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In the future, PesoWeekly will expand beyond news to provide investment guides, business insights, and practical tools for smart Filipinos. To make that happen, we need a team that values quality, honesty, and impact.

— The PesoWeekly Team

P.S. This issue covers the week’s biggest stories: the Davao earthquakes, the corruption scandal shaking investor confidence, new laws like the Free Funeral Services Act, and the US bill threatening millions of Filipino BPO jobs.

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Big picture
A widening corruption scandal tied to flood control projects is shaking investor trust and testing the Marcos administration’s commitment to transparency. Securities and Exchange Commission (SEC) Chairperson Francisco Ed. Lim warned that corruption is a “weapon of mass wealth destruction,” noting that investors are leaving not because of weak fundamentals but because “trust has broken down.”

Investor fallout
Philippine Ambassador to the U.S. Jose Manuel Romualdez earlier said corruption is discouraging U.S. investors from expanding in the country. In response, the government created the Independent Commission for Infrastructure (ICI) to investigate alleged fraud in public works and restore confidence in governance.

What analysts are seeing

Why it matters
Officials believe the ongoing probe could yield long-term benefits if it leads to cleaner governance and efficient public spending. But for now, the corruption fallout is a reminder that investor confidence depends not just on growth numbers, but on credibility and integrity in government.

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Big picture
The Philippines’ $35 billion business process outsourcing (BPO) industry, which employs nearly 2 million Filipinos, faces its biggest challenge yet. The proposed “Keep Call Centers in America Act of 2025” would penalize U.S. firms that offshore customer service jobs, cutting them off from federal loans and grants. With around 70% of clients based in the U.S., analysts warn the bill could slow growth and shake confidence in one of the country’s top dollar-earning sectors.

The double hit

So what
Industry leaders say adaptation is key. The Contact Center Association of the Philippines (CCAP) plans to upskill workers for roles in AI, data analytics, and cybersecurity, with ₱500 million in government funding approved for training. Experts believe the Philippines can keep its BPO crown but only if it evolves faster than the tech that’s threatening it.

Economists are sounding alarms over a proposal to abolish the Philippines’ 12% value-added tax (VAT), calling it “fiscally insane.” The tax makes up nearly a fifth of total government revenues, bringing in ₱487 billion in the first eight months of 2025. Removing it, they say, could cause a fiscal meltdown, spike inflation, and derail social programs. Some experts suggest lowering VAT to 10% and cutting loopholes instead, warning that populist tax cuts without reforms could crash the economy.

Business tycoon Manuel V. Pangilinan warned that the massive flood control corruption scandal could damage the Philippines’ BBB+ credit rating, slowing growth and scaring investors. Speaking at a Finex event, he said investor trust depends on strong “institutional responses” and accountability. The Management Association of the Philippines echoed his view, urging the government to act decisively. Pangilinan said good governance requires “competent and honest financial leaders” to fill gaps that allow corruption to thrive.

Maria Corina Machado, 58, is Venezuela’s main opposition leader and now a Nobel Peace Prize laureate. Once banned from running for president by Nicolás Maduro’s regime, she unified Venezuela’s fractured opposition and became a powerful voice for democracy. Forced into hiding after the 2024 election widely believed to be rigged, Machado reemerged to lead massive protests despite threats to her life. The Nobel Committee praised her for “keeping the flame of democracy burning amidst growing darkness.” A former engineer and activist, Machado has spent decades fighting for free elections and human rights in a country gripped by authoritarian rule.

Tokyo is trying a new way to boost birth rates by helping moms give birth with less pain. Starting this month, the city will subsidize epidurals, paying up to ¥100,000 ($673) for the procedure that eases labor pain. In Japan, only 14% of births use epidurals, compared to over 75% in the U.S. Many women skip it due to high costs, lack of anesthesiologists, or cultural beliefs that “natural pain” strengthens the mother–child bond. Officials admit the policy won’t reverse Japan’s baby decline overnight, but hope it removes one barrier to motherhood in a country with record-low fertility.

Taiwan’s economy ministry said China’s expanded export controls on rare earths won’t significantly affect its semiconductor sector. The newly restricted elements are different from those used in chipmaking, and Taiwan sources most of its needed materials from the U.S., Europe, and Japan. The ministry noted that the global supply chain for electric vehicles and drones could still feel the impact. China, which cited military concerns for the move, added five new rare earth elements to its export list just days before planned talks between Presidents Trump and Xi. Taiwan’s chip giant TSMC remains unaffected for now.

Scientists found that embryos can actually pause their growth when nutrients are low, acting like a built-in survival switch. In experiments with mice, researchers discovered that a sensor called Gator1 detects when carbohydrates and proteins drop, stopping development until food returns. Once nutrients were restored, the embryos started growing again. This process, known as embryonic diapause, could also happen in humans and might someday help improve fertility treatments. Instead of freezing embryos during IVF, scientists could pause them naturally through nutrient control, offering a simpler and potentially safer way to preserve life at its earliest stage.

A new study reveals that exercise helps people lose weight not just by burning calories but by dialing down hunger. Researchers from Baylor College of Medicine and Stanford found that a compound called Lac-Phe, produced during workouts, signals the brain to eat less. In mice, Lac-Phe shut off hunger-stimulating neurons and activated those that suppress appetite, leading to weight loss without side effects. The team discovered that Lac-Phe works through a protein called the KATP channel, which controls cell activity in the brain. Scientists hope this insight could someday lead to new, safer treatments for obesity.

A new study suggests that eating at least one egg per week may lower the risk of Alzheimer’s by nearly half. Researchers found that people who regularly ate eggs had fewer toxic brain proteins linked to the disease. The nutrients choline and omega-3 fatty acids in eggs are believed to help protect brain cells and support memory. The study followed over 1,000 seniors for nearly seven years and found that egg eaters were 47% less likely to develop Alzheimer’s. While the results don’t prove cause and effect, they highlight how small diet choices might help protect the aging brain.

Netflix is leveling up. Starting this week, subscribers can play games directly on their smart TVs using their phones as controllers. The new feature marks Netflix’s biggest step yet into gaming, moving beyond mobile and into living rooms. The first wave of titles includes party games like Boggle Party, LEGO Party!, Pictionary: Game Night, and Tetris Time Warp-all designed for group play. The goal? Keep people on Netflix even when they’re not binge-watching. For now, the games are only available on select TVs in certain countries, but the rollout will expand in the coming months.

Microsoft will officially stop supporting Windows 10 after October 14, meaning no more security updates or bug fixes. That leaves millions of computers vulnerable to hackers and malware. The tech giant is urging users to upgrade to Windows 11—but not all devices can handle it. Those stuck on older PCs can enroll in Microsoft’s Extended Security Updates (ESU) program, which offers limited protection until 2026. Critics say the move will push people to buy new devices, adding to e-waste. In short: if you’re still on Windows 10, it’s time to back up, update, or prepare to pay.

Newly appointed Ombudsman Jesus Crispin Remulla said his office is preparing charges against 12 to 15 lawmakers and contractors linked to the massive flood control corruption scandal. Investigators are reviewing up to 200 individuals, including 67 so-called “Cong-tractors” allegedly tied to fake or overpriced projects. Remulla vowed to pursue strong cases that can stand in court and announced plans to reopen access to public officials’ SALNs to boost transparency and allow lifestyle checks on government officials.

The Free Funeral Services Act (RA 12309) has lapsed into law, guaranteeing poor and crisis-stricken Filipino families access to free funeral services. The law institutionalizes aid from the Department of Social Welfare and Development (DSWD), covering embalming, burial, cremation, and even the casket or urn. Families must present IDs, death certificates, and a social case study to qualify. Funeral homes will be reimbursed by the DSWD. Those who fake documents or overcharge face fines up to ₱500,000 and jail time.

The death toll from the twin earthquakes that struck Davao Oriental and nearby provinces on October 10 has risen to eight, with 395 injured and nearly 491,000 people affected, according to the NDRRMC. The quakes, measuring magnitude 7.4 and 6.8, damaged over 2,100 homes and caused ₱100 million in infrastructure losses. Government agencies are now assessing housing aid and distributing relief packs, while the DPWH and OCD continue damage assessments and recovery efforts across affected regions.

Cavite Rep. Francisco “Kiko” Barzaga showed up at an anti-administration rally outside Forbes Park in Makati late Sunday night, just hours before facing a House ethics hearing. The 27-year-old lawmaker, who calls himself “congressmeow,” led chants of “Marcos resign!” and took selfies with supporters. Barzaga faces charges of unethical conduct and possible incitement to sedition after his recent protests and online posts using hashtags like #PeoplePower and #MarcosResign—a dramatic shift from his former support for Marcos in 2022.

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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

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