Business 360 with Apa Ongpin | May 13, 2026

Added: 2026-05-14

[00:00:16]Good afternoon. Welcome to Business 360, your complete view of the stories driving business, markets, and the economy. I'm Apa Oen, and this is the Billionario News Channel.

[00:00:31]United States President Donald Trump is set to meet Chinese leader Xi Jinping in Beijing. Markets are watching trade, tariffs, AI, and the war in Iran.

[00:00:44]Shiao Filipinas shakes up its board.

[00:00:46]Robina Gokong P and Babes Singon join as independent directors as two long-erving directors reach the SEC's 9-year term limit.

[00:01:00]And the House names the team that will prosecute Vice President Sarah Duterte before the Senate impeachment court.

[00:01:11]Big moves today from some of the country's most watched corporate names.

[00:01:15]A boardroom reset at Shell Filipinas. A global index setback for Jollibee. And new earnings numbers from Ayala Corporation and JG Summit. Business anchor Robert Tan has our top corporate stories.

[00:01:31]>> Shell Filipinas is refreshing its board as the Security and Exchange Commission's 9-year term limit for independent directors starts to impact some of the country's biggest listed companies. The company has named Gongwe group leader Robina Gokong P and former public works secretary Roelio Babe Singen as independent directors. They replace Ayala Corporation director Fernando Zabel Ayala and Far Eastern University President Lydia Ed Sha who stepped down after reaching the SEC's term limit. The SEC ruling took effect February this year as part of a push to strengthen board independence and corporate governance after reporting weaker earnings. Jollibee Foods Corporation is facing new index pressure. Jollibee will be removed from the MSCI Philippine Standard Index after the close of trading on May 29. The fast food giant will move to the Msei small cap index, reducing the number of Philippine companies in the standard index to 10. Ayala Corporation posted flat core net income of 11.2 billion pesos in the first quarter, excluding one-off items. High earnings from BPI and Globe along with contributions from AC Energy and infrastructure helped offset soft results from Ayala Land. But including oneoff items, Ayala's net income fell 5% to 12 billion pesos. The company said the decline was mainly due to a high base last year when it booked a dilution gain from MUFG's investment in mint. Results were also weighed down by Yala's reduced stake in Mint and lower dividend income from Manila Water.

[00:02:58]And JG Summit Holdings reported higher first quarter consolidated revenues up 7% to 99.9 billion pesos. The Gong Way conglomerate said the growth was driven by record passenger numbers in its air transport business, sustained volume growth in branded foods, and high recognized residential revenues from his real estate arm. Robert Tan, Business 360.

[00:03:22]Bank of Commerce grew profits despite a volatile first quarter as stronger core banking income offset trading losses.

[00:03:31]The San Miguelbacked lender posted 976.19 million pesos in net income, up 13% from a year ago. Net interest income jumped 20% to 2.98 billion pesos, supported by higher loans and receivables and income from investment securities. That helped cushion a drop in fees and commissions as well as losses from trading and investment securities.

[00:03:59]Local shares slid for a second straight session with Jollibee's sharp drop adding pressure to the market. The Philippine stock exchange index settled at the 5,900 level. Only the financial sectors ended higher while mining fell more than 1%. Among the most active stocks, Jollibee Foods was the biggest loser, falling more than 7%. the uh drop followed weaker first quarter quarter results and Jollibee's removal from the MSCI Philippines standard index >> and today we had an MSI rebal uh we saw the Philippines weight dropped again and an index removal uh from large cap to uh from standard to small cap which is Jollibee and that is not good for the market.

[00:04:48]>> It the market shrinks because of that.

[00:04:50]So again from from our perspective we need to somewhat anchor those stocks in the Msei in order to provide a support for for those names.

[00:05:04]>> Tech shares are giving Asian markets a lift as investors buy back into AI linked stocks ahead of the Trump she meeting. China and Hong Kong shares pushed higher after investors snapped up early losses in AI related names. The Shanghai Composite shook off early declines and is now flirting with an 11-year high. South Korea's Cosby posted some of the region's biggest gains, climbing nearly 3%.

[00:05:32]Investors are watching the face-to-face meeting between US President Donald Trump and Chinese leader Xiinping.

[00:05:40]Analysts say even modest progress such as extending the tariff truce or easing tensions around chips and supply chains could give stocks on both sides another boost.

[00:05:54]The rebound in Asian stocks comes even after Wall Street fell overnight. The S&P 500 slipped 2/10en of a percent while the Nasdaq lost 7/10.

[00:06:06]Consumer inflation in the US posted its biggest increase in 3 years. That has raised the risk that the Federal Reserve may have to raise interest rates sooner than expected.

[00:06:20]What to watch out for in US President Donald Trump's meeting with Chinese leader Xi Jinping?

[00:06:27]Business 360. We'll be right back.

[00:06:32]Heat. Heat.

[00:07:57]Welcome back to Business 360. I'm Aangpin. Tonight, US President Donald Trump will be in Beijing for a high stakes meeting with Chinese leader Xi Jinping. The summit comes as two of the world's biggest economies or the world's two biggest economies try to keep a fragile trade truce from breaking down as the Middle East conflict weighs on global markets. Trump is traveling with a high-powered business delegation, including Tesla CEO Elon Musk, Apple CEO Tim Cook, and other top US executives.

[00:08:34]Trump says he will push she to open China's market to more American business, but expectations are modest.

[00:08:41]Analysts say any deal will likely be limited enough to keep US China tens USChina tensions from flaring up again.

[00:08:51]Apart from the war in Iran, the Taiwan issue was also expected to come up at the Trump Xi summit. But even before Trump arrives in China, Beijing is already drawing a hard line. China says it is ready to crush any bid for Taiwan independence.

[00:09:07]>> There is only one China and Taiwan is part of China. This is an undeniable historical and legal fact that cannot be denied. Taiwan has never been a country.

[00:09:18]It was not one in the past and it absolutely will not be one in the future. We firmly oppose the establishment of diplomatic relations with and the sale of arms to China's Taiwan region. This position is consistent and clear.

[00:09:37]>> Airline fuel search charges are shut set to drop in the second half of May, though they remain well above precrisis levels. The Civil Aeronautics Board has lowered the passenger and cargo fuel search charge to level 15. Under that level, airlines may collect a fuel search charge of around 100 to 300 pesos on a one-way domestic flight. for some international routes. However, that could be as much as 2,500 pesos. That is down from level 18 during the first half of May, but still far above level four, the rate before the Middle East crisis.

[00:10:15]Moralco customers will see a small rate cut this month, but power cost pressures remain. Moralco says rates will go down by 1.5 centavos per kil kilowatt hour for the May billing period. That means a household using 200 kilowatt hours may save about three pesos. The cut was driven by lower transmission charges and a bigger refund adjustment. But spot market power prices rose more than 30% in April as demand increased.

[00:10:49]Digital banks are ranking ahead in a new customer satisfaction survey of Philippine banks. Marbank Philippines and Go Time Bank took the top two spots in Forbes's World's Best Bank's 2026 list for the Philippines. Banks were evaluated on customer satisfaction, customer service, digital services, and financial advice among others. But legacy banks are still in the game. BPI placed third, the highest ranked traditional bank on the list. The results point to a shift in what some customers value from branch-based banking to faster apps, easier access, and stronger digital services.

[00:11:34]Coming up, meet the 11 member House panel that will represent the chamber in the Senate impeachment trial of Vice President Sarah Duterte. This is Business 360.

[00:12:17]Heat.

[00:12:36]Welcome back to Business 360. I'm Apa Pin. The House elected an 11 member prosecution panel for the impeachment trial of Vice President Sar Duterte. The panel will represent the House before the Senate impeachment court and its members include representatives Gerville Luistro, Terry Reidon, Lawrence Defensor, Chel Jo, and Laya De Lima among others. The panel was elected a day after the House impeached Duterte and sent the case to the Senate.

[00:13:12]Senate President Alan Peter Kayatano admits he helped Senator Batau de la Rosa enter the Senate complex on Monday.

[00:13:19]Let's get the details from Hannah T.

[00:13:21]Hannah, what can you tell us?

[00:13:24]>> Apad Senate President Alan Peter Cayano has admitted that Senator Bau de la Rosa arrived at the Senate last Monday using a vehicle arranged by him, insisting that no crime was committed in helping the senator enter the Senate complex Monday afternoon. According to Cayatano, he had been in communication with Dear Rosa and only found out Monday morning that the senator was nearby and ready to surface. Cayatano said they then made arrangements to bring Darosa to the Senate, which he claimed was obvious during the plenary session after he publicly announced that the Senate majority already had 13 members for a leadership change, including Dear Rosa.

[00:14:03]Apa, it was Monday afternoon when Del Rosa floated in Senate Leny after six months and a CCTV footage showed that he ran away from NBI personnel who attempted to arrest him due to an ICC warrant. Meanwhile, Del Rosa appeared today in front of Senate media as he sang a portion of the PMA while making a direct appeal to security forces and President Bomb Morcos amid the ICC warrant against him. The former PNP chief insisted he his appeal was not a call for violence but a plea for peaceful support from fellow PMA cavaliers who believe the country should not be subject to foreign interference.

[00:14:40]Del Rosa also maintained that the Philippines is no longer the ICC questioning why the government would still enforce a warrant issued by a foreign court. The senator also directly appealed to PBBM not to allow his transfer to the HG saying he's simply a Filipino asking his president for help for now. Apa de Rosab remains under protective custody inside the Senate while his scam continues to exhaust all legal remedies and wait for possible action from the Supreme Court. Back to you.

[00:15:10]>> Thank you Hanati. Reporting.

[00:15:14]Former Senator Antonio Trillianis IV is questioning why DIGG Secretary John Vic Remia is hesitant to act on the ICC arrest warrant against Senator Ronald Bau. Dear Rosa Ramula earlier said that the ICC warrant has no force in the Philippines unless it is endorsed by Interpol.

[00:15:36]On BNC's memo with Karina, Trillian said the government should not protect political allies facing serious criminal allegations.

[00:15:51]Arrest warrant deescalate situation.

[00:16:18]Senator, I mean illegal or immoral refuge, criminal constitutional protection while in session are only for crimes.

[00:16:51]years or below.

[00:16:58]Mhm.

[00:17:06]>> Julian also claimed Senator Bomb go could be next to face an IC warrant in connection with the drug war. He said go may be treated as a co-conspirator but added it could take months before any warrant is issued.

[00:17:22]Vice President Sar Duterte criticized senators who called on Senator Delar Roa to surrender. She said an ICC arrest warrant cannot be enforced in the Philippines.

[00:17:42]warrant of arrest issued by a Philippine court cannot be implemented in Philippine soil.

[00:17:51]Meanwhile, the Department of Justice said the country may surrender a suspect to an international court under RA9851.

[00:17:59]The same law was used in the arrest case of former President Rodrigo Duterte.

[00:18:06]Coming up, the Makati Business Club has named its next and first ever female executive director. Find out who when Business 360 returns.

[00:18:52]Welcome back to business 360. I'm a pin.

[00:18:55]The Senate Blue Ribbon Committee partial report has been submitted to the ombbudsman. This was confirmed by assistant ombbudzman Miko Clavano. The report will be used for investigations into flood control cases. Senator Lockon said the information they collected won't go to waste despite the change in Senate leadership. In his progress report, Lockon also outlined the committee's plans to continue the flood control probe.

[00:19:27]investigation leadership fund control projects.

[00:19:58]Speaker, speaker urged his fellow senators to sign the committee's partial report. It still needs two more signatures before it can be presented in plenary.

[00:20:26]The Philippine Amusement and Gaming Corporation is turning over more cash to the national government. Pagor has remitted 5.67 billion pesos to the national treasury, representing half of the state gaming ay's net earnings for 2025. POR says the latest remittance brings its total dividend payment since 2022 to 29.9 billion pesos. The agency says the funds will help support government programs amid pressure from the global oil crisis and other fiscal challenges.

[00:21:01]Double Dragon is moving to consolidate MaryArt. Double Dragon is set to launch a mandatory tender offer for Mary Consumer Corporation on May 18. The offer will run until June 16 after getting clearance from the Philippine Competition Commission. Double Dragon is offering 48 centavos per share, a 20% premium to Mary Mart's trading price as of May 8th. That uh deal would bring Mary Mart into Double Dragon's AAA credit rated portfolio as Double Dragon shifts from a mainly property focused group into a more diversified investment holding company.

[00:21:42]The Makate Business Club has named its next executive director. Julia Abbad will take on the role on July 1st, becoming the first woman to lead the influential business group. She previously served as chief of staff to former president Benign no Aino III and led the presidential management staff from 2010 to 2016. The NBC says Abbad brings more than two decades of experience in governance, public policy development work and strategic leadership.

[00:22:17]More stories when we return. Business 360. We'll be right back.

[00:22:54]Bike Philippines is uh introducing uh Benji Paras and his sons Andre and Kobe as its new brand ambassadors. The company says they embody what bike's all about. Mobility correspondent Gia Baroga brings us up to speed.

[00:23:12]>> Natural, real, and relatable family dynamics. That's the kind of energy Bike Philippines saw in the Paraso family as Benji, Andre, and Kobe officially signed on as the brand's newest ambassadors.

[00:23:27]According to billionaire airine, each of them embodies what the bike brand represents. Legacy for Benji, adventure for Kobe, and modern Filipino for Andre.

[00:23:39]>> Having the Press family with us is a big um opportunity for us to showcase what our cars are about. um the different personalities that they have, it really shows uh what bike cars are capable of doing. Also, >> among Bike Philippines's new energy vehicles is the hybrid B30 like the ones owned by the Paras family. The company says the unit can reach up to 34.9 km per liter. The Paras family says the bike brand fits right into their lifestyle, checking all the boxes they've been looking for in a vehicle.

[00:24:13]Like most people, they admitted they are still new to the world of electric cars, but they also hope to make a difference for Filipino motorists.

[00:24:22]>> So, there are so many things that we are still learning about and I'm sure everyone else is and hopefully we can be also one of the bridges to the people who can accept the change and at the same time to learn more about the the bike family, >> especially now um I feel like we have the capacity of a country to you know have more like charging ports for electric vehicles. So hopefully one day you know everyone can be in tune and just move to electric cars. Before when you say about electric cars uh the looks is like it's like out of this world spaceship. So now if you look at the uh if you look at the like this bike uh B B30 the style is luxurious and uh yeah it it attracts attention. For the Paris boys, this partnership is also a chance to discover more about new energy vehicle technology while creating even more bonding moments together on the road with bike as their companion for BNC Mobility. G Baroga >> and that's Business 360. We'll keep tracking the moves that matter across markets, policy, and the economy. I'm Abang Pin. Thank you for joining us.

[00:25:38]Keep it here on BNC, the billionaire news channel.