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DoST funding efforts to curb disease in farmed shrimp

PHILSTAR FILE PHOTO

THE Department of Science and Technology (DoST) said it is funding a project that addresses viral disease in farmed shrimp using RNA interference-based technology.

Researchers from the University of Santo Tomas are developing antiviral protection for giant tiger prawn (Penaeus monodon) by targeting genes that may play a role in the infectivity or pathogenicity of White Spot Syndrome Virus, according to the Philippine Council for Agriculture, Aquatic and Natural Resources Research and Development (PCAARRD), an arm of the DoST.

PCAARRD said the project, in its first year, has identified three viral genes that show promise as “therapeutic targets for laboratory testing.”

“The project seeks to mark a major step forward in protecting the livelihood of shrimp farmers and securing the future of the country’s shrimp aquaculture industry.”

Aquaculture accounted for 57% total fisheries production in the first quarter of 2025. — Kyle Aristophere T. Atienza

Refreshed Mitsubishi Mirage G4 now here

The new Mitsubishi Mirage G4 GLX 1.2G CVT retails for P841,000. — PHOTO BY KAP MACEDA AGUILA

By Joyce Reyes-Aguila

MITSUBISHI MOTORS Philippines Corp. (MMPC) recently rolled out the refreshed version of the popular subcompact sedan, the Mitsubishi Mirage G4. In a release, MMPC said that the “proven reliability” of the Mirage G4 has been demonstrated by its hefty contribution to the company’s annual sales volume. The model accounted for 26,313 units sold out of a total sales output of 89,124 units for MMPC. The first-quarter sales in 2025 marked a 13.4% increase from the same period last year with 6,785 vehicles sold.

According to the brand, the style and safety enhancements in the Santa Rosa, Laguna-assembled Mitsubishi Mirage G4 seek “to “elevate” the driving experience of this key model.

Headlining the sedan’s safety upgrades are hill start assist and active stability control as standard to “maintain optimal grip in challenging conditions” through the application of “precise braking force to the right wheel at the right time to prevent skidding.” These are added to the dual SRS air bags and anti-lock braking system with electronic brakeforce distribution available in previous releases.

All three variants of the model now have 15-inch, machine-finished two-tone alloy wheels and LED projector headlights and taillights for improved visibility. The GLX CVT and GLS CVT variants have daytime running lights to enhance nighttime visibility.

The Mirage G4 is still equipped with the familiar 1.2-liter MIVEC engine and CVT transmission in MT for the GLX variant. Other features the vehicle has retained are Apple CarPlay and Android Auto connectivity, and a 450-liter trunk. Additional features of the top-of-the-line GLS variant include a keyless operation system, remote key with trunk opener, backing-up camera, and automatic climate control.

Customers can select from four exterior colors: Titanium Gray Metallic, Red Metallic, Cool Silver Metallic, and White Solid — the last available via order basis. The Mitsubishi Mirage G4 GLX 1.2G MT is priced at P793,000, while the Mirage G4 GLX 1.2G CVT is at P841,000, and the CVT is sold for P937,000.

For more information, visit www.mitsubishi-motors.com.ph or follow Mitsubishi Motors Philippines’ official social media pages.

Rates of Treasury bills, bonds to go up on bearish sentiment

BW FILE PHOTO

RATES of the Treasury bill (T-bills) and Treasury bonds (T-bonds) on offer this week could climb due to worsening global risk sentiment amid the widening conflict in the Middle East after the United States joined the ongoing attacks between Iran and Israel.

The Bureau of the Treasury (BTr) will auction off P25 billion in T-bills on Monday, or P8 billion each in 91- and 181-day papers and P9 billion in 364-day papers.

On Wednesday, the government will offer P40 billion in reissued T-bonds in a dual-tranche auction — 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 T-bond auction was moved from the usual Tuesday schedule as June 24 is a holiday in the City of Manila.

T-bill and T-bond rates could mirror the broad rise in secondary market yields last week as risk sentiment in global markets turned sour amid the Iran-Israel conflict, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

A trader said in an e-mail that the reissued seven-year bonds on offer on Wednesday could be met with strong demand and fetch yields of 5.7% to 5.75%.

In contrast, the 25-year papers could be partially awarded amid a lack of tenders due to lingering market uncertainties, the trader said, adding that the tenor could be quoted at rates ranging from 6.75% to 6.85%.

“The next catalyst would be the release of the third-quarter borrowing schedule, which we think will be packed since we are confronted by a P500-billion maturity mid-August,” the trader added.

At the secondary market on Friday, the 91 and 182- day T-bills rose by 3.1 basis points (bps) and 5.13 bps week on week to end at 5.4714% and 6.213%, respectively, based on PHP Bloomberg Valuation Service Reference Rates data as of June 20 published on the Philippine Dealing System’s website. Meanwhile, the 364-day tenor slipped by 0.74 bp to end at 5.6842%.

Meanwhile, the seven-year bond climbed by 6.45 bps week on week to yield 6.1857%, while the three-year paper, the tenor closest to the remaining life of the securities on offer this week, increased by 3.33 bps to end at 5.8258%.

The yield on the 25-year tenor likewise rose by 3.06 bps week on week to 6.6469%.

Last week, the BTr raised P26.7 billion from the T-bills it auctioned off, higher than the P25-billion plan as the offer was nearly thrice oversubscribed, with total bids reaching P74.205 billion.

This came even as the BTr made a partial award of the 91-day T-bill as strong demand prompted the Auction Committee to double its acceptance of noncompetitive bids for the 182-day tenor to P6.4 billion.

The Treasury awarded only P6.5 billion in 91-day T-bills, lower than the P8-billion plan, even as total tenders for the tenor reached P19.425 billion. The three-month paper fetched an average rate of 5.459%, 0.8 bp higher than the rate seen in the previous auction, with tenders accepted having yields of 5.443% to 5.49%.

Meanwhile, the government raised P11.2 billion from the 182-day securities, well above the P8-billion program, as bids amounted to P29.67 billion. The average rate of the six-month T-bill was at 5.523%, inching down by 0.1 bp from the prior week, with accepted rates ranging from 5.505% to 5.543%.

Lastly, the Treasury raised P9 billion as planned via the 364-day debt papers as demand for the tenor totaled P25.11 billion. The average rate of the one-year T-bill edged up by 0.1 bp to 5.657%. Accepted bids carried yields of 5.64% to 5.67%.

Meanwhile, the reissued seven-year bond to be auctioned off on Wednesday was last offered on May 14, where the government raised P15 billion as planned at an average rate of 5.703%, well above the 3.625% coupon rate.

For its part, the 25-year bond on offer this week was last auctioned off on March 27, where the government raised P25 billion as programmed at an average rate of 6.476%, also above the 6.375% coupon rate.

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. — Aaron Michael C. Sy

PrimeWater cites near-completion of SJDM project amid service concerns

PRIMEWATER INFRASTRUCTURE CORP.

VILLAR-LED PrimeWater Infrastructure Corp. said it is targeting to complete its transmission line extension project in San Jose del Monte (SJDM), Bulacan, in partnership with the San Jose del Monte Water District, by the end of the month.

In a statement over the weekend, PrimeWater said that the Transmission Line Extension Project from Barangay Tungkong Mangga to Barangay Gaya-Gaya Segment 1 is “currently underway.”

“We are upgrading both our storage and transmission systems to ensure that we will be able to supply our concessionaires sufficiently. The project is in near completion and we are optimistic that once it is completed, the significant impact will be felt by our subscribers,” the company said.

According to PrimeWater, beneficiary areas are expected to receive “16 to 24 hours of water supply service” once the project is completed. The project is estimated to support around 4,000 new service connections.

The joint venture between PrimeWater and the water district has led to an increase in water supply service from 85.223 million liters of water per day (MLD) to 122.356 MLD, the company said.

“The partnership continues to work hard to meet the supply-demand as it continues to increase due to the rapid growth in population and economic growth in the said city,” it said.

In April, the Presidential Communications Office (PCO) said President Ferdinand R. Marcos, Jr. would order an investigation into PrimeWater over alleged poor service and high costs.

A month later, the Local Water Utilities Administration launched a formal probe, the PCO said.

The probe covers PrimeWater’s 73 joint venture agreements with local water districts nationwide. — Sheldeen Joy Talavera

Venice divided ahead of billionaire Bezos’ ‘wedding of the century’

REUTERS

ROME — Venice is divided ahead of this week’s celebrity wedding of US tech-tycoon Jeff Bezos and Laura Sanchez, with some looking forward to the glitz and glamour, while others fear it will turn the scenic city of gondolas and palazzi into an amusement park.

Many details of the wedding are still under wraps — including the precise day it will happen — but it is certain that scores of stars from film, fashion, and business will arrive to see Mr. Bezos tie the knot — provided they can get past the protesters.

One group has plastered banners on the city’s famous Rialto Bridge reading “No space for Bezos!” and threatened peaceful blockades, complaining that the medieval and Renaissance city needs public services and housing, not celebrities and over-tourism.

“Bezos arrogantly believes he can take over the city and turn it into his own private party venue,” said Tommaso Cacciari, a leading light of the “No space for Bezos” campaign.

Mayor Luigi Brugnaro and regional governor Luca Zaia, on the other hand, argue that the wedding will bring an economic windfall to local businesses, including the motor boats and gondolas that operate its myriad canals.

Eleven years ago actor George Clooney married human rights lawyer Amal Alamuddin in Venice, turning the city into Hollywood on the Adriatic with a weekend of lavish celebrations.

Then, locals and tourists alike were excited to witness a memorable moment in the city’s long history of hosting stars for its film festival, the world’s oldest.

Mr. Bezos, 61, the founder of e-commerce giant Amazon and the world’s third-richest man, got engaged to journalist Ms. Sanchez, 55, in 2023, four years after the collapse of his 25-year marriage to Mackenzie Scott.

After a swirl of media speculation about the venue of what has been dubbed “the wedding of the century” Brugnaro confirmed in March that it would take place in Venice, which last year began charging tourists a fee to enter the city.

The date is expected to be some time between June 23-28 in the midst of three days of stylish celebrations.

In the face of early protests from residents who feared the arrival of thousands of celebrities and hangers-on, the city issued a statement clarifying that it would involve around 200 guests and would not disrupt Venetians’ everyday life.

Mr. Bezos and Ms. Scott had four children together, while Ms. Sanchez was previously married to Hollywood agent Patrick Whitesell, with whom she has two children. She also has a son with NFL tight end Tony Gonzalez. — Reuters

We are the world, we are the children

STOCK PHOTO | Image by jcomp from Freepik

“Russia’s full-scale invasion of Ukraine includes a systematic campaign of forcibly moving children from Ukraine into Russia, fracturing their connection to Ukrainian language and heritage through ‘re-education,’ and even disconnecting children from their Ukrainian identities through adoption. Children documented by the Yale Humanitarian Research Lab (HRL) range in age from four months to 17 years, and many have families looking for them in Ukraine” (yale.edu, March 17).

Ukraine has verified Russia’s deportation of 19,456 children to date, although the true figure is likely to be much higher because Russia frequently targets vulnerable children without anyone to speak for them (childrenofwar.gov.ua/en). Yale’s HRL placed the number of deported children closer to 35,000 as of March 19 (Ibid.).

Russian authorities themselves have claimed that over 700,000 Ukrainian children have been transferred by mid-2023 (Reuters, July 3, 2023). The domestic narrative of the Russian state is that abandoned children are rescued from the ravages of war by the magnanimous Russian state, some political analysts say. The forced transfer of Ukrainian children forms part of a broader propaganda strategy by Vladimir Putin attempting to portray Ukraine as part of the Russian nation, and to justify the invasion, according to The New York Times, March 23, 2023.

Some children have been abducted after becoming separated from their parents while fleeing active war zones, or when their parents were detained in filtration camps. Some children have actually been offered by family and friends to the adoption program of Russia for Ukrainian children, because of dire financial need, or in return for incentives. Ukraine’s ombudsman on children’s rights has alleged that Russian occupation authorities have used abductions as a punitive measure against parents who disobey occupation authorities, revoking their parental rights as punishment for dissent (Ibid.). Some children are abducted by Russian authorities after their parents are killed by Russian forces, Ukrainian officials have said.

Children have been abducted from Ukrainian state-run institutions such as orphanages, group homes, care homes, hospitals, boarding schools, and summer camps. Many of the forcibly transferred children were taken from orphanages and group homes. Families and state institutions lost track of thousands of children in their care amid the turmoil of the war (Der Spiegel, June 22, 2023).

Russia started transferring children from Ukrainian territories in 2014, the first year of the Russo-Ukrainian War, according to a timeline from the Associated Press (March 20, 2023). The vast majority of the abducted children have been taken from southern and eastern Ukraine (Kherson, Kharkiv, Zaporizhzhia, Donetsk, Luhansk and Mykolaiv regions). According to Ukraine’s ombudsman on children’s rights, Russia is carrying out the abductions with the goal of supplementing its own population, and that “Russia is conducting health examinations on the children in order to integrate only healthy Ukrainian children into the Russian nation” (DW.com, March 25, 2023).

The abducted children were given new Russian names. In May 2022, Vladimir Putin signed a decree facilitating the granting of Russian citizenship to Ukrainian children to enable their permanent adoption into Russian families — this change made it difficult if not impossible to ever reunite abducted children with their Ukrainian families, according to Amnesty International (November 2022).

In the same year, the Russian government established a large-scale system of at least 43 children’s camps in Russia and Crimea (most of which previously served as children’s summer resorts) the main purpose of which appears to be “integrating children from Ukraine into the Russian government’s vision of national culture, history, and society… a ‘systematic’ effort to ‘brainwash the Ukrainian children’,” according to a report by Yale School of Public Health’s Humanitarian Research Lab.

Children in such camps have been subjected to “Russification” — Russian state propaganda, and military education (including firearm training). Children have also been provided with formal education in accordance with Russia’s educational standards (either at the camps or at local schools) in an effort to steer them towards attending university in Russia (Yale School of Public Health, March 22, 2023).

On March 17, 2023, the International Criminal Court (ICC) issued arrest warrants for Russian President Vladimir Putin and Russian Children’s Rights Commissioner Maria Lvova-Belova, alleging criminal responsibility for the unlawful deportation and transfer of population (children) from occupied areas of Ukraine to Russia.

The ICC said that they are covered by articles 8(2)(a)(vii) and article 8(2)(b)(viii) of the Rome Statute. The charges carry a potential life sentence. It is the first time the court has issued an arrest warrant against the leader of a permanent member of the United Nations Security Council. ICC Prosecutor Karim Khan said, “We must ensure that those responsible for alleged crimes are held accountable and that children are returned to their families and communities. We cannot allow children to be treated as if they are the spoils of war.” (The Wall Street Journal, March 17, 2023).

OVER IN GAZA
It is indeed the most criminal to seize innocent children as “spoils of war,” or to hold hostage the young for the wars of their fathers. It is terribly unfortunate that the stepped-up Israeli bombings on Gaza should coincide with the escalated Russian war for territories in Ukraine, both wars still raging now. Two months after the ceasefire in place since mid-January, Israel launched a surprise barrage on the Gaza strip that was meant to pressure Hamas into releasing more hostages and accepting changes in the truce’s terms. It turned into one of the deadliest days in the 17-month war (AP News, March 25).

The aerial attacks killed 409 people across Gaza, including 183 children and 88 women, and hundreds more were wounded, according to the territory’s Health Ministry, whose count does not differentiate between militants and civilians. On March 2, when the first, six-week phase of the ceasefire technically expired, Israel had blocked entry of medicine, food, and other supplies to Gaza (Ibid.).

“Israel says it will keep targeting Hamas, demanding it release more hostages, even though Israel has ignored ceasefire requirements for it to first negotiate a long-term end to the war. Israel says it does not target civilians and blames Hamas for their deaths because it (Hamas) operates among the population” (Ibid.). Fresh military ground operations by Israeli forces in the north of Gaza were accompanied by directives that no Palestinians would be allowed to travel into the north from the south.

“I do not spend too much time concerned with who the Israeli military says they targeted in attacks like this,” Miranda Cleland, an advocacy officer with Defense for Children International Palestine (DCIP), said in remarks to Middle East Eye following the first wave of attacks. “Instead, look at the evidence: 183 dead children, comprising almost half of yesterday’s death toll, tells me that this is a war on children.

“Eighteen thousand dead children since Oct. 7, 2023 tells me this is a war on children, regardless of what the Israeli military says” (FRANCE 24 with AP, March 20).

Israel’s war in Gaza has killed more than 50,000 Palestinians, according to Gaza’s Health Ministry, which doesn’t say whether those killed are civilians or combatants but says more than half of those killed were women and children. Israel says it has killed around 20,000 militants, without providing evidence. The war has left most of Gaza in ruins and at its height displaced around 90% of the population (Ibid.).

The renewed bombing follows repeated violations of the ceasefire terms by Israel and comes days after a report commissioned by the United Nations said Israel is “deliberately inflicting conditions of life calculated to bring about the physical destruction of Palestinians as a group.” The March 13 report from the UN Independent International Commission of Inquiry on the Occupied Palestinian Territory examines what it calls Israel’s “systematic use of sexual, reproductive and other forms of gender-based violence since Oct. 7, 2023” (from theconversation.com, March 19).

Deliberate acts aimed against mothers and children, on clinics and hospitals, on homes amounted to “a genocidal act under the Rome Statute and Genocide Convention. This was done with the intent to destroy the Palestinians in Gaza as a group, in whole or in part, and that this is the only inference that could reasonably be drawn from the acts in question” (Ibid.).

The International Court of Justice (ICJ) has yet to rule on a case brought by South Africa in December 2023 accusing Israel of committing genocide in Gaza. In January 2024 it issued a ruling saying that Palestinians in Gaza had “plausible rights to protection from genocide” and set out provisional measures that Israel should follow to prevent genocide. There is no evidence that Israel has heeded this advice (Ibid.).

“With the bombardment on Gaza, Prime Minister Benjamin Netanyahu also secured the return to his government of a right-wing party that had demanded a resumption of the war, solidifying his coalition ahead of a crucial budget vote that could have brought him down” (APnews.com, March 25).

With the over 700,000 Ukrainian children and youth claimed to have been transferred to Russian allegiance (as of mid-2023, according to Russian authorities), President Putin probably thinks he has secured his position for life, as hero for the hegemony of Russia.

Putin might yet be the “wiser” one, albeit devious and calculating: children are the future of a country. But let the children live in Truth and Justice. And in Freedom.

As a popular charity song for the hungry children in the Ethiopian famine of 1985, by Michael Jackson and Lionel Richie, said: “We are the world. We are the children.”

 

Amelia H. C. Ylagan is a doctor of Business Administration from the University of the Philippines.

ahcylagan@yahoo.com

USDA developing bird flu vaccine plan for poultry

REUTERS

CHICAGO — The US Department of Agriculture (USDA) is considering a potential plan to vaccinate poultry against bird flu for the first time that includes evaluating how it would affect exports, the USDA told Reuters this week.

The actions advance the government’s assessment of a vaccine after the USDA received proposals on usage from associations representing egg and turkey producers whose farms have been devastated by the virus. Nearly 175 million chickens, turkeys and other birds have been culled in attempts to contain outbreaks since 2022 in the nation’s worst animal-health emergency.

Losses of egg-laying chickens drove egg prices to records this year, prompting grocers to ration supplies, restaurants to hike prices, and food manufacturers to increase imports from countries including Turkey, Brazil and South Korea.

The USDA pledged to spend up to $100 million on research into vaccines and other therapies to combat bird flu after prices spiked.

Now, USDA and industry officials are pursuing a more solid, written plan to potentially show importers to gauge whether vaccinations would limit trading. Industry members expect the agency to complete the plan in July.

The USDA said this week that it is working with federal, state and industry officials to develop its potential plan and is engaging with trading partners.

“You need a more complete strategy and plan for them to consider,” said Dr. John Clifford, a former USDA chief veterinary officer who advises the USA Poultry & Egg Export Council.

Debates over potential vaccinations have pitted poultry producers against each other since widespread outbreaks in 2015.

Many egg and turkey farmers said they need vaccines to help protect flocks. But government officials and companies that produce chicken meat have worried that inoculations risk all types of US poultry exports, if countries impose broad bans over concerns that a vaccine might mask the presence of the virus in flocks.

It would be devastating to chicken meat producers if importers halted trading, Mr. Clifford said. Such producers rely more heavily on exports than egg and turkey farmers, and they have not been hit as hard by the virus.

The USDA has spent more than $1 billion compensating farmers for culled flocks, according to the American Veterinary Medical Association, increasing costs for the epidemic.

“We can’t continue to operate the way we are today,” said Dr. Craig Rowles, a vice-president at egg company Versova.

Major losses of egg-laying hens prompted the United Egg Producers industry group to begin work on its own proposal in January, representatives said. It asked four longtime veterinarians, including Mr. Clifford and Mr. Rowles, to work on a plan it submitted to the USDA.

Their plan suggested an initial vaccination for baby chicks, followed by a booster shot and then testing of flocks every few weeks, Mr. Rowles said. Vaccinations would make chickens less susceptible to infections, while routine testing would increase monitoring for outbreaks, he said.

Flocks that test positive would still be culled under the proposal, Mr. Rowles said, adding that such cullings would likely be important to importers seeking to avoid the virus.

The National Chicken Council, which represents chicken meat companies, said it does not object to the USDA moving ahead with a vaccine if producers can maintain exports. The council had warned in February that vaccinations of any poultry birds, such as laying hens, would jeopardize exports of all US poultry products.

Glenn Hickman, president of egg producer Hickman’s Family Farms, blamed the chicken meat industry for opposing vaccinations that could help save his flocks. The virus has decimated about 6 million of his birds since May, or 95% of his production in Arizona.

“Let me protect my chickens,” Mr. Hickman said. — Reuters

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.