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The Philippines is gearing up for key trade negotiations with the US this May, aiming to lower tariffs on coconut exports and defend local interests in the poultry sector, according to Agriculture Secretary Francisco Tiu Laurel Jr. The delegation, led by Special Assistant to the President Frederick Go and DA Undersecretary Asis Perez, will tackle reciprocal tariffs, particularly on top export commodities.

The US was the largest buyer of PH coconut products in 2024, importing $556.3 million worth—25.68% of total coconut exports. Local producers are pushing for tariff cuts to make PH coconuts more competitive. The current US tariff rate on some products is 17%, which Tiu Laurel said may be better than what neighbors like Vietnam and Thailand face (35–40%), but there’s still room for improvement.

On poultry, the DA assured that the local sector won’t be flooded with imports. Instead, any shift will be a reallocation of import sources, with the US possibly gaining a bigger slice of the pie now dominated by Brazil (50.3% vs. US’s 33.5% in 2024 chicken imports).

Talks may also open doors for better market access on fisheries like tilapia and shrimp, where the PH could gain an edge due to its lower tariff rate—once the US ends its current temporary flat 10% rate across partners.

Cardinal Tagle Faces Scrutiny Ahead of Papal Conclave

Just days before the Vatican’s conclave on May 7, the Catholic Bishops’ Conference of the Philippines (CBCP) released a rare statement reaffirming its stance on clergy sexual abuse—widely seen as a defense of Cardinal Luis Antonio Tagle, who’s facing heavy criticism online.

The CBCP didn’t name names, but the timing was telling. Conservative Catholic circles, especially in Western media, have launched digital attacks on Tagle, accusing him of inaction on sex abuse cases when he served in the Philippines. A watchdog group even claimed he’d fail to curb abuse if elected pope.

The CBCP pushed back, highlighting Tagle’s active role in developing and implementing the 2003 “Pastoral Guidelines on Sexual Abuses and Misconduct,” and emphasized that since 2019, Tagle has held no authority over any local diocese. The group also stressed his Vatican advocacy for victims, including his emotional 2019 summit speech condemning cover-ups.

Beyond the abuse allegations, critics are resurfacing old videos—like Tagle singing John Lennon’s “Imagine”—to discredit him. But the version he sang excluded anti-religious lyrics, and has already been fact-checked.

As conclave buzz intensifies, Vatican watchers say the smear campaign signals one thing: Tagle is being seriously considered as Pope Francis’ successor. Whether it helps or hurts his chances, the Filipino cardinal is now firmly in the global spotlight.

PCIC eyes ₱5.5B budget to insure more Filipino farmers

The Philippine Crop Insurance Corp. (PCIC) is seeking a ₱5.5 billion budget for 2026, a ₱1B increase from its current ₱4.5B allocation, to expand coverage from 4.2 million to 4.8 million farmers. The budget has been stagnant for four years, but PCIC President Jovy Bernabe says they’re optimistic, noting their consistent 100% utilization rate and support from the Department of Agriculture.

The added funds could insure 600,000 more farmers, especially as the PCIC currently reaches only 47% of all farmers nationwide. While no additional funds were granted in the 2025 GAA, the agency still managed to boost coverage through support from LGUs and commercial clients in sectors like hogs, bananas, and tobacco.

The PCIC plays a vital role in shielding farmers from losses due to typhoons, pests, diseases, and even equipment damage.

PSEi: 6,354.99 ▲ +102.80 (+1.64%)
BSP Rates: 5.50% (borrowing) | 5.00% (deposit) | 6.00% (lending)

🌐 Global Markets

Bitcoin: $96,855.57.91 ▲ +0.44%
Gold: $3,247.40/oz ▼ -0.11%

💱 Exchange Rates (PHP per 1 unit)

🇺🇸 USD: ₱56.65
🇬🇧 GBP: ₱73.66
🇸🇦 SAR: ₱14.84
🇯🇵 JPY: ₱0.3841
🇪🇺 EUR: ₱63.05
🇦🇪 AED: ₱15.15
Note: Exchange rates may vary slightly depending on provider.

On Labor Day, Pag-IBIG Fund, NHA, and SHFC inked a deal to build 7,572 housing units in major cities as part of the government’s flagship 4PH (Pambansang Pabahay para sa Pilipino) program. Pag-IBIG will finance the projects through its Direct Developmental Loan Program, with sites in Valenzuela (372 units), San Fernando, Pampanga (3,440), Davao City (1,200), and Manila (2,560 units). The initiative aims to close the country’s housing gap and provide affordable, quality homes to underserved Filipino families. (More)

PH manufacturing rebounds in April, but post-election slowdown looms

The Philippine manufacturing sector bounced back in April, with the S&P Global PMI rising to 53—a sharp recovery from March’s 49.4, the lowest in 43 months. The rebound was driven by new orders, higher output, and increased purchasing activity, though international demand stayed flat. Despite the uptick, firms remain cautious: business confidence hit its second-lowest on record amid fears of waning post-election demand. Hiring was mostly flat, and inventories grew slower for the fourth straight month. (More)

OceanaGold remits ₱466.86M to PH gov’t, nears ₱1.6B in 2 years

Listed miner OceanaGold (PSE: OGP) has remitted ₱466.86 million in Additional Government Shares (AGS) for 2024, bringing its two-year total to nearly ₱1.6 billion under its Financial or Technical Assistance Agreement (FTAA) with the Philippine government. The AGS is on top of ₱870 million in excise taxes and ₱512 million in local taxes paid this year. The FTAA grants the government 60% of net revenue from the Didipio gold-copper mine in Luzon. Officials hailed OGP’s responsible mining and consistent remittances as vital to nation-building. (Read more)

First Gen, Chioson Group renew green power deal in Cebu

Lopez-led First Gen Corp. will continue supplying 2.1 MW of renewable energy to the Chioson Group and FLB Prime Holdings, powering steel plants and corporate offices in Cebu. The electricity will come from geothermal plants in Leyte, operated by First Gen subsidiary EDC. The partnership, which began in 2020, has helped Chioson avoid 5 million tons of CO₂ emissions. First Gen operates 13 geothermal plants and a broader RE portfolio including hydro, wind, and solar sources. (More)

Pacific Online pauses online gaming plans amid possible PIGO ban

Pacific Online Systems Corp. is hitting pause on its online gaming expansion due to regulatory uncertainty, as the government considers banning Philippine Inland Gaming Operators (PIGOs)—which cater to Filipino gamblers. The firm had invested ₱150 million for a 37.5% stake in Buenas e-Casino operator HHR Philippines Inc., but Chairman Willy Ocier said they won't be increasing their stake for now. “We can’t control regulation,” Ocier noted. Meanwhile, competitors like Bloomberry Resorts are pushing forward with online launches, while Ocier admitted there’s no racing against DigiPlus Interactive. “They’re three years ahead,” he said.(More)

PH pharma group launches “Iba ang Bakunado” to boost vaccine access

The Pharmaceutical and Healthcare Association of the Philippines (PHAP) has launched the "Iba ang Bakunado" campaign to promote life-stage vaccination and close immunization gaps. Backed by industry leaders like Pfizer, GSK, and Sanofi, the initiative stresses vaccines’ role in preventing over 30 diseases and easing health care costs—₱100 spent can save ₱5,400, PHAP says. The campaign aligns with DOH’s agenda and pushes for digital tracking, equitable access, and the introduction of new vaccines like dengue and RSV.(More)

Maria Ahtisa Manalo wins Miss Universe Philippines 2025.Third time’s the charm for Quezon’s Maria Ahtisa Manalo, who was crowned Miss Universe Philippines 2025 on May 2. Dubbed the "Pambansang Monyeka," Ahtisa beat a powerhouse lineup of pageant veterans in what fans call the "Puksaan Edition." After near-wins in 2018 and 2024, she finally clinched the crown with a heartfelt final answer honoring her late grandmother. Her win also breaks the so-called “Binibini Curse” and cements her as a comeback queen in Philippine pageant history.

Marvin and Jolina's 'Ex Ex Lovers' drops on Netflix May 20. Ex Ex Lovers, the much-awaited comeback film of Marvin Agustin and Jolina Magdangal, is finally heading to Netflix on May 20. The streaming platform confirmed the news with a nostalgic video of the duo signing throwback merch—including a Jolina doll and Marvin’s teen idol photo. Described as a ’90s-style rom-com with heart, the film is their dream project.

Popovich Steps Down as Spurs Coach, Stays On as President. Basketball legend Gregg Popovich is officially stepping away from coaching the San Antonio Spurs after nearly three decades, transitioning full-time to president of basketball operations. The 76-year-old, who holds the NBA record for career wins (1,422) and five titles, cited health reasons after recovering from a mild stroke. Assistant-turned-acting coach Mitch Johnson takes the reins permanently. Popovich will remain involved in daily franchise operations. His departure ends one of the most iconic coaching runs in sports history—one that shaped dynasties, players, and the game itself.

Tesla is in freefall across major EV-friendly European markets, with France (-59%), Sweden (-81%), Netherlands (-74%), and Switzerland (-50%) all reporting double-digit sales drops in April. Only Norway showed a modest 12% increase. The decline casts doubt on hopes that the new Model Y “Juniper” would spark a rebound. With Germany and the UK still to report, early signs suggest Europe is closing its doors to Tesla—and possibly to Elon Musk himself, whose recent political controversies may be turning off buyers. (More)

U.S. lawmakers urge SEC to delist Alibaba, other Chinese firms over security risks

Two Republican lawmakers are calling on the U.S. SEC to delist 25 Chinese companies, including Alibaba, JD.com, Baidu, and Weibo, citing national security threats and alleged ties to China’s military. They claim these firms benefit from U.S. investor capital while advancing the Chinese Communist Party’s strategic agenda, including military modernization and human rights abuses. The move revives investor concerns about forced delistings, amid ongoing U.S.-China tensions.

📦 Amazon Sellers Race Against Tariffs
Amazon sellers are panic-stocking to dodge the financial hit from the 145% Trump-era tariffs on Chinese imports—but analysts say it's a temporary fix with a ticking clock. Third-party merchants are rushing to bring in goods ahead of time, hoping to shield prices for now. CEO Andy Jassy confirmed that inventory was being pulled forward to keep costs low.

But once that stockpile runs out—likely in six months—price hikes, thinner margins, or both may be unavoidable. As analyst Gil Luria put it, "Then Amazon will have to take actions that are less palatable.And the pain might just be starting. With the de minimis exemption ending, even low-cost goods from China will face duties. Some sellers are already planning to skip Prime Day in July. (More)

The Modified Pag-IBIG II (MP2) Savings Program is a voluntary savings option offered by the Pag-IBIG Fund. Launched in 2010, MP2 was designed for members who want to save more than what the regular Pag-IBIG program requires and earn higher dividends while doing it. It's open to all active Pag-IBIG members, including OFWs, and is tax-free, flexible, and government-guaranteed.

You can start with just ₱500 per remittance, there’s no maximum limit, and the savings mature in 5 years. Plus, you can choose to receive your dividends annually or at the end of the term.

Imagine investing ₱5,000/month for 5 years. That’s ₱300,000 in total.

For OFWs looking for a safe, flexible, and high-yield way to grow savings back home, MP2 is hard to beat. It’s simple to open, easy to maintain, and proven to deliver results. Your money is working abroad—why not let it work harder at home too?

Tipid, kita, at peace of mind. That’s the Pag-IBIG MP2 promise.

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