Good morning.

Today’s issue follows the money: LGUs are set for record 2027 allotments, the government eyes ADB support, and power costs remain a pressure point.

Also, we’re looking for a part-time producer for one weekly project. Know someone creative? Email [email protected] and join our small media troublemaking team soon.

Stay Sharp.

Big picture: Local government units are set to receive a record ₱1.32T in National Tax Allotments in 2027, up ₱129.32B from 2026, Executive Secretary Ralph Recto said. The amount is based on 2024 national tax collections and follows the formula required by law.

By the numbers: Provinces and cities will each receive about ₱303.6B, municipalities ₱448.7B, and barangays about ₱264B. Funding will come mostly from BIR collections at ₱990.68B, plus ₱329.09B from Customs and ₱63.6M from other Treasury-certified collections.

Why it matters: Recto said Marcos sees the shares as people’s entitlements and wants LGUs as partners in national projects, including school infrastructure through DepEd partnerships.

The Philippines plans to ask ADB for $1.5B in rapid budget support as Middle East tensions hit oil, fertilizer, shipping, and commodity costs. The funding would help support the government’s Uplift relief package for vulnerable sectors, though approval still depends on ADB’s review process.

MGEN, Vietnam Partner Target 25,000MW Clean Energy Pipeline

Meralco PowerGen Corporation and Vietnam’s VinEnergo Energy signed an agreement to explore a massive 25,000MW renewable energy and storage pipeline in the Philippines. The project could deliver up to 5,000MW of baseload-equivalent power while supporting energy security, battery storage deployment, and future electric vehicle charging infrastructure nationwide.

Gokongwei’s ₱2B Bet Sends PhilWeb to 10-Year High

PhilWeb shares surged to their highest level since 2016 after billionaire Lance Gokongwei agreed to invest ₱2.03 billion in the gaming technology firm. The stock jumped 8.22% as investors cheered plans to use fresh capital for AI integration, technology upgrades, and expansion of its digital gaming platforms.

Power Hikes to Be Spread Out Until August

Around 30 electric cooperatives in Luzon and Visayas asked regulators to stagger June electricity rate increases over three months to ease the burden on consumers. The hikes, ranging from ₱2 to over ₱3 per kWh, stem from costly power purchases during repeated grid alerts and unplanned plant outages.

Fresh from her Berlin Open semifinal run, Alex Eala joins forces with tennis icon Venus Williams in doubles action as they begin their Bad Homburg Open campaign. (Read more)

Thousands bid farewell to Rene Baterbonia

A sea of mourners filled the streets of Agusan del Sur as family, friends, and supporters laid promising Ateneo recruit Rene Baterbonia to rest, honoring the young athlete whose tragic drowning deeply touched communities nationwide. (Read More)

F4, Ashin donate ₱5M for Mindanao quake relief ahead of PH concert

F4 members Jerry Yan, Vanness Wu, Vic Chou, and Mayday’s Ashin donated ₱5 million for Mindanao earthquake relief, supporting aid efforts ahead of their highly anticipated Philippine concert this week. (Read More)

Big picture
Mynt’s planned IPO has moved into execution after board approval to file a listing application with the PSE, according to AB Capital. Reports cited in the note point to at least US$8B valuation and a fundraise above US$1B, with filing possible this month and launch indicated for 4Q26.

By the numbers
The offer is expected to create a 12% post-IPO free float through primary and secondary shares. Mynt contributed 30% of Globe’s 1Q26 profit before tax, while earnings grew at a 66% CAGR from 2022 to 2025.

Why it matters
AB Capital raised Globe’s target price by 10% to ₱2,200, saying market pricing for Mynt could clarify Globe’s digital value.

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.

The Department of Science and Technology and NMBLR AI signed a partnership to train government employees in artificial intelligence, aiming to strengthen AI skills and support future innovation opportunities. (Read more)

Researchers at Yale University developed a brain-computer interface that lets users control video game characters using brain activity alone, with participants learning the system in under an hour. (Read more)

SpaceX is exploring space-based data centers to meet growing AI computing demands. While orbital facilities could use constant solar power, challenges include cooling systems, radiation, maintenance costs, and space debris risks. (Read more)

A humanoid robot dressed in a kilt and tartan sash joined Scotland supporters in Miami, dancing and marching with fans ahead of their World Cup match against Brazil. (Read more)

Asteroid To Pass Earth This Saturday

Asteroid 1997 NC1 will make a close but safe pass by Earth on Saturday, coming within 2.56 million kilometers. Stargazers may spot it with binoculars or a small telescope.

Interstellar Comet May Be Oldest Object In Solar System, Scientists Say

Scientists say interstellar comet 3I/Atlas may be up to 12 billion years old, predating the solar system, based on James Webb Space Telescope and ALMA observations, NASA researchers report findings.

France Confirms First Ebola Case Amid Africa Outbreak

France has confirmed its first Ebola case involving a doctor returning from the Democratic Republic of Congo amid ongoing outbreak concerns in Africa health officials said on Wednesday reports AFP

Scientists Discover How Queen Bees Are Made

Scientists found queen bees are not created only by royal jelly. Worker bees build royal cribs, control temperature and humidity, and collectively nurture larvae into queens with dedicated attendants system

🕵️ Police are probing possible influences behind the Tacloban school shooting, including online activity and similarities to past attacks. (Read more)

🛬 Starting June 25, eligible Filipinos with visas or residency from eight countries can obtain UAE visa-on-arrival privileges.(Read more)

🏗️ Davao City allocates P108M for Bahay Pag-asa facility for girls, expanding rehabilitation services for female minors in conflict with law. (Read more)

💼 DOLE urges construction firms to adopt Progressive Wage Model, linking pay increases to skills, productivity, and structured wage progression. (Read more)

⚠️ Grade 9 student stabbed by schoolmate in Negros school violence incident following recent Tacloban shooting, police cite personal grudge. (Read more)

South African correctional facilities have launched prison art galleries featuring inmate works as part of rehabilitation programs aimed at reducing repeat offending officials said visitors can now view and purchase artworks inside prisons.

Dyed Pigeons Used in Gender Reveal Spark Concern in Arizona

Bright blue pigeons dyed for a gender reveal in Queen Creek raised wildlife concerns over safety and predation, though organizers said non-toxic dye was used and most birds returned home safely.

Australian Town Crier Named World’s Loudest Person By Guinness World Records

An Australian honorary town crier has been named the world’s loudest person after shouting “now” at 122.4 decibels during a Guinness World Records attempt in Canberra, Australia.

📝 Filipino-inspired animated film “Forgotten Island” drops trailer, set for September release in PH cinemas. (Read more)

📝 Canada releases new coins honoring Filipino Canadians featuring cultural symbols. (Watch here)

📝 House turned into Meccha Chameleon map after unexpected transformation spread throughout home. (Watch here)

📝 The Moffatts Return to PH for ‘Music Travel Love’ concert tour dates set in CDO, Cebu, Manila. (Read more)