Good morning PesoWeekly readers. It’s Tuesday, Sept 23.

Super Typhoon Nando is moving away, but heavy rains still threaten much of the country. Stay safe, especially if you’re in flood-prone areas, and keep an eye on PAGASA advisories.

Our main story today: President Marcos and Vice President Sara Duterte are under fire after reports revealed millions in campaign donations from contractors later rewarded with billions in flood-control projects. Marcos says he’s open to investigation, but the question is whether accountability will reach the highest offices in the land.

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President Ferdinand Marcos Jr. and Vice President Sara Duterte are under scrutiny after a report by the Philippine Center for Investigative Journalism (PCIJ) revealed they received millions in campaign contributions from public works contractors despite an election law banning such donations.

Who gave and what they got
Tycoon Rodulfo Hilot gave Marcos ₱20 million, while Cebu’s Jonathan Quirante added ₱1 million. Both later saw a surge in government contracts, with Quirante Construction’s awards jumping to ₱3 billion in 2023. Hilot’s Rudhil Construction also grew to ₱3.5 billion a year later. Sara Duterte’s campaign benefited from ₱19.9 million in ads funded by Esdevco Realty, owned by Glenn Escandor, whose Genesis88 firm raked in billions in flood-control projects under the Duterte administration.

Political fallout
Malacañang says Marcos is “willing to be investigated” by both the Comelec and the Independent Commission for Infrastructure, which he created. The Vice President’s office has yet to comment. Meanwhile, Congress is in upheaval: Senate President Chiz Escudero was ousted over contractor-linked funds, and House Speaker Martin Romualdez resigned over questionable budget insertions.

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The Bangko Sentral ng Pilipinas has ordered banks to enforce a new daily withdrawal limit of ₱500,000 to curb money laundering tied to large cash transactions. Under BSP Circular No. 1218, bigger withdrawals must instead be coursed through checks, fund transfers, or digital channels. Banks may approve requests beyond the cap only if clients present proof of a legitimate business purpose and undergo enhanced due diligence, with suspicious transactions reported to regulators. The rule comes as authorities probe alleged flood-control project kickbacks, with the Court of Appeals recently freezing assets of 26 DPWH officials and contractors.

Two contractors linked to flood-control controversies have landed on BusinessWorld’s 2024 Top 1000 Corporations in the Philippines, which ranks companies based on their 2023 audited results. Sunwest, Inc., associated with Ako Bicol Rep. Elizaldy Co, placed 286th after reporting ₱14.34B in revenues in 2023, up 14.6% from 2022, though net income dropped 21% to ₱1.15B. Hi-Tone Construction, tied to former Rep. Christopher Co, ranked 642nd with ₱5.84B in revenues, up 4.9%, while profits fell 13% to ₱275M. Both firms were among 15 contractors flagged by President Marcos as cornering over ₱100B in flood-control projects between 2022 and 2025.

Metro Pacific Health Corp. has acquired a majority stake in Metro Antipolo Hospital and Medical Center, marking its 28th hospital investment and 17th in the provinces. The 109-bed facility, opened in 2016 along Marcos Highway, serves Antipolo and nearby Rizal towns as well as parts of Marikina and Pasig. MPH plans to upgrade the hospital with a new Urgent Care Center, modern equipment, and Rizal’s first private cardiac catheterization lab. Chairman Manny Pangilinan’s health arm has steadily grown since its first deal with Makati Medical Center in 2007, building a nationwide portfolio that now spans Luzon, Visayas, and Mindanao..

Trade Secretary Cristina Roque told lawmakers that many products sold online are “substandard,” as the DTI logged 18,494 consumer complaints in the first half of 2025, including thousands tied to e-commerce. To address this, the agency has rolled out the E-Commerce Philippines Trustmark, a digital badge meant to help shoppers identify legitimate sellers. The program is still voluntary, but under the Internet Transactions Act, it will eventually be mandatory for all online merchants. Roque said the trustmark is part of efforts to protect consumers, as DTI ramps up monitoring despite limited control over private online platforms.

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Corporate America went into scramble mode after President Trump announced a sudden $100,000 fee on H-1B visas, set to take effect Sunday. Tech giants including Amazon, Microsoft, and Google urged workers abroad to rush back before the deadline, fearing massive costs or blocked re-entry. HR teams tracked employees worldwide, while immigration lawyers fielded frantic calls. The White House later clarified the fee is a one-time charge for new visas only, not renewals or current holders, calming some fears but leaving many workers uneasy about travel. Immigration experts warn the move could be just the start of a broader crackdown on the H-1B program.

Chinese journalist Zhang Zhan, who exposed the early days of the COVID-19 outbreak in Wuhan, has been sentenced to another four years in prison, according to Reporters Without Borders. Zhang, 42, was first jailed in 2020 for “picking quarrels and provoking trouble” after posting videos from hospitals and deserted streets that challenged Beijing’s official narrative. Freed in May 2024, she was detained again just months later, with RSF saying the latest charges stemmed from her online comments. Press freedom groups condemned the ruling as persecution, noting China remains the world’s top jailer of journalists with at least 124 behind bars.

In a major break with past policy, the U.K., Australia, and Canada announced Sunday they will formally recognize a Palestinian state, with France and others expected to follow at the U.N. this week. Leaders framed the move as a bid to keep the two-state solution alive amid Israel’s ongoing Gaza offensive and West Bank settlement expansion. Israeli Prime Minister Benjamin Netanyahu condemned the recognition as a “reward for Hamas” and vowed to block Palestinian statehood. More than 140 countries already recognize Palestine, but the entry of close Western allies marks a diplomatic blow to Israel and could strain ties with Washington.

After comedian Vice Ganda fired up the Trillion Peso March rally by demanding the death penalty for corrupt officials, the Catholic Church quickly pushed back. CBCP president Cardinal Pablo Virgilio David said he understood the anger but warned capital punishment only punishes the poor, while the rich buy their way out. Vice called corrupt leaders “worse than killers,” but David argued true reform lies in fixing a justice system that shields the powerful. The fiery exchange unfolded as nationwide protests marked Sept. 21, the anniversary of Martial Law, amid a flood-control corruption scandal shaking Congress.

US border records show Ako Bicol Rep. Zaldy Co entered New York on August 26 and left on September 13, though his next destination remains unclear. Co earlier said he traveled for medical treatment, but his trip coincides with Senate testimony from contractors linking him to alleged kickbacks in flood-control projects. Co has denied the claims as “baseless, irresponsible, and politically motivated.” New House Speaker Bojie Dy revoked Co’s travel authority and ordered him back within 10 days of September 18. The House ethics panel is now weighing its options if Co fails to appear at the Batasan.

Cebu City is pushing for a ₱10–15 million feasibility study to update its obsolete 2005 Drainage Master Plan, with the goal of launching an ₱8.2 billion modernization project. Only 20% of the old plan was ever implemented, and officials now admit it no longer matches today’s realities of urban growth, climate change, and unfinished projects. The new study ,set for completion by late 2025 or early 2026 will guide phased construction led by DPWH and city engineers. While awaiting results, Mayor Nestor Archival has ordered desilting, proposed rainwater catchments, and is exploring dams with national agencies. Councilors stress regional cooperation is key.

The Professional Regulation Commission (PRC) assured that the integrity of the September 2025 Licensure Examination for Teachers remains intact after a contracted watcher in Davao was caught allegedly leaking test questions to review centers for ₱10,000. The suspect, a senior high school teacher was arrested by the NBI after reportedly using a hidden phone to photograph exam items. PRC-Davao Director Raquel Abrantes admitted the leak may have reached others before the test ended but stressed that no items will ever be reused. The teacher now faces administrative and criminal charges, with penalties including prison time and a lifetime exam ban.

Apple is turning up the heat on European regulators, accusing “bureaucrats in Brussels” of stripping away the “magic” of its tightly integrated ecosystem. The EU’s Digital Markets Act forces Apple to open up iPhones to rival devices—like letting third-party headphones, watches, and apps connect more easily. Regulators say it gives consumers real choice; Apple says it kills innovation, security, and user experience. The clash comes after Apple was fined €500M for anti-competitive behavior and just as it launches AirPods Pro 3 with “Live Translation”—a feature not rolling out in Europe for now. Apple warns EU rules risk making its products “like the other guys.”

US border records show Ako Bicol Rep. Zaldy Co entered New York on August 26 and left on September 13, though his next destination remains unclear. Co earlier said he traveled for medical treatment, but his trip coincides with Senate testimony from contractors linking him to alleged kickbacks in flood-control projects. Co has denied the claims as “baseless, irresponsible, and politically motivated.” New House Speaker Bojie Dy revoked Co’s travel authority and ordered him back within 10 days of September 18. The House ethics panel is now weighing its options if Co fails to appear at the Batasan.

Chip giant Nvidia is buying a $5B stake in longtime rival Intel, giving the struggling firm a major boost just weeks after a separate investment from the US government. The deal gives Nvidia about 4% ownership in Intel and pairs the two companies to build PC and data-center chips amid skyrocketing demand for AI. Intel’s stock jumped 25% on the news, while Nvidia added 3%. Once the king of semiconductors, Intel has lagged badly in the AI race, while Nvidia’s value has exploded past $4T. Nvidia CEO Jensen Huang called the partnership “a foundation for the next era of computing.”

Google heads back to court this week as a federal judge considers how to rein in its dominance over online advertising technology—a business worth $30B last year and 9% of Alphabet’s revenue. Judge Leonie Brinkema already ruled Google broke the law by tying together tools for publishers and ad exchanges, giving it an 87% market share. Now, the Justice Department wants Google forced to sell its ad exchange and share auction code with rivals, while Google proposes lighter reforms. The outcome could reshape its $3.1T empire and mark the toughest antitrust blow to Big Tech since Microsoft’s 2000s showdown.