Good morning.

Today’s issue starts with a rare win for tired business owners: closing a business may finally get less painful. We’re also watching Jollibee’s profit squeeze, pressure on Asian markets, PH external risks, Cannes history for Filipino VR, robotic cake, and why Japan’s allergy problem started with trees.

Stay Sharp.

The BIR is making it easier for businesses to officially close.

Under Revenue Memorandum Circular No. 047-2026, business taxpayers that have permanently stopped operations can apply to cancel their BIR registration either manually or through online channels.

The big change: once complete documents are submitted, the business will be marked as “deregistered” right away. That means penalties stop piling up, although the BIR can still check for unpaid taxes.

For micro businesses with gross sales not above ₱3 million, tax clearance can be released within three working days, as long as requirements are complete and there are no outstanding liabilities. They also won’t face mandatory audits.

But businesses with pending audits still need to finish that process first.

Why it matters: closing a failed or finished business should not feel like a second business.

Economist Jonathan Ravelas said the Philippines remains far from stagflation despite rising inflation, peso weakness, and slower growth. He warned inflation could average 7.2% this year while the peso may hit ₱65 per dollar within three years. Ravelas said resolving political issues and improving energy and food security are critical to maintaining investor confidence.

BMW Opens New Metro Manila Service Hub

BMW Philippines opened a new aftersales facility along EDSA in Mandaluyong to improve service access for Metro Manila customers. The hub features 10 work bays and supports gasoline, hybrid, and electric BMW models. The move reflects growing demand for faster maintenance services as competition in the premium automotive market intensifies.

Asian Economies Face Bond Market Pressure

Indonesia, the Philippines, and India are facing rising pressure as global bond yields and oil prices surge amid Middle East tensions. Weakening currencies, capital outflows, and higher inflation are forcing central banks to consider rate hikes despite slowing growth. Economists warn the situation mirrors past Asian financial crises, raising risks of deeper economic and political instability.

Philippines BOP Deficit Nears Full-Year Target

The Philippines posted a $2.12 billion balance-of-payments deficit in April as rising oil prices and global market uncertainty fueled dollar outflows. The year-to-date deficit reached $7.4 billion, already near the BSP’s full-year estimate. Economists said strong remittances and services exports continue to cushion external pressures despite peso weakness and higher import costs.

Filipino virtual reality film “Yellowfin” entered the 2026 Cannes Immersive Competition, becoming the first Southeast Asian project selected. The VR drama explores overfishing, coastal life, and human isolation through Cebuano-led storytelling. (Read more)

Grey’s Anatomy Heads to Texas

ABC ordered a new “Grey’s Anatomy” spinoff set in a rural West Texas medical center for the 2026-2027 season. The series expands Shonda Rhimes’ medical drama universe with new characters and high-stakes healthcare stories. (Read More)

Alyssa Valdez Open to National Team Return

Volleyball star Alyssa Valdez said she will never tire of representing the Philippines amid reports she may rejoin Alas Pilipinas for the AVC Women’s Cup alongside the country’s rising young talents. (Read more)

Big picture: Jollibee sold more food worldwide, but made less money. Q1 2026 systemwide sales rose 10.3% year-on-year to ₱113.9 billion, while revenue climbed 9% to ₱76.5 billion. Growth came from both the Philippines (+8%) and overseas (+13.5%), with brands like Compose Coffee, Highlands Coffee, and Tim Ho Wan helping lift sales.

Why it matters: Higher costs ate into profits. Gross margins fell as beef prices, fuel, freight, and logistics costs climbed. Operating income dropped 18.2% to ₱3.9 billion, while net income declined 38.8% to ₱1.47 billion. Management said chicken costs stayed relatively manageable, but beef became a bigger pressure point.

Market read: Jollibee plans calibrated price increases, tighter cost controls, and continued global expansion after opening 181 stores in Q1, including 149 overseas.

In collaboration with AB Capital Securities. This section is for informational purposes only and does not constitute investment advice. Please conduct your own research or consult a licensed professional before making investment decisions.

Scientists in Switzerland and Italy created a robotic cake with edible gummy bears and rechargeable chocolate batteries. The cake debuted at Expo 2025 in Osaka. Researchers said the project could help reduce electronic waste and inspire new food and medical technologies. (Read more)

Google unveiled Genie world model that integrates Street View data to simulate interactive real-world streets during Google I/O 2026, enabling immersive environments for AI agents, robotics training, and users globally. (Read more)

Israel Electric Corporation in Israel launched a drone-mounted robotic system developed with Kronos to install and remove warning balls on high-voltage transmission lines replacing helicopters for safer maintenance operations worksites. (Read more)

Robots are being developed to make clothing using adhesive instead of sewing, with companies testing automated systems for underwear and t-shirts. The approach could cut costs, reduce waste, and reshape global garment manufacturing and supply chains significantly. (Read more)

DOH to Release Updated Ebola Protocols After WHO Emergency

The Department of Health will update Ebola protocols after WHO declared a public health emergency due to outbreaks in Congo and Uganda, tightening airport screening and monitoring incoming travelers for symptoms and exposure risks within the week.

Europe-China Spacecraft Launches to Study Earth’s Magnetic Shield

A Europe-China SMILE spacecraft launched to study Earth’s magnetosphere and solar storms, aiming to observe space weather effects in X-rays and ultraviolet light from orbit to improve forecasts and protect satellites and power systems.

Kimchi Probiotic Helps Remove Nanoplastics From Gut

Researchers found that a kimchi-derived lactic acid bacterium can bind to nanoplastics in the intestine and increase their excretion in feces. Animal tests showed higher removal rates, suggesting probiotics may help reduce plastic accumulation in the human body.

Scientists Explain Hidden ‘Third Eye’ in Human Brain

Scientists propose humans retain a hidden third eye called the pineal gland, evolved from ancient median eye structures, helping regulate light, sleep cycles, and biological timing in vertebrate evolution process

🐔 Zamboanga City banned poultry and livestock products from three Zamboanga Sibugay towns after bird flu was detected in farms in Diplahan municipality. (Read more)

⚡ The Philippines donated 40 portable generators to Ukraine to support hospitals, schools, and civilian facilities affected by power disruptions. (Read more)

⚖️ Lawmakers urged authorities to act on ICC-related arrest warrants against Senator Bato dela Rosa after the Supreme Court denied a TRO. (Read more)

📹 Suspended Senate Sergeant-at-Arms Mao Aplasca claimed CCTV of a Senate shooting was spliced, but Jonvic Remulla denied it citing timestamps. (Read more)

✈️ Two Philippine Air Force pilots died after an SF-260 trainer aircraft crashed in Tuba, Benguet during a navigation training flight. (Read more)

North Korea has removed reunification language from its constitution, labeling South Korea a hostile state and granting Kim Jong Un exclusive nuclear authority, increasing tensions and raising risks of future border conflict escalation.

Japan’s Mass Allergy Crisis Traced to 1950s Reforestation Policy

Japan’s widespread hay fever affecting nearly half the population is linked to post-World War II reforestation that planted cedar and cypress trees across millions of hectares, producing heavy seasonal pollen nationwide.

Man Deported From Russia After Online Skirt Review

A young Uzbek man was arrested in Russia and later deported after posting a review of a women’s leather skirt online with a photo of himself wearing it, which authorities treated as extremist-related content. The case highlights Russia’s strict laws on LGBTQ-related expression and online content enforcement.

📝Agusan del sur provides free transport and tours for palaro delegates. (Read more)

📝 Firefighters save cat trapped in burning house in viral rescue video. (Watch here)

📝 Michael Jackson's ‘Billie Jean’ reaches no. 1 worldwide after 43 years. (Read more)

📝 6-year-old discovers 1,300-year-old sword on school trip. (Read more)