Happy Thursday! The BIR is collecting more than expected, but the government’s borrowing needs are growing too. We unpack the tax target behind next year’s budget, rising Philippine debt, retailers’ holiday hopes, AI-powered farm drones, a record-breaking Filipino weightlifter, and the other stories worth knowing this morning, here and abroad.

Stay Sharp.

The big picture: The BIR collected ₱2.003 trillion from January through July, beating its target by ₱13.53 billion. Collections rose 5.4% year on year and reached around 60% of its 2026 goal.

What’s next: The government projects BIR collections to reach ₱3.736 trillion in 2027, 10.1% above the 2026 program. VAT and related sales taxes collected by the BIR, excluding import VAT, are projected to rise 12.8% to ₱860.03 billion.

Why it matters: That increase would account for nearly one-fourth of the projected growth in overall tax revenue.

The catch: The forecast partly depends on stronger consumption, business activity, tax compliance, and collection efficiency. Weaker spending, investment, or imports could make the target harder to achieve, despite this year’s progress.

The national government plans to borrow ₱1.7 trillion in 2027 to finance its projected budget deficit, with most funding expected from domestic sources. The borrowing program aims to support the proposed ₱7.2-trillion national budget while managing fiscal needs and sustaining priority government spending.

PH Debt Seen Hitting Record ₱21.5T

The national government's outstanding debt is projected to reach a record ₱21.48 trillion by end-2027, driven by continued borrowing, a weaker peso, and slower fiscal consolidation. The Department of Budget and Management said debt growth reflects financing requirements while efforts continue to balance spending with fiscal sustainability

Retailers Expect Stronger Second Half

Philippine retailers are betting on a stronger second half of 2026 despite weaker consumer spending, rising operating costs, and several brand exits. Industry groups expect improved demand during the holiday season, supported by easing inflation, while companies continue adjusting store portfolios and expanding brands with stronger growth potential.

Strong Earnings Lift Stocks and Peso

Philippine stocks and the peso advanced as upbeat corporate earnings boosted investor confidence. The PSEi rose 0.63% to 6,366.64, while the broader All Shares Index gained 0.76% to 3,463.99. The peso also strengthened against the US dollar amid improved market sentiment.

Jenna Ortega revealed Hollywood's intense demands contributed to her developing anorexia nervosa as a child actor while struggling with pressure, perfectionism, and constant work. (Read more)

Joey Reyes Blames Mindset for Cinema Slump

FDCP chair Joey Reyes said Philippine cinema's biggest problem is not ticket prices but Filipinos' attitude toward supporting local films, urging audiences to value homegrown movies. (Read More)

Delos Santos Smashes Records With Triple Gold

Filipino weightlifter Albert Ian Delos Santos captured three gold medals and set two new records at the Asian Youth and Junior Weightlifting Championships, cementing his status as one of Asia's brightest talents.(Read More)

The Department of Agriculture is exploring AI-powered drones that can monitor crops, detect diseases and predict pest outbreaks. The technology was tested on banana farms in Davao. (Read more)

South Korea Sets 2030 Goal for First Moon Landing

South Korea unveiled seven major technology projects, including plans for a 2030 moon landing, a 100-qubit quantum computer by 2029, and brain-computer interface products by 2035. (Read more)

AI bot hacks gym website while booking Pilates class

An AI agent secured a Pilates class for an Australian user but went beyond its task by hacking the gym’s website. The incident highlights risks from autonomous AI systems. (Read more)

Centaur-like robot aims to protect workers in dangerous jobs

California startup Satyress unveiled Threehalves, a seven-foot teleoperated robot designed for hazardous work. Its four legs and tool-equipped arms allow workers to operate remotely in extreme conditions. (Read more)

Leatherback Turtle Lays Eggs Along Davao Occidental Shore

A critically endangered leatherback sea turtle was documented laying eggs in Don Marcelino, Davao Occidental. The 1.5-meter turtle was estimated to weigh between 200 and 300 kilograms.

Brain Scans Show Dogs Can Tell Fearful Faces From Angry Ones

Researchers found that dogs can distinguish between different human facial expressions, including fearful, angry and sad faces. The findings suggest dogs can recognize specific negative emotions.

Ancient Swedish Cave Yields 9000-Year-Old Burial Of Pregnant Teenager

Archaeologists discovered the remains of a young pregnant woman and fetus in a Swedish cave. The burial is estimated to be 8,000 to 9,500 years old, researchers said.

Excess Weight Linked To Higher Cancer Risk, Study Finds

A new study suggests excess body weight may account for up to 11.5% of cancer cases, higher than previous estimates. Researchers linked obesity to several types of cancer.

🐾 Eleven pets were rescued near Baguio’s deadly landslide ground zero as responders continued searching affected areas and caring for surviving animals. (Read more)

💰 SSS expects to release over ₱250 billion in benefits this year, driven by higher pension payouts and expanded member assistance. (Read more)

🌧️ The PNP said deaths from Luis, Maymay, and Habagat reached 26, with rescue, relief, and recovery operations continuing nationwide. (Read more)

🚨 Authorities rescued eight suspected human trafficking victims in Zamboanga and arrested three women allegedly facilitating illegal overseas recruitment to Saudi Arabia. (Read more)

🗑️ President Marcos blamed a damaged trash trap and nearly a month’s worth of rainfall for massive garbage accumulation in Manila Bay. (Read more)

Organizers of the badminton World Championships in New Delhi hired workers who mimic langur calls to deter rhesus monkeys. The animals have previously entered venues and caused disruptions.

Woman Rescued Alive After 36 Hours Trapped Under Colombia Quake Rubble

A 32-year-old woman was rescued alive after spending 36 hours trapped beneath a collapsed building following a 7.4-magnitude earthquake in Colombia. Rescuers reached her through a tunnel.

Ferry Capsizes In Zimbabwe, Leaving At Least 44 Dead

At least 44 people died after an overcrowded ferry capsized on Lake Kariba in Zimbabwe. The vessel reportedly carried more than 100 passengers, while rescue teams searched for missing people.

📝 Harry Potter fans rerouted £430 million cable to protect Dobby's fictional grave. (Read more)

📝 Thailand’s hit horror comedy Peemak gets Filipino adaptation with star-studded barkada cast. (Watch here)

📝 Apple Pay mistaken for apple pies in viral fast-food encounters. (Watch here)

📝 Thread of Cinemalaya gems you can stream on Netflix. (Watch here)