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Greening the road

PHOTO BY KAP MACEDA AGUILA

Vietnam-based GSM unveils all-electric taxi fleet in the Philippines

SAY WHAT you will about the electrification of mobility in the Philippines and its attendant speed bumps and all. It’s still happening. That’s not soot you’re smelling; it’s an air of inevitability. In whatever form — from traditional hybrids to plug-ins to battery electrics — the internal combustion engine is losing its once-exclusive place in your engine bay in favor of a hybrid one or, sometimes, even a frunk (front trunk). Even a cursory look around an average mall parking lot will show a growing number of electrified options.

In fact, one could say that growth is actually outpacing the availability of public charging facilities. But that’s for another story.

Green and Smart Mobility Stock Company (or, simply, GSM) recently launched its service here in the Philippines. Not just another taxi or ride-hailing fleet, Green GSM is the first all-electric taxi service in the country — deploying an initial 500 battery electric vehicles (BEVs) in the National Capital Region (NCR).

According to the Board of Investments (BoI), the company (owned by Vingroup Founder and Chairman Pham Nhat Vuong) is sinking in US$500 million for the service. In an exclusive interview with “Velocity,” Green GSM Philippines President and Managing Director Phi Dao revealed that the amount is merely an “initial investment” that includes the taxis themselves, plus the construction of depots and charging stations, and other costs of doing business. Factored in as well is the training of its drivers. GSM intends to scale up business rather rapidly — eyeing the rollout of 15,000 vehicles in two to three years.

Unlike traditional ride-hailing platforms like Grab, Green GSM retains ownership of the fleet — with drivers hired as employees. “We recruit the drivers to drive our own cars,” underscored Mr. Dao. “We think this is the only way we can maintain service quality, and (positive) driver behavior.” The control, of course, is said to extend to the car as well. Taken together, it’s a business model that Mr. Dao hopes this will enable Green GSM to be a “five-star taxi” in the country.

The first thing you need to know about the service, booked through the Green GSM app, is that it does not feature the typical VinFast vehicles you’ll see in the showroom. What it does have are dedicated models for the commuting public. There’s the Limo Green, Minio Green, Herio Green, and the Nerio Green — the last model we saw a lot of at the formal launch of Green GSM held at the Quezon Memorial Circle. For now at least, the firm will deploy “an exclusive fleet of VinFast Nerio Green electric vehicles, offering smooth, quiet rides and zero emissions,” all with the signature exterior cyan hue “blending green (symbolizing sustainability) and blue (representing innovation).”

A recent release revealed that Green GSM app “soared to the top of the Travel & Local category on the Google Play Store Philippines, surpassing other platforms even before its official debut.” Following the official launch here, “tens of thousands of downloads” were made.

In case you didn’t notice, VinFast doesn’t sell any of the Green GSM models here. “We have two different model types for the business,” explained the executive. “The first one is for private use, with a lot of options like entertainment and we make it more comfortable for very, very long trips. But for the taxi business, we are focusing on short trips, and we want to make the special versions suitable for these.”

I asked Mr. Dao wouldn’t it be a perfect opportunity though for would-be VinFast buyers to experience the actual models in the VF line?

“That’s a good question,” he replied. “In Vietnam, Indonesia, and Laos where we have the service, we would like to cut off some options because it’s for public use. In its place we have support systems like CCTV coverage for the protection of both driver and passengers. We’ve heard feedback that our customers also prefer this. It makes them feel more secure.”

In a release, Green GSM also claimed that it “(leverages) AI to enhance operational efficiency, safety, and transparency. Fares are transparently calculated through in-car meters and clearly displayed on the Green GSM app. Pricing is highly competitive and offers greater value compared to conventional ride-hailing services, ensuring comfort, convenience, and affordability for every ride.”

Aside from the actual vehicles, the company will establish a network of charging stations. “Actually, the number of charging stations will develop according to number of cars we bring to the market,” Mr. Dao noted, stressing that the charging points and government permits will, to a large extent, dictate the rollout speed. Add to this the careful, deliberate process by which the company hires drivers. “We have more than a thousand applications,” he continued. “We have to do the screening — interview, health check, training. Not all pass, of course. But we think it’s fair because we target to be a five-star taxi company.”

The Green GSM executive described today as “the perfect time” to come to the Philippines. “The Philippines and Vietnam are neighbors. We have quite similar cultures, and… a similar vision.” As he acknowledged that the EV charging infrastructure here is not as robust or developed, Mr. Dao thinks it is an opportunity. “I think this is very great chance for us, because everywhere, every country we go, we always bring the ecosystem with us. Just like the chicken and egg, people worry about the chicken or egg, which one comes first, but we always bring the chicken and egg together.”

He maintained that the company enlists the help of partners to help provide a solid charging network for Green GSM — and, of course, its “cousin” VinFast marque.

Yields on BSP bills go down following rate cut

BW FILE PHOTO

YIELDS on the Bangko Sentral ng Pilipinas’ (BSP) short-term securities ended lower on Friday, even as the offer went undersubscribed, after it delivered a second straight rate cut.

The BSP bills fetched bids amounting to P114.299 billion on Friday, higher than the P110-billion offer but lower than the P144.219 billion in tenders for the P130-billion auctioned off on June 13. The central bank partially awarded its offering of securities as the one-month tenor was undersubscribed.

Broken down, tenders for the 28-day BSP bills reached only P46.322 billion, below the P50-billion placed on the auction block as well as the P60.602 billion in bids seen for the same offer volume the prior week. The BSP accepted all the submitted bids.

Banks asked for rates ranging from 5.28% to 5.9%, much wider than the 5.53% to 5.6% band seen a week earlier. This caused the average rate of the one-month securities to decline by 8.94 basis point (bps) to 5.4905% from 5.5799% previously.

Meanwhile, bids for the 56-day bills amounted to P67.977 billion on Friday, higher than the P60-billion offering but lower than the P83.617 billion in tenders for the P80 billion offered by the BSP on June 13. The central bank fully awarded P80 billion in two-month securities.

Accepted rates were from 5.29% to 5.58%, a lower and wider range compared to the 5.545%-5.597% margin seen the week prior. With this, the average rate of the 56-day securities dropped by 6.21 bps to 5.5214% from the 5.5835% logged in the previous auction.

The BSP bills (BSPB) fetched lower average rates on Friday following the policy rate cut announced the day prior, the central bank said in a statement.

The BSP slashed its target reverse repurchase rate by 25 bps to 5.25% at its policy meeting on Thursday, as forecasted by 15 out of 16 analysts in a BusinessWorld poll.

The Monetary Board has now reduced benchmark borrowing costs by 125 bps since it began its easing cycle in August last year. BSP Governor Eli M. Remolona, Jr. said they could deliver at least one more 25-bp cut this year, depending on the data.

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. — AMCS

ERC clears transmission projects of five energy firms

PHILSTAR FILE PHOTO

THE Energy Regulatory Commission (ERC) has approved five point-to-point transmission facility projects from separate energy companies to enable the connection of their power plants to the grid for electricity export.

In its latest notice, the ERC approved the applications of SMGP Power BESS, Inc. (SMGP), Energy Development Corp. (EDC), Megasol Energy 1, Inc. (ME1I), Cornerstone Energy Development, Inc. (CEDI), and Sapang Balen Solar Sustainable Energy Corp. (SBSSEC) for the development of dedicated limited transmission facilities.

The ERC authorized SMGP to develop and own the point-to-point transmission facilities that will connect its 60-megawatt (MW) Lumban Battery Energy Storage System (BESS) to the Luzon grid through a direct link to the 69-kilovolt (kV) Lumban Substation of the National Grid Corp. of the Philippines (NGCP).

EDC was granted approval to build a transmission facility to connect its 5.645-MW Bago Binary Geothermal Power Plant to NGCP’s 138-kV Bacolod Substation.

CEDI also secured approval to construct facilities that will connect its 58.5-MW Camarines Sur Wind Power Project to the grid via a tap connection to NGCP’s Naga-Libmanan 69-kV transmission line.

The commission allowed ME1I to develop dedicated facilities to connect its 41.244-MW alternating current Gamu Solar Power Plant Project to NGCP’s 69-kV Gamu-Roxas Transmission Line.

SBSSEC received authorization to install transmission facilities linking its 463.995-MW Sapang Balen 2 Solar Power Plant (SPP) to the grid via an interim connection to NGCP’s Mexico-Concepcion 230-kV Line, and subsequently to the Magalang 230-kV Substation.

While the ERC granted the approvals, it said the projects remain “subject to the conditions presented and the instructions of the Commission during the deliberation.”

Chairperson and Chief Executive Officer Monalisa C. Dimalanta was authorized to sign the decisions for and by authority of the Commission, the ERC said. — Sheldeen Joy Talavera

World’s largest Legoland set to open in Shanghai

LEGO.COM

SHANGHAI — One of the star attractions at Legoland Shanghai, which officially opens on July 5, is likely to be a mini replica of the Shanghai waterfront and skyscrapers of the Lujiazui financial district, all built in the colorful plastic bricks.

The Shanghai resort, which will be the world’s biggest Legoland so far and the first in China, features eight themed sections that will feel familiar to fans of Lego. They include Ninjago, Lego Friends, and Monkie Kid lands, in which classic Lego pieces are brought to life and supersized — though not big enough to meet everyone’s expectations.

“I thought it would be huge, but it turned out to be half of the scale I dreamed… But the attractions are beyond my expectation,” said Lyu Xiaole, a very grown-up seven-year-old whose family was among those able to get limited tickets for a pre-opening visit on Friday.

China’s economy has been hit by weak consumer spending in recent years amid a prolonged property slump and high youth unemployment, but Legoland Shanghai will be counting on resilient domestic travel and “experience” spending which have remained strong.

Legoland Shanghai is operated by a joint venture between Merlin Entertainments, which runs Legoland parks around the world, and the Shanghai Jinshan District local government.

The replica of downtown Shanghai and the city’s waterfront is housed in the “Miniland” building at the site, where skyscrapers face the colonial era splendor of buildings along Shanghai’s famed Bund promenade.

The Miniland creations took 168,000 hours to complete, using more than 20 million bricks.

“I think it’s best to play Lego in Legoland because I have much less Lego at my place,” said seven-year-old Shen Jieqi.

Lego, the Danish family-owned toymaker that produces the bricks, is a familiar name in China where it has more than 400 stores.

In Shanghai, Legoland will offer another leisure space in the city for those who can afford it. Tickets will start from 319 yuan ($44.46) in low season and up to 599 yuan on peak days.

“We came very early in the morning. The atmosphere in the park is very joyful. The staff are full of passion,” said Huang Xuanhua, 44, who lives close to the resort in Shanghai’s Jinshan district and visited on Friday. “It has been a joyful day.” — Reuters

A call for holistic, integrated, gender-responsive care

STOCK PHOTO | Image by pressfoto from Freepik

Gender inequalities continue to pose significant barriers to health, limiting access to essential services and increasing health risks for women and girls. Addressing these inequalities is not just a matter of fairness; it is a public health imperative. A gender-responsive health system is crucial for realizing the promise of Universal Health Care (UHC) and for ensuring that no one is left behind in the journey toward health for all.

According to the World Health Organization (WHO), a gender-responsive health system acknowledges and addresses the ways in which gender norms, roles, and power dynamics influence health outcomes. It actively works to counteract harmful practices and biases, ensuring that everyone — regardless of gender identity or socioeconomic status — can access high-quality, affordable healthcare services. Such systems are particularly vital in countries like the Philippines, where social and economic inequities exacerbate health disparities faced by women, especially those in vulnerable communities.

This call for action was echoed powerfully at the recent “She Matters: Women’s Health Summit” in Manila. More than 60 physicians, educators, researchers, and health advocates came together at this two-day summit to spotlight the unique health challenges that Filipino women face across different stages of life. The summit served as both a platform for dialogue and a rallying point for meaningful change.

Central to the discussions were two often-overlooked pillars of women’s health: cardiometabolic health and reproductive health. Cardiometabolic health refers to the complex interaction between cardiovascular and metabolic systems, encompassing conditions such as heart disease, diabetes, hypertension, and obesity. These conditions are not only prevalent but are also among the leading causes of death and disability among women globally.

Reproductive health, as defined by the WHO, is more than the absence of disease — it is a state of complete physical, mental, and social well-being in all matters relating to the reproductive system. This includes the right to have a satisfying and safe sex life, the capability to reproduce, and the freedom to decide if, when, and how often to do so.

Too often, women’s health is seen through a fragmented lens, with care delivered episodically rather than across the life course. Dr. Leilanie Nicodemus, Director of the Center for Gender and Women Studies at the University of the Philippines-Manila, emphasized the need to shift from this piecemeal approach to one that recognizes women’s evolving health needs from menarche to menopause and beyond. “When we address cardiometabolic conditions, mental well-being, and reproductive health together,” she noted, “we create systems that support women beyond the clinic walls.”

Indeed, health is shaped by far more than biology. Structural inequities, social expectations, economic constraints, and cultural beliefs all play decisive roles in determining health outcomes for women. A truly gender-responsive health system takes these realities into account, designing policies and interventions that are inclusive, respectful, and equitable.

The summit tackled these issues through high-level discussions on cardiovascular disease, diabetes, fertility, menopause, hypothyroidism, mental health, and the rising use of vaping among young women — a concerning trend with long-term implications. It also featured a multisectoral workshop where participants identified persistent gaps in the healthcare system: limited access to diagnostics and specialist care, fragmented referral systems, and a lack of awareness about gender-specific disease presentations. They proposed practical solutions, including the strengthening of referral networks, expanded community-based health education, and policy advocacy tailored to Filipino women’s needs.

“‘She Matters’ is not just the summit’s title — it is a declaration,” said Martha Paiz, Board Member of the Pharmaceutical and Healthcare Association of the Philippines (PHAP) and Managing Director of Merck Philippines. “Women’s health is foundational to the well-being of families, communities, and the country’s healthcare system.”

Dr. Joey Tabula, Senior Medical Manager at Merck Philippines, echoed this sentiment, underscoring the importance of empathy and inclusion in healthcare. “Advancing women’s health isn’t just about medicine,” he said. “It’s about standing with women, listening to their concerns, and building systems that truly work for them.”

The summit’s conclusion was not the end, but the beginning of renewed commitments. Delegates pledged to share their insights within their institutions and communities, and to work toward health systems that listen more closely to, act more boldly for, and stand more firmly with Filipino women.

Gender-responsive care is not an abstract concept. It is a practical, necessary shift that can save lives, improve well-being, and strengthen societies. Women’s health must no longer be treated as a side issue or seasonal concern. It should be central to national health strategies, recognized for its profound impact on economic productivity, family stability, and sustainable development.

PHAP and its member companies remain steadfast in supporting initiatives like “She Matters” that promote inclusive, evidence-based, and collaborative approaches to healthcare. By fostering partnerships across sectors and empowering healthcare professionals to advocate for women as individuals with unique stories, roles, and rights, we move closer to building a healthcare system that truly serves all.

As the call from “She Matters” reminds us: women’s health matters — not just to women, but to all of us.

 

Teodoro B. Padilla is the executive director of Pharmaceutical and Healthcare Association of the Philippines which represents the biopharmaceutical medicines and vaccines industry in the country. Its members are in the forefront of research and development efforts for COVID-19 and other diseases that affect Filipinos.

Trump suspends enforcement of Biden-era farmworker rule

WASHINGTON — President Donald Trump’s administration said on Friday it was suspending enforcement of a “burdensome” farmworker rule from former President Joe Biden’s administration.

The 2024 rule provided protection for workplace organizing to foreign farmworkers in the US on H-2A visas. The Department of Labor said the rule had already been suspended because of federal injunctions.

“The decision provides much-needed clarity for American farmers navigating the H-2A program, while also aligning with President Trump’s ongoing commitment to strictly enforcing US immigration laws,” the department said in a statement.

“As multiple federal court injunctions have created significant legal uncertainty, inconsistency, and operational challenges for farmers lawfully employing H-2A workers, this field assistance bulletin clarifies that the department will not be enforcing the 2024 final rule effective immediately.”

The H-2A visa program allows farmers to bring in an unlimited number of foreign seasonal farmhands if they can show there are not enough US workers willing, qualified and available to do the job.

The program has grown over time, with 378,000 H-2A positions certified by the Labor department in 2023, three times more than in 2014.

That figure is about 20% of the nation’s farmworkers, according to the USDA.

Mr. Trump said last week he would take steps soon to address the effects of his immigration crackdown on the country’s farm and hotel industries, which rely heavily on migrant labor. — Reuters

‘E-luxe’ people mover

The all-electric Zeekr 009 seven-seater is priced at P4.199 million, while the six-seater costs P4.399 million. — PHOTO BY KAP MACEDA AGUILA

Zeekr brings in all-electric ‘luxury MPV’

By Joyce Reyes-Aguila

LOCAL DISTRIBUTOR Autohub Group recently relaunched the Zhejiang, China-headquartered new energy vehicle marque Zeekr with the introduction of the Zeekr 009, a fully electric, luxury multi-purpose vehicle (MVP) — said to be the first of its kind in the Philippines.

Zeekr Philippines Principal and Autohub Group President Willy Tee Ten described the MPV as a vehicle that offers “power, innovation, and comfort… without compromising on luxury and safety. Zeekr has been known in the EV segment as (boasting) luxury, if not ultra-luxury. This is our chance to level-up the Filipino experience in electric vehicle rides.”

Two models are available in the market, the Executive six-seater and the Lounge seven-seater. The fully electric vehicle is equipped with a dual-motor drive system and can deliver 580kW (777hp) and 810Nm of torque. Acceleration time from a standstill to 100kph is a claimed 3.9 seconds. Meanwhile, its 108-kWh Li(NiCoMn)O2 battery provides up to 702km of range between charging sessions. According to the brand, the MPV provides a “first-class cabin experience” with Sofaro premium airline seats on the second row, a foldable table, and Nappa leather upholstery. All seats, including the first row, have electric massage functions.

Enhanced ride comfort comes from air suspension and the CCD Electromagnetic Vibration Reduction System, “minimizing road disturbances.” The Zeekr 009 gets a 15.05-inch touchscreen OLED display, a ceiling-mounted 17-inch OLED display for rear passengers, and a 30-speaker Yamaha surround system.

Safety features include seven air bags and a high-strength integrated rear aluminum structure.

Zeekr International Vice-Chief Marketing Officer Derek Peng, in town for the launch, reported on the company’s goals and achievements. According to him, the Chinese brand has sold more than 470,000 units in the past four years, and targets to sell 320,000 vehicles worldwide in 2025. “(The goal is to deliver) one million units to the global consumers annually by 2026,” he revealed. “(We want to make) Zeekr one of the world’s most respected luxury new energy car groups.

“The Zeekr 009… changed the luxury mobility experience of our consumers and as a luxury brand, we believe in tailor-making the 009,” he continued. “(Our) consumer-centric mindset (has led) to some very notable achievements, (such as) success in the Southeast Asian right-hand drive market where the 009 is the region’s first luxury MPV, surpassing 1,500 units in sales. In Hong Kong, China, it’s dominating as an all-electric luxury MPV since its debut last year in April and claimed the top-selling MPV position in April 2025.”

Both executives announced that the opening of the brand’s Bonifacio Global City showroom is scheduled this month. The launch also provided guests with the opportunity to preview the Zeekr 7X electric mid-size crossover sport utility vehicle (SUV).

The Zeekr 009 seven-seater is priced at P4.199 million, while the six-seater costs P4.399 million. Autohub is offering a special introductory price of P3.999 million and exclusive down payment terms valid until the end of June.

Yields on gov’t debt rise amid geopolitical risks

YIELDS on government securities (GS) ended slightly higher last week amid the continued rise in US Treasuries due to safe-haven demand amid the worsening conflict between Iran and Israel.

However, the rise in yields was capped at the end of the week after the Bangko Sentral ng Pilipinas (BSP) delivered a second straight rate cut on Thursday while signaling further easing to support growth amid benign inflation and global uncertainties.

GS yields, which move opposite to prices, increased by an average of 3.81 basis points (bps) week on week, data from the Bloomberg Valuation Service Reference Rates as of June 20 published on the Philippine Dealing System’s website showed.

Rates of all tenors rose except the 364-day Treasury bill (T-bill), which dropped by 0.74 bp to fetch 5.6842%.

At the short end, yields on 91- and 182-day T-bills increased by 3.1 bps and 5.13 bps to 5.4714% and 5.6213%, respectively.

At the belly of the curve, the rates of the two-, three-, four-, five-, and seven-year Treasury bonds (T-bonds) went up by 2.94 bps (to 5.7375%), 3.33 bps (5.8258%), 3.92 bps (5.9099%), 4.79 bps (5.9988%), and 6.45 bps (6.1857%), respectively.

Lastly, at the long end, the 10-, 20-, and 25-year debt papers climbed by 6.28 bps, 3.65 bps and 3.06 bps to yield 6.4131%, 6.6478%, and 6.6469%, respectively.

GS volume traded fell to P27.93 billion on Friday from the P33.32 billion traded a week prior.

“Government securities saw mixed movements [last] week… reflecting cautious sentiment,” Jonathan L. Ravelas, senior adviser at professional service firm Reyes Tacandong & Co., said in an e-mail.

“The BSP’s 25-bp policy rate cut prompted a mild rally in longer-dated bonds as investors priced in easing inflation and slower growth. Market players shifted to medium- and long-term securities, expecting further monetary accommodation,” Mr. Ravelas added.

Yields were mostly higher as the BSP’s policy decision was mostly priced in already before the meeting, a bond trader said.

“It looks like we can expect the BSP to hold in the August monetary policy meeting given expected higher inflation in July amid the increase in oil prices and provisional fare hike,” the trader said.

On Thursday, the Monetary Board lowered benchmark interest rates by 25 bps for a second straight meeting, bringing the target reverse repurchase rate to 5.25%, as expected by 15 out of 16 analysts in a BusinessWorld poll last week.

It has now reduced benchmark borrowing costs by 125 bps since it began its easing cycle in August last year.

BSP Governor Eli M. Remolona, Jr. said they could deliver at least one more 25-bp cut this year, but noted that they remain watchful of emerging risks, including geopolitical tensions and the uncertainties brought about by trade policy shifts among the world’s largest economies.

The Monetary Board has three more policy meetings this year.

On Friday, concerns about the Middle East conflict supported demand for safe haven bonds, Reuters reported.

In the US bond market, which was open again after a federal holiday on Thursday, benchmark 10-year notes rose 2.8 bps to 4.423% from 4.395% late on Wednesday.

Yields had edged higher on Wednesday when US Federal Reserve Chair Jerome H. Powell said borrowing costs are still likely to fall in 2025.

Mr. Powell cautioned against holding on too strongly to forecasts and said he expects “meaningful” inflation ahead as consumers pay more for goods due to the Trump administration’s planned import tariffs.

Meanwhile, US forces struck Iran’s three main nuclear sites, President Donald J. Trump said late on Saturday, and he warned Tehran it would face more devastating attacks if it does not agree to peace.

After days of deliberation and long before his self-imposed two-week deadline, Mr. Trump’s decision to join Israel’s military campaign against its major rival Iran is a major escalation of the conflict and risks opening a new era of instability in the Middle East.

“The strikes were a spectacular military success,” Mr. Trump said in a televised address. “Iran’s key nuclear enrichment facilities have been completely and totally obliterated.”

In a speech that lasted just over three minutes, Mr. Trump said Iran’s future held “either peace or tragedy,” and there were many other targets that could be hit by the US military.

“If peace does not come quickly, we will go after those other targets with precision, speed and skill.”

The US reached out to Iran diplomatically on Saturday to say the strikes are all the US plans and it does not aim for regime change, CBS News reported.

Mr. Trump said US forces struck Iran’s three principal nuclear sites: Natanz, Isfahan and Fordow. He told Fox News’ Sean Hannity show that six bunker-buster bombs were dropped on Fordow, while 30 Tomahawk missiles were fired against other nuclear sites.

The strikes came as Israel and Iran have been engaged in more than a week of aerial combat that has resulted in deaths and injuries in both countries.

Israel launched the attacks on Iran saying it wanted to remove any chance of Tehran developing nuclear weapons. Iran says its nuclear program is for peaceful purposes only.

Diplomatic efforts by Western nations to stop the hostilities have so far failed. United Nations Secretary-General Antonio Guterres called Saturday’s strikes a “dangerous escalation in a region already on the edge — and a direct threat to international peace and security.”

Both sides’ attacks on energy infrastructure, including by Israel on Iran’s South Pars gas field and the risk of a complete shutdown of the OPEC member’s oil production, as well as Iran targeting shipping in the Straits of Hormuz, have fueled fears of a spike in oil prices and impacts on economies worldwide.

Israel launched attacks on June 13, saying Iran was on the verge of developing nuclear weapons. Israel is widely assumed to possess nuclear weapons, which it neither confirms nor denies.

For this week, Mr. Ravelas expects GS yields may trend sideways to slightly lower, especially in longer tenors, as the market digests the BSP’s rate cut and awaits the release of June Philippine inflation data.

“Investor demand could remain strong for benchmark issues amid dovish sentiment,” he said.

Meanwhile, the bond trader expects yields to stay elevated, especially if the Bureau of the Treasury (BTr) shows “a sign of aggressiveness” at this week’s T-bond auction.

On Wednesday, the BTr will offer P40 billion in reissued T-bonds in a dual-tenor auction. Broken down, it will auction off P20 billion in seven-year bonds with a remaining life of two years and 10 months, and P20 billion in 25-year notes with a remaining life of 24 years and seven months.

“The market will also wait for the third-quarter borrowing schedule,” the trader said. — Lourdes O. Pilar with Reuters

Philippines climbs in Global Child Rights Index

The Philippines inched up by two spots to 72nd out of 194 countries in the 2025 edition of the KidsRights Index (KRI) by the KidsRights Foundation. The country scored 0.722 out of 1, where a higher score means a positive contribution to children’s rights. The index assesses and ranks how countries adhere to and are equipped to improve children’s rights based on five domains: the right to life, health, education, protection, and environment for child rights.

Philippines climbs in Global Child Rights Index

How PSEi member stocks performed — June 20, 2025

Here’s a quick glance at how PSEi stocks fared on Friday, June 20, 2025.

PHL told to strengthen programs for returning OFWs from Israel, Iran

EMERGENCY personnel worked at an impact site after missiles were launched from Iran to Tel Aviv, Israel on June 16, 2025. — REUTERS/RONEN ZVULUN

By Adrian H. Halili, Reporter

THE PHILIPPINES should strengthen its support programs for repatriated overseas Filipino workers (OFWs), analysts said, amid the expected influx of Filipino returnees displaced by the ongoing conflict between Israel and Iran.

Federation of Free Workers (FFW) President Jose G. Matula said that the government should enhance its programs for financial, psychological, and logistical support to all returning OFWs, along with better term reintegration programs.

“Beyond safe repatriation, the challenge lies in ensuring that our returning OFWs are not forgotten the moment they step foot on Philippine soil,” Mr. Matula said in a Viber message.

The Department of Foreign Affairs on June 21 raised the crisis alert level in Israel and Iran to Alert Level 3, calling for the voluntary repatriation of Filipinos amid the increasing tensions between the two countries.

As of June 21, the Philippine Embassy in Israel reported it has received 223 repatriation requests, including 26 OFW repatriation requests that have been confirmed.

Earlier, Israel launched a surprise attack on Tehran as it targeted Iran’s nuclear and ballistic missile facilities and top commanders. Iran launched retaliatory strikes to Tel Aviv a day later.

“OFWs are not just victims of crisis — they are agents of development. With meaningful government intervention, their return can become a stepping stone toward a stronger, more inclusive economy,” FFW’s Mr. Matula added.

He said that the government’s reintegration program continues to be fragmented, limited in its scope, and “Manila-centric.”

“Many OFWs receive one-time aid but no sustained pathway toward reintegration or decent work. This is a missed opportunity,” he added.

He said that government agencies should offer free skills retooling and upskilling for repatriated OFWs that are aligned with needs of the domestic job market.

He added that the agencies should also enable enterprise development for OFWs who plan to start businesses.

Mr. Matula added that putting up more localized reintegration centers in the provinces would ensure that services reach the provinces where most of these workers return.

“The government should disburse funds to assist returning OFWs from Israel and Iran. The (Overseas Workers Welfare Administration) has funds for reintegration of migrants with additional government assistance in cases such as the current emergency of the Israel and US attack on Iran,” said Benjamin Velasco is an assistant professor at the University of the Philippines Diliman School of Labor and Industrial Relations said in a Messenger chat.

He added that the government should evaluate the livelihood projects of OFWs, as many of them face difficulties.

Mr. Velasco said that the Philippines should be more vocal in advocating for an end to the conflict between the middle eastern countries.

“As a labor sending and oil importing country, it is in our national interest to have peace not war, especially in the Middle East. This is strategically what will help OFWs, more than repatriation,” he added.

The Philippine government has not yet issued a mandatory evacuation of Filipinos in the two Middle Eastern countries.

There are more than 30,000 Filipinos living in Israel, while there are more than 1,000 in Iran.

Senator-judges can’t be gagged during VP Sara’s trial, says senator-elect

VICE-PRESIDENT SARA DUTERTE-CARPIO FACEBOOK PAGE

THE SENATE president does not have the power to bar senator-judges from commenting on the impeachment trial of Vice-President (VP) Sara Duterte-Carpio, according to an incoming senator.

“It Is only the senator-judges, and not the presiding judge of the Senate impeachment court, who can decide to refrain from making public comments on the issues surrounding the pending trial of Vice-President Sara Duterte-Carpio,” incoming Senator Panfilo “Ping” M. Lacson said in a statement.

He added that the senator-judges could agree among themselves not to make public comments on impeachment issues.

Last week, congressmen-prosecutors called on Senate President Francis G. Escudero to remind senators that they should not make opinionated statements about the trial.

This came after allies of Ms. Duterte were urged to recuse themselves from the trial given their political bias for the Vice-President.

Senate impeachment court spokesman Reginald A. Tongol told a news briefing on Saturday the impeachment body would use Rule 18 of the Senate Rules of Procedure on Impeachment Trials “sparingly.”

The rule mandates the presiding officer and members of the Senate to refrain from making any comments or disclosures in public about the trial.

Mr. Lacson, however, argued that Mr. Tongol “should not limit himself to the sentiment of the presiding officer.”

Ms. Duterte is expected to be tried in July under the 20th Congress.

Critics have accused Mr. Escudero of delaying her trial, but he insists the Senate would adhere to the law and would not be influenced by parties for and against the Vice-President.

Ms. Duterte, a likely contender in the 2028 presidential election, is accused of secret fund misuse, unexplained wealth, acts of destabilization and plotting the assassination of President Ferdinand R. Marcos, Jr., his family and the Speaker. She has denied any wrongdoing.

The impeachment complaint was filed and signed in February by more than 200 congressmen, more than the one-third vote required by law before it could be sent to the Senate.

Mr. Escudero last week said the Senate impeachment court could only proceed with the trial once she and House of Representatives prosecutors submit their written responses to the impeachment court’s summonses.

He noted that before the Senate adjourned last week, it ruled that the Senate president of the incoming 20th Congress would be the one to schedule the next hearing.

The Senate convened as an impeachment court on June 10, ordering the Vice-President to respond to its summons within 15-days. House prosecutors were given five days to reply to her comment within five days.

As soon as it did so, the court sent back the charges to the House to certify that it did not violate the 1987 Constitution when it impeached the Vice-President.

Speaker Ferdinand Martin G. Romualdez earlier said the decision was “deeply concerning,” adding that they followed the Constitution in impeaching the Vice-President.

Ms. Duterte earlier said her legal team was reviewing the summons issued by the impeachment body.

Her impeachment is the culmination of a months-long feud with Mr. Marcos, following their falling out after his allies in the House launched an inquiry into her use of confidential and intelligence funds.

Presidents in the Philippines are limited to a single six-year term, and Mr. Marcos is expected to seek to maintain his political influence by anointing a successor.

The Speaker said the House would comply with the order of the impeachment court to ensure the process continues. — Adrian H. Halili

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