Good morning. It’s Tuesday, Sept 9.

PesoWeekly readers corruption is once again at the center of national headlines, with flood control projects under fire for alleged kickbacks, ghost contracts, and billions lost to substandard work. As citizens, we cannot let outrage stop at anger alone, we must turn it into action by speaking up. If you see or know of corruption, share the evidence, raise it on social media, and help inform others instead of relying on second-hand accounts. We also have a duty to study how the national budget works, because awareness is power: an uninformed citizen can easily be played and controlled. We are firmly against violent protest, but we must be active in making it clear that we’ve had enough, and it’s time the Filipino people get the accountability and progress they deserve.

Got ideas or feedback? Email us anytime at [email protected].

Stay sharp,
Team PesoWeekly

Join nearly 20,000 smart, curious Filipinos who stay sharp with the news that matters.
📩 Sign up here.

President Ferdinand Marcos Jr. announced that the Department of Public Works and Highways (DPWH) will get zero funding for new flood control projects in the proposed 2026 national budget, citing ongoing corruption probes and ₱350 billion in unspent allocations from 2025. In his podcast, Marcos said this does not mean flood works will stop, but rather that current projects must be fixed and completed properly at the contractors’ expense.

Why it matters
The DPWH had asked for ₱250.8 billion for 2026, but Malacañang ordered a sweeping review after lawmakers flagged redundant and even completed projects still listed for funding. The House has suspended deliberations until DPWH and the Department of Budget and Management (DBM) submit corrections by September 16. Marcos warned that contractors linked to overpriced or substandard work must pay for repairs themselves.

This move signals a tougher stance on corruption but raises questions on whether stalled projects will further delay flood protection nationwide.

PSEi: 6,101.86
BSP Rates: 5.00% (borrowing) | 4.50% (deposit) | 5.50% (lending)
🌐 Global Markets
Bitcoin: $111,979
Gold: $3,633.25 - $3,635.98

💱 Exchange Rates (PHP per 1 unit)

🇺🇸 USD: ₱56.75
🇬🇧 GBP: ₱77.39
🇸🇦 SAR: ₱15.29
🇯🇵 JPY: ₱0.3882
🇪🇺 EUR: ₱67.69
Note: Exchange rates may vary slightly depending on provider.

A new play for investment
President Ferdinand Marcos Jr. has signed Republic Act No. 12252, extending foreign investors’ land leases to as long as 99 years. The law amends the 1993 Investors Lease Act, which capped leases at 50 years, renewable once for 25. Policymakers hope the longer terms will attract more capital into the Philippines, which has lagged behind neighbors like Vietnam, Thailand, and Malaysia in drawing foreign direct investment. From January to May this year, FDI into the country dropped 26.9% to just $3 billion, according to the Bangko Sentral ng Pilipinas.

The fine print
Foreign investors must still secure approval and registration under Philippine investment laws, and their leased land must be used strictly for the approved project. Certain safeguards remain in place:

Why it matters
For developers, 99 years offers the security to build long-term projects such as industrial estates, factories, hotels, and agro-tourism ventures. Property consultant David Leechiu called it a “massive opening” for foreign capital, noting it gives firms more time to recover investments. For the government, the move signals openness to business but also tests how far the Philippines can balance investment liberalization with safeguards on land use and national security.

Many young Filipinos are turning to “polyworking,” or holding multiple jobs, to survive rising prices and low wages. A 23-year-old who once earned ₱20,000 a month now juggles three jobs and takes home ₱70,000, while a 24-year-old works two full-time roles to afford her lifestyle. The Philippine Statistics Authority says the average monthly salary is just ₱18,423, and even with projected raises, it often falls short. While polyworking gives workers extra income and savings, it also leads to burnout, stress, and health problems. Labor groups argue that this trend reflects low wages and weak job security rather than true choice.

The Development Bank of the Philippines rolled out a ₱510-million program to widen access to quality education. Called DBP INSPIRE, the five-year plan will fund ₱437.5 million in scholarships covering tuition, allowances, and materials for at least 350 underprivileged students in its first year, focusing on fields like engineering, IT, agriculture, and maritime studies. Another ₱72.5 million will go to DepEd’s Adopt-a-School and Brigada Eskwela programs, upgrading 150 public schools. Partnering with nine universities nationwide, DBP says the initiative builds on its earlier ₱1.5-billion efforts that supported 5,000 scholars with job placement rates above 94 percent.

The Philippines needs up to ₱70 billion to hit its 2028 target of 100% household electrification, but next year’s budget will cover only ₱5 billion. Energy Secretary Sharon Garin said the government remains on track, tapping other income sources and focusing on far-flung Mindanao areas through the National Electrification Administration. As of June 2024, 27.3 million households have power, but about 291,000 still lack reliable service. The plan includes grid extensions, microgrids, and home systems. At the same time, the DoE ordered gas-fired plants to prioritize indigenous natural gas, with Malampaya remaining the country’s main domestic supplier.

The Department of Energy, AboitizPower, and Japan’s JERA Co. just launched a new training hub in Malvar, Batangas to sharpen the country’s energy workforce. Called the Global Technical Center of Excellence, the facility will focus on reskilling engineers and workers to keep pace with the fast-changing power sector. For now, only AboitizPower and JERA staff will join, with 24 trainees starting this month and 32 more in November. The partners say the center could later open to TESDA students for certification. Officials framed the move as an investment in people—seen as the real fuel for the Philippines’ energy future.

The national budget is the government’s master plan for how taxes and borrowings are spent. It goes through four main phases: preparation, legislation, execution, and accountability.

How the budget is created
The process begins with the Development Budget Coordinating Committee (DBCC), which sets targets for growth, inflation, and revenues. The Department of Budget and Management (DBM) then issues a “Budget Call,” asking agencies to submit proposals. These are consolidated, reviewed, and submitted by the President to Congress as the National Expenditure Program (NEP).

Congress debates the NEP, with the House Appropriations Committee and Senate Finance Committee holding hearings and proposing amendments. After reconciling differences in a bicameral conference, the President signs the General Appropriations Act (GAA). Implementation follows: DBM releases funds to agencies, which then award contracts and roll out projects. Finally, the Commission on Audit (COA) checks how money was spent and if projects delivered results.

Why it matters
The budget directly affects Filipinos’ safety and welfare, which is why the ongoing flood control scandal has triggered nationwide anger. Despite ₱545 billion allocated since 2022, Senate hearings revealed contractors and lawmakers colluding on overpriced, ghost, and substandard projects—often with kickbacks as high as 25%. At least 15 contractors cornered ₱100 billion, yet devastating floods in July displaced hundreds of thousands. The scandal highlights how corruption in the budget process robs citizens of infrastructure meant to protect lives, fueling distrust in government and demands for stronger accountability.

At least 19 people were killed and more than 145 injured as police clashed with protesters in Nepal, marking the country’s worst unrest in decades. The demonstrations, led largely by young people, erupted after the government blocked Facebook, Instagram, YouTube, and other platforms, citing misuse. Protesters stormed parliament in Kathmandu, chanting “Unban social media” and “Shut down corruption, not voices,” before facing tear gas, rubber bullets, and live fire.

Frustration runs deep
The unrest reflects years of pent-up anger at corruption and a lack of economic opportunity. Nepal has seen 14 governments since abolishing its monarchy in 2008, none completing a full term. Many young Nepalis continue to migrate abroad for work and study, citing disillusionment with their leaders’ inability to create jobs or fight graft.

What happens next
Interior Minister Ramesh Lekhak resigned over the violence, while Prime Minister K.P. Sharma Oli called an emergency cabinet meeting. Human Rights Watch urged restraint, warning that treating the protests as a policing problem risks fueling further unrest.

A U.S. judge handed Google a partial victory by rejecting the Department of Justice’s push to break up its Chrome browser, even after finding the company illegally monopolized online search. Judge Amit Mehta said a divestiture would be a “poor fit” but still imposed restrictions: Google can no longer sign exclusive deals to prioritize its products and must share some data and syndication services with rivals. The ruling offers Google relief after recent antitrust losses, though the company plans to appeal the monopoly finding. Meanwhile, the DOJ is calling the decision a “major win” and weighing further action.

AI firm Anthropic has agreed to pay $1.5 billion to settle a piracy lawsuit filed by authors who accused the company of using millions of pirated books to train its Claude chatbot. The deal, still subject to court approval, is being called the largest copyright recovery in history and the first major settlement of its kind in the AI era. Best-selling writers including Andrea Bartz and Charles Graeber led the case, which was set for trial in December. While a judge previously ruled Anthropic’s use of books was legally “transformative,” he allowed claims tied to pirated copies to proceed.

Tesla has unveiled a record-shattering incentive plan that could make Elon Musk the world’s first trillionaire. The deal requires Musk to raise Tesla’s valuation from just over $1 trillion today to $8.5 trillion within 10 years. If successful, Musk’s stake would jump from 16% to more than 25%, boosting his net worth beyond $2 trillion. The pay package includes ambitious milestones such as deploying 1 million robotaxis and 1 million humanoid AI bots. While Tesla’s board calls Musk its “visionary leader,” critics question whether one man can be worth so much and warn of excessive corporate governance.

A new study from suggests that the right playlist might calm your stomach on winding road trips. Researchers put 30 participants through a motion-sickness driving simulator while tracking brain activity. Those who listened to cheerful music recovered 14% faster than those who meditated, while soft music helped by 13.4%. Sad music, however, made things worse, slowing recovery compared to doing nothing. Scientists say uplifting or relaxing tunes may boost brain activity linked to comfort and reduce nausea. Though the study was small, it adds to evidence that music can be a simple, drug-free fix for carsickness.

New research suggests that a fading sense of smell could be one of the earliest warning signs of Alzheimer’s disease, appearing before memory loss or other cognitive decline. Scientists from Germany found that immune cells in the brain, called microglia, mistakenly cut off nerve connections between the olfactory bulb (which processes scents) and the brainstem’s locus coeruleus. This breakdown, triggered by abnormal neuron activity, disrupts odor perception. The findings, published in Nature Communications, point to an immune-driven cause of smell loss in Alzheimer’s and may help doctors identify at-risk patients earlier for more effective treatment.

A large clinical trial has found that just one strong dose of LSD can ease anxiety and depression symptoms for months in people with generalized anxiety disorder (GAD). The study, published in JAMA, tested 198 adults and showed that only higher doses (100–200 micrograms) of a proprietary LSD drug called MM120 produced significant improvements, with effects lasting at least 12 weeks. Researchers noted participants often improved as early as the next day. While the treatment appears safe and effective, experts say environment and mindset during the psychedelic experience may influence results. FDA fast-tracked MM120, with Phase 3 trials underway.

Researchers from the Autonomous University of Barcelona and international partners have found that ordinary ice is “flexoelectric,” meaning it produces electricity when bent or unevenly deformed. Published in Nature Physics, the study shows that ice can generate electric charge at all temperatures, with a special ferroelectric surface layer forming below –113°C. This breakthrough not only puts ice in the same category as advanced electroceramics used in sensors and capacitors, but also offers a new explanation for lightning. Collisions between ice particles in clouds may create charge through flexoelectricity, helping trigger the massive electric discharges we see as thunderstorms.

Japanese researchers may have found a gentler way to save your white shirts from ugly yellow armpit stains. A study by Asahi Kasei scientists shows that high-intensity blue LED light can break down compounds like squalene and beta-carotene the culprits behind yellowing through a process called photobleaching. Unlike bleach or UV light, which can weaken fabric, the blue light removed stains from cotton, polyester, and even silk without harm. The method uses only visible light and oxygen, avoiding harsh chemicals, and could pave the way for sustainable stain-removal tech for both homes and industries.

Adalo – Build native mobile and responsive web apps with drag-and-drop tools, templates, and third-party integrations.

Bubble – Flexible platform for custom web apps with deep customization and a large plugin marketplace.

Softr – Beginner-friendly builder that turns Airtable or Google Sheets into functional web apps.

GoodBarber – Design-focused tool for sleek native apps and PWAs, great for e-commerce and content projects.

Thunkable – Simple platform to create and publish Android and iOS apps visually with instant testing.