitution, and public vigilance. Both students and clergy stressed the fight is for justice, not partisan politics.

Senators Jinggoy Estrada and Joel Villanueva said they are open to waiving bank secrecy to clear their names in the probe on alleged kickbacks from flood control projects. Both were accused by former Bulacan engineer Brice Hernandez of receiving 30% from project funds, a claim raised in a House hearing. Estrada denied the allegations, branding Hernandez a “habitual liar,” and told colleagues he is ready for scrutiny of his accounts. Villanueva echoed the same in interviews, saying he has “always been open.” The controversy is tied to ongoing investigations into ghost and anomalous infrastructure projects.

 Rep. James “Jojo” Ang Jr. has denied allegations linking him to irregularities in government flood-control projects, calling them baseless and politically motivated. In two official statements, Ang said he was surprised his name was dragged into the controversy and stressed that he has never implicated other officials. He expressed full support for a transparent investigation and vowed to use legal remedies against those spreading false claims. Ang also reiterated his stand against corruption, saying his public service has been guided by integrity and a commitment to his constituents. He promised to answer allegations through proper channels.

Read “On Writing” by Stephen King
A classic that offers practical lessons on discipline, storytelling, and character building—straight from one of the world’s bestselling authors.

Practice Daily Writing Exercises
Freewriting, journaling, or short prompts done consistently sharpen your skills and help develop your unique voice.

Read Widely and Often
The more styles, genres, and authors you consume, the more tools you’ll have for vocabulary, structure, and tone.

Seek Feedback and Revise
Share your work with editors, peers, or writing groups. Use constructive criticism to refine clarity and impact.

Condense by Half
Write freely for five minutes, then cut your draft down by 50%. This exercise trains precision and focus.