Good morning. It’s Tuesday, July 29.

Editor’s Note: Where We’re Headed

Hey PesoWeekly readers, quick update from behind the scenes. I started PesoWeekly 3 months ago, but the vision began years back. I saw how mainstream media was drowning us in noise, distractions, and surface-level headlines. Filipinos deserve better content that informs, sharpens, and actually empowers.

That’s the goal: to give you credible news, practical explainers, and tools to think critically in a world built to confuse you. Right now, we’re a lean team of three. But we’re growing fast — nearly 100K followers on IG, over 30M monthly views, and more daily messages than we can reply to. This newsletter is just Phase 1.

Coming soon: dedicated verticals like PesoDaily (culture & light news), PesoSports, and PesoMind all delivering high-quality, Pinoy-focused content. We’re self-funded for now, and staying selective about partnerships. Our promise: no fluff, no noise, just sharp, relevant news that helps you win.

Follow us on Instagram for the best updates while we build out this next chapter.

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

Melvz
Team PesoWeekly

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

Big picture:
President Marcos Jr.’s fourth SONA was packed — 90+ minutes of promises covering everything from P20 rice and free DOH hospital bills to a national solar push and the return of the “Love Bus.” He framed his speech around “quick delivery” of services and better lives for Filipinos. But behind the applause lies a growing question: will any of it truly reach the ground?

Bold promises, again:
Marcos declared victory on affordable rice, free college for 2 million students, and expanded health access. He also called for:

What’s new vs. recycled:
Many proposals echo earlier speeches. P20 rice? First promised in 2022. Infrastructure and digital inclusion? Ongoing, not new. The speech was more an inventory of intent than a report card.

Why it matters:
With just under 3 years left, Filipinos want more than headlines. They want execution. The big test will be turning this wishlist into reality — not just for the cameras, but for classrooms, hospitals, and homes.

PSEi: 6,379.75
BSP Rates: 5.25% (borrowing) | 4.75% (deposit) | 5.75% (lending)
🌐 Global Markets
Bitcoin: $118,070
Gold: $3,332.46 - $3,337.03

💱 Exchange Rates (PHP per 1 unit)

🇺🇸 USD: ₱57.23 (around these values, with slight variations)
🇬🇧 GBP: ₱76.93
🇸🇦 SAR: ₱15.34
🇯🇵 JPY: ₱0.3867
🇪🇺 EUR: ₱66.697
Note: Exchange rates may vary slightly depending on provider.

The Philippines just wrapped its third round of free trade agreement (FTA) talks with the EU, with momentum clearly building. The deal, which could replace the current GSP+ perks, promises deeper market access for PH exports and investors. In 2024, PH-EU trade hit $15.5B—making the EU the country’s 5th-largest trading partner. With 19 chapters discussed, including digital trade and sustainable development, the FTA could become the most comprehensive in PH history. Next round? October in Manila.

The Bangko Sentral ng Pilipinas is signaling two more rate cuts this year but no promises just yet. Governor Eli Remolona told Reuters the easing cycle is intact, with timing hinging on how inflation and growth behave. June inflation stayed at a comfy 1.4%, while Q2 GDP is expected to outpace Q1’s 5.4%. A trade deal with the U.S. also eased some jitters, despite Trump’s new 19% tariffs. Remolona warned, though: don’t mess with central bank independence, it’s a shortcut to inflation.

Meralco PowerGen (MGEN) is charging ahead with its controversial 1,200-MW coal-fired power plant in Atimonan, Quezon after the DOE confirmed it’s exempt from the 2020 coal moratorium. The plant will use ultra-supercritical “HELE” tech designed to be cleaner than old-school coal and could power 5 million households while shaving ₱12B off electricity costs annually. Critics will side-eye the “sustainability” claim, but MGEN says this project is about energy security. It’s also investing in solar, LNG, and batteries, signaling a “yes, but” approach to energy transition.

Cerberus Capital Management is adding $250 million (₱15B) to its Philippine investments, focusing on upgrades to the Agila Subic Shipyard and key infrastructure projects. The New York-based firm already spent $40M revitalizing the former Hanjin shipyard, now home to HD Hyundai Heavy Industries, SubCom, V2X, and the Philippine Navy. Hyundai will start shipbuilding in Q4 2025—earlier than expected. Cerberus also plans to expand into energy, logistics, and transport nationwide.

PH vehicle sales rose 3.6% year-on-year in June to 40,483 units, as booming commercial vehicle demand offset a steep 35% drop in passenger car sales. Trucks, vans, and AUVs made up nearly 83% of sales, led by light commercial vehicles (+25.3%). Meanwhile, consumers stayed cautious with car purchases, citing high interest rates, fuel costs, and economic uncertainty. EVs showed mixed signals—sales dipped 15.4% in June but still hold a 5.84% market share for 2025.

Some Filipino money beliefs sound harmless even wise. But deep down, many of them keep us stuck in survival mode.

Let’s bust a few of the most common ones.

1. “Bahala na si Batman”
We’ve heard it before: “God will provide.” Faith is powerful, yes — but it’s not a substitute for a budget. Blind surrender leads to missed opportunities.
✅ Wais move: Combine faith with a solid financial plan.

2. “Mag side hustle ka para yumaman”
We glorify working 3 jobs — but if they all pay minimum, that’s just burnout.
✅ Wais move: Focus on high-value skills. One good job > three low-paying ones.

3. “Kahit lupa sa bundok, basta lupa!”
Not all land is gold. Some properties don’t appreciate. Some are just grass with a title.
✅ Wais move: Study the market. Think ROI, not just ownership.

4. “Basta graduate ka, okay na buhay mo”
A diploma is a good start — but it won’t guarantee success. Many degree-holders are still underpaid and overworked.
✅ Wais move: Learn skills that pay. Build networks. Don’t stop at graduation.

5. “Bawal umutang. Masama ’yan.”
All debt isn’t bad. It’s how you use it that matters.
✅ Wais move: Use debt to build, not to flex. Business loan? Maybe. Lazada haul? Think twice.

6. “Investing is only for the rich”
Waiting to get rich before investing is like waiting to get fit before going to the gym.
✅ Wais move: Start with what you have. Learn. Grow.

7. “The economy is hopeless, so why try?”
This silent myth fuels apathy. But giving up guarantees nothing changes.
✅ Wais move: Start small. Stay sharp. Build better habits.

After days of high-stakes negotiations in Scotland, the U.S. and European Union struck what President Donald Trump called the “biggest trade deal in history.” The agreement imposes a 15% blanket tariff on most EU goods entering the U.S.—a drop from Trump’s earlier threat of 30%, but still a significant jump from pre-2025 levels. In exchange, the EU will cut its tariff on U.S.-made cars from 10% to 2.5%. While both sides are claiming victory, the real picture is far more nuanced.

Winners and Losers, Sector by Sector
U.S. carmakers gained a competitive edge in Europe thanks to lower EU import duties. U.S. energy companies are celebrating too, with a massive $750 billion EU commitment to buy American LNG, oil, and nuclear fuel. Aerospace and aviation firms on both sides will benefit from tariff exemptions on plane parts and select chemicals. Stock markets reacted positively, with gains across Asia and Europe following the deal announcement.

But for others, the picture is less rosy:

A Deal Still in Flux
Despite the headlines, the deal remains more of a framework than a finalized agreement. Each of the EU’s 27 member states must sign off, and key sectors still await details. While Trump gets his win and the markets get clarity, long-term pain points—from consumer costs to industrial strain—may just be beginning.

At least 17 people have died in Turkey as wildfires rage across the eastern Mediterranean, fueled by record heat and brutal winds. Two volunteer firefighters were the latest victims after their tanker overturned en route to a blaze near Bursa. In Eskisehir, 10 rescue workers died last week alone. More than 3,500 residents have been displaced, and disaster zones were declared in Izmir and Bilecik. Turkey faced 44 separate fires in a single day, while authorities launched legal action against nearly 100 suspects.

More African countries are telling foreign miners: process it here or don’t take it at all. Zimbabwe, Africa’s top lithium producer, plans to ban raw mineral exports by 2027. The goal? Force companies to build local processing plants and create jobs—already 5,000 and counting. Export earnings jumped from $70M to $600M in just one year. The U.S. wants African critical minerals for EV batteries, but new export bans from Gabon to Namibia complicate that pitch. China’s ahead, building billion-dollar refineries across the continent.

A new proposal from the Australian government would ban social media for anyone under 16, no exceptions, no parental consent. That means no TikTok, no Instagram, no loopholes. Parents like Anthea Dare, who’s tired of saying no to her middle schooler every day, are relieved. “It’s a signal to parents to say, it’s OK to say no,” she said. The law, expected later this year, would make tech companies responsible for keeping underage users off their platforms or face penalties. Users wouldn’t be fined, but platforms like Meta and TikTok might.

A woman in China is now living insulin-free after receiving a stem cell transplant that reversed her Type 1 diabetes a world-first breakthrough. Doctors at Peking University turned her own cells into insulin-producing ones and implanted them back. Within months, her body started producing insulin naturally again. While challenges remain including immune rejection and accessibility, this proof-of-concept could change how we treat one of the most burdensome chronic diseases.

Translation: Daily insulin might be on the way out. Science just hit a major milestone.

Researchers at ETH Zurich have developed MenstruAI, a smart sanitary pad that detects cancer and inflammation markers using menstrual blood. The pad contains a color-changing test strip, similar to a COVID test, which users photograph with an app. The AI-powered system then analyzes biomarker levels linked to diseases like ovarian cancer and endometriosis.No wires, no hospital visits just a pad and a phone.

Translation: Women's health is finally getting the tech upgrade it deserves.

New research presented at a cardiology conference in London suggests sleeping in on weekends could cut heart disease risk by up to 20% especially if you're running on less than 7 hours during weekdays. Scientists tracked 90,000 Brits and found that the sleep-deprived who snoozed longer on weekends were significantly less likely to develop heart conditions like stroke, heart failure, or atrial fibrillation. Caveat: The study isn’t peer-reviewed yet, and it doesn’t prove causation. But it’s a solid reminder that sleep isn’t just rest, it might be heart medicine too.

Leyte Rep. Martin Romualdez secured a second term as House Speaker with 269 votes, dodging rumored challengers but triggering new fractures. A larger minority bloc and a fresh “independent” group including three Dutertes and Albee Benitez—signaled growing unrest. Critics blasted Romualdez over budget secrecy, failed midterm bets, and political maneuvering, calling the House a “game of thrones.” While the Marcos cousin maintains control, he now faces louder opposition, deeper distrust, and a Congress less willing to comply quietly.

In his fourth SONA, President Marcos Jr. promised real reforms for public school teachers: fewer admin tasks, more pay, and digital upgrades. Nearly 100 paperwork duties were scrapped, cutting workloads by 57%, and remaining forms will soon be submitted online using new laptops. Teachers will also start receiving pay for overtime and teaching overload this school year. The tax-free teaching supplies allowance is now ₱10,000, and 60,000 new teaching jobs are being created to ease class sizes. A Teacher Education Excellence Center is set to launch in 2025.

The Philippine Supreme Court has halted the impeachment of Vice President Sara Duterte, citing a constitutional rule that bars multiple impeachment proceedings in a year. The case stemmed from bombshell accusations including misuse of funds and a chilling threat to kill President Marcos Jr. The ruling spares Duterte from ouster until at least 2026, clearing the path for a potential 2028 presidential run. But this isn't an acquittal, just a legal technicality. With Duterte-Marcos tensions still boiling, and her father now facing trial at The Hague, Philippine politics isn’t calming down anytime soon.

BPI AIA Free Courses – Simple video lessons on budgeting, saving, and financial planning. Click here

The Richest Man in Babylon by George S. Clason: Timeless money lessons told through short, easy parables. Available on any bookstores

Philippine Spirits by Jean Karl Gaverza – A digital archive of 2,000+ mythical creatures and deities from Filipino folklore. Find it on: Philippine Spirits

🎙️The Koolpals:  Pinoy comedians talk life and pop culture with jokes, banter, and big laughs. Click here

The Psychology of Money by Morgan Housel: Why how you think about money matters more than what you know. Available in all bookstores.