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ICC decision on ex-Pres. Duterte’s release plea won’t trigger change in foreign policy

FORMER PRESIDENT Rodrigo R. Duterte — OFFICIAL FACEBOOK ACCOUNT OF THE SENATE OF THE PHILIPPINES

By Chloe Mari A. Hufana, Reporter

THE PHILIPPINES is unlikely to alter its foreign policy stance even if the International Criminal Court (ICC) grants interim release to former President Rodrigo R. Duterte, a diplomacy expert said, as the country remains committed to international norms despite the political sensitivity of the case.

This comes after Mr. Duterte’s legal team sought his interim release from the Hague-based tribunal, citing his old age and health condition. He is awaiting trial for alleged crimes against humanity during his bloody drug war.

If approved, the move would require a third-party state to host the former leader under strict ICC-imposed conditions — a rare and diplomatically complex process that has only been successfully executed once in the court’s history in the case of Jean-Pierre Bemba from the Democratic Republic of the Congo.

“Such a move will not run counter to our national interests, and our respect of the court’s decision on the interim release would just substantiate and be a manifestation of our commitment to such standards,” said Josue Raphael J. Cortez, diplomacy lecturer at De La Salle-College of St. Benilde, via Facebook Messenger.

Any arrangement for interim release, Mr. Cortez noted, would require delicate negotiations to align the ICC’s terms with the domestic laws of the host country. “This can be tricky,” he said. “There are possibilities that ultra-nationalistic countries, which view international law as something that must be enacted domestically, would not concur with such provisions.”

Only Belgium, the Netherlands’ neighbor, has formalized an agreement with the tribunal to host ICC detainees that were given interim release, he added.

“This is something that the ICC also hopes to serve as a trailblazer for other countries that are parties to the Rome Statute, as the functioning of the court heavily relies on the cooperation of signatories to the statute, as enshrined as well in its very provisions,” he added.

“This is still a fairly new practice,” Mr. Cortez said. “The case of Belgium may serve as the litmus test on whether such agreements would work and if they are a viable strategy that other countries may follow in the long run.”

Meanwhile, the 1Sambayan coalition, a group of Filipino civil society organizations, urged the ICC to reject the firebrand leader’s request for an interim release, a move it “vehemently condemned.”

“Duterte’s alleged crimes against humanity are not mere allegations; they are documented accounts of systematic violence, extrajudicial killings, and the widespread suppression of dissent that left a trail of suffering and shattered lives across the nation,” it said in a statement late Saturday.

The ICC probe, it said, is a symbol of hope for justice for thousands of alleged victims.

According to the group, Mr. Duterte’s interim release “poses a grave threat to the safety and well-being of witnesses and the families of victims” participating in the probe.

“1Sambayan demands that the ICC reject Duterte’s request unequivocally and ensure that the investigation proceeds without obstruction.”

‘NOT A FLIGHT RISK’
In a 16-page urgent request dated June 12, Mr. Duterte’s lead counsel, Nicholas Kaufman, said an unnamed government had expressed willingness to receive the former president into its territory if the ICC grants interim release.

The country was not the Philippines, which withdrew from the ICC in 2019.

“Mr. Duterte is not a flight risk, and custody is not necessary to ensure his appearance before the Court,” the filing read. “Accordingly, there is more than good reason to believe that Mr. Duterte would not embarrass his hosts, and the hospitality afforded him, by violating the terms of his release.”

Mr. Duterte’s lawyer argued that the former president poses no flight risk or threat to the ICC proceedings, citing his global profile and diminished political power.

He argued Mr. Duterte would be easily located if needed and that his relocation to an undisclosed country would place him outside the jurisdiction of the alleged crimes. The defense also emphasized that Mr. Duterte no longer holds office and no longer wields the authority he allegedly abused.

Malacañang will abide by whatever decision the ICC makes on Mr. Duterte’s petition for interim release, according to Presidential Communications Undersecretary Clarissa A. Castro.

While deferring to the ICC’s jurisdiction, she raised questions about the language used in Mr. Duterte’s legal filing, suggesting that the defense’s claim he would “not continue to commit crimes” could be interpreted as an implicit admission of past wrongdoing.

Debt yields inch higher ahead of Fed policy meet

YIELDS on government securities (GS) traded at the secondary market moved mostly sideways last week as players stayed defensive ahead of US Federal Reserve’s policy meeting, where it is expected keep rates steady but provide fresh clues on the future path of its policy easing cycle.

GS yields, which move opposite to prices, went up by an average of 1.92 basis points (bps) week on week, according to PHP Bloomberg Valuation Service Rates data as of June 13 published on the Philippine Dealing System’s website.

At the short end of the curve, movements were mixed as the 91- and 182-day Treasury bills dropped by 0.09 bp and 3.97 bps week on week to yield 5.4404% and 5.57%, respectively. Meanwhile, the one-year note’s rate rose by 1.02 bps to 5.6916%.

At the belly, yields mostly rose. The rates of the three-, four-, five-, and seven-year Treasury bonds climbed by 2.52 bps (to 5.7925%), 4.27 bps (5.8707%), 5.02 bps (5.9509%), and 5.32 bps (6.1212%), respectively. On the other hand, the two-year paper slipped by 0.66 bp week on week to yield 5.7081%.

Lastly, the long end of the curve increased, with yields on the 10-, 20-, and 25-year bonds rising by 5.06 bps (to 6.5303%), 0.92 bp (6.6113%), and 1.74 bps (6.6163%), respectively.

Total GS volume traded reached P33.32 billion on Friday, lower than the P50.43 billion logged on June 5.

“Local bonds traded on the backfoot with yields higher by 3-7 bps as market continues to be defensive ahead of global uncertainties with regards to the US Federal Reserve’s rate path along with fiscal concerns in the US,” Security Bank Corp. Vice-President and Head of Fixed Income Dino Angelo C. Aquino said in an e-mail on Friday.

The Federal Reserve is widely expected to hold interest rates steady this week, with investors focused on new central bank projections that will show how much weight policymakers are putting on recent soft data and how much risk they attach to unresolved trade and budget issues and an intensifying conflict in the Middle East, Reuters reported.

Recent inflation data had eased concern that the tariffs imposed by President Donald J. Trump would translate quickly into higher prices, while the latest monthly employment report showed slowing job growth — a combination that, all things equal, would put the Fed closer to resuming its rate cuts.

Mr. Trump has demanded the US central bank lower its benchmark overnight interest rate immediately by a full percentage point, a dramatic step that would amount to an all-in bet by the Fed that inflation will fall to its 2% target and stay there regardless of what the administration does and even with dramatically looser financial conditions.

The Bangko Sentral ng Pilipinas (BSP) is also holding its own policy meeting on June 19 (Thursday), where it is expected to deliver a second straight 25-bp cut amid cooling inflation.

“The market is expecting the BSP to cut by 25 bps this month, but market players remain cautious as focus remains on supply risk rather than policy easing. With the market still digesting the new 10-year jumbo issuance, most players are wary of additional supply in the third quarter,” Mr. Aquino noted.

The Bureau of the Treasury (BTr) in April raised a total of P300 billion from its offering of new benchmark 10-year fixed-rate Treasury notes.

For this week, the GS market may take its cue from US Treasury yield movements and the result of the BTr’s T-bond offer, Mr. Aquino said.

The Treasury is offering P30 billion in reissued 10-year bonds on Tuesday with a remaining life of nine years and 10 months. — LPQB with Reuters

La Rose Noire taps Jin Navitas for power supply

(STANDING FROM LEFT TO RIGHT) Rolando Tungol, La Rose engineering manager; Neo Jade De Guzman, JNEC retail operations manager; Arnel Elizalde, La Rose admin manager; (seated from left to right) Michael Garcia, JNEC vice-president for sales and marketing; Winifredo Pangilinan, JNEC chief operating officer; Jose Alfonso Miras, JNEC vice-president for business development and market operations; Pamela Angelie Flores, La Rose assistant general manager; and Annalyn Martinez, La Rose senior operations manager.

GLOBAL pastry brand La Rose Noire has tapped Jin Navitas Electric Corp. (JNEC), the retail electricity supply arm of Palm Concepcion Power Corp., to support the power supply requirements of its operations in Pampanga.

In a statement over the weekend, JNEC said that La Rose Noire has switched its power supplier “to enhance power reliability and optimize electricity costs.”

Under the partnership, JNEC will provide electricity to support the pastry brand’s daily operations in Clark Free Port, where it produces artisan pastries and breads mainly for international markets, covering 60 countries.

“We are truly honored to be chosen and entrusted by a world-class brand that upholds global standards in product quality, hence, JNEC is fully committed to delivering efficient service to support La Rose’s continued excellence,” said Jose Alfonso Miras, JNEC’s vice-president for business development and market operations.

Founded in 1991, La Rose Noire supplies major hotels, airlines, and cruise lines worldwide. The pastry brand opened a factory in the Philippines in 2012, spanning 150,000 square feet.

JNEC said that the partnership with La Rose Noire reinforces the company’s “growing reputation as a dependable provider in the retail electricity market.”

The company also offers renewable energy supply generated through Solaris Inc. via conventional ground-mounted solar power plants and solar rooftop panels installed at different socialized housing projects. — Sheldeen Joy Talavera

Palay farmgate price falls 28.9% in May

PHILIPPINE STAR/EDD GUMBAN

THE farmgate price of palay (unmilled rice) fell 28.9% year on year in May to an average of P17.75 per kilogram, the Philippine Statistics Authority (PSA) reported.

Month on month, the palay farmgate price fell 1.6% in May from P18.04 in April, the PSA said.

The May decline widened from the 26.9% year-on-year retreat in April.

In May 2024, the farmgate price had averaged P24.95.

The declining prices of palay at the farmgate level may further discourage farmers from farming, which should concern the government, according to Samahang Industriya ng Agrikultura (SINAG) spokesman Jayson H. Cainglet.

“Our biggest worry is that farmers are further discouraged from planting rice,” he said via Viber.

“Latest PSA data suggest that close to 324,000 jobs were lost in the farming sector.”

SINAG noted that from April to May, the farmgate price was actually between P11-16 per kilo for freshly harvested grain.

“Farmers are discouraged when they experience low farmgate prices after investing months of hard work without guaranteed returns,” Mr. Cainglet said.

“High production costs and depressed farmgate prices are realities driving farmers away from agriculture.”

None of the 15 regions posted year-on-year growth in average farmgate prices in May, according to the PSA.

The highest palay prices were posted in the Bangsamoro region at P20.32.

The lowest palay prices were logged in Calabarzon at P14.02, with the farmgate price in the region falling 38.6% year on year and 7.7% month on month.

SINAG welcomed government moves to institutionalize a palay floor-pricing scheme, which is expected to be set at least 20% above production costs.

Mr. Cainglet said the government must immediately roll out cash incentives for rice farmers to encourage them to continue planting in the next cropping season, which is about to start.

“The key to encouraging our farmers to continue farming lies in guaranteeing fair farmgate prices,” he said. — Kyle Aristophere T. Atienza

Climate resilient schools sought

PHILSTAR FILE PHOTO

THE government must invest in more climate resilient schools to ensure continued learning for students, the United Nations Children’s Fund (UNICEF) said.

“Climate-related class disruptions deprive them of opportunities to develop the necessary foundational and socioemotional skills to thrive in the future,” Behzad Noubary, UNICEF Philippines representative said in a statement.

UNICEF said that the government should invest in infrastructure, curriculum, learning materials, teacher training, and alternative delivery modes to support flexible learning strategies when classes are disrupted.

“Education systems can be climate-resilient and can play a critical role in equipping the school community with the knowledge, skills, and values needed for the green transition,” the UN agency noted.

The UN organization also called on the Philippines to make Nationally Determined Contributions (NDC) more child sensitive which could provide “safe, equitable, and continuous access to quality education.”

“For children to achieve their full rights to education, the NDCs need to commit to adaptation measures to promote safe, equitable, and continuous access to quality education for all,” Mr. Noubary added.

The NDC is a national climate action plan that aims to modernize and pursue low carbon and resilient development for the agriculture, waste, industry, transport and energy sectors

Children in the Philippines are ranked second highest in the East Asia and the Pacific Region to the most vulnerable to climate risk, according to a UNICEF report.

The World Risk Index also showed that the county has been the most disaster-prone for the past three years. — Adrian H. Halili

Forward to the past: Zombie forms

ACTIVIST groups marched along Kalaw Ave., Manila on June 12, 2025. — PHILIPPINE STAR/RYAN BALDEMOR

(Second of two parts)

Part 1 described the hard Right, in its many appearances in different countries today, as populist backward projection. This Right longs for the past. Its nostalgia is steeped in an old, imperial, white supremacism.

So much grievance. Power was wrested — unfairly, they think — by hordes of colored people taking up white space for domination; notably, in Europe’s version as fear of being overwhelmed by migrants. And although a slightly different story, Britain’s Brexit also pivoted on anxiety over new waves of desperate foreigners, mostly non-white.

US President Donald Trump’s version also idealizes return to an economic order built on manufacturing, which is to say, a 19th Century Industrial Revolution idea. An idea whose time is gone. As gone, supposedly, as racism. Which, as it turns out, is by no means in the dustbin of history. Yet.

The Trumpian coup d’etat against democracy takes energy from a racism palpable, as well, in the turns-to-the-Right in Italy, Finland, Slovakia, Hungary, Croatia, and the Czech Republic. Racism is less discernible in Erdoğan’s Turkey and Modi’s India in their respective turns to conservative Islam and conservative Hinduism. But the democracy-corrosive bias deserves scrutiny.

Fundamentalism is by definition uncongenial to diversity — the obvious example being the racist and fundamentalist Southern Baptist Christians (“Born Again”) denominations in the US, that are the backbone of MAGA. These folks inherit a history of upholding slavery as divine fiat.

While the Philippines’ swing to President Rodrigo Duterte’s version of a hard Right does not seem powered by race-bound suprematicism, its anti-poor thrust barely hides the racial shadow of class politics in this country. And now, Ferdinand Marcos, Jr.’s rewriting of his father’s dictatorship as a golden age, a mestizaje wonderworld, vintage Imelda, the fair-skinned embodiment of autocracy.

In any case, the point has been made (notably by Maria Ressa on US television) that what’s happening in Trump’s US has already happened in the Philippines, the latter ahead by just a few months.

The erosion of democracy can happen quickly — this is the cautionary tale from the Philippines. Contests for truth are won by untruths endlessly repeated. Democracy is to the left of the hard Right, and worthy ideas such as human equality, human rights, and meritocracy erode with shocking abruptness.

That speed, that abruptness, is fueled by hardy constellations of ideas thought dead and gone. Indeed these ideas are undead and resurrect, zombie-like, and seemingly similar everywhere.

DIFFERENCES INSIDE SIMILARITIES
So, yes, the similarities are self-evident. On the other hand, the differences are more obscure and need unearthing tracking. Even the two Philippine presidents who swung so far right the experiences constituted national traumas, were vastly different.

Marcosian governance was ideological, embedded in the 1960s Cold War universal dualism. The Duterte years also resurrected a 1960s past. But rather than aligned along a cosmopolitan East/West divide, Duterte’s trajectory was a throwback to the souped-up warlordism of the mid-20th Century Mindanao; and even further back in time, to violent datu-hood.

Marcosian governance made internal sense within a mindset that assumed the prior right of the power center to “raw materials” in areas designated as marginal, and the use of armed force to prosecute this extractive economy. It reproduced the colonial presumption of previous centuries.

Dutertean governance made internal sense within the cultural history of a Mindanao that, in the mid-20th Century, experienced systematic terror campaigns — including massacres, macabre murders, and some cannibalism — as methodology for social order. It reproduced, if partially, the animistic cults of many centuries in rural and highland Philippines.

It is ironic that the word “right” was used for such horrific wrong.

Irony is a good handle for a second set of differences that might offer insight into global affairs. At least for Filipinos. These are the differences between and among various politics of grievance.

In the study after study, it is grievance that feeds cognitive decline everywhere and grinds down shared reality.

It does in fact work ironically. Data and analyses that in the democratizing latter half of the 20th Century were shared across class, gender, location, culture, and ideology so that a common destiny can be charted in peace — call it truth — are precisely what’s bludgeoned by systematic, anti-democratic campaigns. Supposedly in the interest of common destiny within a new, “disciplined” social order. Say, Dutertean peace.

Reassembled, also with grievance as glue, the bits and pieces come together as Frankensteinian forms of typically autocratic but democratic; typically, to reiterate, mutations of socio-economic and cultural ideas of previous centuries. Trump, for instance, wants desperately to lead a monarchy in a super-economy with an Industrial Revolution-era economic base.

It is instructive to therefore look into grievance, because it can’t possibly be the same all over the world.

GRIEVANCE IS PLURAL
White MAGA hordes resent the eclipse of their vintage prewar America caste system. Their revolutionary models are Hitler and Mussolini. Filipino grievance — whether of Marcos loyalists, Duterte diehards, Quiboloy adherents, El Shaddai faithful — concerns never having had a chance at wealth creation.

A fate-driven Filipino concept of lot-in-life, held by millions, means that only god-like leaders are viable instruments of salvation on earth. Their past — the mythical, quasi-divine aspects of Marcos, Duterte, populist religious leaders, and even major healers who, in the past, led dramatic rebellions against Spanish colonization.

Currently, there does not seem to be a similar myth-shrouded, far Right leader anywhere else. Not the same kind of tribal mythic operations. But, about the European Union, an analyst writes: “Our politics is no longer a battle between left and right. It is a battle between myths, and our institutions are the battleground. On one side, those who believe that the institutions of liberal democracy can meet the chaos of the times. On the other, people who see these same institutions as the cause of our fragmentation.”

And then there is grievance still oozing from festering historical injustice. The Muslim liberation fronts and myriad lost commands that fought wars of seccession from the Philippine Republic through the last 50 years, made recognition of grievance an overt and non-negotiable political project, fought for through war.

For an analogous situation, the current Palestinian experience of horror is close — except for the unspeakably huge scale of the current genocide in Gaza.

The continuing fidelity of a remarkable number of Filipino Muslims to President Duterte, beyond the fact of his incarceration by the International Criminal Court, partially accounts for the tenacity of the Philippines’ swing to the rabid right.

The continuing fidelity of a remarkable number of Americans to President Trump, beyond his cognitive decline, corruption, and idiocy, partially accounts for the tenacity of white supremacy beyond very real possibilities of democratic restoration, soon in the US.

Untangling differences and similarities is maddening. But figuring out the double whammy of far-Right politics and the back-to-the past imaginaries at a time when this is happening everywhere is urgent. Because — with the world careening into crypto economies building up from scraping and processing information — dragging 19th and 20th Century worldviews into problem solving and institution building today, could very be a literal zombie apocalypse.

 

Marian Pastor Roces is an independent curator and critic of institutions. Her body of work addresses the intersection of culture and politics.

Trump promises immigration order soon on farm and leisure workers

REUTERS/EVELYN HOCKSTEIN

WASHINGTON — US President Donald Trump said he would issue an order soon to address the effects of his immigration crackdown on the country’s farm and hotel industries, which rely heavily on migrant labor.

“Our farmers are being hurt badly and we’re going to have to do something about that… We’re going to have an order on that pretty soon, I think,” Mr. Trump said at a White House event, adding that the order would address the hotels sector, too.

He did not say what changes the order would implement or when it would take effect. Representatives for the White House and Department of Homeland Security (DHS) had no specific comment about the order, while representatives at the Department of Agriculture could not be immediately reached.

“We will follow the president’s direction and continue to work to get the worst of the worst criminal illegal aliens off of America’s streets,” DHS Assistant Secretary Tricia McLaughlin said.

US farm industry groups have long wanted Mr. Trump to spare their sector from mass deportations, which could upend a food supply chain dependent on immigrants.

Nearly half of the nation’s approximately 2 million farm workers, and many dairy and meatpacking workers lack legal status, according to the departments of Labor and Agriculture.

US Agriculture Secretary Brooke Rollins told CNBC that Mr. Trump was reviewing all possible steps, but that Congress would have to act.

Zippy Duvall, president of the American Farm Bureau Federation, a leading farm lobby, said on Thursday that farm workers were key to the nation’s food supply.

“If these workers are not present in fields and barns, there is a risk of supply-chain disruptions similar to those experienced during the pandemic,” Mr. Duvall said in a statement.

The COVID-19 pandemic resulted in labor shortages and supply-chain snarls, with meat plants forced to idle and dairy farms to dump milk, and consumers encountering emptier shelves at grocery stores.

In recent days, demonstrations have been taking place in major US cities to protest immigration raids.

Mr. Trump is carrying out his campaign promise to deport immigrants in the country illegally. But protesters and some Trump supporters have questioned the targeting of those who are not convicted criminals, including in places of employment such as those that sparked last week’s protests in Los Angeles.

On Thursday, Mr. Trump acknowledged the impact of the crackdown on sectors such as the hotel industry, which includes his company. The Trump Organization has said Mr. Trump’s adult sons are running his business.

“Our great farmers and people in the Hotel and Leisure business have been stating that our very aggressive policy on immigration is taking very good, long time workers away from them, with those jobs being almost impossible to replace,” he wrote on his social media platform. “Changes are coming!”

Farmers have a legal option for hiring temporary or seasonal labor with the H-2A visa program, which allows employers to bring in seasonal workers if they can show there are not enough US workers willing, qualified and available to do the job.

Ms. Rollins said Mr. Trump was “looking at every potential tool in the toolkit” and pointed to the length of the temporary H-2A visas.

“The president understands that we can’t feed our nation or the world without that labor force, and he’s listening to the farmers on that,” she told CNBC. — Reuters

Labubu-maker Pop Mart diversifies into jewelry with new concept store

THE MONSTERS - I FOUND YOU VINYL FACE DOLL — POPMART.COM

SHANGHAI — “Blind box” toymaker Pop Mart, which has seen frenzied sales worldwide for products related to its ugly-cute Labubu character, opened its first jewelry store in Shanghai on Friday.

The jewelry concept store, called Popop, sells accessories adorned with Pop Mart’s top-selling characters, including Labubu, Molly, and Skullpanda.

While Chinese consumption remains subdued in the face of a prolonged property downturn and sluggish economy, Pop Mart’s affordable and adorable toys have remained in high demand both at home and abroad, driving its share price up more than 200% so far this year.

Investor Zhang Zhanming, 34, who owns Pop Mart stocks worth 100 million yuan ($13.92 million), flew from his base in the southwestern Chinese city of Chongqing for the opening to check out the new store type and decide whether to increase his shareholding in the company.

“I believe that the pricing and target audience for this brand are particularly well-suited, and I am confident that Pop Mart could potentially become China’s version of Disney,” Mr. Zhang said, predicting that the company’s market cap could double from its current $45.65-billion valuation.

Along with some Disney characters and others related to anime, comics, and popular video games, Pop Mart’s characters are seen as fulfilling what has been called “emotional consumption,” which sees young consumers spend on affordable luxuries that bring joy into their lives.

Fang Ke, 35, who has a birthday coming up this month decided to treat herself to a 699 yuan Labubu bracelet at the opening.

“I’ve loved Pop Mart for a long time; it’s good-looking, brightly colored, and also has a visual impact,” she said. “My daughter likes it, too.”

At Popop, prices start at around 350 yuan for charms or a simple silver ring, and go as high as 2,699 yuan for necklaces adorned with metallic models of the characters. Most pieces are priced at under 1,000 yuan.

At a traditional Pop Mart store, the “blind box” toys that the chain is best known for generally sell for 69 yuan and up, but consumers have shown a willingness to shell out much more for limited editions.

Early last week, a Beijing auction house sold a human-sized Labubu figure for 1.08 million yuan, setting a new record and marking the toy’s switch from craze to collectible. — Reuters

Bosch batteries now more easily available in Mindanao

From left are HE& Sons Corp. Operations Manager Lloyd Monteroyo; Karrjackson Operations Manager PJ Antonio; HE & Sons Corp. GM Ronald Remoto; HE & Sons Corp. VP for Admin and Finance Henrik Kelly Yu; Jammy Jabola, Yudj Astani, and Toto Antonio of Bosch; and Anthony Toldo of HE & Sons. — PHOTO FROM BOSCH PHILIPPINES

BOSCH RECENTLY solidified a strategic partnership with three distributors — Global Synergy Trade and Distribution, HE & Sons Corp., and Philippine Reachwell Distribution Corp. — to enhance the availability of its high-quality automotive, motorcycle, and commercial vehicle batteries in the Mindanao region. These distributors, recognized as battery specialists, are said to “bring expert knowledge in battery handling, storage, maintenance, and sales.” They have also received specialized product and technical training on Bosch products.

The official partnership signing was attended by key representatives, including Bosch Battery Powerhouse Head for ASEAN Grace Mok, Bosch Battery Technical Trainer for ASEAN Yudj Astani, and Bosch Philippines Battery Product Manager Abraham Jabola. “This milestone strengthens our presence in Mindanao. We’re making sure more drivers have access to Bosch battery tech — through trained, trusted local partners,” said Bosch Philippines Managing Director Paulo Duarte. “That’s the kind of commitment that comes with over 100 years of battery leadership.”

Known for their durability, high cranking power, and long lifespan, Bosch batteries are engineered to ensure reliable engine starts in all weather conditions. Bosch’s advanced technologies, such as AGM (Absorbent Glass Mat) and EFB (Enhanced Flooded Battery) designs, are key to their performance and longevity.

“This is only the beginning of expanding the Battery Specialists Program across the Philippines. In the coming months, we are committed to increasing the number of certified Battery Specialists nationwide,” added Bosch Philippines Battery Product Manager Abraham Jabola.

HE & Sons Corp. covers the areas of Bukidnon, Camiguin, Lanao Del Norte, Misamis Occidental, Misamis Oriental, Cagayan De Oro, Butuan, Agusan Del Sur, Agusan Del Norte, and Dinagat Island. Contact 0917-597-5145. Global Synergy Trade and Distribution covers Davao De Oro, Davao Del Norte, Davao Del Sur, Davao Occidental, Davao Oriental, Cotabato, Saranggani, South Cotabato, Sultan Kudarat, Isulan, General Santos, Surigao Del Sur, and Surigao Del Norte. Contact 0919-069-5266 or glenn.mantilla@gstd.ph. Philippine Reachwell Distribution Corp. serves Zamboanga Del Norte, Zamboanga Del Sur, and Zamboanga Sibugay with contact numbers (062) 955-2933, 0917-723-6433, 0917-107-7975, and 0917-701-0055.

Yields on BSP bills move sideways

BW FILE PHOTO

YIELDS on the Bangko Sentral ng Pilipinas’ (BSP) short-term securities ended mixed on Friday, even with both tenors oversubscribed despite fetching lower tenders.

The BSP bills fetched bids amounting to P144.219 billion on Friday, higher than the P130-billion offer but lower than the P160.207 billion in tenders for the P140-billion auctioned off on June 9. The central bank fully awarded its offering of securities.

Broken down, tenders for the 28-day BSP bills reached P60.602 billion, above the P50-billion placed on the auction block but lower than the P63.802 billion in bids seen for the P60-billion offer in the previous auction. The BSP made a full P50-billion award of the one-month papers.

Accepted rates ranged from 5.53% to 5.6%, a tad narrower than the 5.52% to 5.62% band seen a week earlier. This caused the average rate of the one-month securities to inch down by 0.53 basis point (bp) to 5.5799% from 5.5852% previously.

Meanwhile, bids for the 56-day bills amounted to P83.617 billion on Friday, slightly higher than the P80-billion offering but below the P96.405 billion in tenders for the same volume offered by the BSP on June 9. The central bank fully awarded P80 billion in two-month securities.

Banks asked for yields ranging from 5.545% to 5.597%, slimmer than the 5.5375% to 5.61% margin seen a week prior. With this, the average rate of the 56-day securities edged up by 0.12 bp to 5.5835% from 5.5823% logged in the previous auction.

The central bank fully awarded its offer of short-term BSP bills (BSPB) as rates were “broadly stable,” it said in a statement.

“Weighted average interest rates were largely unchanged,” it said.

“The BSP reduced the total offer volume to P130 billion from P140 billion previously, lowering the 28-day offering to P50 billion from P60 billion and maintaining the 56-day offering at P80 billion. Total tenders declined to P144.219 billion from P160.207 billion in the week prior. Nonetheless, both tenors were oversubscribed, with bid-to-cover ratios of 1.21 times for the 28-day tenor and 1.05 times for the 56-day tenor,” the central bank added.

The central bank uses the BSP securities and its term deposit facility to mop up excess liquidity in the financial system and to better guide short-term market rates towards its policy rate.

The BSP bills also contribute to improved price discovery for debt instruments while supporting monetary policy transmission, the central bank said.

The central bank securities were calibrated to not overlap with the Treasury bill and term deposit tenors also being offered weekly.

Data from the central bank showed that around 50% of its market operations are done through its short-term securities.

The BSP bills are considered high-quality liquid assets for the computation of banks’ liquidity coverage ratio, net stable funding ratio, and minimum liquidity ratio.

They can also be traded on the secondary market. — A.M.C. Sy

NEA directed to facilitate joint procurement of RE supply

EVENING_TAO-FREEPIK

THE Department of Energy (DoE) has directed the National Electrification Administration (NEA) to facilitate joint bidding to help electric cooperatives (ECs) comply with the requirements of the renewable portfolio standards (RPS) program.

“The joint conduct of a CSP to meet the RPS requirements of ECs serves the purpose of matching available and potential RE supply with demand and providing ample leverage to ECs in terms of price by consolidating EC demand and securing a uniform rate,” the DoE said in a department order dated June 11.

The RPS, a key component of the Renewable Energy Act of 2008, aims to encourage increased use of renewable energy sources.

Under the program, electric power industry participants — including ECs, distribution utilities, and retail electricity suppliers — are required to source a portion of their energy supply from eligible renewable energy resources.

Starting 2023, on-grid power suppliers were directed to increase the share of renewables in their energy mix to 2.52% from 1% previously.

NEA, which is mandated to supervise the management and operations of all ECs, has been tasked with issuing the rules, guidelines, and terms and conditions for conducting a joint competitive selection process (CSP).

The CSP mechanism requires power distributors to procure the least-cost electricity supply through competitive bidding.

“The NEA shall facilitate the timely execution of the power supply contracts between the concerned ECs and the generation companies operating RPS-eligible facilities,” the DoE said.

The agency also instructed NEA to require all relevant ECs to update their power supply procurement plans based on their RPS requirements and compliance plans to determine shortfall volumes.

In addition to the guidelines, NEA must also draft the terms of reference and other bidding documents aligned with the RPS compliance plans of ECs.

“The NEA shall monitor and supervise the compliance of the ECs with their responsibilities and obligations under the joint CSP,” the department said. — Sheldeen Joy Talavera

3,200 jobs created at San Fernando port in 1st half

BCDA

AROUND 3,200 jobs were created at the San Fernando International Seaport in the first half under the interim operation and management of Poro Point Management Corp. (PPMC), the Bases Conversion and Development Authority (BCDA) said.

“The PPMC has earned P50 million in revenue between December 2024 and May 2025 during its interim operation and management of the San Fernando International Seaport in the Poro Point Freeport Zone, La Union,” the BCDA said in a statement over the weekend.

“The port’s growing viability as a key logistics node in Northern Luzon has also created around 3,200 jobs within the first half of 2025,” it added.

According to the BCDA, the port’s earnings came from leases, vessel and cargo fees, and the government share of port services.

“This performance affirms the potential of San Fernando International Seaport as a vital logistics and investment hub,” BCDA President and Chief Executive Officer Joshua M. Bingcang said.

“As we continue to modernize our ports, we are opening more doors for trade, employment, and inclusive growth in the region,” he added.

To support this growth, the BCDA said that the PPMC has been carrying out major repairs and upgrades at the port.

These include refurbishment of port offices and facilities, replacement of rubber fenders and concrete curbs, upgrading of electrical lines, establishment of a systematic waste disposal mechanism, and technical assessment and benchmarking.

“The rehabilitation and expansion of the San Fernando International Seaport will help drive opportunities for Northern Luzon,” PPMC President and Chief Executive Officer Felix Racadio said.

“It will create jobs for local residents, bring in new businesses, and gain traction in the tourism sector,” he added.

Meanwhile, the PPMC said that a new tariff structure for cargo handling and port service fees was approved and took effect on June 5.

This will enable “more stable and sustainable revenue streams moving forward,” the BCDA said.

“With its solid interim performance, upgraded facilities, and local workforce engagement, the BCDA and the PPMC are optimistic that the San Fernando International Seaport is poised to play a leading role in Northern Luzon’s economic transformation,” it added. —  Justine Irish D. Tabile