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Coconut exports deemed priority over biofuel — Axelum

PHILSTAR FILE PHOTO

By Kyle Aristophere T. Atienza, Reporter

COCONUT product exports and domestic demand must take precedence before the government raises the coco-methyl ester (CME) content of biodiesel by 1 percentage point, Axelum Resources Corp. said.

“The proposed deferral (of the hike in the CME content of biodiesel) will certainly ease the current supply constraints, allow the industry to catch up with rising global demand, and normalize supply and stabilize prices sooner than later,” Axelum Vice-President and Investor Relations Officer Paul C. Cheah told BusinessWorld.

The Philippine Coconut Authority (PCA) has said that the National Biofuels Board (NBB) is considering the suspension of the increase in CME content of biodiesel scheduled for October.

PCA Laboratory Services Division Chief Celia M. Raquepo last week said the Board is considering the “inflationary” impact of the scheduled increase in CME blend to 4%, citing high copra prices.

She described the supply of coconuts as sufficient, though price of copra is increasing, she noted. “So, the CME price will also increase.”

As of June 3, copra prices rose to about P80 per kilo, more than quadruple the price from a year earlier.

Mr. Cheah said nut prices are currently softening at least for the short-term due to favorable climate conditions, “particularly in the past few months as we approach the historically peak harvest season.”

He noted that prolonged dry weather and consecutive typhoons in the previous year were the main drivers of record nut prices.

The Biofuels Act of 2006 requires all liquid fuel to contain a set proportion of biofuel. The blend rose to 3% in October 2024, from 2% previously. It’s set to further increase to 4% in October this year.

The Department of Energy has said that increasing the blend will “decrease dependence on imported fuels, reduce greenhouse gas emissions, and bolster the local biodiesel and bioethanol sectors.”

The NBB’s proposal is subject to the approval of the energy secretary, who chairs the board. President Ferdinand R. Marcos, Jr. has yet to name the replacement for Raphael P.M. Lotilla, who left the post in late May after being appointed to the Department of Environment and Natural Resources.

“It is difficult to predict a definitive schedule for implementation owing to various uncontrollable factors that influence supply,” Mr. Cheah said.

“In our view, the most appropriate time to enact this measure is when domestic supply is able to sustainably cater to both local and export requirements,” he added.

Ms. Raquepo of the PCA said last week that the export of coconut oil this year could raise more this year than the record $2.22 billion in revenue posted in 2024, due to rising global demand and increasing world prices.

The average price of coconut oil surged to an all-time high of $2,742 per metric ton (MT) in May, according to the World Bank.

“From a broader perspective, we must prioritize accelerating the implementation of our nationwide replanting program to replace aging trees and improve overall productivity,” Mr. Cheah said.

“The recent capacity expansions of local manufacturers and entry of foreign players is expected to further intensify competition for nuts in the long run,” he added.

The PCA last week said the coconut industry is dealing with two infestations, including coconut scale insect or cocolisap.

Cocolisap had spread to 516,962 trees as of May 30, a situation that the agency said was manageable.

But PCA Deputy Administrator Roel Rosales forecast  the potential loss of 14 million nuts due to the cocolisap spread, equivalent to about P280 million.

Aside from cocolisap, the PCA is also dealing with the coconut spike moth, which was detected in over 20,000 trees in the Calabarzon region.

The PCA has allocated P94 million to deal with pest infestations, P60 million of which was to contain cocolisap.

(Not) nonsense

AVON recently released three new fragrances under the brand-new Perfect Nonsense line (the releases about it on the global website were published just in May), and we have some thoughts.

The line was launched in the Philippines on June 5, at Makati’s Odd Café — drinks inspired by the scents will be available until August in its Makati and Ortigas branches. During the launch, strips of paper sprayed with the scents were handed out to guests, while a display of the elegant bottles was laid out for guests to try. The bottles are squat squares, topped off with clear plastic spheres, looking more expensive than they really are (Avon’s official store on online shopping platform Shopee lists them at P823; a release says P899).

Victor Costa, head of fragrance brands at Avon, was quoted as saying in a release that the line took two years to perfect. “Perfect Nonsense is our most exciting range of scents to date and is set to disrupt the mass fragrance market! No matter your gender, there’s a scent for every fragrance lover — but the collection is especially for those looking for something distinctive. As always, we partnered with world-leading fragrance houses and together we had a very clear intention to be bound by no rules, be imaginative and craft something original and I’m proud to say we’ve achieved just that!”

The line is so named because of the scent combinations in the concoctions that on paper, sound unworkable or plain ridiculous. There’s Peppery Peaches, Choco Tuberose, and Bamboozie Cocktail (bamboo and booze). The same release says, “The contrasting fragrance pairings also reflect the growing rejection of gendered fragrances in favor of unisex scents.”

An article from Beautinow.com (https://tinyurl.com/2tyshar6) cited by Avon said that a market research study from Statista found that “51% of new fragrances launched in 2018 were marketed as ‘unisex,’ as compared to 17% in 2010.” The article uses CK One’s perfume as an example of the first to market itself as unisex — and it just so happens to be one of the most famous fragrances to come out in the 1990s, its influence stretching to the 2000s; ripe for the picking for Gen Z’s Y2K nostalgia.

Avon partnered with top fragrance houses and perfumers for Perfect Nonsense, such as Nisrine Bouazzaoui Grillié, perfumer at Givaudan. Givaudan, headquartered in Switzerland, happens to be one of the largest companies in charge of scent, and interestingly, flavors. According to her page on perfume resource site Fragrantica.com, Ms. Grillié had been part of Parfums Christian Dior, and has worked on various fragrances from Carolina Herrera to H&M.

TRYING THEM OUT
For Peppery Peaches, she mixed together peach, pink peppercorn, and bergamot peel for the top notes; osmanthus, rose petals, and solar white flowers for the middle notes; and benzoin resin, vanilla sugar, and tonka bean for the base notes. BusinessWorld took home all three bottles to test for a week, and for us, Peppery Peaches did not sit well on our skin (and that’s probably our fault). The initial spritz smelled plasticky, and that scent note stuck to us for the rest of the day, reminding us of the scent of just-opened packages from a mid-level department store. Maybe someone wants to smell shiny and new like that; we don’t.

It does, however, make for an excellent room and linen spray. We’ve been spraying it on flowers (the Duchess of Windsor was said to do this too, but with Dior) and our curtains, and our living room smelled sexy and luxurious. The fact that it could scent our living room for a good three hours is also a testament to its great sillage and middling longevity.

The next scent in the line is Bamboozie Cocktail, with notes of bergamot, bamboo sap accord, lemon, tonic blends, white tea, jasmine sambac India absolute, Mate Absolute (probably not derived from nature), and Patchouli Indonesia essence. Now we’re talking. We kept this in the bathroom, to spritz ourselves on our way out of a shower to our dressing room. The clean, refreshing notes of the fragrance prolong the effect of soap and cold, clean water, and we felt and smelled clean for a little longer in the day.

Our favorite in the line was the Choco Tuberose scent. It has notes of Sichuan pepper, ginger, cosmo fruit, golden turmeric, magnolia, tuberose, cocoa shells, vetiver, and cypriol. No scent below P1,000 has a right to smell as elegantly as this one did. The rich, luxurious but sometimes overwhelming tuberose and white florals were tempered by the rich, earthy, sweetish cacao, resulting in a scent that’s clean but oddly seductive and sexy (I sniffed my wrist several times within an hour of wearing this).

That’s the problem though, and why we kept sniffing: the scent is fleeting and flits in and out. After about three hours, you’d think the scent was gone, but it comes back after six. To be more sure and consistent, spray it on your clothes (your laundress and perfume enthusiasts will not thank you though).

MICROTRENDS
Perfume has recently entered the game of the competitive microtrend, aligned with the quick attention span of teens and 20-somethings. Late last year, that sphere was obsessed with soapy clean scents; then last quarter, they were abuzz with skin scents (scents that smell like your skin, but better; almost “invisible” except to the wearer). Now it seems we’re swinging back to gourmand scents. The swings of the scent pendulum also reflect a more educated consumer. Joey Dizon, head of beauty innovation for Avon Philippines said in an interview, “We love it, that the consumers are now more educated.”

“We come up with different combinations. It’s not boxed in a specific trend per se. It’s challenging the industry,” she added.

“We have a huge range of fragrances. At any given point, we just highlight one of our fragrances to address a specific trend,” she said.

Avon Perfect Nonsense is now available through Avon Representatives, in-stores at Watsons and SM Beauty, and online via official Shopee, Lazada, and TikTok shops. — Joseph L. Garcia

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

Jobs blueprint for wholesale, retail out Monday

SMSUPERMALLS.COM

THE Department of Trade and Industry (DTI) said its Supply Chain and Logistics Group and private sector partners will be launching a jobs blueprint for the wholesale and retail industry on Monday.

In a statement, the DTI said that it will officially launch the Section G: Job Blueprint for Wholesale & Retail Trade on June 16, together with the Philippine Retailers Association and the Supply Chain Management Association of the Philippines.

“Our wholesale and retail sector is the backbone of countless Filipino families — from sari-sari store owners to hardworking retail workers,” Trade Secretary Ma. Cristina A. Roque said.

“This blueprint ensures no Filipino is left behind as we modernize and grow,” she added.

According to the DTI, the blueprint aims to provide a “comprehensive framework aimed at enhancing competitiveness and generating employment in the sector.” 

It was developed through consultations with stakeholders, including dialogues, surveys, focus group discussions, and inputs gathered from the 2024 Wholesale and Retail Trade Forum.

In 2024, the wholesale and retail industry accounted for P4.9 trillion of the Philippine economy and 10.2 million jobs.

Meanwhile, the DTI said that it is set to endorse the final version of the Tatak Pinoy Strategy to President Ferdinand R. Marcos, Jr. this month.

The Tatak Pinoy Council convened its second meeting last week to discuss the draft multi-year Tatak Pinoy Strategy.

“The TPS introduces a strategic framework for economic transformation anchored on five core pillars: human resources, infrastructure, technology and innovation, investments, and sound financial management,” the DTI said.

Aside from the draft strategy, the council also reported Tatak Pinoy Act milestones last year, including market access assistance to 38 projects, which generated P6.09 billion in actual sales and P4.91 billion and P5.24 billion in potential revenue and investments.

Two key projects were also initiated last year, which are the feasibility study on establishing a wafer fabrication facility and the update of the Semiconductor and Electronics Industry Roadmap. — Justine Irish D. Tabile

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 Freepik

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.

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

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

By Chloe Mari A. Hufana, Reporter

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Debt yields inch higher ahead of Fed policy meet

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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