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Lucky Hyundai customer awarded in ‘Win-a-Creta’ raffle promo

From left are Hyundai customers Aris dela Fuente and Leticia dela Fuente, winner of a brand-new Creta Katheryn Ross Dela Fuente, Hyundai Motor Philippines, Inc. (HMPH) Directing Coordinator for Aftersales and Parts Young Uk Ko, Hyundai E. Rodriguez Service Head Juanito Simbulan, Jr., and HMPH General Manager for Aftersales Eric Ortiz. — PHOTO FROM HYUNDAI MOTOR PHILIPPINES

HYUNDAI MOTOR PHILIPPINES, INC. (HMPH) recently awarded a Hyundai Creta GLS IVT to a service customer who won the ‘Win-a-Creta’ Service Raffle Promo. Hyundai owners were automatically joined in the raffle if they brought their vehicles to a certified Hyundai Service Center for preventive maintenance or general repair services from Feb. 15 to April 30.

Katheryn Ross B. Dela Fuente had her Stargazer X serviced at Hyundai E. Rodriguez. According to her, the MPV was a top choice for her and her family due to its spacious interior, driving comfort, and fuel-efficiency. “Vehicle ownership is very convenient since my service advisor has been consistent in attending to my servicing needs and appointment requests,” she said.

“It is our pleasure to give back to our loyal customers through this Hyundai Win-a-Creta Service Raffle Promo,” declared HMPH Managing Director Cecil Capacete. “We at HMPH always believe that our mission goes beyond offering our customers our extensive lineup of vehicles. To a greater extent, we always strive to make the Hyundai car ownership experience a meaningful and memorable one for our customers. We are very happy to award this brand-new Hyundai Creta to Ms. Dela Fuente, and we hope that this encourages our customers to keep coming back to our service centers for top-quality service and personalized care.”

Visit https://www.hyundai.com/ph for more information, or like and follow @HyundaiMotorPhilippines on Facebook and Instagram.

T-bill, bond rates may end mixed before BSP meeting

BW FILE PHOTO

RATES of the Treasury bills (T-bills) and Treasury bonds (T-bonds) on offer this week could end mixed before an expected cut by the Bangko Sentral ng Pilipinas (BSP) at its meeting on Thursday.

The Bureau of the Treasury (BTr) will auction off P25 billion in T-bills on Monday, or P8 billion each in 91- and 182-day papers and P9 billion in 364-day papers.

On Tuesday, the government will offer P30 billion in reissued 10-year T-bonds with a remaining life of nine years and 10 months.

This week’s T-bill and T-bond auction rates could track the mixed movements at the secondary market, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

At the secondary market on Friday, yields on the 91- and 182-day T-bills eased by 0.09 basis point (bps) and 3.97 bps week on week to end at 5.4404% and 5.57%, respectively, based on PHP Bloomberg Valuation Service Reference Rates data as of June 13 published on the Philippine Dealing System’s website. Meanwhile, the 364-day tenor went up by 1.02 bps to end at 5.6916%.

For its part, the rate of the 10-year bond rose by 5.06 bps week on week to close at 6.3503%.

Yields on shorter benchmark tenors went down on expectations that the Bangko Sentral ng Pilipinas (BSP) will reduce borrowing costs this week, Mr. Ricafort said.

Meanwhile, rates of longer bonds rose due to concerns over the conflict in the Middle East as Israel and Iran exchanged attacks over the weekend, he added.

The reissued 10-year T-bonds on offer on Tuesday could be “fairly received” and fetch rates ranging from 6.35% to 6.4%, a trader said in an e-mail.

“For the Monetary Board meeting, the general view still weighs on a 25-bp cut, although we view a shallow room for a rally as we suspect a heavy borrowing schedule from the BTr in the third quarter,” the trader added.

The BSP is widely expected to deliver a second straight rate cut at its policy meeting on Thursday amid cooling inflation and weak economic growth in the first quarter, analysts said.

A BusinessWorld poll conducted last week showed that 15 out of 16 analysts see the Monetary Board bringing down the target reverse repurchase rate by 25 bps at its policy meeting on June 19 to 5.25% from the current 5.5%.

The Monetary Board resumed its easing cycle with a 25-bp rate cut in April following a surprise pause in February due to uncertainties over the impact of the Trump administration’s trade policies on the Philippine economy.

The central bank has reduced borrowing costs by a total of 100 bps since it began its easing cycle in August 2024. BSP Governor Eli M. Remolona, Jr. has said that they may cut rates two more times this year in “baby steps” or increments of 25 bps at a time as the benign inflation outlook gives them ample room to shift to a more accommodative monetary policy stance.

Last week, the BTr raised P28.6 billion from the T-bills it auctioned off, higher than the P25-billion plan. The offer was nearly four times oversubscribed, with total bids reaching P98.259 billion.

Broken down, the Treasury borrowed the programmed P8 billion via the 91-day T-bills as tenders reached P20.23 billion. The three-month paper was quoted at an average rate of 5.451%, 0.1 bp lower than the previous auction. Tenders accepted by the BTr carried yields of 5.424% to 5.469%.

The government likewise made a full P8-billion award of the 182-day securities it auctioned off as bids amounted to P38.58 billion. The average rate of the six-month T-bill was at 5.524%, down by 4.1 bps from the previous week, with accepted rates ranging from 5.522% to 5.543%.

Lastly, the Treasury raised P12.6 billion via the 364-day debt papers, higher than the P9-billion plan, as demand for the tenor totaled P39.449 billion. The average rate of the one-year T-bill declined by 2.4 bps to 5.656%, with bids accepted having yields of 5.635% to 5.673%.

Meanwhile, the reissued 10-year T-bonds to be offered on Tuesday were last auctioned off on May 20, where the BTr raised P30 billion as planned at an average rate of 6.226%, below the 6.375% coupon rate. It also borrowed another P10 billion via the same papers at a tap facility offer held on the same day as it took advantage of the strong demand seen for the bonds during the regular auction proper.

The Treasury wants to raise P230 billion from the domestic market this month, or P100 billion through T-bills and P130 billion via T-bonds.

The government borrows from local and foreign sources to help fund its budget deficit, which is capped at P1.54 trillion or 5.3% of gross domestic product this year. — A.M.C. Sy

Sta. Lucia Land hit by weaker property demand

STALUCIALAND.COM.PH

LISTED property developer Sta. Lucia Land, Inc. (SLI) reported a 31% drop in first-quarter net income to P938.05 million from P1.35 billion a year earlier, as real estate sales declined.

In a regulatory filing, SLI said total revenues fell by 31% to P2.63 billion in the January-to-March period from P3.8 billion a year ago.

Real estate sales dropped by 40% to P1.92 billion due to softer demand.

“The 40% decrease in real estate sales is due to the group’s lower take-up of real estate units caused by the sluggish demand in the Philippine real estate market in the first quarter of 2025,” SLI said.

Rental income rose by 3% to P180.35 million, while interest income increased by 12% to P139.18 million.

Total cost of sales and services declined by 45% to P542.58 million, reflecting the decrease in real estate and rental income.

Despite the weaker financial performance in the first quarter, SLI said it remains optimistic about its growth prospects.

“The group’s financial performance highlights a strong growth trajectory, driven by its diversified revenue streams and strategic introduction of new real estate projects,” it said.

“These efforts have not only enhanced the group’s market relevance but also reinforced its financial stability, paving the way for sustained success,” it added.

In February, SLI announced plans to launch more than 20 projects nationwide this year, with a primary focus on the residential subdivision segment.

The company said it intends to launch three projects in Iloilo, five in Mindanao, and a hotel and condotel in Baguio.

SLI shares were last traded on June 13, down by 0.4% or one centavo at P2.52 apiece. — Revin Mikhael D. Ochave

Australia to boost aerial surveillance of Pacific for illegal fishing fleets

REUTERS/GREG WOOD/POOL/FILE PHOTO

SYDNEY — Australia plans to significantly boost surveillance of Pacific Islands territorial waters, spending A$477 million ($310.72 million) on aerial patrols for illegal fishing fleets, tender documents viewed by Reuters show, as China takes steps towards sending its coast guard to the region.

Australia’s Prime Minister Anthony Albanese visited Fiji on Friday to discuss regional security, after the government of Prime Minister Sitiveni Rabuka approved a maritime security agreement that will see Australia fund a patrol boat for Fiji.

Australia will fund commercial aerial patrols to support Pacific Island countries monitoring exclusive economic zones which span millions of kilometers of ocean, the documents show.

Australia was in a “permanent contest” in the Pacific, Foreign Minister Penny Wong said.

“The maritime domain is an important part of ensuring a stable and secure region in which sovereignty is respected,” she told reporters in Adelaide, when asked about the Reuters report.

“These countries, they have very large maritime zones, but sometimes very small islands, so making sure that the maritime domain is … used in a way that complies with international law and international norms, that goes to sovereignty.”

Reuters reported last week that China’s coast guard is taking further steps towards high seas boarding of fishing boats in the Pacific for the first time, risking tensions with Taiwanese fleets that also ply the region.

The Chinese Coast Guard demonstrated the capabilities of one of its largest ships, used to enforce maritime law in the Taiwan Strait, to 10 Pacific Island ministers, including Fiji’s, in China a fortnight ago.

China has registered 26 coast guard vessels for Pacific Ocean patrols with the Western and Central Pacific Fisheries Commission (WCPFC), although it is yet to conduct an inspection, WCPFC officials said. China declined to comment.

Australia has gifted two dozen patrol boats to Pacific Island nations, and operates navy and air force patrols for illegal fishing in the region several times a year.

Sangaa Clark, chief executive of the Parties to the Nauru Agreement, representing nine Pacific Island countries controlling the world’s largest tuna fishery that contributes half of the tuna canned globally, said the group has not invited China to conduct coast guard patrols, and instead relied on Australian-funded surveillance and patrols by Australia, New Zealand, France and the US.

In several Pacific Island countries, China is a major fisheries partner.

Pacific security expert Peter Connolly, a fellow at the University of New South Wales, said Chinese Coast Guard patrols in the region would “introduce geostrategic tensions to the policing of the Pacific’s fisheries.”

“This is particularly likely because the two most common nationalities of illegal fishermen in the Pacific have been from the PRC and from Taiwan,” he said, referring to the People’s Republic of China. — Reuters

The Pandemic Agreement

STOCK PHOTO | Image from Unsplash

Last month, after more than three years of intensive negotiations, member states of the World Health Organization (WHO) came together at the 78th World Health Assembly (WHA78) in Geneva, Switzerland, to formally adopt the world’s first Pandemic Agreement.

The Pandemic Agreement provides a framework of principles, approaches, and tools that will guide international cooperation in preventing, preparing for, and responding to future pandemics. Its provisions aim to strengthen the global health architecture, with a clear focus on ensuring equitable and timely access to vaccines, therapeutics, diagnostics, and other vital medical countermeasures.

Throughout the negotiation process, the International Federation of Pharmaceutical Manufacturers and Associations (IFPMA) played a constructive role, offering valuable industry insights that helped shape the Agreement. From the very beginning, the research-based pharmaceutical sector committed to contributing meaningfully to equitable access. Industry leaders pledged to set aside a portion of real-time production of vaccines, treatments, and diagnostics for high-priority groups in low-income and lower-middle-income countries. These commitments reflect the sector’s dedication to using its unique capabilities to meet the urgent needs of people and communities in times of crisis.

Among the key recommendations put forward by IFPMA are strategies designed to operationalize the principles of equity and solidarity:

• Reserving a portion of production of vaccines and therapeutics for equitable distribution, ensuring that supply is guided by public health risks, needs, and demand. This includes mechanisms such as donations or equity-based tiered pricing, with the lowest pricing tiers benefiting low-income countries.

• Rapidly scaling up production and distribution capacity, with an emphasis on geographically diverse manufacturing, and improving access to essential raw materials and active pharmaceutical ingredients.

• Expanding voluntary licensing and technology transfer partnerships, enabling broader access to innovative medical tools and facilitating faster delivery of life-saving interventions.

• Accelerating research and development, including making molecule libraries available to qualified partners, to speed the discovery of effective vaccines and treatments tailored to the specific pandemic.

The Pandemic Agreement also underscores the importance of preserving what works. IFPMA cautioned against weakening frameworks that have enabled rapid innovation, such as those related to intellectual property, voluntary licensing, and technology transfer. These mechanisms proved their worth during the COVID-19 pandemic, facilitating unprecedented collaboration and speed.

Indeed, the COVID-19 experience demonstrated the critical role of the research-based pharmaceutical industry. The first COVID-19 vaccine was approved for emergency use just 326 days after the SARS-COV-2 genetic sequence was published which is the fastest vaccine development in history. This remarkable speed was pivotal in altering the course of the pandemic, saving countless lives. The industry’s efforts in scaling up manufacturing, adopting responsible pricing approaches, sharing knowledge, and collaborating globally proved that innovation, when combined with solidarity, can overcome even the greatest challenges.

Looking ahead, the biopharmaceutical industry remains committed to the “100 Days Mission” which is the goal of developing and deploying high-quality diagnostics, therapeutics, and vaccines within 100 days of identifying a new pandemic threat. Achieving this will require sustained partnerships between the private sector, governments, civil society, and international organizations.

The Philippines played a significant role in this milestone. Health Secretary Teodoro Herbosa, who was elected president of WHA78, highlighted the importance of acting swiftly to bring the Agreement to life:

“Now that the Agreement has been brought to life, we must all act with the same urgency to implement its critical elements, including systems to ensure equitable access to life-saving pandemic-related health products. It offers a once-in-a-lifetime opportunity to build on lessons learned from the COVID-19 crisis and ensure people worldwide are better protected if a future pandemic emerges.”

Beyond the pharmaceutical sector, the Pandemic Agreement calls for all stakeholders, namely governments, global institutions, non-governmental organizations, and communities, to work together to build resilient health systems, invest in preparedness, and ensure that the benefits of scientific progress are shared fairly.

The adoption of the Pandemic Agreement is more than a legal milestone. Now, it is a declaration of shared responsibility. As the world faces future health threats, the combined strengths of science, solidarity, and global cooperation will be essential to help protect lives. The research-based pharmaceutical industry stands ready to contribute its expertise, innovation, and resources to this common cause, ensuring that, when the next pandemic strikes, the world can be better prepared.

 

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.

Style (06/16/25)


Rustan’s Kids gears up for June

RUSTAN’S KIDS’ newest collections turn the spotlight on the little ones with a new chapter from Rustanette and Rustan Jr. Inspired by sunny days and garden games, the collections are designed for boys and girls aged four to 10. The Embroidered Essentials collection showcases versatile coordinates in breathable cotton and stretch fabrics, accented by monochrome eyelet embroidery. With natural wrinkles and delicate textures, these pieces are meant to be lived in. The collection highlights the Bianca Dress, a dropped-waist silhouette with classic knife pleats and a tailored upper fit, and the Bailey Bubble Top, an empire-cut piece. The Bridget Top and Bethany Flair Top play with princess silhouettes and slits for freedom and flair, while the Arden Shorts provide the illusion of a skirt with the practicality of shorts. The Summer Breeze collection features lightweight cotton and linen pieces. From natural tones to pops of soft color, each piece invites movement. The Bindi Top is an apron-inspired piece with full coverage and breezy ventilation, and the Berta Mini Skirt has a dropped waist and subtle pleats. The Anthony Shirt, a staple piece for boys from Rustan Jr, keeps things relaxed with its open-collar silhouette, while the Bambi Dress and Amira Vest bring softness and simplicity. Rounding out the collection are pastel-toned favorites like the Carrie Button Down Dress and the Callie Frilly Pants. The Springtime Sunshine collection is an airy, floral-forward selection crafted from new jacquard fabrics. The bestselling Arianna Dress returns in a new print while the Bethany Top reappears with subtle tailoring and movement-enhancing slits, and the Danielle Top charms with its empire waist, gentle gathers, and dainty pleats. Rustan Jr. introduces Match Play, crafted in breathable cotton pique. The Beckett Zip Shirt re-energizes the classic polo with a sleek zip front and structured collar, while the Bryce Duo-Color Polo Shirt splices crisp hues into one laid-back essential piece. The Brody Tri-Color Polo Shirt brings three tones into one. The newest Rustanette and Rustan Jr. Collections are available in Rustan’s Makati, Alabang, Shangri-La, and Cebu. For more information, visit @rustansph and @rustanskids on Facebook and Instagram or visit https://rustans.com/.


M&S launches summer style

M&S has looks for city breaks, special occasions and sun-drenched destinations in mind — think short shorts, swimwear, statement separates and easy, breezy linens. Womenswear features crochet co-ords, perfect for layering or lounging, and flattering swimwear, with breezy silhouettes, artisan textures and sun-bleached color palettes. Menswear sees jacquard print shirts that add a sophisticated touch, abstract prints that bring a tropical twist, and Autograph swim shorts.


A watch for a late Father’s Day gift

CASIO EDIFICE has a watch that reflects the speed, style, and sophistication Dad lives by — unlike you, who forgot to give him one of these watches. The Honda Racing Collaboration Model ECB-2000HR-1A pays tribute to the victories on the world’s greatest racetracks with a tricolor design. Its carbon materials for the bezel and carbon fiber-reinforced resin for the case features a unique design inspired by the four-arm suspension used in race cars. The Edifice ECB-2200RC-1A3 and ECB-2200RC-1A9, born from motorsports and designed with Scuderia AlphaTauri, perfectly captures his love for speed and precision. With a carbon fiber dial, solar-powered movement, and Bluetooth connectivity, this watch isn’t just a timekeeper — it’s his co-driver. For traditional dads, the EFR-575D-1A and EFR-575D-2A offer sleek minimalism with a refined edge. The EDIFICE EFR-S108D-3AV is a perfect match for timeless taste with its slim stainless-steel case, elegant green dial, and minimalist design. Meanwhile, the EQS-950BL-5AV has a solar-powered movement, while the dark brown leather strap and metallic brown dial add warmth and depth. The EQS-950DC-2AV has a deep navy dial, solar-powered chronograph, and black ion-plated stainless-steel case. Avail these watches from official G-SHOCK and Casio stores or shop online at www.casio.com/ph.

Honda Cars Philippines, Gateway Group open Talisay dealership

From left are Honda Cars Philippines, Inc. (HCPI) Sales Division General Manager Aizza Flores; Gateway Honda Brand Head Annee T. Pili; HCPI Service Division GM Edipollo Anastacio; EastWest Bank’s Jovi Abad; Gateway Group Dealer Principal Estrella Goho; Gateway Group Chairman Markane Goho; HCPI President Rie Miyaki; Gateway Group EVP Michael Goho; BPI’s Michelle Pandan; HCPI AVP and Adviser for Customer Service Yugo Konishi; and HCPI SAVP and Adviser for Sales Futoshi Kumekawa. — PHOTO FROM GATEWAY GROUP

HONDA CARS PHILIPPINES, INC. (HCPI) and the Gateway Group recently opened a VisMin-area dealership. Located along Cebu South Road in Barangay Linao, Honda Cars Talisay measures 2,122 sq.m. — boasting room for five vehicles on its showroom floor, and an “industry-leading” 20 service bays to handle preventive maintenance work to light, medium, and heavy repairs; body and paint jobs; quality control inspection; and washing.

In a release, Honda Cars Talisay General Manager Jacques Estola pointed out that the dealership also “houses the biggest Honda Active Service Reception in the VisMin area — possibly in the entire country.” She said, “We will be focusing on accommodating our Gateway clients at Honda Talisay, most especially because we have the biggest service area, we can provide the highest customer satisfaction to all Honda users.”

For information, call Honda Cars Talisay at 0906-242-8706 to schedule a viewing or service appointment.

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

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