January 9, 2026 l The Manila Times
The top risks that Philippine companies will face this year are similar but more treacherous from 2025.
While writing this column, two unrelated events unfolded. One could pose a challenge for the country, while the other was a cause for celebration.
The first was the invasion of Venezuela, which sent shock waves around the world. Various news outlets and countries gave conflicting views on the logic and legality of the invasion. Those who supported the United States action focused on the unpopularity of Venezuelan President Nicolás Maduro and his alleged drug trade.
Other countries, including China — the biggest importer of Venezuelan oil — condemned the invasion and the capture of Maduro. It said that this “hegemonic behavior of the US seriously violates international law, infringes upon Venezuelan sovereignty and threatens peace and security in Latin America and the Caribbean.”
Russia’s Foreign Ministry said Maduro’s capture would be an “unacceptable encroachment on the sovereignty of an independent state.” But since China and Russia have likewise occupied territories of other countries, their pronouncements sound like the proverbial pot calling the kettle black.
We might be transitioning to a world of multiple spheres of influence, which is not new. As a mechanism for managing great power competition, these spheres of influence have a history going back to the sixth century — when Rome and Carthage concluded a treaty prohibiting Roman ships from sailing near Carthaginian waters and restricting Carthaginian forces from attacking towns friendly to Rome.
One could also imagine how Spain and Portugal divided the world in 1494 through the Treaty of Tordesillas which shaped centuries of colonization.
New spheres of influence in today’s multipolar world might be rising with the US in the Americas, Russia in Europe and China in Asia. This could be a risk that could pose existential danger in the years ahead.
‘plane always late’
Another news report caught my eye. It may not have a global impact, but It’s worth celebrating as a nation. The country’s flag carrier, Philippine Airlines (PAL), was named the most punctual in Asia-Pacific for the first time, achieving an on-time performance rate of 83.12 percent, according to London-based analytics firm Cirium. Air New Zealand ranked second, followed by Japan’s All Nippon Airway.
We can now erase from our minds PAL’s low credibility and sarcastic moniker as the “Plane Always Late.” It is likewise one step toward improving our “Filipino time” reputation. Studies have shown that tardiness is largely a result of systems and environmental factors beyond the individual’s control. These factors are prevalent in developing nations because of inadequate transportation, infrastructure, economic constraints and inconsistent policy enforcement.
It was reported that “Korean Time” in the 1960s was just as bad, but it improved over time through Korea’s accelerated national growth.
We sometimes blame cultural perspectives like the “mañana” habit, but studies have shown that structural issues related to economic development are really the primary drivers.
I am certain the Philippines would progress further if other companies, aside from PAL, achieve a high level of punctuality in their operations as well.
Local risk managers have named disruptive technology risks as one of the top three biggest concerns this year. It is specially harmful because of its potential to amplify other risks like fraud and financial crimes.
In the 2026 Scam Prediction report by Trend Micro Philippines, local companies face a higher risk of scams driven by artificial intelligence (AI). The report recommends strengthening intelligence such as cybersecurity and employee awareness to limit exposure.
AI tools are expected to make fraud campaigns more targeted, persuasive and scalable. These new tools are able to automate these vicious tasks with limited human intervention. We can limit our exposure to these evolving scam tactics by combining technical defense with employee awareness.
Vulnerability to climate change and natural disasters will likewise pose challenges to business resilience and stability. These weather disturbances will cause operational disruptions and supply chain issues that companies need to plan for. This won’t be easy but are necessary to reduce business losses.
The new year brings both new opportunities and challenges for us. We believe that the vibrant Filipino spirit will get through the times as governance standards improve.
***The views expressed herein are his own and do not necessarily reflect the opinion of his office as well as FINEX. For comments, email rsgoseco@gmail.com. Photo is from Pinterest.