Good morning. It’s Tuesday, August 12.

PesoWeekly readers! Another power-packed read to keep you sharper than your Tuesday coffee. In this issue, we track the PSEi’s slide back to the 6,200s as economic jitters weigh on investors, and dive into Masayoshi Son’s audacious AI gamble that could define SoftBank’s next century. From Mindanao, Davao Oriental eyes zero-cost tech solutions to finally end power outages and water woes, while Mandaue City lines up P218M for flood control, waste management, and urban upgrades. President Ferdinand Marcos Jr. orders a sweeping probe into 10,000 flood control projects worth P545.64B after finding P100B funneled to just 15 contractors. Plus, why timing matters in politics, tech, and everything in between.

By request: We’ve created a practical guide for fresh graduates on how to write a resume that actually lands jobs even with zero work experience. This is the first in a new series of career tips tailored for newly minted professionals, designed to help you navigate the real world with confidence and strategy.

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

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Big picture:
President Ferdinand Marcos Jr. has ordered a sweeping investigation into nearly 10,000 flood control projects worth P545.64 billion since July 2022, after discovering that P100 billion around 20% of the total went to just 15 contractors. Calling the pattern “disturbing,” Marcos warned that political allies will not be spared if wrongdoing is found.

The details:
Among the top contractors are Legacy Construction, Alpha & Omega, St. Timothy, EGB, and Road Edge, each with projects in almost all regions. Over 6,000 projects worth P350B+ had no clear details on whether they involved construction, repair, or rehabilitation. Marcos also flagged “impossible” identical contract costs across different provinces. Some firms have political links — Sunwest, ranked 8th, was co-founded by Ako Bicol Rep. Zaldy Co. Alpha & Omega and St. Timothy are tied to the Discaya family, accused by Pasig Mayor Vico Sotto of corruption, unpaid taxes, and using illicit gains for campaigns.

Why it matters:
With flooding still a national problem despite massive spending, the probe could expose entrenched patronage networks, reshape infrastructure procurement rules, and test Marcos’ resolve to hold powerful players accountable. Marcos has launched sumbongsapangulo.ph for the public to report substandard or non-existent projects.

The Cebu City Council is urging Mayor Nestor Archival to submit the 2026 annual budget by Oct. 1, two weeks ahead of the legal deadline, to allow more time for review and ensure funding for critical programs like the Sinulog Festival. Councilor Dave Tumulak, budget committee chair, said early approval will prevent operational delays. The call comes amid a P6.843 billion budget deficit inherited by Archival after the June transition. The 2025 budget deliberations were contentious, with the council cutting the proposal from P17.9 billion to P14.6 billion, slashing or zeroing out several programs in the process.

The Department of the Interior and Local Government reported that over 133 million kilograms of garbage were collected nationwide from January 6, 2024 to May 3, 2025 under the Kalinisan Program. More than 22,000 barangays cleaned around 4 million sites, with 500,000 participants weekly, including 166,000 barangay officials. The DILG said Kalinisan is not just a clean-up drive but also a disaster risk reduction, public health, and nation-building initiative, aiming to make communities safer and healthier. Local governments conduct regular clean-ups, clear waterways, and enforce proper waste segregation, recycling, and composting to address solid waste and prevent flooding.

Davao Oriental is pursuing a “Zero CapEx” plan with global firm EōS Organization to address high electricity costs, frequent outages, and looming water stress. The proposal includes desalination, hydro-pumped storage, solar, waste-to-energy, and nuclear solutions at no cost to the government. EōS says the systems will be clean, climate-resilient, and affordable, benefiting nearby provinces as well. Governor Nelson Dayanghirang is pushing for an Energy Code, Water Code, and a Provincial Water Governance Board to ensure sustainable, reliable services. Officials stress LGU cooperation is key to turning the province’s long-standing infrastructure challenges into a model for green development.

Mandaue City is seeking council approval for a P218 million supplemental budget sourced from 2016–2024 savings to fund urgent projects this year. Plans include purchasing heavy equipment for drainage desilting, leasing trucks for faster garbage collection, and allotting P80 million for Ouano Ave. beautification. The sports complex will get P20 million for repairs, while P5 million will fund solar streetlights in interior roads. Mayor Thadeo Ouano also endorsed a Charter Day bonus and confirmed the second tranche of salary hikes for regular employees. Officials hope to secure budget approval on Aug. 11 to immediately start implementation.

PSEi: 6,254.36
BSP Rates: 5.25% (borrowing) | 4.75% (deposit) | 5.75% (lending)
🌐 Global Markets
Bitcoin: $119,074
Gold: $3,385 - $3,445

💱 Exchange Rates (PHP per 1 unit)

🇺🇸 USD: ₱57.14
🇬🇧 GBP: ₱76.51
🇸🇦 SAR: ₱15.21
🇯🇵 JPY: ₱0.386
🇪🇺 EUR: ₱66.31
Note: Exchange rates may vary slightly depending on provider.

The Philippine Stock Exchange index (PSEi) fell for a third straight session Monday, sinking 1.34% or 85.02 points to 6,254.36 amid weak market sentiment and concerns over economic growth. Analysts cited the lack of fresh catalysts, global uncertainties, and questions on how the economy can meet its 5.5%-6.5% GDP target. First-half GDP averaged 5.4%, requiring a stronger second half to hit even the low end of the goal. Most sectors closed lower, led by financials and property. Investors are now eyeing US inflation data on Aug. 12 for clues on Federal Reserve policy, which could sway market direction.

Golden ABC, Inc., owner of Penshoppe and brands like OXGN, Memo, and Regatta, is ramping up growth with a robotics-powered distribution center and AI-driven operations. VP Bryan Liu said automation boosts efficiency and service for both stores and customers, while AI reshapes data collection and product development. Penshoppe VP Brandon Liu emphasized staying relevant through on-trend fashion, cultural collaborations, and strong store experiences. The retailer targets a wider audience beyond youth, explores TikTok live selling, and plans for expansion into new categories. Despite e-commerce growth, physical stores remain a core strength, with a focus on integrating in-store and online experiences.

Indian dialysis operator NephroPlus plans to invest $50 million to expand its Philippine network from 39 to 150 clinics by 2028, creating 1,000 jobs and targeting underserved provinces with high chronic kidney disease rates. The expansion includes new centers, localized manufacturing of dialysis supplies, and a training academy for nurses. Since entering in 2020, NephroPlus has invested $30 million and employed 600 staff. The plan also features AI-enabled treatment monitoring and dialysis research. The DTI says the move will boost the country’s healthcare economy, which is growing amid rising CKD cases linked to diabetes and hypertension.

Skydance’s Paramount has secured exclusive US media rights to all UFC fights in a seven-year, $7.7 billion agreement starting next year. Paramount+ will stream 13 major UFC events and 30 Fight Nights annually, with some simulcast on CBS. The deal nearly doubles UFC’s previous ESPN contract, moving away from the pay-per-view model to boost viewership and subscriptions. Paramount says the partnership will drive engagement and growth, while UFC gains wider exposure on broadcast TV. Talks began after ESPN’s exclusive window expired, with other bidders in play. Paramount also plans to pursue UFC’s international rights as they become available.

SoftBank founder Masayoshi Son is making his boldest move yet, staking the Japanese giant’s future on artificial intelligence. Believing artificial superintelligence could arrive within a decade, Son has poured billions into AI—from majority ownership of chip designer Arm, valued at $145B, to a planned $32.7B investment in OpenAI, plus acquisitions like Ampere Computing. His vision spans the AI stack, from semiconductors to robotics, aiming to build a cohesive ecosystem. While past bets like Pepper robots and early driverless car ventures stumbled, Son sees AI’s infancy as an opportunity to position SoftBank at the center of the next technological revolution.

Big picture: In the Philippines, fresh grads face a competitive job market where youth unemployment ranges from 6.5% to 14.8%. Recruiters scan resumes in as little as 7 seconds, so your first impression has to be sharp and tailored.

The challenge: Many first-time jobseekers think “no experience” means nothing to put on a resume. The truth? Your thesis, campus leadership, org projects, and internships are valid experience—if framed the right way.

Quick wins for fresh grads:
• Keep it clean, one page, and tailored to the role.
• Start with a short professional summary (2–3 lines) showing your skills and career goal.
• Highlight relevant coursework, capstone projects, and leadership roles.
• Quantify achievements (e.g., “Increased org membership by 50%”)—numbers beat adjectives.
• Use job ad keywords to pass Applicant Tracking Systems.

Avoid: Irrelevant personal info (“Height,” “Civil Status”), vague buzzwords (“hardworking”), or overly complex designs that break ATS compatibility.

Why it matters: Companies hire for potential as much as experience. By packaging your academic work and extracurriculars as professional assets, you show that you can deliver results even before your first paycheck.

This is just the start—our full 1,200-word guide breaks down each resume section, shows before-and-after examples, and gives you a checklist to ensure your application survives the first round.

👉 Read the full guide on PesoWeekly Site (Click this)

The US is auctioning the $325 million superyacht Amadea, its first sale of a seized Russian luxury vessel since Moscow’s invasion of Ukraine. Built in 2017, the 348-foot yacht boasts eight staterooms, a helipad, spa, gym, pool, and space for 16 guests and 36 crew. The US says sanctioned oligarch Suleiman Kerimov is the true owner, using former Rosneft CEO Eduard Khudainatov as a front. Khudainatov disputes this and is appealing a forfeiture ruling. Bidders must place an $11.6 million deposit by September 10. Proceeds could aid Ukraine under a 2024 law allowing seized Russian assets to fund Kyiv’s defense.

US Vice President JD Vance began a 10-day visit to the UK, starting with a weekend stay at Foreign Secretary David Lammy’s official residence before vacationing in the Cotswolds and Scotland. The trip, his longest overseas since taking office, underscores unexpectedly warm ties between the Trump administration and Britain’s Labour-led government. Vance and Lammy, despite past political clashes, have formed a personal friendship rooted in shared faith and similar childhood struggles. Talks covered Gaza, Ukraine, and bilateral relations. Analysts see the visit as proof that the “special relationship” remains strong, with both sides benefiting from improved diplomacy and trade cooperation.

Tokyo has been ranked the world’s top city for a “workation” in the International Workplace Group’s annual “work from anywhere” barometer. Scoring 91 out of 120, Japan’s capital impressed with fast broadband, excellent transport, safety, a new digital nomad visa, and easy access to nature. Rio de Janeiro placed second with affordable living costs and citywide 5G, while Budapest ranked third for its strong transport links and cultural spaces. The top 10 also includes Seoul, Barcelona, Beijing, Lisbon, Rome, Paris, and Valletta. The study assessed 12 factors, from internet speed to climate, making these cities ideal for mixing work and travel.

Cambodian authorities arrested at least 500 people in two provinces as part of a nationwide campaign against online scam centers, bringing total arrests since June 27 to 2,137. Raids targeted Kandal, near Phnom Penh, and Stung Treng, netting suspects from China, Vietnam, Indonesia, Korea, Bangladesh, Pakistan, and other countries. Officials say the crackdown, ordered by Prime Minister Hun Manet, will continue until all illegal operations are dismantled. Many scam workers are lured by fake job offers, then forced to commit fraud under threat of violence. Rights groups welcomed the action, citing long-standing damage to Cambodia’s global reputation from cybercrime operations.

Big picture: US chipmakers Nvidia and AMD will give 15% of their China sales revenue to the US government. This follows months of debate on whether their AI chips should be sold to China, given concerns the technology could strengthen Beijing’s military and AI programs.

The deal: Both companies had their chips banned earlier this year. After Nvidia CEO Jensen Huang met President Trump in July, the ban was lifted on the condition they share revenue in exchange for export licenses. Analysts estimate:

The controversy: Former US officials say the deal risks national security by putting money above long-term defense strategy. Critics warn it sets a precedent where sensitive technology is traded for political or financial gain. Security experts argue the H20 is still advanced enough to boost China’s AI race.

Why it matters: China is the world’s largest semiconductor market. Nvidia says blocking sales would only allow Chinese rival Huawei to dominate and reinvest profits into competing with US companies. The US gains revenue without raising taxes, but faces the risk of strengthening its biggest tech competitor.

Four astronauts splashed down in the Pacific off Southern California on Saturday, ending a five-month mission at the International Space Station. NASA’s Anne McClain and Nichole Ayers, Japan’s Takuya Onishi, and Russia’s Kirill Peskov launched in March to replace Boeing Starliner’s stranded crew. Starliner’s malfunctions kept two NASA astronauts in space for over nine months, forcing NASA to bring them home on SpaceX. The returning crew looked forward to rest, hot showers, and burgers. This was SpaceX’s first NASA Pacific splashdown in 50 years, part of a shift from Florida landings to reduce debris risks over populated areas.

Researchers in China have developed a cement-hydrogel composite that can generate and store electricity, opening the door for buildings and roads that power themselves. Inspired by the layered structure of plant stems, the material alternates cement with hydrogel layers, allowing ions to move faster and boosting its thermoelectric effect tenfold compared to previous cement-based materials. This means structures could one day run sensors, lights, or communication systems without external power. Strong enough for construction and able to store energy, this innovation could help create smarter, more sustainable cities where infrastructure doubles as a clean energy source.

Scientists say the fading vibrance people notice as they get older may be more than nostalgia. Research shows aging can reduce the brain’s sensitivity to color saturation, making reds, greens, and other vivid hues seem duller. While eye conditions like cataracts can also affect color, studies suggest the brain’s visual cortex plays a big role in this change. Older adults’ pupils react less to intense colors, altering how they’re perceived. Though there’s no proven way to stop this process, experts suggest surrounding yourself with bold colors or using saturation-enhancing lenses to keep the world looking bright. Regular eye exams remain essential.

AOL, the internet giant of the ’90s known for its “You’ve got mail” greeting and free CD trials, will shut down its dial-up service on September 30, marking the end of an era when people connected to the web through noisy telephone lines before Wi-Fi existed; now part of Yahoo, AOL will also discontinue its Dialer software and Shield browser, closing the chapter on a service that once brought millions online but has long been overtaken by faster broadband, leaving only nostalgia for those who remember the early days of the World Wide Web.