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Pakistan says US and Iran reach peace agreement, signing set for Friday in Switzerland

Venus L Peñaflor
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Pakistan says US and Iran reach peace agreement, signing set for Friday in Switzerland

DUBAI/WASHINGTON — The United States and Iran have reportedly reached an agreement to end hostilities, with a signing ceremony scheduled for Friday in Switzerland, according to Pakistani Prime Minister Shehbaz Sharif, who made the announcement on social media early Monday.

US President Donald Trump also confirmed the development in a post on Truth Social, saying, “The Deal with the Islamic Republic of Iran is now complete,” shortly after Sharif’s statement.

The announcement comes despite continued regional tensions, including an Israeli strike on Lebanon on Sunday that drew criticism from both Iranian officials and US President Trump.

Sharif said the agreement includes the “immediate and permanent termination of military operations on all fronts, including in Lebanon,” though full details of the deal have not been independently confirmed.

According to earlier reporting by Reuters, multiple sources familiar with the draft framework said the proposed agreement could involve reopening the Strait of Hormuz, lifting restrictions affecting Iranian ports, and extending a ceasefire arrangement. The nuclear component of the deal is expected to be addressed through further negotiations over a 60-day period.

In his Truth Social post, Trump said the Strait of Hormuz would be reopened “toll free,” adding that US naval restrictions would also end. “Ships of the World, start your engines. Let the oil flow!” he wrote.

Tensions remain high in the region. Iranian negotiator Mohammad Baqer Qalibaf said Israel’s recent strike on the southern suburbs of Beirut, which Israel described as targeting Hezbollah positions, undermines trust in the peace process. Iran’s foreign ministry has also held the United States responsible for the escalation and warned of a “strong response.”

Trump, meanwhile, said on Sunday that the Beirut strike “should not have happened” at a time when negotiations were nearing completion.

Israel has stated it is not a party to the US-Iran agreement. Prime Minister Benjamin Netanyahu has also reportedly differed with Washington over calls to limit Israeli military operations in Lebanon during ongoing diplomatic efforts.

Earlier reports indicated that under the draft framework, the United States could release about $25 billion in frozen Iranian assets, while Iran would commit not to develop or acquire nuclear weapons and maintain current nuclear limits, including restrictions on enrichment and expansion of facilities, until a final agreement is reached.

Despite the announcements, key terms of the deal remain subject to confirmation, and implementation details are still expected to be finalized in follow-up talks, according to sources cited by Reuters.

Magnitude 4.9 na aftershock yumanig sa Sarangani

Carlo Juancho Funtanilla
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Magnitude 4.9 na aftershock yumanig sa Sarangani

MANILA, Philippines — Niyanig ng magnitude 4.9 na lindol ang karagatang malapit sa Sarangani, Davao Occidental nitong Linggo ng umaga, ayon sa Philippine Institute of Volcanology and Seismology (Phivolcs), na nagkumpirmang isa itong aftershock ng malakas na magnitude 7.8 na lindol na tumama sa katimugang Mindanao noong Hunyo 8.

Sa advisory ng Phivolcs, naitala ang pagyanig dakong alas-7:28 ng umaga. Natukoy ang episentro nito sa layong 33 kilometro timog-silangan ng Balut Island, Sarangani, Davao Occidental. Una itong naitala bilang magnitude 5.2 ngunit kalaunan ay ibinaba sa magnitude 4.9 matapos ang pagsusuri ng mga seismologist. Ang lindol ay tectonic ang pinagmulan at may lalim na 33 kilometro.

Naitala ang Intensity IV sa Sarangani, Davao Occidental, habang Intensity III naman sa Jose Abad Santos, Davao Occidental. Umabot sa Intensity I ang pagyanig sa General Santos City.

Batay sa instrumental intensity measurements ng Phivolcs, naramdaman din ang mahinang pagyanig sa mga bayan ng Malapatan at Malungon sa Sarangani Province, Tupi sa South Cotabato, Santa Maria sa Davao Occidental, at Digos City sa Davao del Sur.

Ayon sa Phivolcs, walang inaasahang malaking pinsala mula sa naturang aftershock. Gayunman, pinayuhan nito ang publiko na manatiling mapagmatyag dahil posible pa ring magpatuloy ang mga kasunod na pagyanig bunsod ng pangunahing lindol noong Hunyo 8.

Ang magnitude 7.8 na lindol noong Hunyo 8 ay isa sa pinakamalalakas na lindol na tumama sa Mindanao nitong mga nakaraang taon. Nagdulot ito ng malawakang pinsala sa ilang bahagi ng Soccsksargen at Davao Region, nagpasimula ng tsunami warning, at sinundan ng libu-libong aftershocks sa mga sumunod na araw.

Sa pinakahuling ulat ng mga awtoridad, patuloy pa rin ang pagtatasa sa epekto ng pangunahing lindol. Iniulat ng Office of Civil Defense na umabot na sa 61 ang kumpirmadong nasawi, 1,221 ang sugatan, at 33 ang nawawala matapos ang sakuna. Samantala, nakapagtala na ang Phivolcs ng humigit-kumulang 3,860 aftershocks limang araw matapos ang magnitude 7.8 na lindol.

Nag-ulat din ang Phivolcs ng mga pagbabagong heolohikal sa ilang baybaying lugar ng Sarangani at Davao Occidental, kabilang ang pag-angat ng ilang bahagi ng dalampasigan at paglantad ng dating nakalubog na coral reefs, na itinuturing na epekto ng malakas na paggalaw ng fault na nagdulot ng lindol.

Patuloy na binabantayan ng Phivolcs ang aktibidad ng mga fault sa lugar at hinihikayat ang publiko na sumunod sa mga opisyal na abiso ng mga lokal na disaster risk reduction offices at ng pambansang ahensiya sa seismolohiya.

US-Iran peace deal announced as Lebanon strikes raise concerns over regional stability

Venus L Peñaflor
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US-Iran peace deal announced as Lebanon strikes raise concerns over regional stability

DUBAI/WASHINGTON — The United States and Iran have reached a peace agreement aimed at ending months of conflict, but fresh Israeli strikes in Lebanon have raised concerns that regional tensions could complicate efforts to implement the deal, according to Reuters.

Pakistan Prime Minister Shehbaz Sharif announced on Monday that Washington and Tehran had agreed to a peace framework following negotiations facilitated by Pakistan and other regional mediators. A formal signing ceremony is expected to take place on June 19 in Switzerland, Reuters reported.

The announcement came amid renewed violence in Lebanon, where Israel launched strikes targeting Hezbollah positions in Beirut’s southern suburbs. Lebanese authorities reported casualties, while Hezbollah responded with projectiles fired toward northern Israel, further escalating tensions along the border.

Iranian officials questioned whether the latest military action could undermine confidence in the peace process. Iranian negotiator Mohammad Baqer Qalibaf said the Beirut strike reflected what he described as a lack of commitment by the United States to ensure conditions conducive to diplomacy.

“If you lack the will and ability to fulfil your commitments, speaking of continuing the path is not possible,” Qalibaf wrote on the social media platform X, according to Reuters.

US President Donald Trump also criticized the timing of the Israeli strike, saying it should not have occurred while negotiations were nearing completion. He nevertheless expressed confidence that diplomatic efforts remained on track.

According to Reuters, the draft agreement includes provisions for sanctions relief, the temporary easing of restrictions on Iranian oil exports, and the release of approximately $25 billion in frozen Iranian assets. The framework also contains nuclear-related commitments, including Iran’s pledge not to develop nuclear weapons and to maintain limits on its nuclear activities while negotiations toward a broader agreement continue.

The proposed arrangement would also reopen the Strait of Hormuz to commercial shipping and establish a period of technical negotiations aimed at resolving outstanding issues related to Iran’s nuclear programme, sanctions, and regional security concerns.

Despite the announcement by Pakistani mediators, some uncertainty remains. Iranian officials have indicated that discussions on implementation details are continuing, and previous statements from Tehran stressed that no final decision would be made until all terms were fully reviewed.

Reuters reported that divisions also persist within Iran, where hardline factions have opposed concessions to Washington. Analysts warned that continued hostilities involving Israel and Hezbollah could complicate efforts to sustain momentum toward a lasting settlement.

If finalized and implemented, the agreement would represent one of the most significant diplomatic breakthroughs between the United States and Iran in recent years, with mediators expressing hope that it could help reduce tensions across the wider Middle East.

Ina ni Baterbonia nananawagan ng paliwanag: ‘Di maibabalik ng sorry ang anak ko’

DC Alviar
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Ina ni Baterbonia nananawagan ng paliwanag: ‘Di maibabalik ng sorry ang anak ko’

MANILA, Philippines — Nanawagan ang pamilya ng yumaong Ateneo Blue Eagles player na si Rene Baterbonia ng mas malinaw na paliwanag mula sa pamunuan ng Ateneo de Manila University at head coach na si Tab Baldwin kaugnay ng pagkalunod na ikinasawi ni Rene at ng kaniyang teammate na si Divine Adili sa isang team-building activity sa Aurora.

Ayon sa ina ni Rene na si Rovelyn Baterbonia, hindi sapat ang paghingi ng paumanhin ng coach at nais nila ng konkretong sagot kung ano ang tunay na nangyari sa insidente. Sa isang pahayag na inilabas sa social media, iginiit niyang hindi maitatama ng “sorry” ang pagkawala ng kaniyang anak.

“Hindi maibabalik ng sorry ang anak ko. Ang gusto kong malaman ay kung ano talaga ang nangyari,” ani Rovelyn sa wikang Bisaya.

Ipinunto rin ng pamilya Baterbonia na nauna pa nilang nalaman ang impormasyon tungkol sa trahedya sa social media kaysa sa opisyal na komunikasyon mula sa unibersidad o sa koponan. Ayon sa kanila, wala ring agarang update na ibinigay sa pamilya matapos ang insidente.

“Bakit ninyo sinasabi na aksidente lang ang nangyari sa anak ko? Wala kayong ibinigay na malinaw na paliwanag o update sa amin,” dagdag pa ni Rovelyn.

Nabatid na sina Rene Baterbonia at Divine Adili ay parehong nasawi sa pagkalunod habang nasa isang team building activity ng Blue Eagles sa Aurora province.

Sa panig ni Ateneo head coach Tab Baldwin, naglabas siya ng video ilang araw matapos ang insidente kung saan humingi siya ng paumanhin sa mga pamilya ng dalawang biktima. Inamin niya na nabigo siya sa kaniyang responsibilidad bilang coach sa pagtiyak sa kapakanan ng mga manlalaro.

“Bilang coach, ipinagkatiwala ninyo sa akin ang kanilang kapakanan. Sa bagay na ito, pakiramdam ko ay nabigo ako. Humihingi ako ng tawad mula sa kaibuturan ng aking pagkatao,” pahayag ni Baldwin.

Sa ngayon, wala pang opisyal na pahayag ang Ateneo de Manila University kaugnay ng mga paratang ng pamilya Baterbonia at sa mga detalye ng insidente. Patuloy na hinihintay ng publiko ang mas malinaw na ulat hinggil sa mga pangyayari sa Aurora na humantong sa trahedya.


Pentagon releases new UFO files detailing discs, glowing orbs and unexplained sightings

Paraluman P. Funtanilla
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Pentagon releases new UFO files detailing discs, glowing orbs and unexplained sightings

WASHINGTON — The Pentagon has released a new batch of documents describing a range of unidentified aerial phenomena, including spinning disc-like objects, glowing orbs, and one sighting compared to a “potato-shaped” object, according to files made public Friday and reported by The Associated Press.

The release of 72 files marks the third disclosure under a transparency initiative directed during the administration of former US President Donald Trump, aimed at making public government records related to unidentified aerial phenomena (UAP) and potential extraterrestrial activity. Officials emphasized that, despite public speculation, no evidence of alien life or government cover-ups has been found.

Among the newly released cases is an incident involving an object described as resembling a potato. According to a heavily redacted intelligence report attributed to a government partner, observers reported a strange aerial object that investigators later assessed with “low confidence” may have been caused by sunlight reflecting off snow and low clouds. However, witnesses insisted the sky was clear at the time and no known aircraft or balloons were present in the area. The case remains unresolved.

Another report from October 2023 details sightings by six US federal law enforcement agents who observed a bright orange orb appearing above a ridgeline. The object reportedly produced smaller red orbs that appeared and disappeared intermittently, with one instance in which an orb hovered motionless for several hours. No photographic or video evidence was obtained. The Pentagon’s All-domain Anomaly Resolution Office (AARO) assessed several possible explanations, including military exercises and experimental US technology, but found no conclusive determination.

AARO, established by Congress in 2022, is responsible for investigating UAP reports across US defense and intelligence agencies. The office has repeatedly stated it has not confirmed any evidence of extraterrestrial origin in the cases it has reviewed.

An FBI report from February included in the release describes another sighting in the northeastern United States, where a witness reported a “brilliant and beautiful” red sphere hovering near trees in a backyard. The file describes a second sphere appearing before both objects silently moved away. Cellphone footage reportedly shows two glowing orbs crossing the sky, and the White House shared the video on social media without additional commentary.

The latest disclosures also include a previously unreleased 2008 CIA report from Zimbabwe describing a disc-shaped object with rotating lights and beams of light observed near an airport. Witnesses reportedly debated whether the object could be a foreign aircraft or something of unknown origin, including speculative suggestions of extraterrestrial activity.

Since the start of the transparency initiative, approximately 300 historical and recent files have been released, some newly declassified and others adding detail to previously known incidents. While the documents continue to generate public interest, US defense officials maintain that most sightings can be attributed to conventional explanations or remain unresolved due to limited evidence.

The Pentagon has not indicated when further releases will follow.

Funeral for Iran’s Supreme Leader Khamenei scheduled as US-Iran peace deal nears, state media says

EDGARDO HERNAL
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Funeral for Iran’s Supreme Leader Khamenei scheduled as US-Iran peace deal nears, state media says

DUBAI — Iran has announced that the funeral of its late Supreme Leader Ayatollah Ali Khamenei will begin in Tehran on July 4, with burial scheduled for July 9 in the northeastern holy city of Mashhad, according to state media reports cited by Reuters on Saturday, even as international mediators say a US-Iran peace deal is nearing completion.

The funeral will include multiple ceremonies, including a key service on July 7 in the religious center of Qom, south of Tehran, marking a rare extended state mourning period for the longtime Iranian leader.

Khamenei, 86, was killed on February 28 during joint Israeli and US airstrikes that targeted Iran in the opening phase of the current conflict. He had led the Islamic Republic for 36 years, shaping its regional strategy and consolidating its influence across the Middle East through allied armed groups, including Hezbollah in Lebanon.

State media reports said the delayed burial arrangements reflect wartime conditions, despite Islamic tradition generally requiring burial within 24 hours of death. Exceptions are permitted under extraordinary circumstances, including armed conflict.

Khamenei’s death marked a turning point in the ongoing war, which has seen sustained military exchanges involving Iran, Israel, and US forces, and has contributed to heightened instability across the region. During his tenure, he was a leading critic of the United States and oversaw decades of tension over Iran’s nuclear program, a central issue in long-running diplomatic disputes with Washington.

Following his death, his son Mojtaba Khamenei, who was injured in the same airstrike that struck the family compound in central Tehran, was reported by Iranian sources to have assumed the role of Supreme Leader.

The announcement of funeral arrangements comes as diplomatic momentum builds toward a possible end to hostilities. Pakistani Prime Minister Shehbaz Sharif said Saturday that Iran and the United States have agreed on a framework for a peace deal after more than three months of war and are expected to sign an initial agreement within 24 hours.

Sharif, whose government has been acting as a mediator, said the deal would be followed by technical-level negotiations in the coming weeks to finalize outstanding issues.

The overlapping developments highlight a rapidly shifting political landscape in the region, where military escalation, leadership transition in Tehran, and renewed diplomatic engagement are occurring simultaneously.

US, Iran expected to sign initial peace deal Sunday, though Iran questions timing

Venus L Peñaflor
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US, Iran expected to sign initial peace deal Sunday, though Iran questions timing

DUBAI/WASHINGTON — The United States and Iran are expected to sign an initial agreement aimed at ending more than three months of conflict on Sunday, according to U.S. President Donald Trump and Pakistani Prime Minister Shehbaz Sharif, whose government has been mediating negotiations between the two countries. However, Iranian officials have cautioned that several key issues remain under review and have not confirmed the timing of the signing.

In a statement on Saturday, Sharif said the two sides had agreed on a framework for a peace agreement and that Pakistan was preparing for an electronic signing ceremony, to be followed by technical-level discussions next week focused on finalizing details of the arrangement. Trump also said the agreement was expected to be signed Sunday and expressed optimism that it would mark a major step toward ending the conflict.

“We are closer to a peace deal than ever before,” Sharif said, adding that the proposed agreement could serve as a foundation for long-term regional stability.

Despite the optimism, Iranian officials have declined to confirm that a signing will occur immediately. Iranian Foreign Ministry spokesperson Esmaeil Baghaei said that while large portions of the text have been finalized, Tehran has not yet reached a final decision on all aspects of the agreement and continues to review the proposal through its decision-making bodies.

The conflict began on Feb. 28 when the United States and Israel launched coordinated strikes against targets in Iran. Iran subsequently targeted U.S. military facilities in the Gulf region, while Hezbollah militants in Lebanon launched attacks on Israel, expanding hostilities across the region. The war has resulted in thousands of deaths and contributed to volatility in global energy markets due to concerns over disruptions to Middle Eastern oil supplies.

According to sources familiar with the negotiations, the proposed memorandum of understanding would reopen the Strait of Hormuz, a critical route for global oil shipments, and begin a 60-day negotiation period addressing Iran’s nuclear program. The United States has indicated that the talks should ultimately lead to the dismantling of Iran’s nuclear program, while Iran has signaled that it seeks to retain certain nuclear capabilities under negotiated conditions.

The framework also reportedly includes the release of frozen Iranian assets and the easing of some sanctions related to Iranian oil exports in exchange for guarantees that maritime traffic through the Strait of Hormuz remains open. Several details, however, remain under negotiation.

Military tensions have not completely subsided. U.S. forces recently intercepted Iranian attack drones near the Strait of Hormuz, underscoring the fragile security situation even as diplomatic efforts advance.

If signed, the agreement would represent the most significant diplomatic breakthrough since the conflict began and could help reduce tensions in one of the world’s most strategically important regions. Nevertheless, major questions surrounding Iran’s nuclear program, regional security arrangements, and implementation of the proposed terms are expected to remain subjects of intensive negotiations in the weeks ahead.ns in the weeks ahead.

Stronger border security supports tourism growth, says Immigration Bureau

Venus L Peñaflor
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Stronger border security supports tourism growth, says Immigration Bureau

MANILA, Philippines — The Bureau of Immigration (BI) has attributed the continued rise in foreign tourist arrivals to strengthened border security measures, saying that effective immigration controls help build confidence among international travelers and support the country’s tourism industry.

BI spokesperson Dana Sandoval said recent arrival figures indicate steady growth in foreign visitor traffic during the second quarter of 2026 compared with the same period last year, even as the country entered what is traditionally considered a lean travel season.

“The stronger our border security is, the greater it helps the country’s tourism,” Sandoval said in a recent interview.

According to data cited by the BI, international arrivals increased from approximately 1.337 million in April 2025 to 1.358 million in April 2026. Visitor arrivals in May also rose from about 1.299 million to 1.309 million during the same period.

Sandoval described the figures as encouraging, noting that growth has continued despite seasonal factors that typically slow travel demand, including the end of extended holiday periods, the reopening of schools, and the onset of the rainy season.

She said the Philippines generally experiences moderate tourism growth during the third quarter before visitor numbers surge again in the final months of the year, a pattern that aligns with year-end holidays and peak travel periods.

South Korea remains the Philippines’ largest source of foreign visitors in 2026, followed by the United States, Canada, Japan, and China, according to BI data. Sandoval noted that these countries have consistently ranked among the country’s top tourism markets for several years.

While traditional markets continue to drive arrivals, she said the Department of Tourism (DOT) is actively expanding its promotional efforts to attract visitors from emerging markets beyond the Association of Southeast Asian Nations (ASEAN) region.

“The Department of Tourism is also tapping into other tourism markets because many people around the world are interested in the beauty of the Philippines,” Sandoval said.

The BI and the DOT are coordinating closely by sharing arrival statistics and travel data to help government agencies develop more targeted tourism promotion strategies and identify growth opportunities in key international markets.

Sandoval rejected the notion that strict border controls discourage tourism, saying the BI’s mandate to “Protect the Philippines” complements the government’s “Love the Philippines” tourism campaign.

She said maintaining secure borders helps reassure travelers that the country is a safe destination and that authorities have the capability to effectively monitor the movement of passengers entering and leaving the Philippines.

Industry experts have long identified safety and security as important factors influencing travel decisions. The Philippines has sought to strengthen its reputation as a secure and welcoming destination while increasing international visitor arrivals and tourism revenues.

Tourism remains one of the country’s major economic drivers. According to the DOT, the sector contributes significantly to employment, local business activity, and foreign exchange earnings, making visitor confidence an important component of national economic growth.

As part of its modernization efforts, the BI is pursuing a ₱10.74-billion Public-Private Partnership project aimed at upgrading border control systems across 11 major airports, one international seaport, and six border stations nationwide.

The proposed Civil Aviation and Immigration Security Services (CAISS) project will introduce a range of advanced technologies designed to improve security and streamline passenger processing. Planned upgrades include contactless immigration corridors, biometric facial recognition systems, self-service immigration kiosks, and enhanced passenger pre-screening capabilities.

The project is designed to comply with standards established by the International Civil Aviation Organization (ICAO), the United Nations specialized agency responsible for developing global aviation safety, security, and border management standards.

Immigration officials said the modernization initiative seeks to improve operational efficiency while enhancing national security and facilitating legitimate travel.

Sandoval said the bureau remains committed to continuously improving its systems and procedures in line with the administration’s broader governance and digital transformation goals.

“We are continuously making efforts to find ways to improve our processes and systems so that the new immigration we envision can be fully aligned with the new Philippines that our President seeks to build,” she said.

Titser patay matapos barilin ng nobyong sundalo sa fiesta sa Camarines Sur; isa pa sugatan

Arman B. Cambe
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Titser patay matapos barilin ng nobyong sundalo sa fiesta sa Camarines Sur; isa pa sugatan

DEL GALLEGO, Camarines Sur — Isang dalagang guro ang nasawi matapos umanong barilin ng kanyang nobyong sundalo sa gitna ng sayawan sa isang barangay fiesta, madaling araw ng kamakalawa, ayon sa ulat ng pulisya.

Kinilala ang biktima sa alyas “Joan,” residente ng naturang barangay, na agad na binawian ng buhay matapos magtamo ng tama ng bala sa katawan. Sugatan din ang suspek na si Sgt. Guillermo, 38, miyembro ng Philippine Army na nakatalaga sa Fort Magsaysay, Palayan City, Isabela, matapos umanong barilin ang sarili. Isang lalaking residente na kinilalang alyas “Rudy,” na umano’y umawat sa insidente, ay nasugatan din.

Batay sa inisyal na imbestigasyon, naganap ang insidente bandang alas-una ng madaling-araw sa isang benefit dance sa plaza bilang bahagi ng pagdiriwang ng kapistahan ng barangay. Nasa inuman umano ang magkasintahan kasama ang mga kaibigan nang magtalo matapos magyaya ang suspek na umuwi, ngunit tumanggi ang biktima.

Dito umano nagsimula ang komprontasyon na nauwi sa pagkaladkad ng suspek sa kanyang nobya palabas ng sayawan. Nang awatin siya ni “Rudy,” bumunot umano ng baril ang sundalo at pinaputukan ito, bago sunod na binaril ang kanyang nobya. Matapos bumagsak ang biktima, binaril din umano ng suspek ang kanyang sarili.

Agad na rumesponde ang mga tauhan ng Del Gallego Municipal Disaster Risk Reduction and Management Office at isinugod sa Maria Eleazar General Hospital sa Tagkawayan, Quezon ang mga sugatan. Kalaunan, dahil sa seryosong kondisyon, inilipat sila sa Bicol Medical Center sa Naga City, Camarines Sur.

Narekober sa pinangyarihan ng insidente ang ginamit na 9mm na baril at tatlong basyo ng bala, ayon sa mga awtoridad.

Patuloy ang imbestigasyon ng pulisya upang matukoy ang buong detalye at motibo sa insidente.

SpaceX surpasses $2 trillion valuation in blockbuster stock market debut, making Elon Musk the first trillionaire

Venus L Peñaflor
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SpaceX surpasses $2 trillion valuation in blockbuster stock market debut, making Elon Musk the first trillionaire

NEW YORK — SpaceX surged more than 20 percent in its Nasdaq debut on Friday, pushing the aerospace and technology company’s valuation above $2 trillion and cementing one of the largest and most closely watched public offerings in financial market history.

Shares of Elon Musk’s company opened at $150, above the initial public offering price of $135, before climbing to around $164 in early trading. The rally briefly elevated SpaceX into the ranks of the six most valuable publicly traded companies in the United States.

The market debut marks a major milestone for Musk’s business empire and is being closely watched as a potential indicator of investor appetite for a new wave of large technology listings, including anticipated offerings from artificial intelligence firms such as OpenAI and Anthropic.

At approximately $75 billion in proceeds, the offering surpassed the size of Saudi Aramco’s record-setting 2019 initial public offering, making it the largest IPO on record.

The strong debut highlighted continued investor confidence in SpaceX’s long-term growth prospects despite questions about its current financial valuation.

The company reported revenue of approximately $18.7 billion in 2025 but posted a net loss of nearly $5 billion last year. Even so, investors have continued to back the firm’s ambitious plans in commercial spaceflight, satellite internet services, artificial intelligence, and future space-based industries.

SpaceX founder and Chief Executive Officer Elon Musk reflected on the company’s early challenges before trading began.

“I gave SpaceX a 10% chance of succeeding at all,” Musk said in Texas ahead of the market opening.

SpaceX President Gwynne Shotwell and Chief Financial Officer Bret Johnsen rang the Nasdaq opening bell as the company officially entered public markets.

Analysts say the company’s valuation reflects more than its current financial performance. Instead, many investors appear to be placing a premium on Musk’s track record of building transformative companies.

The phenomenon, often described by market observers as the “Musk premium,” has also been associated with electric vehicle manufacturer Tesla, whose market value has frequently exceeded that of traditional automotive competitors.

Joel Shulman, chief executive officer of ERShares, whose investment fund holds exposure to SpaceX, said Musk belongs to a rare category of entrepreneurs.

“We have to go back 100 years to get comparable entrepreneurs. He’s a visionary unlike others, and he executes extremely well,” Shulman told Reuters.

Some investors compare SpaceX’s growth story to Amazon’s early years, arguing that traditional valuation metrics may not fully capture the company’s future opportunities.

Nancy Tengler, chief executive and chief investment officer of Laffer Tengler Investments, said investors are focused on long-term transformation rather than near-term earnings.

“This is not a name you’re buying based on fundamentals,” Tengler said. “For me, the analogy is Amazon. This was a company that changed the way we live.”

Founded in 2002, SpaceX has become the dominant force in commercial space launches through its Falcon rocket family and its reusable launch technology, significantly reducing the cost of sending payloads into orbit.

The company also operates Starlink, the world’s largest satellite internet constellation, providing broadband services to consumers, businesses, governments, and remote communities around the globe.

According to company statements, SpaceX has been responsible for more than four-fifths of the total mass launched into orbit worldwide over the past three years.

Executives estimate the company’s total addressable market at $28.5 trillion, citing opportunities in telecommunications, artificial intelligence, space transportation, and future off-Earth industries.

John Belton, a portfolio manager at Gabelli Funds, said SpaceX combines a mature business with a potentially transformative long-term vision.

“For Tesla, that’s things like humanoid robotics and other future applications. For SpaceX, it’s the AI business,” Belton said.

Despite the enthusiasm, some analysts caution that SpaceX’s market value may be difficult to justify using conventional financial measures.

Based on its reported revenue, the company is trading at a price-to-revenue ratio of roughly 94, substantially higher than most established technology firms.

Analysts at Morningstar recently estimated that SpaceX’s fair value could be closer to $780 billion, far below its current market capitalization.

Competition also continues to intensify. Rivals including Blue Origin, founded by Amazon founder Jeff Bezos, are expanding their launch capabilities and seeking a larger share of government and commercial space contracts.

Market participants expect SpaceX to be added relatively quickly to the Nasdaq 100 Index under updated fast-track inclusion rules, potentially within a month. Inclusion would make the company a significant holding for exchange-traded funds and index funds that track the benchmark.

Some analysts believe the addition could trigger portfolio adjustments across the technology sector as institutional investors reallocate capital toward the newly listed company.

The success of the IPO is also expected to influence the broader market for public offerings. Investment bankers and analysts view the listing as a critical test case for investor demand ahead of several anticipated technology and artificial intelligence IPOs.

For now, SpaceX’s blockbuster debut signals that investors remain willing to pay premium valuations for companies perceived to be shaping the future of technology, even as questions persist about profitability and long-term financial fundamentals.

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