Good morning

Happy Saturday, PesoWeekly readers! Before you kick back with family or friends this weekend, we’ve lined up the stories you need to know.

This week: the DPWH vows to sue its own execs and contractors over billions in “missing” flood control projects, South Korea scrambles to bring home workers detained in a massive Hyundai plant raid in Georgia, and the SSS rolls out a historic multi-year pension hike for 3.8 million retirees. We also look at why students are turning to BPO jobs to survive school, and how the Philippines is still falling behind in AI adoption.

Grab your coffee—let’s dive in.

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HEADLINE
DPWH Targets Mindoro Flood Control Scandal

Second wave of complaints
The Department of Public Works and Highways (DPWH) will file criminal charges next week against its own officials and contractors tied to anomalous flood control projects in Oriental Mindoro, Secretary Vince Dizon confirmed. This follows an earlier graft case filed with the Ombudsman against 20 DPWH officials and four contractors.

Who’s involved
Among the firms flagged are Sunwest Inc., St. Timothy Construction Corp., and Elite General Contractor. Dizon noted that at least ₱750 million worth of projects listed in the 2024 budget including major river dikes were nowhere to be found during inspection.

Follow the money
Dizon said the DPWH will coordinate with the Anti-Money Laundering Council (AMLC) to freeze and forfeit assets of those involved. He stressed that jail time alone isn’t enough, stolen public funds must be recovered.

Blacklisting contractors
  • Sunwest Inc. (five project packages in Mindoro)

  • St. Timothy Construction Corp. (Discaya-linked)

  • Elite General Contractor (Discaya-linked)

  • Wawao Builders and SYMS Construction (already banned for ghost projects in Bulacan)

Bigger picture
The anomalies have drawn attention from Congress and Senate, with Senator Ping Lacson earlier flagging a possible lawmaker’s link. Dizon insists the agency’s priority is accountability through criminal charges, contractor bans, and most importantly, returning billions in taxpayers’ money.

MARKETS
Market at a glance

PSEi: 6,109.21
BSP Rates: 5.25% (borrowing) | 4.75% (deposit) | 5.75% (lending)
🌐 Global Markets
Bitcoin: $114,908.94
Gold: $3,334

💱 Exchange Rates (PHP per 1 unit)

🇺🇸 USD: ₱56.91
🇬🇧 GBP: ₱77.54
🇸🇦 SAR: ₱15.25
🇯🇵 JPY: ₱0.3896
🇪🇺 EUR: ₱66.77
Note: Exchange rates may vary slightly depending on provider.

BUSINESS & INVESTMENT NEWS
Villar Land Fights ₱12M Fine

Villar Land Holdings is pushing back against a ₱12 million SEC fine for late filing of its audited financial reports, plus a ₱2,000 daily penalty that kicked in last July. The company said delays were “beyond its control,” blaming a lengthy review by its external auditor not neglect by management. Regulators weren’t convinced, rejecting the initial explanation and flagging concerns after Villar Land’s net profit spiked from ₱1.46B in 2023 to nearly ₱1T in 2024, largely from property revaluations. The SEC says it’s checking for possible insider trading or manipulation as it reviews the company’s appeal.

Banks Still Miss MSME Loan Quota

Philippine banks lent ₱540.9 billion to micro, small, and medium enterprises (MSMEs) in the first half of 2025, up 10.8% year-on-year. But that’s still far short of the ₱1.18 trillion required under the Magna Carta for MSMEs, with the sector’s compliance ratio at just 4.59%, less than half the 10% mandate. Big banks remain the laggards, with loans to micro and small firms at only 1.42% of their portfolios. By contrast, rural and cooperative banks over-delivered, hitting 20.5% for small firms and 12.5% for medium ones. Despite growth, MSMEs—long touted as the economy’s backbone—remain underfunded.

MRT-3 Sticks With Sumitomo

The Department of Transportation has extended its deal with Japan’s Sumitomo Corp. for another two years to keep the MRT-3 running smoothly. Signed by Acting Secretary Giovanni Lopez and Sumitomo’s Takeshi Noguchi, the contract covers system upgrades, repairs, and ongoing maintenance aimed at fewer breakdowns and faster rides. Sumitomo has been handling MRT-3 since 2019, overseeing its turnaround from just 7 working trains in 2018 to as many as 22 by 2022. With the extension, the government hopes to lock in safer, more reliable service for the hundreds of thousands who rely on the line daily.

Philippines Expands EV Playbook

The Department of Energy has widened the country’s electric vehicle classifications from four to six, adding range extender EVs and fuel cell EVs to the official list. Under the new rules, EVs now cover everything from e-scooters under 50kg to zero-emission hydrogen-powered cars. The update also clarifies definitions, streamlines documentation, and removes discontinued models from the registry. Energy Secretary Sharon Garin said the move aims to build a “future-ready EV market” in the Philippines. Translation: whether you’re rolling on an e-bike or eyeing a fuel cell ride, the road to electrification just got a lot more organized.

ODA Partners Watching PH Corruption Response

The government’s handling of flood control corruption scandals could influence how foreign lenders view the Philippines, according to the Department of Economy, Planning, and Development (DEPDev). Undersecretary Rosemarie Edillon said ODA partners like Japan, ADB, World Bank, the U.S., and South Korea will be monitoring how Manila tackles transparency and safeguards in infrastructure spending. The Philippines’ ODA portfolio hit $39.6B in 2024, making credibility crucial. With alleged kickbacks and “ghost projects” costing up to ₱118.5B, officials are pushing for stricter oversight, including Project DIME’s satellite and drone monitoring. Edillon stressed that curbing graft is key to protecting jobs and investor trust.

PESO REALITIES
When Studying Isn’t Enough: Surviving School Through the BPO Industry
by Francine Tosoc

“To get to where I am, doble ‘yung pagod, doble ‘yung puyat, doble ‘yung self-doubt ko.” This line from Bar Boys actor Will Ashley reflects the reality of thousands of Filipino students who balance college with the demands of the BPO floor.

In today’s economy, even studying feels like a luxury. Rising tuition and daily expenses push many students to the call center floor, not out of choice, but survival. With wages that beat most entry-level jobs, flexible hiring, and skills that look good on a CV, call centers and outsourcing hubs have become more than stopgaps, they’re a launchpad. The average BPO worker is 18 to 34 years old, overlapping with the demographic of college undergraduates.

A BPO paycheck : ₱17,000–₱22,725 monthly easily outpaces the ₱13,000–₱15,000 minimum wage. That gap often decides whether a student drops out or stays enrolled.

Why students choose BPO work
  • Tuition and allowance lifeline

  • Low entry barriers, high skill rewards

  • Family support and early breadwinning

  • Resume boost and fast promotions

The trade-offs are real. Graveyard shifts plus daytime classes leave little rest. Burnout, caffeine dependence, and chronic fatigue take a toll, while juggling coursework with customer calls drains both mind and body.

Still, the upside is undeniable. BPO jobs offer real paychecks, global exposure, and even fast-track promotions benefits rare in other part-time work. For many young Filipinos, the headset isn’t about passion but survival. The sacrifices are heavy, but the opportunity to stay in school and support family keeps them grinding through the night.

WORLD NEWS
Nepal’s Gen Z Uprising: Social Media Ban Sparks Historic Protests

Trigger point
What started as a ban on 26 social media platforms quickly spiraled into Nepal’s deadliest protest in decades. On September 8, clashes between police and demonstrators most of them Gen Z, left 22 dead and hundreds injured. Outrage boiled over, forcing Prime Minister KP Sharma Oli and his cabinet to resign. Protesters torched parliament, the supreme court, and even politicians’ homes, while leaders went into hiding.

Why Gen Z is leading
Nearly 40% of Nepal’s 30 million people are Gen Z. This generation grew up amid constant government changes, 14 administrations in 15 years, yet saw little improvement in jobs or equality. With youth unemployment above 20%, frustration has long simmered. Social media became both a lifeline and megaphone for activism. So when the government banned platforms like TikTok and Instagram, many saw it as censorship and a tipping point.

Regional parallels
Nepal’s protests echo movements across Asia, from Sri Lanka’s Aragalaya to Bangladesh’s youth-led uprisings. Like their peers, Nepali activists used memes, hashtags, and online organizing rather than party structures to mobilize.

  • Bangladesh (2024): protests against corruption and joblessness

  • Sri Lanka (2022): collapse of government amid nepotism and economic crisis

  • Indonesia (2025): student protests fueled by digital organizing

What’s next
Nepal’s army is now coordinating with Gen Z activists to form an interim civilian government, with former Chief Justice Sushila Karki floated as a leader. But challenges remain: entrenched elites still dominate key institutions. Whether young protesters can translate street power into structural change will define Nepal’s next chapter.

Bolsonaro Gets 27 Years for Coup Attempt

Brazil’s Supreme Court has sentenced former president Jair Bolsonaro to 27 years in prison for trying to overturn his 2022 election loss to Luiz Inácio Lula da Silva. Four of five justices found him guilty of leading a coup plot, joining an armed criminal organization, and attempting to abolish democracy by force. Several ex-officials, including his former defense minister, also received decades-long sentences. Bolsonaro, under house arrest, can still appeal to the full court. The ruling the first conviction of a Brazilian ex-president for a coup attempt, has split the nation and triggered sharp backlash from Trump’s U.S. administration.

Hyundai Raid Fallout

More than 300 South Korean workers detained in a massive U.S. immigration raid at Hyundai’s EV plant in Georgia will be sent home, Seoul confirmed Sunday. The raid, one of the largest under Trump’s immigration crackdown—detained 475 people, most of them South Koreans helping build what’s billed as Georgia’s biggest economic project. South Korea is dispatching a charter plane for the workers and expressed “concern and regret” over the arrests. The timing is awkward: Seoul just pledged $350B in U.S. investments and $100B in energy purchases. Trump suggested some workers could stay temporarily to train Americans in battery tech.

NEWS AROUND THE PHILIPPINES
SSS Pension Gets Biggest Boost Yet

Starting this September, more than 3.8 million pensioners will see their Social Security System (SSS) pensions rise under a historic multi-year hike announced by President Marcos Jr. For the first time in SSS’s 68-year history, increases will roll out yearly: 10% for retirement and disability pensioners, 5% for death or survivorship pensioners from 2025 to 2027. Crucially, no extra contributions from members are required. The move will inject ₱93 billion into the economy over three years, giving retirees and their families more breathing room for essentials like food and medicine-an effort Marcos says reflects “comfort in the New Philippines.”

Philippines Falling Behind in AI Race

A new PIDS study shows that while 90% of Philippine businesses have computers and 81% have internet, only 14.9% actually use AI tools and adoption is mostly confined to big ICT and BPO firms in Metro Manila and Calabarzon. MSMEs, agriculture, and rural sectors are barely in the game, citing weak infrastructure, low awareness, and lack of skills or funding. Researchers warn that without faster adoption, industries risk falling behind as other economies embrace AI to cut costs and boost productivity. The takeaway: the Philippines may be wired, but when it comes to AI, most firms are still offline..

When ‘Complete’ Isn’t Complete

A drainage project in Lapu-Lapu City was listed as finished on the government’s Sumbong sa Pangulo watchdog site but on the ground, about 20 meters of work remain undone. The ₱17.1M George Tampus Road project, meant to ease flooding in Basak, was supposed to be completed in July 2024. DPWH says right-of-way issues and traffic concerns delayed final works, calling it “substantially complete.” But the mismatch between paperwork and reality exposes cracks in the transparency tool President Marcos Jr. launched to rebuild public trust. If one “completed” project isn’t actually complete, how many more on the list are questionable?

DavSam Bridge Spurs Transport Planning—and Environmental Tensions

The ₱20.8B Samal Island–Davao City Connector (DavSam) Bridge is 41% complete, set to cut ferry travel from 55 minutes to just 4.5 minutes and handle 25,000 vehicles daily. Igacos Mayor Toto Reyes is preparing a transport system to manage the surge in tourists and cars. But environmental groups warn construction has already killed 33% of Paradise Reef’s corals, threatening fisheries and livelihoods. A Writ of Kalikasan has been filed, with the Supreme Court ordering government agencies and the Chinese builder to respond. The project highlights a sharp trade-off: economic growth versus protecting Samal’s fragile marine ecosystems.

Zambo Port Project Hits Reset

The Philippine Ports Authority (PPA) has terminated its contract with MAC Builders for the long-delayed Zamboanga Port Passenger Terminal Building. Officials said the project, started in 2021, no longer fits current needs and was only 56% complete despite multiple extensions. Zamboanga Port is one of Mindanao’s busiest gateways, serving local travelers and international cargo like sardines, coconut, and rubber making modernization critical for trade growth. The PPA stressed no advance payments were made, ensuring funds remain to finish the project with a new contractor. Meanwhile, issues of ship ticket scalping are being coordinated with MARINA, Coast Guard, and local officials.

SCIENCE & TECH
The Science of Sweetness

Chocolate lovers, brace yourselves: scientists say the secret to the perfect bar isn’t in the cocoa bean’s DNA, but in the tiny microbes that ferment it. A team led by Dr. David Gopaulchan discovered that these microbes, not genetics, shape the rich, distinct flavors we taste. By isolating and controlling them, researchers could recreate consistent, high-quality chocolate anywhere, even in a lab. For an industry where fermentation has always been unpredictable, this could mean chocolate brands crafting their own signature flavors on demand.

When Knee Pain Turns to Gold

Doctors in South Korea found something unusual inside a 65-year-old woman’s aching knees: hundreds of tiny gold threads. The patient, who had osteoarthritis, had turned to gold-thread acupuncture after painkillers and injections failed her. The practice involves embedding short strands of gold in tissue for “long-term stimulation.” But scans revealed bony growths and hardened joints alongside the glittering threads. Experts warn that while popular in parts of Asia, there’s no evidence it works—and it may even delay proper treatment. Bonus risk: the threads can migrate, form cysts, and complicate scans like MRIs. Pain relief, but at a price.

AI Finally Gets a Bill

A new internet standard called Really Simple Licensing (RSL) is being rolled out to make AI pay for the content it consumes. Backed by Reddit, Yahoo, Quora, O’Reilly Media, Medium, and others, RSL lets publishers embed machine-readable rules in their sites to define how AI crawlers can use their work whether free, with attribution, pay-per-crawl, or even pay-per-inference. The nonprofit RSL Collective will pool rights for millions of creators, giving them more leverage similar to how ASCAP and BMI protect musicians. For decades, AI has trained on online content without paying; RSL could be the first real step toward fair compensation.

Robotaxis Hit the Strip

Zoox just made history in Las Vegas, officially launching the world’s first fully autonomous ride-hailing service using a purpose-built robotaxi. Starting September 10, riders can book free trips along and around the Strip through the Zoox app. Unlike retrofitted self-driving cars, Zoox built its vehicle from scratch with carriage seating, concierge support, and seamless pickups at spots like Resorts World and AREA15. For now, rides are free as the company collects feedback before scaling to paid service. After more than a decade of development, Zoox is betting that Vegas is the perfect stage to showcase its driverless future.

Zambo Port Project Hits Reset

The Philippine Ports Authority (PPA) has terminated its contract with MAC Builders for the long-delayed Zamboanga Port Passenger Terminal Building. Officials said the project, started in 2021, no longer fits current needs and was only 56% complete despite multiple extensions. Zamboanga Port is one of Mindanao’s busiest gateways, serving local travelers and international cargo like sardines, coconut, and rubber making modernization critical for trade growth. The PPA stressed no advance payments were made, ensuring funds remain to finish the project with a new contractor. Meanwhile, issues of ship ticket scalping are being coordinated with MARINA, Coast Guard, and local officials.

Satellites vs. Kickbacks

The DOST and DBM are teaming up to fight corruption with tech. Through Project DIME (Digital Imaging for Monitoring and Evaluation), the government is rolling out satellites, drones, and LiDAR to track whether projects are actually built or just ghost entries on paper. Early pilots showed its muscle: mapping ₱4B in damage from the Marawi siege and auditing billion-peso irrigation systems. The timing matters. With DPWH facing probes over alleged flood control scams worth hundreds of billions, science-backed monitoring could be the watchdog taxpayers need. In short: less paper reports, more hard evidence, fewer excuses for padded budgets.

PESO PICKS
Curated Finds for Savvy Filipinos

BPI AIA Free Courses – Simple video lessons on budgeting, saving, and financial planning. Click here

The Richest Man in Babylon by George S. Clason: Timeless money lessons told through short, easy parables. Available on any bookstores

Philippine Spirits by Jean Karl Gaverza – A digital archive of 2,000+ mythical creatures and deities from Filipino folklore. Find it on: Philippine Spirits

🎙️The Koolpals:  Pinoy comedians talk life and pop culture with jokes, banter, and big laughs. Click here

The Psychology of Money by Morgan Housel: Why how you think about money matters more than what you know. Available in all bookstores.

Historybook:The Road to Independence and War. After the Philippine-American War, the U.S. established civil government, promising eventual independence. The Commonwealth of the Philippines was formed in 1935, but World War II intervened as Japan invaded. Following liberation, the Philippines finally gained full independence on July 4, 1946, becoming the Third Philippine Republic.

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