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MANILA — China could seek to occupy Scarborough Shoal by the end of the decade after laying political, economic and legal groundwork for possible coercive action in the disputed South China Sea, a retired US Navy intelligence officer warned Saturday.

Capt. Carl Schuster, a former director of operations at the US Pacific Command Joint Intelligence Center near Pearl Harbor, said China’s growing military, coast guard and maritime militia presence around the shoal suggests Beijing views the feature as the “final link” in its expanding network of positions across the South China Sea.

Speaking at an online forum organized by the National Youth Movement for the West Philippine Sea (NYMWPS), Schuster said he does not expect China to immediately launch a military operation to seize Scarborough Shoal, but warned that Beijing could instead employ coercive tactics to pressure the Philippines into allowing Chinese construction in the area.

“Scarborough Shoal is the final link in the chain in South China Sea. I don't think they're going to do something right away, but I do think it may be a problem by the end of this decade," Schuster said.

He said he has not seen "conclusive evidence" of construction at Scarborough, which the Philippines calls Bajo de Masinloc and Panatag Shoal but "would not be surprised to discover they are at least considering it."

‘ILLEGAL COERCIVE ACTIVITIES’

Rather than an outright military takeover, Schuster said Beijing could initially employ so-called gray-zone tactics to force Manila to submit to Chinese construction or other activities around the shoal.

He said China's expanding surveillance network, including radar systems, aircraft, Coast Guard vessels and maritime militia boats, could eventually give Beijing a significant advantage in monitoring activity across the South China Sea.

“It's very clear that China hopes to maintain a surveillance advantage over the South China Sea so that should they decide to control it, they can," he said.

Australian defense professor Carl Thayer, who joined the forum, said satellite imagery has likewise shown a rapid increase in Chinese Coast Guard and maritime militia activity around Scarborough Shoal and adjacent features.

Thayer described the developments as “very worrying,” noting what he said was a doubling or quadrupling of Chinese Coast Guard and maritime militia presence in the area.

"Various think tanks and groups that use satellite imagery have honed in on the massive and rapid Chinese presence and activity around Scarborough Shoal and some of the adjacent features... By doubling and quadrupling the presence of the Coast Guard, maritime militia," Thayer said.

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has expanded the range of investment products available under the country’s voluntary retirement savings program to include time deposits, giving Filipinos a lower-risk and more familiar option for building retirement funds.

In a memorandum, the BSP said banks that meet applicable prudential requirements may offer time deposits under the Personal Equity and Retirement Account (PERA), alongside existing eligible products such as unit investment trust funds, stocks, real estate investment trusts and government securities.

A PERA time deposit will retain the legal form of a regular bank time deposit and remain subject to banking laws and prudential regulations, while its ownership, administration, tax treatment and withdrawal will also be governed by the PERA Act and related rules.

“Retirement planning should be simple, accessible and within reach of every Filipino,” BSP Deputy

“By introducing PERA time deposits, we are providing another practical option for individuals who want to build their retirement savings through a product they already understand and trust,” she said.

Unlike ordinary time deposits, placements made through PERA form part of a contributor’s retirement account and may qualify for applicable tax incentives.

The BSP said the new option could appeal particularly to savers looking for more predictable returns and relatively lower investment risk compared with market-linked instruments.

Banks will not be able to immediately offer PERA time deposits, however, as they must first comply with a series of regulatory requirements.

A bank must satisfy the BSP’s prudential criteria and notify the central bank of its PERA time deposit program within 10 banking days from board approval. The notification must include details on the program’s features, operating arrangements and target implementation date as well as certifications on compliance with applicable regulations.

The lender must also secure accreditation from the Bureau of Internal Revenue before accepting placements. Once the BSP determines that a bank’s submission is complete and compliant, it will transmit confirmation to the BIR within 15 banking days.

Banks are likewise required to enter into a written arrangement with at least one accredited PERA administrator, which will remain responsible for managing contributors’ accounts, monitoring contribution limits, maintaining PERA records and handling tax reporting.

Under the new framework, PERA time deposits must have a minimum maturity of 30 days. Upon maturity, the proceeds must remain within the contributor’s PERA and may be rolled over, transferred or reinvested in another accredited PERA product.

The maturity of the deposit itself will not be treated as a withdrawal from PERA. Similarly, pre-terminating a time deposit will not automatically constitute a withdrawal as long as the proceeds remain within the PERA and are reinvested or transferred in accordance with existing rules.

PERA time deposits will also remain covered by applicable Philippine Deposit Insurance Corp. deposit insurance rules.

The BSP said the expansion is part of efforts to encourage Filipinos to make retirement savings a regular part of financial planning and to select investments based on their financial goals, investment horizon and risk appetite.

PERA was established under Republic Act 9505 as a voluntary retirement savings program designed to supplement state and employer-based retirement benefits while providing tax incentives to encourage long-term savings.

CAGAYAN DE ORO CITY — American and Philippine military personnel have begun preparations for Balikatan 2027 in Northern Mindanao, with a facility in Misamis Oriental being assessed for possible use in the bilateral exercises.

The U.S. Embassy confirmed that a team of U.S. and Armed Forces of the Philippines (AFP) personnel visited the Sanjia Steel Corp. facility in Tagoloan, Misamis Oriental, in coordination with the Phividec Industrial Authority.

“As part of joint U.S.-Philippine planning for Balikatan 2027, a team of U.S. military and AFP personnel arrived at the Sanjia facility in coordination with Phividec Industrial Authority to assess its potential for use as part of bilateral military exercises,” the embassy said.

The planned exercises would mark another Balikatan activity in Northern Mindanao, following previous joint training involving Philippine and American forces in the region.

Earlier exercises included humanitarian assistance and disaster response training at Lumbia Air Base in Cagayan de Oro and military activities at the Kibaritan training complex in Bukidnon.

Lumbia Air Base, the city’s former civilian airport, was converted into a Philippine Air Force installation and is one of the Philippine military facilities designated under the Enhanced Defense Cooperation Agreement.

Previous joint activities in Northern Mindanao also included training on coastal defense, troop deployment and humanitarian assistance and disaster response.

Retired Maj. Gen. Michele Anayron, former commander of the Army’s 4th Infantry Division, earlier said American troops trained with Philippine soldiers in the region to improve coordination with allied forces in case of emergencies.

“This training has nothing to do with the West Philippine Sea or the war in Iran. This is purely training,” Anayron said at the time, addressing concerns over the presence of American troops in the region.

He said Northern Mindanao-based troops rarely receive the specialized training typically conducted with U.S. forces during Balikatan exercises in Luzon.

The 4th Infantry Division has also hosted exercises with other foreign forces, including Australian troops who trained with Filipino soldiers in jungle warfare at the Kibaritan training complex.

The U.S. Embassy’s confirmation of the Sanjia facility assessment comes as Philippine and American forces begin planning for next year’s iteration of their annual bilateral military exercises.

MANILA, Philippines — The Philippine Army on Wednesday launched a simulated territorial defense exercise in Sulu, bringing together government, security and disaster-response agencies to test their ability to coordinate during security emergencies.

The Inter-Agency Territorial Defense Operations “Orion’s Taming” Exercise 2026 was formally started by the Army’s 11th Infantry (Alakdan) Division in the province, according to the division.

As part of the exercise scenario, division commander Maj. Gen. Leonardo I. Peña recommended the activation of the Sulu Joint Inter-Agency Coordinating Center and Emergency Operations Center to Sulu Gov. Abdusakur Tan II.

Tan subsequently declared the activation, signaling the start of the simulated coordinated response.

The exercise involves local governments, security and law enforcement units, disaster-response organizations and other partner stakeholders.

The Army said the exercise is intended to test and strengthen the participants’ readiness, communication and coordination in responding to security challenges, while ensuring the safety and welfare of civilians.

Sulu Vice Gov. Abdusakur Tan also attended the activity to show the provincial government’s support for the participating agencies.

The Army clarified that the situations and events portrayed during the activity are part of a simulation and do not represent actual incidents. — Charles Errol Baldoz, intern.

At A Glance

The Philippine Navy will join India and 10 ASEAN countries in the ASEAN-India Maritime Exercise 2026 from Sept. 28 to Oct. 2.

The five-day exercise aims to strengthen maritime security, cooperation, and interoperability among participating navies in the Indo-Pacific.

The activity will be held under the theme "Anchored in Trust, United at Sea," with the Philippines and India serving as designated hosts.

Every year, the Argentinian Military Ordinariate sends a priest to serve the people who reside on Argentina's Antarctic bases.

The first Argentinian priest to spend the winter on the White Continent was 41 year old priest, Fr. Francisco Roverano.

Rome Reports is an international news agency covering the Pope, the Vatican, Rome and the Catholic Church, as well as major social, cultural and religious debates

Aug 2 (Reuters) - Swiss building materials ‌supplier Holcim Group (HOLN.S), opens new tab said on Sunday it plans to sell its Philippines business to China's Huaxin Building Materials (600801.SS), opens new tab in a deal that could raise at least $807 million.

Holcim will sell an initial 68% stake for $527 million with ​the remainder to be sold over the next three to five years for a ​minimum price of $280 million.

This would lead to an overall valuation of $807 million, although ⁠the figure could rise "based on incremental value creation during this period," Holcim said.

The sale, which ​is expected to be completed in the first half of 2027, is Holcim's biggest divestment since ​it sold its Nigeria business, also to Huaxin Cement, in a $1 billion deal in December 2024.

Money raised from the sale of the Philippines business will be used to fund large acquisitions and also further investment in ​Holcim's existing business.

The Swiss company has been focusing more on Europe, Latin America, North Africa and ​Australia as it reshapes its business after spinning off its North American operations into a separate company last year.

Acquisitions ‌have ⁠been identified as a key part of Holcim's growth strategy, with the company planning to make around 15 deals in 2026.

Holcim last year said it had 3 billion Swiss francs to 4 billion Swiss francs ($3.72 billion to $4.95 billion) to spend on acquisitions up to 2030, and could raise ​up to 6 billion ​Swiss francs more ⁠from divestments and extra borrowing for large deals and share buybacks.

Holcim CEO Miljan Gutovic on Friday said the company had a "very healthy pipeline" of ​acquisition projects in Latin America, Europe and also parts of Asia, Middle ​East and ⁠Africa, and was also considering large deals.

"We are constantly screening our landscape, from walling and flooring solution companies all the way to roofing, and we believe there are some very attractive markets," he ⁠told analysts ​after the company's second-quarter results.

I'm confident that we will have ​a strong momentum on the M&A front in the second half of this year," Gutovic added.